Lupin Ltd reports 16% net profit growth in the first quarter of fiscal year 2027

The State Bank of India (SBI), the country's largest lender, announced a 13.73 percent increase in consolidated net profit for the June quarter, reaching INR 24,113 crore.

Previously, the bank recorded a net profit of INR 21,201.47 crore for the year and INR 19,642.87 crore in the previous March quarter.

According to regulatory filings, on an individual basis, the bank's net profit increased by 10.23 percent compared to last year, amounting to INR 21,121.22 crore, compared to INR 19,160.44 crore for the period April-June 2025.

Total income grew to INR 1.43 trillion from INR 1.35 trillion a year earlier, while total expenses increased to INR 1.10 trillion compared to INR 1.04 trillion.

Provisions for bad assets decreased to INR 3,359 crore in the June quarter, down from INR 4,934 crore a year ago, but they were higher than INR 3,140 crore in the preceding quarter.

The gross non-performing asset ratio improved to 1.47 percent as of June 30, 2026, up from 1.49 percent at the end of March and 1.83 percent a year earlier.

The bank's overall capital adequacy ratio stood at 15.67 percent as of June 30, including a base buffer of 12.89 percent.

SBI shares traded on the BSE with a gain of 2.13 percent at a price of INR 1,108.

Jindal Stainless Ltd announced a year-on-year increase in consolidated net profit by 7.6%, reaching INR 769 crore in the June quarter, driven by increased revenue. In the same quarter last year, the company recorded a net profit of INR 715 crore, according to the report filed with the stock exchange.

The company's operating revenue grew by 10.5% year-over-year (YoY), amounting to INR 11,279 crore in the first quarter of fiscal year 2027, compared to INR 10,207 crore for the April-June period of the previous fiscal year. As of the end of June, the company's consolidated net debt reached INR 2,950 crore.

Abhidhuday Jindal, Managing Director of Jindal Stainless, noted that the company's results remained resilient despite an extremely dynamic operating environment characterized by supply chain disruptions and changing global trade conditions.

The company reported that in the initial weeks of the quarter, there were disruptions in the supply of industrial gases due to a crisis in West Asia. The company's management proactively mitigated this impact by increasing the use of liquefied natural gas to compensate for the limited availability of propane and LNG.

Despite the measures taken to address the issues, the company had to temporarily reduce production across all manufacturing units. Nevertheless, the company reported sales of finished products amounting to 580,805 metric tons in the first quarter of fiscal year 2027 and maintained healthy financial growth through sustained activity in the value-added product segment.

Export business remained stable amid the complex global situation. A diversified portfolio of markets, which includes expanding opportunities in South Korea, Japan, and Brazil, as well as a constant presence in Europe and the US, helped keep exports at 11% of total sales.

During the media call, Jindal emphasized the need to control growing imports from certain countries, particularly China. He stated that such import flows create challenges for domestic investment amidst rising demand for stainless steel in India, and called on the government not to extend Quality Control Orders (QCOs).

The statement noted that the company's strong performance was driven by steady demand in key end-use sectors, including transportation, infrastructure, manufacturing, and consumer sectors. The automotive segment continued to be a strong growth driver, and volumes of special grades also increased in the first quarter of fiscal year 2027. Furthermore, healthy sales growth was observed in the consumer goods and metro projects segments during the quarter, while demand from the railway sector remained constant. The company also received orders for specialized grades of stainless steel for the energy and oil and gas sectors.