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Friday, July 25, 2014

PNB Q1 profit beats forecast, up 10% but asset quality weak
Punjab National Bank net profit jumped 10.2 percent on yearly basis to Rs 1,405 crore on account of fall in provisions but decline in other income limited the profitability .The asset quality worsened during April-June quarter of current financial year 2014-15. The bank reported growth in profit for the first time in last four quarters.

Shriram Transport Finance Q1 PAT drops 10% to Rs 306 cr

Shriram Transport Finance Corporation April-June quarter (Q1FY15) net profit declined by 10 percent to Rs 306 crore from Rs 341 crore in corresponding quarter of last fiscal. However, total income was up by 6 percent to Rs 2,015.8 crore from Rs 1,891.3 crore, Y-o-Y.

UCO Bank Q1 profit up 2%, other income falls significantly
UCO Bank  has reported a net profit of Rs 520 crore in the first quarter (April-June) of current financial year, increased marginally (1.7 percent) compared to Rs 511 crore in same quarter last year on account of significant fall in other income that was the reason behind fall in share price.

Allahabad Bank Q1 net profit tanks 73% but NII rises 23%
Allahabad Bank reported a 72.7 percent decline in net profit at Rs 112.7 crore in April-June quarter (Q1FY15) compared to Rs 413 crore in same quarter last year on account of higher provisions, tax cost and fall in other income but net interest income growth was very strong.

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