Leading Indian companies, including banking giants HDFC Bank and ICICI Bank, revealed their financial results for the first quarter of fiscal year 2026 on July 19, showing a mix of gains and losses across sectors.
Major Banks Post Mixed Results
ICICI Bank reported a robust performance, with its consolidated net profit jumping by 15.9 percent to Rs 13,558 crore for the June quarter. On a standalone basis, the bank’s net profit also rose significantly to Rs 12,768 crore, marking a 15.5 percent increase year-over-year.
In contrast, HDFC Bank saw a slight decline in its consolidated net profit, which fell by 1.31 percent to Rs 16,258 crore. However, the country’s largest private sector lender showcased a stronger standalone net profit, reaching Rs 18,155 crore, up from Rs 16,174 crore a year ago.
Other Financial Institutions Show Varied Outcomes
Punjab & Sind Bank announced a substantial 48 percent surge in its net profit to Rs 269 crore, driven by improved core income and reduced bad debts. Similarly, AU Small Finance Bank registered a 16 percent growth in net profit, hitting Rs 581 crore for the quarter.
Central Bank of India also posted a strong 33 percent increase in net profit, reaching Rs 1,169 crore, thanks to better core income and a decline in non-performing assets. Union Bank of India followed suit with a 12 percent rise in net profit, standing at Rs 4,116 crore.
However, RBL Bank experienced a challenging quarter, with its net profit dropping by 46 percent to Rs 200 crore. This decline was primarily due to pressures on its core income and a significant drop in its net interest margin.
Cement Sector Performance
In the cement industry, JK Cement Ltd reported an impressive 75.4 percent increase in consolidated net profit, reaching Rs 324.25 crore. The company’s revenue from operations also saw a healthy rise of 19.4 percent, indicating strong demand and operational efficiency.
On the other hand, India Cements Ltd, now part of the Aditya Birla Group, posted a consolidated net loss of Rs 132.90 crore for the quarter. This marks a notable shift from a net profit reported in the same period last year, with its revenue from operations also slightly dipping.
Energy and Hospitality Updates
Reliance Power turned a corner, reporting a consolidated net profit of Rs 44.68 crore for the quarter. This is a significant improvement from the Rs 97.85 crore loss it incurred in the previous fiscal year’s first quarter, primarily due to expense reduction.
Oriental Hotels Ltd, an associate company of The Indian Hotels Company Ltd, also had a positive quarter. The hospitality firm reported a standalone profit of Rs 8.71 crore, a substantial increase from Rs 3.64 crore in the corresponding period last year.
- ICICI Bank and JK Cement reported significant profit jumps.
- HDFC Bank showed a mixed performance with consolidated profit decline but standalone growth.
- Public sector banks like Punjab & Sind Bank, Union Bank, and Central Bank of India improved profitability.
- India Cements and RBL Bank faced profit declines or losses.
These early Q1 FY26 results offer a snapshot of India’s corporate health, reflecting varied sector-specific dynamics and market conditions.
