NBCC Q2 net profit up 31 pc at Rs 81 cr

Brunilde Fioravanti
Novembre 14, 2017

BASF India today reported a turnaround with net profit of Rs 172.91 crore in the September quarter due to new product launches in agricultural solutions business and volume growth in other segments.

The company reported net loss of Rs 19.39 crore in the corresponding period past year.

The company said the results for the period are not comparable as it include the financials of Aditya Birla Nuvo Ltd (ABNL) and its subsidiaries post its merger with effect from 1 July 2017. And net NPAs or bad loans stood at Rs 19,572.62 crore, as compared to Rs 19,341.95 crore.

Bank of Baroda said it made provision of 20 per cent on secured sub-standard advances which is higher than the regulatory requirement of 15 per cent.

The bank's asset quality worsened further in the September quarter of the current fiscal. "Remaining Rs 325.89 crore will be provided in next two quarters as permitted under RBI directions", the bank said.

Revenue fell by about one per cent to Rs 12,409.65 crore.

In quarterly terms as well, the net profit of NBCC increased to Rs 66.51 crore in the July to September period this year, compared with Rs 61.85 crore in the same period last year.

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