Latest news with #Kolkata-headquartered
The Print
2 days ago
- Business
- The Print
UCO Bank Q1 net profit up 10 pc to Rs 607 cr
UCO Bank MD and CEO Ashwini Kumar said the growth is primarily attributed to a rise in both total interest income and non-interest income. The lender had posted a profit of Rs 551 crore in the year-ago period. Kolkata, Jul 21 (PTI) State-run UCO Bank on Monday reported a 10.16 per cent year-on-year rise in net profit to Rs 607 crore for the April-June quarter of the 2025-26 financial year, driven by strong growth in advances and improved asset quality. 'Interest income from advances alone increased from around Rs 6,000 crore to Rs 6,400 crore year-on-year. Additionally, operating expenses increased by only 4 per cent, disproportionately lower than required, further contributing to profitability,' he said. The guidance for net interest margin (NIM) has been revised downwards to a range of 2.9-3 per cent from the earlier projection of 3-3.10 per cent due to 'front-loading' loan repricing, he said. The bank's operating profit for the June quarter in the current fiscal rose 18.24 per cent to Rs 1,562 crore, while net interest income (NII) increased by 6.61 per cent to Rs 2,403 crore during the period, the lender said in a statement. The total business grew 13.51 per cent to Rs 5,23,736 crore as of June 30, 2025, supported by a 16.48 per cent jump in gross advances to Rs 2,25,101 crore. Deposits rose 11.37 per cent to Rs 2,98,635 crore, the Kolkata-headquartered bank said. Net Interest margin for the quarter stood at 2.96 per cent, it said. The growth in the retail, agriculture, and MSME (RAM) segment remained strong, with advances in this category rising 23.47 per cent year-on-year to Rs 1,25,927 crore, the lender said. Retail advances grew 30.73 per cent to Rs 56,195 crore, led by home and vehicle loans, which increased 17.92 per cent and 66.94 per cent, respectively. The bank expects retail slippages to remain controlled and range-bound in the coming quarters, with no significant increase anticipated, the official said. The domestic corporate advances stood at Rs 74,051 crore, a year-on-year growth of 14.61 per cent. The bank intends to grow its corporate loan book in the range of 12-14 per cent in the upcoming quarters, Kumar said. He stated that lending for startups is expected to gain traction with clarity on guarantee. The asset quality saw an improvement with gross non-performing assets (NPA) declining to 2.63 per cent from 3.32 per cent a year ago, while net NPA fell to 0.45 per cent from 0.78 per cent. The provision coverage ratio stood at 96.88 per cent. The bank's capital adequacy ratio stood at 18.39 per cent, with Tier-I capital at 16.36 per cent. As of June 30, 2025, the lender operated 3,305 branches, including two overseas branches in Hong Kong and Singapore, and had 16,803 customer touchpoints comprising ATMs and business correspondents. PTI BSM BDC This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
2 days ago
- Business
- News18
UCO Bank Q1 net profit up 10 pc to Rs 607 cr
Agency: PTI Kolkata, Jul 21 (PTI) State-run UCO Bank on Monday reported a 10.16 per cent year-on-year rise in net profit to Rs 607 crore for the April-June quarter of the 2025-26 financial year, driven by strong growth in advances and improved asset quality. The lender had posted a profit of Rs 551 crore in the year-ago period. UCO Bank MD and CEO Ashwini Kumar said the growth is primarily attributed to a rise in both total interest income and non-interest income. 'Interest income from advances alone increased from around Rs 6,000 crore to Rs 6,400 crore year-on-year. Additionally, operating expenses increased by only 4 per cent, disproportionately lower than required, further contributing to profitability," he said. The guidance for net interest margin (NIM) has been revised downwards to a range of 2.9-3 per cent from the earlier projection of 3-3.10 per cent due to 'front-loading' loan repricing, he said. The bank's operating profit for the June quarter in the current fiscal rose 18.24 per cent to Rs 1,562 crore, while net interest income (NII) increased by 6.61 per cent to Rs 2,403 crore during the period, the lender said in a statement. The total business grew 13.51 per cent to Rs 5,23,736 crore as of June 30, 2025, supported by a 16.48 per cent jump in gross advances to Rs 2,25,101 crore. Deposits rose 11.37 per cent to Rs 2,98,635 crore, the Kolkata-headquartered bank said. Net Interest margin for the quarter stood at 2.96 per cent, it said. The growth in the retail, agriculture, and MSME (RAM) segment remained strong, with advances in this category rising 23.47 per cent year-on-year to Rs 1,25,927 crore, the lender said. Retail advances grew 30.73 per cent to Rs 56,195 crore, led by home and vehicle loans, which increased 17.92 per cent and 66.94 per cent, respectively. The bank expects retail slippages to remain controlled and range-bound in the coming quarters, with no significant increase anticipated, the official said. The domestic corporate advances stood at Rs 74,051 crore, a year-on-year growth of 14.61 per cent. The bank intends to grow its corporate loan book in the range of 12-14 per cent in the upcoming quarters, Kumar said. He stated that lending for startups is expected to gain traction with clarity on guarantee. The asset quality saw an improvement with gross non-performing assets (NPA) declining to 2.63 per cent from 3.32 per cent a year ago, while net NPA fell to 0.45 per cent from 0.78 per cent. The provision coverage ratio stood at 96.88 per cent. The bank's capital adequacy ratio stood at 18.39 per cent, with Tier-I capital at 16.36 per cent. As of June 30, 2025, the lender operated 3,305 branches, including two overseas branches in Hong Kong and Singapore, and had 16,803 customer touchpoints comprising ATMs and business correspondents. PTI BSM BDC view comments First Published: July 21, 2025, 18:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Print
