Pre Market: Dalal Street may open positive; Airtel, JSPL, Union Bank in news today

Bharti Airtel: The telecom operator’s consolidated net profit rose to Rs 1,134 crore in Q2FY22, boosted by improved operational performance. The company had posted a net loss of Rs 763 crore in the year-ago period. The average revenue per user in the quarter stood at Rs 153, as against Rs 143 in the same period last year. Its operating revenue during the reported quarter jumped 13 per cent to Rs 28,326.4 crore compared with Rs 25,060 crore in the same period last fiscal.

Jindal Steel & Power Ltd: The company reported a consolidated net profit of Rs 2,584 crore in Q2FY22, as against Rs 837 crore in the corresponding period last year. Net sales in the quarter stood at Rs 13,611.71 crore, up 67 per cent from Rs 8148.77 in the same period last year helped by higher volumes and strong realisations.

Union Bank of India: The company’s consolidated net profit jumped to Rs 1510 crore in Q2FY22, from Rs 533.87 in the year-ago period. Net interest income grew 8.52 per cent to Rs 6,829 crore in the second quarter of FY22. Net interest margin rose to 2.95 per cent, from 2.78 per cent in the year-ago period.

Bank of India: The public-sector lender posted an increase in its net profit at Rs 1051 crore, as against a net profit of Rs 526 crore in the year-ago period. The rise was attributed to higher non-interest income and decrease in provisions for bad loans. Net interest income (NII), fell 14.32 per cent to Rs 3,523 crore in Q2FY22. Its provisions for NPAs declined to Rs 241 crore in the reported quarter, from Rs 2,134 crore in the year-ago period.

Dabur: The FMCG major registered a 4.64 per cent rise in consolidated net profit at Rs 505.31 crore in Q2FY22, from Rs 482.86 crore in the year-ago period. The rise was attributed to strong double-digit volume growth in the domestic market. Operating revenue in the second quarter was up 11.98 per cent to Rs 2,817.58 crore, as against Rs 2,516.04 crore in the same quarter of last financial year.

PNB Housing: The company’s net profit in Q2FY22 fell 25 per cent year-on-year to Rs 235 crore. Its net interest income (NII) during the quarter dropped 23 per cent year-on-year to Rs 503 crore from Rs 651 crore in the year-ago period. Gross non-performing assets (NPA) rose to 5.92 per cent in the quarter from 2.59 per cent in the same quarter last fiscal.

HPCL: The oil marketing company reported a consolidated net profit of Rs 1,918.89 crore in Q2FY22, compared with a consolidated net profit at Rs 2,975.83 crore during the same period a year ago. Its consolidated total income during the period stood at Rs 88,085.42 crore, up from Rs 62,439.86 crore in the year-ago period.

Tata Consultancy Services: The company has joined the racing team Jaguar Racing as title partner ahead of the 2021/22 ABB FIA Formula E World Championship. The team will be known as Jaguar TCS Racing. TCS and Jaguar will work together to create a platform that will drive research and innovation. The partnership will also steer towards advanced concepts and electric vehicle technologies.

HCL Infosystems: The company registered a consolidated net profit of Rs 13.07 crore in Q2FY22, as against a net loss of Rs 83.71 crore in the year-ago period. Its consolidated operating revenue in the quarter stood at Rs 15.54 crore, compared with Rs 131.57 crore in the year-ago period.

Vodafone Idea: The telecom operator has partnered with Ericsson to showcase the power of 5G to transform the healthcare sector in India. The company said due to its ultra-high data speed, low latency and reliability of 5G, a doctor located in an urban centre can actually carry out an ultrasound scan on a patient in a remote rural location.