Results of many companies have been revealed on Friday. Meanwhile, Reliance Industries has released its third quarter figures. Reliance Industries of the Oil-to-Telecom Group reported a 12.5% increase in net profit for the quarter ended December 31, 2020 on Friday. This has earned the company a profit of Rs 13,101 crore.
This profit was Rs 11,640 crore in the same period last year. With this, the company’s revenue fell by 22% to 1.23 lakh crore, which was 1.57 lakh crore in the year-ago period. On the last day of the week, the stock market recorded a huge decline. The Sensex slipped 746 points and reached below 49 thousand. During the business, it once crossed the 50 level on Thursday. In such a situation, on Friday, the stock of the company closed 2.45% at Rs 2,047.95 on the NSE.
YES BANK boosts net profit
YES BANK released the results for the December quarter today. There was a 16.5 per cent increase in net profit on a quarterly basis. The company’s net profit for the December quarter stood at 151 crores. The company’s net profit for the quarter ended September 30 was 129 crores. In the same month as last year, the bank had a huge loss of 18560 crores. The bank’s gross NPA stood at 15.4 per cent, while net NPA stood at 4 per cent. The bank’s net interest income doubled to 2560 crore, which is almost double from the same quarter last year.
18 percent drop in V-Mart’s profit
Multi-brand retail chain company V-Mart Retail reported on Friday that its net profit fell 17.77 per cent to Rs 47.87 crore for the quarter ended December 31, 2020 due to lower income. The company had earned a net profit of Rs 58.22 crore in the same period of 2019-20. V-Mart said in the regulatory information given to BSE that its total income during October-December 2020 was Rs 470.30 crore, compared to Rs 562.58 crore in the same period last year. V-Mart stated that the Covid-19 epidemic had a significant impact on the company’s operating and financial results in the period and quarter ended December 31, 2020.