6 days ago
- Business
- The Print
Emami tightens hold on pet care associate Cannis Lupus
According to a regulatory filing with stock exchanges on Thursday, Emami will convert existing inter-corporate loans of around Rs 8.23 crore into OCDs and infuse an additional Rs 4 crore through fresh subscription to these instruments. The Kolkata-headquartered company has executed an agreement to subscribe to Optionally Convertible Debentures (OCDs) issued by Cannis Lupus, which operates in the pet care segment under the brand 'Fur Ball Story'. Kolkata, Jul 17 (PTI) FMCG major Emami Ltd on Thursday said it will convert loans and make fresh investments in its associate company, Cannis Lupus Services, as part of its long-term growth strategy. The investment, the company said, aligns with its strategic focus on expanding into complementary wellness and lifestyle categories, though Cannis Lupus operates outside Emami's core FMCG business. Cannis Lupus, incorporated in 2019 and based in Gurugram, offers ayurvedic and herbal remedies for pets and is developing a portfolio of medicinal foods, supplements, and other pet care products. Its turnover stood at Rs 510 lakh in FY25, down from Rs 666 lakh in FY24. Emami has been gradually diversifying its portfolio in recent years through investments in wellness and healthcare adjacencies, including brands such as The Man Company, Brillare Science, and TruNativ. Shares of Emami closed at Rs 587.50 apiece on the NSE, up by 1.40 points or 0.24 per cent on Thursday. PTI BSM SBN SBN This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
6 days ago
- Business
- News18
Emami tightens hold on pet care associate Cannis Lupus
Kolkata, Jul 17 (PTI) FMCG major Emami Ltd on Thursday said it will convert loans and make fresh investments in its associate company, Cannis Lupus Services, as part of its long-term growth strategy. The Kolkata-headquartered company has executed an agreement to subscribe to Optionally Convertible Debentures (OCDs) issued by Cannis Lupus, which operates in the pet care segment under the brand 'Fur Ball Story'. According to a regulatory filing with stock exchanges on Thursday, Emami will convert existing inter-corporate loans of around Rs 8.23 crore into OCDs and infuse an additional Rs 4 crore through fresh subscription to these instruments. The investment, the company said, aligns with its strategic focus on expanding into complementary wellness and lifestyle categories, though Cannis Lupus operates outside Emami's core FMCG business. Cannis Lupus, incorporated in 2019 and based in Gurugram, offers ayurvedic and herbal remedies for pets and is developing a portfolio of medicinal foods, supplements, and other pet care products. Its turnover stood at Rs 510 lakh in FY25, down from Rs 666 lakh in FY24. Emami has been gradually diversifying its portfolio in recent years through investments in wellness and healthcare adjacencies, including brands such as The Man Company, Brillare Science, and TruNativ. Shares of Emami closed at Rs 587.50 apiece on the NSE, up by 1.40 points or 0.24 per cent on Thursday. PTI BSM SBN SBN (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 17, 2025, 20:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hans India
14-07-2025
- Business
- Hans India
Kesoram Industries' Q1 loss widens to Rs 99.3 crore, revenue drops 9.3 pc YoY
Kolkata-based Kesoram Industries on Monday reported a wider consolidated net loss of Rs 99.3 crore for the first quarter (Q1) of FY26, compared to a loss of Rs 61.4 crore in the same quarter previous fiscal (Q1 FY25). The company also witnessed a decline in revenue, which fell by 9.3 per cent to Rs 61 crore in Q1 FY26 from Rs 67.3 crore in Q1 FY25, according to its stock exchange filing. The company's EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss stood at Rs 10.5 crore, slightly higher than the loss of Rs 8.41 crore recorded in the year-ago period. The quarter also included an exceptional loss of Rs 89.8 crore, which significantly impacted the bottom line. However, total expenses for the quarter reduced to Rs 82.98 crore, down nearly 27 per cent from Rs 113.38 crore in the same period last financial year. However, certain cost components saw an increase. The cost of materials consumed rose by 8.27 per cent year-on-year (YoY) to Rs 31.8 crore, while employee benefits expenses rose by 17 per cent to Rs 17.97 crore. Kesoram Industries, which has a legacy dating back to 1919, was previously active in the cement business under the brand names 'Birla Shakti Cement' and 'Vasavadatta Cement'. In March this year, the company's cement business was acquired by UltraTech Cement Limited. Post demerger, Kesoram is now primarily focused on its Rayon, transparent paper (TP), and chemicals segment, marketed under the 'Kesoram Rayon' brand. The Kolkata-headquartered company began its journey with cotton textiles and later diversified into rayon, cement, tires, and chemicals. With the cement division now spun off, Kesoram is aiming to consolidate and strengthen its position in the rayon and allied businesses.
