Finshorts
Punjab & Sind Bank posted a 147% jump in net profit to ₹282 crore for Q3 FY25, supported by a sharp reduction in bad loans. Gross Non-Performing Assets (NPAs) fell to 3.83%, and net NPAs declined to 1.25%. Interest income rose 17.7% year-on-year to ₹2,931 crore, while the bank raised ₹3,000 crore via infrastructure bonds. … Read more
L&T Technology Services reported a 4.1% decline in net profit to ₹322.4 crore for the December 2024 quarter, impacted by narrower profit margins. Revenue rose 9.5% year-on-year to ₹2,653 crore. Operating margin dropped to 15.9% due to salary hikes and acquisition costs. The company aims to achieve 17-18% margins in the medium term, with growth … Read more
HDFC Life reported a 14% increase in net profit to ₹415 crore for the December quarter, compared to ₹365 crore a year ago. However, total income fell sharply to ₹16,914 crore from ₹26,694 crore. The solvency ratio dipped slightly to 188%, still above the regulatory requirement of 150%. Investors may focus on profitability growth despite … Read more
ITC Ltd has demerged its hotel business, with ITC Hotels set to list in the next few weeks. Shareholders will own 60% of the new entity. ITC plans to expand its hotel portfolio from 140 to 200 properties, focusing on an asset-light model. Overseas growth will target nearby markets like West Asia. This move could … Read more
The rupee strengthened for the second session, settling at 86.40, up 13 paise against the US dollar, aided by a rebound in domestic equities and lower crude oil prices. A softer dollar index and easing US treasury yields further supported gains. However, sustained foreign institutional investor outflows capped sharper appreciation. Analysts expect the rupee to … Read more
Bank of Maharashtra posted a 36% rise in net profit to Rs 1,406 crore in Q3 FY25, driven by higher interest income of Rs 6,325 crore, up from Rs 5,171 crore a year ago. Gross Non-Performing Assets fell to 1.8%, with a strong Provision Coverage Ratio of 98.28%. The bank also raised Rs 3,500 crore … Read more
Aditya Birla Fashion and Retail Ltd (ABFRL) will raise Rs 2,378.75 crore via equity issuance. The board approved Rs 1,297.50 crore from promoter entity Pilani Investment at Rs 317.45 per share and Rs 1,081.25 crore from Qualified Institutional Buyers at Rs 272.37 per share. Funds will support growth and expansion plans.
The upcoming budget could introduce higher import tariffs to address the rupee’s sharp decline to a historic low of 86.70 against the US dollar. This move aims to reduce dollar demand from importers, stabilize the currency, and boost domestic industry. Such a policy aligns with Atmanirbhar Bharat’s objectives and could also increase import duty revenues, … Read more
HDFC Asset Management Company posted a 31% year-on-year rise in profit after tax to Rs 641.5 crore for Q3 FY25, supported by a 39% jump in revenue to Rs 934.3 crore. The company’s robust asset base of Rs 7.87 lakh crore highlights strong operational growth. Shares closed 0.72% higher at Rs 3,863.70, reflecting positive investor … Read more
Vodafone Idea has partnered with HCLSoftware to enhance its 4G and 5G network efficiency using HCL Augmented Network Automation (HCL ANA). This AI-driven platform optimizes multi-vendor networks, reduces energy costs, and improves performance. The collaboration is expected to enhance service reliability, reduce operational dependency, and support cost-saving measures, potentially aiding Vodafone Idea’s financial stability amid … Read more