Sarda Energy & Minerals net profit decreased by 2.2% to 320 crore rupees in the second quarter

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.

Mahindra & Mahindra Financial Services (Mahindra Finance) reported a 55% year-on-year growth in its net profit, reaching 882 crore rupees for the quarter from July to September of fiscal year 27 (Q2FY27).

During this quarter, total income increased by 15% year-over-year to 5,175 crore rupees, and the volume of loans disbursed grew by 22% to 16,499 crore rupees. Meanwhile, the Net Interest Margin (NIM) remained unchanged at 7% in Q2FY27 compared to the same quarter last year.

Assets under management (AUM) increased by 15% year-over-year, reaching 1.46 trillion rupees. The cost of credit losses decreased to 1.6% of average assets in Q2FY27, compared to 2.2% a year earlier.

The asset quality of this Non-Banking Financial Company (NBFC) improved during the reporting period. The proportion of Stage 3 assets decreased from 3.9% to 3.4%, and the proportion of Stage 2 assets fell from 5.8% to 4.7%. Collection efficiency improved to 97% from 96% in Q2FY26.

The company's capital adequacy ratio stood at 18%, with Tier-I capital reaching 16.2%. Diversification beyond vehicle financing continued to gain momentum: the volume of loans disbursed in non-transport segments grew by 52% year-on-year. These areas include MSME lending, personal loans, and other segments, including Mahindra Rural Housing Finance (MRHFL).

Rahul Rebelo, Managing Director and CEO of Mahindra Finance, noted that the second-quarter results provide confidence that the ongoing changes are leading to stronger and more stable business performance. He added that the company is encouraged by the growth rate driven by a 22% increase in disbursements, credit cost control at 1.6%, and 55% profit growth, and maintains focus on disciplined execution of plans until fiscal year 31.

Punjab & Sind Bank reported a significant increase in net profit for the second quarter of the fiscal year 27. Profit rose by 40% compared to the same period last year, reaching 412 crore rupees. This growth was driven by an increase in interest income and an improvement in asset quality.

According to the bank, which is a public sector lender, the net profit for the second quarter ending September 30 was 412 crore rupees. In the same period last fiscal year, the bank earned 295 crore rupees.

The bank's total income in the second quarter increased to 3,747 crore rupees compared to 3,373 crore rupees the previous year. Interest income for the September quarter of fiscal year 27 reached 3,394 crore rupees, whereas it was 2,999 crore rupees in the previous year.

Net interest income for the quarter grew by 22%, amounting to 1,162 crore rupees versus 950 crore rupees in the second quarter of the previous fiscal year. Furthermore, the cost-to-income ratio decreased to 29.19% compared to 61.87% the year before.

The bank's operating profit also increased, reaching 617 crore rupees compared to 505 crore rupees a year ago. Regarding asset quality, gross non-performing assets (NPA) decreased to 2.09% of total outstanding loans as of September 2026, compared to 2.92% the previous year.

Similarly, net NPAs or bad loans reduced to 0.61% as of September 2026, down from 0.83% the previous year. The Provision Coverage Ratio (PCR) rose to 92.48% as of September 30, 2026, showing an increase of 60 basis points compared to 91.88% at the end of September 2025.

The Capital to Risk-weighted Assets Ratio (CRAR) improved to 17.19% from 16.55% at the end of the second quarter of the previous fiscal year.