Adani Wilmar swings to Q1 profit on strong oils, food sales Adani Wilmar reported a first-quarter profit as compared to a year-ago loss, helped by higher sales of its edible oils and foods such as basmati rice, sending its shares up more than 6 per cent in afternoon trading. The company, a joint venture between Indian ports-to-power Adani group and Singapore's Wilmar International, reported a consolidated net profit of 3.13 billion rupees ($37.4 million) for the April-June quarter. That compared with a year-ago loss of 789.2 million rupees. A 2 per cent year-on-year rise in prices of palm oil - a key raw material - helped power an 8% jump in revenue in Adani Wilmar's mainstay edible oil segment. Sales volumes rose 12 per cent in the business, which includes the 'Fortune' brand of oil and accounts for three-fourths of the company's total revenue. Adani Total Gas posts Q1 profit rise on strong CNG demand Adani Total Gas reported a jump in first-quarter profit, helped by strong demand for the cleaner-burning compressed natural gas (CNG), sending its shares 2 per cent higher. The Adani group company's consolidated profit rose 15 per cent to 1.72 billion rupees (around $21 million) in the three months ended June 30, marking its sixth straight rise in quarterly profit. The gas distributor's CNG sales volumes, which account for over half of its total sales, jumped 20 per cent during the quarter with the addition of 24 new stations across the country. HPCL Q1 net profit slumps 90% on fall in refining, fuel margin State-owned Hindustan Petroleum Corporation Ltd (BPCL) reported a massive 90 per cent drop in net profit in the June quarter, as refinery margins fell and a fuel price reduction slashed marketing margins. HPCL reported a consolidated net profit of Rs 633.94 crore in April-June - the first quarter of the current 2024-25 fiscal year - compared to a profit of Rs 6,765.50 crore a year back, according to a stock exchange filing by the company. Net profit also declined sequentially, when compared to an earning of Rs 2,709.31 crore in the January-March period. Indian Bank Q1 net profit rises 41% to Rs 2,403 crore State-owned Indian Bank posted a 41 per cent jump in its net profit to Rs 2,403 crore for the June 2024 quarter due to a decline in bad loans. The Chennai-based lender had earned a net profit of Rs 1,709 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 16,945 crore against Rs 14,759 crore a year ago, Indian Bank said in a regulatory filing. Colgate Palmolive's India arm posts higher Q1 profit on price hikes Colgate Palmolive India reported a 33 per cent rise in first-quarter profit, boosted by price hikes and steady domestic demand. The company's net profit rose to 3.64 billion rupees ($43.5 million) in the April-June period from 2.74 billion rupees a year earlier. Even as Colgate Palmolive raised prices to offset higher raw materials costs, customers continued to prioritise spending on personal care products. Demand in rural markets outpaced growth in urban areas for a second straight quarter, the company said. With inputs from agencies
