The last batch of India Inc’s Q2 July-Sept quarter results is in full swing. While most large cap companies are done with their second quarter earnings performance, results of mid-cap firms are still trickling by the day.
State Bank of India
Today, the biggest set of earnings were announced by government owned State Bank of India, which posted Q2 net profits of Rs.2810 crore, up 12.34% from Rs.2501 crore reported during the quarter ended September 2010. However, the share price of SBI slumped steeply on the BSE Sensex as the bank assets quality deteriorated with higher NPAs at 4.19% in the July to Sept FY12 quarter.
ADAG Group firm Reliance Infrastructure posted a consolidated Q2 net profit of Rs.361.63 crore, almost flat with Rs.2 crore higher profits as compared to a year ago period, due to escalating interest costs. However, its sales grew by healthy 49% at Rs.5855 crore YoY. The company’s order book size has reached Rs.24325 crore as on September quarter.
Apollo Tyres reported consolidated net profit of Rs.77.77 crore for the second quarter of FY12, up 46% from Rs.53.25 crore posted during a year ago period. Net sales of this leading tyre company surged almost proportionately by 47.32% to Rs.2871 crore as compared to last year.
Medical equipment manufacturer Opto Circuit announced consolidated net profit of Rs.121 crore for the quarter ended September 2011, up 56% as compared to the corresponding period last year. Its consolidated net sales grew by 70% to Rs.562 crore, from 331 crore last year.
Drug major Lupin posted 24.13% growth in its Q2 net profits at Rs.Rs.267 crore, as compared to Rs.215 crore last year. Net sales surged by 23.57% to arrive at Rs.1742 crore during the second quarter of FY12, as against Rs.1409 crore in the corresponding quarter a year ago.
Glenmark Pharmaceuticals today reported a consolidated second quarter net profit of Rs.55.85 crore. Consolidated net sales of the drug firm stood at Rs.1055 crore for the quarter ended September 2011. The company posted one time expense of Rs.131.68 crore on its foreign currency loans.
Gujarat NRE Coke
Met coke producer Gujarat NRE Coke came out with its second quarter results performance at Rs.80.4 million as against Rs.99 crore in the corresponding quarter last year. Total income for the firm stood at Rs.2700 million which grew by 10.88% from the corresponding quarter last year.
Auto component maker Bharat Forge’s net profits zoomed to Rs.106.40 crore for the July-Sept quarter 2011, witnessing a jump of 56.14% from the corresponding quarter last year. Net sales were reported at Rs.910 crore as compared to Rs.718 crore posted during the year ago period.