PNB Housing Finance profit grew by 6% in the second quarter to 617 crore rupees

Indian Overseas Bank (IOB), based in Chennai, reported a 56% increase in net profit during the second quarter of the fiscal year 27, reaching 1963 crore rupees. This growth compared to 1259 crore rupees in the quarter from July to September of fiscal year 26, and is attributed to increased interest income and improved asset quality.

The bank's total income for the reporting period increased by 13%, amounting to 10,428 crore rupees. IOB's interest income in Q2 FY27 rose by 17% to 9,201 crore rupees, compared to 7,851 crore rupees in the same period last year.

Ajay Kumar Srivastava, Managing Director and CEO of IOB, noted that net interest income grew by 26% during the quarter. He also highlighted the good asset quality and low write-off levels in the system.

Net Interest Income (NII) for the quarter increased by 26.4% to 3,867 crore rupees, compared to 3,059.3 crore rupees a year earlier. Srivastava added that write-offs remained under control at 240 crore rupees, and the provisioning ratio was only 0.07%, which is one of the lowest in the banking system, and the bank consistently maintains this figure.

The Non-Performing Asset (NPA) ratio decreased by 64 basis points (bps) year-on-year (Y-o-Y) to 1.19%, while the Net NPA ratio fell by 12 bps year-on-year to 0.16%. Credit costs also decreased by 1 bp year-on-year to 0.17%. During the quarter, 647 crore rupees were recovered against NPAs, which is 2.95 times higher than quarterly write-offs. The Capital to Risk-Weighted Assets Ratio (CRAR) increased by 66 bps year-on-year to 18.60%. Return on Assets (RoA) improved to 1.53% from 1.20% last year, which is 33 bps higher. Return on Equity (RoE) grew to 24.58% from 19.95% last year, an increase of 463 bps.

The bank's total deposits increased by 20.16% to 4.07 trillion rupees from 3.39 trillion rupees. Current Account Savings Account (CASA) deposits also grew by 20.73% year-on-year to 1.65 trillion rupees, and the internal CASA ratio improved by 13 bps year-on-year to 41.14%. The volume of loans disbursed in Q2 FY27 reached 3.45 trillion rupees, showing a growth of 24.35% compared to 2.77 trillion rupees last year.

Srivastava stated that, according to preliminary estimates, IOB will require additional provisioning of about 2,600–2,800 crore rupees under Expected Credit Losses (ECL). He clarified that the bank has already created ECL provisions of about 2,700 crore rupees, meaning that 100% of the required amount is already secured in the balance sheet as projected ECL reserves.

Furthermore, he mentioned the successful performance of the gold loan portfolio and the development of several programs to meet the needs of various segments of society with competitive interest rates. Srivastava added that the jewelry loan portfolio is very sound, with outstanding loans amounting to nearly 1.36 trillion rupees, and shows no signs of stress. The bank maintains a Loan-to-Value (LTV) ratio of about 60–62%, which adequately accounts for price fluctuations.

ITC Hotels Limited reported significant growth in its performance for the second quarter of the fiscal year 2027 (Q2FY27). The company's consolidated net profit increased by 52% year-on-year, reaching 203 crore rupees, compared to 133 crore rupees the previous year. Meanwhile, operating revenue grew by 26%, amounting to 1,054 crore rupees versus 839 crore rupees in the previous year.

Total income in Q2FY27 reached 1,106 crore rupees, which is 25% more than 885 crore rupees in Q2FY26. The Board of Directors of ITC Hotels approved the establishment of a wholly-owned subsidiary in Dubai, United Arab Emirates, pending necessary regulatory approvals.

The proposed structure will engage in hotel business, restaurants, and other related activities. According to a separate regulatory filing, the necessary permits for establishing this structure will be obtained from the relevant authorities in Dubai. After registration, the company plans to acquire 100% of the equity capital of the proposed structure with a nominal value not exceeding 20 crore rupees, which will be introduced in tranches.

Furthermore, the EBITDA metric showed a year-on-year increase of 37%, rising to 337 crore rupees from 246 crore rupees. The EBITDA margin improved to 32%, up from 29% in the same period last year. Revenue Per Available Room (RevPAR) for the July-September quarter grew by 21% compared to last year, driven by increases in occupancy and Average Room Rate (ARR).

Currently, the company manages 243 hotels with 23,266 rooms, including 156 operational and 87 under development. By 2031, the company intends to increase the number of operational hotels to 250 with over 22,000 active rooms. The launch of the Kumarakom resort is also planned for December of this year, and Welcomhotel Ahmedabad is expected to be renovated within the next six months.

The consolidated net profit of Union Bank of India increased by 30.6% year-on-year, reaching 5,781 crore rupees in the quarter ending September 30, 2026. This figure was up from 4,425.95 crore rupees and was driven by an increase in net interest income and a sharp reduction in provisions.

Net interest income, calculated as interest earned minus interest paid, grew by 20.2% to 10,765.32 crore rupees, compared to 8,957.92 crore rupees. Meanwhile, interest income rose by 8.3% to 28,377.73 crore rupees, while interest expenses increased more slowly—by only 2.1%—to 17,612.41 crore rupees.

Sharp reduction in provisions by almost 50 percent

Operating profit before provisions and unexpected expenses rose by 19.1%, amounting to 8,150.96 crore rupees compared to 6,844.79 crore rupees. Provisions and unexpected expenses, excluding taxes, decreased by 49.6%, falling from 1,392.28 crore rupees to 702.19 crore rupees. However, provisions specifically set aside for non-performing assets increased by 15%, reaching 596.48 crore rupees.

Profit before tax increased by 36.6%, totaling 7,448.77 crore rupees. Tax expenses grew by 60.4% to 1,878.37 crore rupees. The bank's share of profit from affiliates increased by 45.6% to 210.60 crore rupees. Basic and diluted earnings per share rose to 7.57 rupees from 5.80 rupees.

Total income increased by 5.4% to 33,471.29 crore rupees, while other income decreased by 8.2% to 5,093.56 crore rupees. Total expenses, excluding provisions and unexpected expenses, rose by 1.6% to 25,320.33 crore rupees. Union Bank's operating margin improved to 24.35% from 21.55%, and net profit margin rose to 17.27% from 13.94%.

Credit growth outpaces deposit growth

Consolidated loans grew by 19.4% year-on-year to 1,136,280.44 crore rupees as of September 30, 2026, compared to 951,795.76 crore rupees. Deposits increased by 6.9%, reaching 1,322,309.68 crore rupees from 1,237,049.70 crore rupees. The consolidated capital adequacy ratio improved by 91 basis points, standing at 18.61% compared to 17.70%. The Tier 1 capital ratio increased by 171 basis points to 16.72%. Net capital grew by 14.6% to 134,105.53 crore rupees from 117,044.78 crore rupees.

Corporate banking results nearly doubled

Income from corporate and wholesale banking services increased by 11.3%, reaching 12,451.29 crore rupees. The result of this segment grew by 98.2%, amounting to 2,849.34 crore rupees. Retail banking income rose by 9.7% to 12,532.78 crore rupees, and the segment's result increased by 56.2% to 2,514.73 crore rupees. Income from the trading division decreased by 9.7% to 6,886.53 crore rupees, and the segment's result fell by 20.4% to 1,299.55 crore rupees.

For the first half of the fiscal year 27, consolidated net profit increased by 29%, reaching 11,422.52 crore rupees compared to 8,853.90 crore rupees.