IOC quarter 2 profit up 18% at Rs 3,696 crore

New Delhi, October 27 

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Indian Oil Corp (IOC) today reported 18% rise in second quarter net profit on the back of higher fuel sales.

Net profit in July-September at Rs 3,696.29 crore, or Rs 7.80 per share, was 18.4% higher than Rs 3,121.89 crore, or Rs 6.59 a share, net profit in the year-ago period, the company said in a regulatory filing. Revenues soared to Rs 1.1 lakh crore from Rs 1 lakh crore last year. 

Maruti Suzuki net grows 3.4% to Rs 2,484 crore

Country’s largest carmaker Maruti Suzuki India today posted 3.4% rise in net profit at Rs 2,484.3 crore for the second quarter ended September 30.

Net sales rose 21.8% to Rs 21,438.1 crore for the quarter under review, as against Rs 20,048.6 crore a year ago, Maruti Suzuki India said.  During July-September period, the company sold a total of 4,92,118 vehicles, including 34,717 in overseas markets, a growth of 17.6% over the same period a year ago.

ITC profit rises 6% to Rs 2,640 crore  

Diversified group ITC Ltd today reported 5.59% increase in standalone net profit to Rs 2,639.84 crore for the September quarter of the current fiscal with its cigarettes segment hit hard by higher taxes.

The company’s total income during the second quarter of 2017-18 was Rs 10,258.13 crore. It had posted income of Rs 14,091.96 crore in the year-ago period.

ITC said its total income from operations during the quarter under review is not comparable with the previous periods due to the introduction of GST from July 1.

ICICI Bank profit dips 30% to Rs 2,071 crore 

ICICI Bank today reported a 30% decline in consolidated net profit to Rs 2,071.38 crore for the September quarter due to increase in bad loans. Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period, ICICI Bank said. — PTI