Mahindra Logistics demonstrated quarterly profit exceeding analyst expectations, driven primarily by growth in the warehousing and transportation services segments. For the reporting period ending June 30, the company recorded a consolidated net profit of 25.39 crore rupees (equivalent to 2.63 million US dollars). This figure is significantly higher than the loss of 10.8 crore rupees reported a year earlier.
According to data collected by LSEG, the average analyst forecast was 24.2 crore rupees. Core supply chain management operations, including distribution, warehousing, and freight transport, continued to be a strong growth driver, increasing revenue by 22.5 percent to 1,892 crore rupees.
The company stated in its release that the growth in the current quarter was due to an increase in contract logistics business. This occurred both through attracting new clients across various sectors and promoting the strategy of transforming into an express delivery business for enterprises.
Furthermore, Mahindra Logistics, which was spun off from the larger Mahindra Group, noted the significant contribution of its corporate mobility division to the overall growth. This segment, which provides corporate mobility solutions through the Alyte platform, showed a revenue growth of 41 percent. Consequently, the company's total consolidated revenue grew from 1,624.5 crore rupees in the quarter a year ago to 2,003 crore rupees.
Indian Overseas Bank (IOB), a public sector lender, reported a significant increase in net profit for the first quarter of fiscal year 27. Net profit grew by 49.32% year-on-year to reach ₹1,659 crore, compared to ₹1,111 crore the previous year. This growth was driven by a strong increase in net interest income and non-interest income.
Compared to the fourth quarter of fiscal year 26, net profit increased by 10.23% to ₹1,505 crore. Net Interest Income (NII) for the reporting period reached ₹3,688 crore, which is 34.30% higher than the previous year. This reflects a slowdown in deposit cost growth, which decreased to 4.70% from 5.10% the year before.
Non-interest income showed an impressive year-on-year growth of 45.85%, reaching ₹2,160 crore. A significant contribution to this growth came from fees for Priority Sector Lending Certificates (PSLC), which more than tripled to ₹863 crore. Ajay Kumar Srivastava, Managing Director and CEO of Indian Overseas Bank, noted that the rise in non-interest income is primarily linked to PSLC sales and write-offs of technically written-off accounts, in addition to regular income.
The bank's domestic Net Interest Margin (NIM) improved by 31 basis points year-on-year, reaching 3.48% in the June quarter, while the global NIM grew by 33 basis points to 3.37%. General provisions decreased by 1.18% year-on-year to ₹834 crore (from ₹844 crore in Q1 FY26), although they fell consistently by 17.10% from ₹1,006 crore in Q4 FY26. Among these, provisions for Non-Performing Assets (NPA provisions) sharply decreased by 40.45% year-on-year to ₹106 crore.
Operating expenses increased by 68.81% year-on-year to ₹3,155 crore, largely due to an 80.45% rise in personnel costs to ₹2,104 crore. Other expenses rose by 49.36% to ₹1,050 crore. The sharp increase in personnel costs led to an increase in the cost-to-income ratio to 53.95% from 44.22% the previous year. Srivastava explained this increase by stating that the bank made a conscious decision to allocate nearly ₹1,100 crore in this quarter for personnel-related provisioning, covering the needs of the next three quarters.
Regarding asset quality, Gross Non-Performing Assets (GNPA) as of June 2026 stood at ₹4,292 crore, which is 17.11% less than the previous year (₹5,178 crore). Net NPAs decreased by 27.94% to ₹588 crore (from ₹816 crore). The GNPA ratio improved to 1.33% (from 1.97% a year ago and 1.42% in the previous quarter). The Net NPA ratio was 0.18% compared to 0.32% the previous year. The Provision Coverage Ratio (PCR) improved to 97.67% from 97.47% the previous year. The bank's Capital to Risk-weighted Assets Ratio (CRAR) as of June 2026 was 19.36%, higher than 18.28% the previous year.
In terms of business, global loans reached ₹3.22 trillion as of June 2026, showing a year-on-year growth of 22.75%. Meanwhile, total deposits increased by 13.72% to ₹3.76 trillion, bringing the bank's total business volume to ₹6.98 trillion, an increase of 17.72%. The Retail, Agriculture, and MSME (RAM) segment continued to gain share, reaching 81.21% of domestic lending (compared to 73.39% the previous year), with agricultural loans growing by 46.84% and retail loans by 36.49% year-on-year.
Current Account and Savings Account (CASA) deposits grew by 6.61% year-on-year to ₹1.54 trillion. However, the share of CASA out of total deposits (globally) decreased to 41.05% from 43.78% the previous year, as term deposits grew faster. The loan-to-deposit ratio (globally) increased to 85.63% from 79.33%, representing a rise of 630 basis points year-on-year.
The public sector bank Indian Bank, based in Chennai, announced a 10% increase in net profit for the first quarter of the current fiscal year, reaching INR 3,273 crore. In the same quarter of the previous fiscal year, the profit was INR 2,973 crore.
According to the report submitted to the regulator, the bank's total income for the June quarter of 2026-27 increased to INR 20,724 crore compared to INR 18,721 crore in the corresponding period of FY 26. Interest income also improved, amounting to INR 18,090 crore versus INR 16,283 crore a year earlier.
Net Interest Income (NII) grew by 17%, reaching INR 7,435 crore compared to INR 6,359 crore in the June quarter of FY 26. Furthermore, the bank's operating profit rose to INR 5,557 crore from INR 4,770 crore recorded in the same quarter last year.
The bank demonstrated an improvement in asset quality: Gross Non-Performing Assets (NPA) decreased to 1.86% of total loans by the end of June, down from 3.01% a year earlier. Similarly, Net NPAs, or bad loans, reduced to 0.15% compared to 0.18% in the previous year.
As a result of these changes, provisions for bad loans were reduced to INR 376 crore in the first quarter, down from INR 387 crore a year ago. The Provision Coverage Ratio (PCR) remained unchanged at 98.2% during the quarter.
The Return on Assets (ROA) improved to 1.34% for June 2026, whereas it was 1.03% in June 2025. Meanwhile, the bank's capital adequacy ratio decreased to 17.80% from 17.99% in the same quarter of FY 26.
