Tag: second quarter

Bank of Maharashtra net profit jumps ₹264 crore in Q2

Banking & Finance

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Bank of Maharashtra reported a 107 per cent year-on-year jump in second quarter net profit at ₹264 crore against ₹130 crore in the year ago quarter.

Net interest income in the reporting quarter rose 34 per cent yoy at ₹1499 crore. Other income was up 23 per cent yoy at ₹493 crore.

Loan loss provisions jumped to ₹583 crore, including towards increase in provisions on account of implementation of resolution plans under RBI’s “Resolution Framework for COVID-19 related stress” (August 6, 2020 circular) against a write back of ₹4.55 crore in the year ago quarter.

Deposits increased by 14.46 per cent yoy to ₹1,81,572 crore. Advances rose by 13.55 per cent yoy to ₹1,10,728 crore.

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HDFC Bank Q2 consolidated profit rises 18 pc to Rs 9,096 cr, BFSI News, ET BFSI

Banking & Finance

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HDFC Bank on Saturday reported an 18 per cent increase in its consolidated net profit at Rs 9,096 crore for the second quarter ended September 2021. The country’s biggest private sector lender had posted a consolidated net profit of Rs 7,703 crore in the corresponding quarter a year ago.

Total consolidated income during the quarter under review rose to Rs 41,436.36 crore from Rs 38,438.47 crore in July-September 2020, HDFC Bank said in a statement.

On a standalone basis, after providing Rs 3,048.3 crore for taxation, it earned a net profit of Rs 8,834.3 crore, an increase of 17.6 per cent over the quarter ended September 30, 2020.

The bank had earned a net profit Rs 7,513.1 crore on standalone basis in the same quarter a year ago, the statement said.

Total income (standalone) grew to Rs 38,754.16 crore in the second quarter of FY2022 from Rs 36,069.42 crore in the year-ago quarter. PTI DP MKJ MKJ



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Govt to borrow 47% less in Q2

Banking & Finance

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The Government will be borrowing about 47 per cent less at ₹2.21 lakh crore in the second quarter of FY22 against ₹4.68 lakh crore in the first quarter via weekly Treasury Bill auctions.

The central bank, in a statement, said: “After reviewing the cash position of the Central Government, Government of India, in consultation with the Reserve Bank of India, has decided to notify the amounts for the issuance of Treasury Bills for the quarter ending September 2021.”

As per the calendar, the Government will be borrowing about 53 per cent of the total amount via 91-days T-Bill auctions; 24 per cent via 182-days T-Bills and 23 per cent via 364-days T-Bills.

Market experts say since more than 50 per cent of the total Government borrowing in Q2 is via 91-days T-Bills, RBI probably wants the yields at the short-end to go up.

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