Five NIFTY 500 companies have emerged as the only firms to maintain consistent sequential net profit growth over the past two financial years, according to Ace Equity data. Bank of Maharashtra, Indian Bank, Indian Overseas Bank, Karur Vysya Bank, and Poonawalla Fincorp have demonstrated remarkable resilience in their financial performance. As reported by Shriram AMC, the June quarter earnings have largely met Street expectations, with one standout feature being the speed and breadth of recovery from March-end lows, signalling improving business momentum across sectors. However, recent market volatility has extended losing streaks for a fourth consecutive session, with mixed quarterly results across sectors.
The Pune-based state-run lender reported a standalone net profit of ₹2,020 crore at the end of the April-June period, marking a marginal sequential increase from ₹2,014 crore in the previous quarter. According to Ace Equity data, on an annual basis, its net profit rose 27% from ₹1,593 crore in the same period last year. The bank's net profit has been consistently rising from ₹1,293 crore at the end of the June 2024 quarter. Asset quality also showed improvement as gross non-performing assets (NPAs) came in at 1.45% compared with 1.74% in the year-ago period.
The Chennai-based state-run lender's net profit has been growing consistently over the last nine quarters, with the bank reporting a standalone net profit of ₹3,273 crore at the end of Q1 FY27, marking a marginal increase from ₹3,103 crore in the previous quarter. As reported by Ace Equity, on an annual basis, the bank's net profit rose 10% from ₹2,973 crore. The bank's asset quality showed significant improvement as gross NPAs improved to 1.86% compared with 3.01% in the corresponding period last year. In absolute terms, gross NPAs came in at ₹12,710 crore as against ₹18,067 crore.
The Chennai-based PSU bank reported a net profit of ₹1,659 crore at the end of Q1 FY27, marking an increase of 10% from ₹1,505 crore in the previous quarter. According to Ace Equity data, on an annual basis, Indian Overseas Bank's net profit rose 49% from ₹1,111 crore in the same period last year. The bank has been steadily reporting growth since the June 2024 quarter when it reported a net profit of ₹633 crore. Gross NPAs came in at 1.33% in Q1, down from 1.97% in the year-ago period, with absolute gross NPAs at ₹429 crore.
Karur Vysya Bank reported a net profit of ₹756 crore at the end of Q1 FY27, marginally up from ₹725 crore in the previous quarter. As reported by Ace Equity, on annual basis, the private sector lender recorded a 45% jump in net profit from ₹521 crore in the year-ago period. The bank's gross NPAs advanced marginally by 8 basis points to 0.74% in the June quarter, from 0.66% in the same period a year ago. Poonawalla Fincorp reported a net profit of ₹308 crore at the end of Q1 FY27, marking a sequential increase of 21% from ₹255 crore in the previous quarter, with annual growth surging over five-fold from ₹63 crore in the same period last year.
