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Earnings: Macrotech Developers Q2 Profit At Rs 223 Crore, ICICI Lombard Q2 Net Income Rises To Rs 446 Crore, Mphasis Q2 Net Up 14 Per Cent, More

Realty firm Macrotech Developers Ltd on Thursday reported its consolidated net profit at Rs 223.36 crore for the quarter ended September.

Earnings: Macrotech Developers Q2 Profit At Rs 223 Crore, ICICI Lombard Q2 Net Income Rises To Rs 446 Crore, Mphasis Q2 Net Up 14 Per Cent, More
Earnings: Macrotech Developers Q2 Profit At Rs 223 Crore, ICICI Lombard Q2 Net Income Rises To Rs 446 Crore, Mphasis Q2 Net Up 14 Per Cent, More
outlookindia.com
2021-10-22T14:09:09+05:30

Realty firm Macrotech Developers Ltd on Thursday reported its consolidated net profit at Rs 223.36 crore for the quarter ended September and announced plans to raise up to Rs 4,000 crore through the issue of securities.

The company had posted a net loss of Rs 362.58 crore in the year-ago period.

Total income more than doubled to Rs 2,201.66 crore in the second quarter of this fiscal year from Rs 988.18 crore in the corresponding period of the previous year, the company said in a regulatory filing.

The board also approved the proposal of raising funds to Rs 4,000 crore by way of further issuance of securities.

Commenting on the results, Abhishek Lodha, MD & CEO, Macrotech Developers Ltd. said, “Housing market in the last 9 months has gone from strength to strength.

ICICI Lombard: Private sector non-life player ICICI Lombard on Thursday reported a marginal increase in net income at Rs 446 crore for the three months to September compared to the year-ago period, boosted by lower COVID claims at Rs 180 crore.

In the same period a year ago, the company's net income stood at Rs 416 crore.

In the previous quarter ended June, the company had reported a whopping Rs 602 crore loss on the health book due to COVID claims, pulling down its net profit in that quarter by 62 per cent to Rs 152 crore for that period, according to a release.

The company's profit from investments rose to Rs 144 crore in the September quarter from Rs 124 crore in the year-ago period.

Gross Direct Premium Income (GDPI) was at Rs 4,424 crore in the September quarter compared to Rs 3,189 crore in Q2 FY21. Excluding crop segment, GDPI increased to Rs 3,841 crore up from Rs 3,186 crore. The industry growth, excluding crop segment, was at 17.5 per cent.

Mphasis: IT firm Mphasis on Thursday reported a 14.1 per cent increase in consolidated net profit at Rs 341.4 crore for the September 2021 quarter.

The company's net profit stood at Rs 299.2 crore in the year-ago period, Mphasis said in a regulatory filing. Revenue from operations grew 17.8 per cent to Rs 2,869.2 crore in the reported quarter from Rs 2,435.4 crore in the year-ago period, it added.

In constant currency terms, growth was 6.6 per cent quarter-on-quarter and 17.2 per cent year-on-year. Its earnings per share (EPS) grew 13.7 per cent y-o-y to Rs 18.23.

Music Broadcast: Music Broadcast Ltd (MBL), which owns Radio City, on Thursday reported a net profit of Rs 0.29 crore for the second quarter ended September 30.

The company had posted a net loss of Rs 6.48 crore during the July-September quarter of the previous fiscal, MBL said in a regulatory filing.

Its revenue from operations in the quarter under review stood at Rs 42.04 crore. It was Rs 30.08 crore in the year-ago period. MBL’s total expenses were Rs 46.33 crore.

LIC Housing Finance: Mortgage lender LIC Housing Finance Ltd (LICHFL) on Thursday reported a 68.66 per cent decline in its standalone profit after tax at Rs 247.86 crore in the September quarter on higher provisioning for non-performing loans.

It had posted a profit after tax of Rs 790.90 crore in the corresponding quarter of the previous fiscal.

Total disbursements rose 29 per cent to Rs 16,110 crore as against Rs 12,443 crore. Individual home loan disbursements stood at Rs 14,330 crore compared to Rs 10,373 crore while project loans were at Rs 353 crore as against Rs 803 crore. The figures are for year-on-year basis.

The total loan portfolio grew 11 per cent to Rs 2,37,660 crore from Rs 2,13,349 crore. Of this, individual home loans grew at 15 per cent to Rs 1,88,348 crore from Rs 1,63,218 crore.

The net interest income dipped to Rs 1,173 crore from Rs 1,238 crore in the same quarter of the previous fiscal.

Net interest margins declined to 2 per cent in the latest September quarter.

(With PTI Inputs)

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