May 3, 2021By: Rounak Jain
While it more than doubled its profit to ₹13,227 crore in the March 2021 quarter, the performance of Jio and the O2C vertical has left a lot to desire.
India's largest private bank has cut India’s FY22 growth projection from 11.5 percent to 10 percent, which can be a buzz kill for its peers too.
It has EXTENDED the lockdown of its manufacturing facilities across India till May 9, and plant operations are scheduled to resume on May 10.
Its losses increased to ₹3,788 crore in the March 2021 quarter while net interest income declined to ₹987 crore from ₹1,274 crore, year-on-year.
Its net profit in the March 2021 quarter jumped to ₹876 crore from ₹302 crore, while net interest income rose to ₹3,535 crore from ₹3,231 crore, year-on-year.
It recorded a relatively lower decline in vehicle sales compared to its peers. Unit sales fell 4.4 percent to 1,59,691 vehicles in April 2021.
It recorded a major decline of 41 percent in sales – it managed to sell 41,739 vehicles in April 2021 as compared to 70,263 vehicles in the previous month.
Its tractor sales declined by 11 percent to 27,523 tractors, passenger vehicle sales increased by 9.5 percent to 18,285 units while commercial vehicle sales were down by 25 percent to 16,147 units.
Its commercial vehicle sales declined by nearly 70 percent to 2,145 units in April 2021 from 7,037 units in the previous month.
SBI Life Insurance, Kotak Mahindra Bank, Tata Chemicals, L&T Technology Services, Supreme Industries, IDBI Bank