ICICI Bank Q1 net rises to Rs 2,605 cr

New Delhi: The country's largest private sector lender ICICI Bank on Thursday reported a marginal rise of 3.5 per cent in consolidated net profit at Rs 2,604.73 crore for the first quarter of the current fiscal. The bank’s net profit in the corresponding April-June quarter of 2016-17 stood at Rs 2,515.85 crore. Total income on consolidated basis rose to Rs 26,517.57 crore for the quarter under review, as against Rs 24,483.75 crore in the same period of the previous fiscal, the bank said. 

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Maruti Suzuki Q1 profit grows 4.4% 

New Delhi: India’s largest carmaker Maruti Suzuki India (MSI) posted a 4.4 per cent rise in its net profit at Rs 1,556.4 crore for the first quarter to June on the back of robust sales and cost reduction efforts.  The company had reported a net profit of Rs 1,490.9 crore for the same period of the previous fiscal. The net sales rose 16.7 per cent to Rs 17,132.4 crore for the quarter under review as against Rs 14,654.5 crore a year earlier.  During April-June, the company sold a total of 3,94,571 vehicles, including 26,140 in overseas markets, a growth of 13.2 per cent, over same period of the previous year. 

Idea Cellular posts loss amid price war

Mumbai: Idea Cellular Ltd, India's No. 3 telecom firm, reported a third straight quarterly loss today, reeling in the wake of a price war wrought by upstart entrant Reliance Jio. The company reported a loss of Rs 815.9 crore in the first quarter ended June. It had posted a profit of Rs 217.1 crore in the same period a year ago. "The upheaval in the Indian wireless industry continued in the first quarter of financial year 2018, despite the new entrant slowly migrating from 'free services' to 'paid services' but with heavily discounted unlimited voice and data pricing plans," Idea said. 

HCL Tech posts 6% rise in Q1 net

Mumbai: India's fourth largest software exporter HCL Technologies on Thursday posted 6.1 per cent rise in consolidated net profit at Rs 2,171 crore for the April-June quarter, helped by broad-based growth across verticals like financial services and healthcare. The company had a net profit of Rs 2,047 crore in the year-ago period. agencies