Coal India's second-quarter profit rose by 57% to 6,547 crore rupees due to increased revenue

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.

Jindal Steel reported an increase in consolidated net profit of over 21 percent, reaching 771 crore rupees in the September quarter of the current fiscal year. This growth was attributed to an increase in sales volumes. The company, owned by Navin Jindal, previously reported a net profit of 1,646 crore rupees in the second quarter of the previous fiscal year.

In the period from July to September of the 2027 fiscal year, the company's total revenue increased to 15,289.20 crore rupees, which is 26 percent higher than 12,119.03 crore rupees in the second quarter of the 2026 fiscal year. Furthermore, the company stated that its gross revenue (including GST and other income) grew by 44 percent, amounting to 19,448 crore rupees compared to 13,505 crore rupees in the same period of the 2026 fiscal year.

Jindal Steel explained the growth in gross revenue by stating that it increased by 9 percent quarterly due to higher sales volumes and improved mixed realization. The average selling price consistently rose due to a larger share of flat products in the total sales volume and a smaller volume of TMT in long products.

The share of domestic demand was 92 percent of the total sales volume. As of the end of the September quarter, consolidated net debt reached 14,786 crore rupees, down from 15,927 crore rupees recorded in the June quarter. The net debt to EBITDA ratio improved to 1.51x from 1.71x for the same period. Capital expenditure during the quarter was 1,228 crore rupees.

Production remained stable at 2.40 million tonnes throughout the quarter, despite the monsoon season, showing a 20 percent year-on-year growth compared to the production of 2 million tonnes in July-September 2026 fiscal year. Sales volume increased to 2.38 million tonnes, aided by inventory liquidation, which is 27 percent higher than the 1.87 million tonnes sold in the second quarter of the 2026 fiscal year.

During the quarter, Jindal Steel commissioned a 192 km slurry pipeline between Barbil and Angul, which supports India's largest iron ore slurry production and pumping complex with a capacity of 18 million tonnes per year. This integrated system ensures efficient transportation of iron ore from Barbil to Angul, strengthening raw material logistics while reducing road congestion, fuel consumption, and associated emissions.

The company was also listed in the Guinness Book of Records for the longest stretch of road built exclusively from recycled steel slag in Chhattisgarh. This four-lane road, measuring 1.85 km, developed in collaboration with CSIR-CRRI in Raigarh, demonstrates the productive use of steel slag in road infrastructure and promotes the company's circularity agenda.

The State Bank of India reported on Saturday a rise in net profit of 21.1% year-on-year (Y-o-Y) to 1469 crore rupees in the second quarter of the financial year 27. This figure is higher than 1213 crore rupees the previous year, and the growth was driven by a strong increase in Net Interest Income (NII), despite higher reserves and lower treasury income.

In terms of sequential growth, net profit increased by 10.95% compared to 1324 crore rupees in the previous quarter. For the first half of the financial year 27, the bank recorded a net profit growth of 17.25%, reaching 2793 crore rupees compared to 2382 crore rupees the previous year.

The bank's Net Interest Income (NII) grew by 26.3% year-on-year, amounting to 4146 crore rupees compared to 3283 crore rupees in the same quarter last year. Sequentially, NII increased by 5.9% compared to 3914 crore rupees in the first quarter of financial year 27.

Interest income increased by 18.45% year-on-year, reaching 10357 crore rupees, supported by a 27.6% growth in interest income on issued loans to 7231 crore rupees. Meanwhile, interest expenses rose by 13.7% to 6211 crore rupees.

Net Interest Margin (NIM) improved to 3.01% from 2.89% the previous year. Deposit costs decreased by 28 basis points (bps) to 4.60%, which offset a 49 bps drop in loan yield to 7.87%.

Operating profit increased by 26.99% year-on-year, reaching 2268 crore rupees compared to 1786 crore rupees, as higher NII compensated for a decline in non-interest income. Sequentially, operating profit grew by 3.75% from 2186 crore rupees.

Non-interest income fell by 6.06% year-on-year to 1380 crore rupees, with treasury income dropping by 31.2% to 128 crore rupees from 186 crore rupees the previous year. Profit from investment sales decreased by 30% to 133 crore rupees, while the bank recorded a loss of 87 crore rupees on investment revaluation, compared to a loss of 51 crore rupees the previous year.

Provisions for written-off accounts and other receipts decreased by 8.2% to 617 crore rupees, while fee-based income rose by 3.9% to 635 crore rupees.

Reserves and contingencies, including income tax, increased by 39.4% year-on-year, reaching 799 crore rupees compared to 573 crore rupees the previous year. However, they decreased sequentially by 7.3% from 862 crore rupees.

Non-Performing Assets (NPA) reserves rose to 490 crore rupees from 143 crore rupees the previous year, and standard asset reserves increased to 379 crore rupees from 30 crore rupees. This was partially offset by the recovery of 336 crore rupees on investments, including promissory notes. The tax reserve decreased to 236 crore rupees from 259 crore rupees.

Operating expenses increased by 9.8% year-on-year, reaching 3258 crore rupees, with personnel costs rising by 9.5% to 2072 crore rupees, and other operating expenses increasing by 10.5% to 1186 crore rupees. The cost-to-income ratio improved to 58.95% from 62.42% the previous year.

Regarding asset quality, the bank's gross NPA ratio improved to 2.39% as of September, compared to 2.60% in June and 3.01% the previous year. The net NPA ratio decreased to 0.31% from 0.49% in the previous quarter and 0.48% the previous year. Absolutely, gross NPAs amounted to 9109 crore rupees as of September 30, compared to 8827 crore rupees the previous year and 9225 crore rupees in June. Net NPAs decreased to 1146 crore rupees from 1364 crore rupees in the corresponding period last year.

The provisioning coverage ratio improved to 97.16% from 95.86% in June and 96.88% the previous year. New write-offs decreased to 734 crore rupees during the quarter compared to 939 crore rupees in the first quarter of financial year 27. The write-off ratio was 0.24% on an annual basis, which is 6 bps lower year-on-year. Nevertheless, the annual loan cost increased by 32 bps year-on-year to 0.53%.

In the business segment, global loans grew by 29.83% year-on-year to 3.81 trillion rupees, while global deposits increased by 14.41% to 5.09 trillion rupees. Total global business grew by 20.54% to 8.90 trillion rupees.

Corporate loans increased by 42.05% to 1.19 trillion rupees, and retail, agriculture, and MSME loans grew by 21.11% to 2.54 trillion rupees. Retail loans grew by 24.49%, with housing loans increasing by 13.07% and auto loans by 13.09%.

The Current Account Savings Account (CASA) ratio decreased by 218 bps to 44.65%, while the lending to deposit ratio increased to 75.02% from 66.20% the previous year.

The bank's capital adequacy ratio stood at 17.68% as of the end of September, compared to 17.34% the previous year and 18.28% in June. The Tier 1 capital ratio improved to 15.97% from 14.98% the previous year.