Bank of India’s net profit zoomed 99.89 per cent year-on-year (YoY) to Rs 1,051 crore for the second quarter of Q2FY22 on improvement in non-interest income and fall in the provisions for bad loans.

The public sector bank had posted a net profit of Rs 526 crore in the year-ago quarter. Sequentially, net profit was 45.97 per cent from Rs 720 crore a year ago.

Country's largest public lender, State Bank of India (SBI), on Wednesday reported a 67% rise in net profit at Rs 7,627 crore for the July-September quarter of fiscal year 2021-22 as against Rs 4,574 crore in the corresponding period of last year. This, as provisions for bad loans more than halved.

Total income increased 3% at Rs 77,689 crore as against Rs 75,342 crore in year-ago period. Provisions for bad loans slid 52% to Rs 2,699 crore, while the bank's gross bad loan ratio, a measure of asset quality, slipped to 4.90% from 5.32% a quarter earlier.

Zee Entertainment on Wednesday announced November 11 as board meeting date to announce earnings.

The company, which has been immersed in a legal battle with its largest shareholder, had cancelled October 27 board meet citing lack of quorum.

Adani Power on Wednesday said that it has got National Company Law Tribunal (NCLT) approval to acquire Essar Power's 1,200 MW thermal power project in Mahan, Madhya Pradesh.

NCLT, Principal Bench at New Delhi, in its order dated November 01, 2021, approved the resolution plan submitted by Adani Power Ltd for acquisition of EPMPL (Essar Power M P Ltd), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code, Adani Power stated in a BSE filing.

Naveen Jindal-led Jindal Ste­el & Power (JSPL) on Tuesday reported a consolidated net profit of Rs 2,584 crore for Sept­ember quarter as against Rs 837 crore in the corresponding period last year at a low base.

The company’s bottom line in June quarter stood at Rs 2,543 crore.

Bharti Airtel on Tuesday rang up a consolidated net profit of Rs 1,134 crore for the quarter ended September 30, beating estimates, aided by improved operational performance and exceptional income.

Brokerages had expected Bharti Airtel to show impressive sequential growth in net profit for the July-September quarter (Q2FY22) on the back of a steady subscriber base and tariff hikes in select pre- and post-paid plans.

State-run Bank of India on Tuesday reported nearly 100 per cent jump in its net profit at Rs 1,051 crore in quarter ended September 2021.

The bank had posted net profit of Rs 526 crore in the same period a year ago.

Net profit for Q2FY22 stood at Rs 1,051 crore, up by 99.89 per cent year-on-year, the bank said in a regulatory filing.

Shares of Bayer CropScience hit a 52-week low of Rs 4,677.85, down 7 per cent on the BSE in Tuesday’s intra-day trade after the company reported 31 per cent year-on-year (YoY) decline in net profit at Rs 154.10 crore for the September quarter (Q2FY22). The agrochemicals company had posted net profit of Rs 224.6 crore in Q1FY21.

The previous 52-week low of the stock was of Rs 4,928.25 touched on March 25, 2021. At 01:16 pm; the stock was trading 6 per cent lower at Rs 4,705, as compared to 0.05 per cent decline in the S&P BSE Sensex.

Shares of Tata Motors were up 5 per cent at Rs 509.95 on the BSE in Tuesday’s intra-day trade after the company’s wholly owned subsidiary - Jaguar Land Rover UK reported good operational performance in July-September quarter (Q2FY22). The management said JLR expects to see gradual recovery starting in the second half (October-March) of FY22.

JLR expects the earnings before interest tax (EBIT) margin and free cash flow (before restructuring costs) to turn positive in the second half of Fiscal 2022.

India will always strengthen any effort for sustainable development, Prime Minister Narendra Modi said on Tuesday after Ursula von der Leyen, the President of the European Commission described India as a key partner in combating climate change.

Prime Minister Modi again met Leyen during the COP26 Climate Summit here on Monday. President of the European Council Charles Michel and Leyen had met Modi in Rome on Friday on the sidelines of the G20 Summit.

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