NEWS CORNER
1.
FMCG major Nestle India reported
a 29.99 percent increase in net profit to Rs 446.11 crore for the third quarter
ended September 2018, supported by broad-based volume growth. The company,
which follows the January-December financial year, had posted a net profit of
Rs 343.17 crore for the July-September period of the previous fiscal.
2.
Country's largest private sector
lender ICICI Bank's second quarter profit fell sharply by 55.84 percent to Rs
908.88 crore compared to the year-ago period. Elevated provisions and high
treasury base hit the bottom line.Net interest income, the difference between interest
earned and expended, grew 12.41 percent on year to Rs 6,417.6 crore with good
loan growth of 12.8 percent YoY and margin improvement.
3.
State-owned Indian Overseas Bank
(IOB) on Friday reported narrowing of its net loss to Rs 487.26 crore in the
second quarter ended September 2018 on lower provisioning. The bank had
registered a net loss of Rs 1,222.50 crore in the year-ago period. Sequentially
also, its net loss narrowed from Rs 919.44 crore in the first quarter ended
June of the current fiscal.
4.
Jindal Stainless Ltd (JSL)
reported a standalone loss of Rs 36.44 crore for the quarter ended September
30, 2018. The company had posted a profit of Rs 27.30 crore in the year-ago
period.
5.
Retail chain Shoppers Stop
reported a standalone net profit of Rs 13.20 crore for the second quarter ended
September 30, 2018. The company had posted a net loss of Rs 21.80 crore in the
July-September period a year ago.
Missed call
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