Showcasing a sharp earnings turnaround on asset quality improvements, robust margins and strong loan book growth in a multi-year credit upcycle, the combined net profit of all 12 PSU banks has zoomed nearly 4.5 times in just 3 years to record high levels of Rs 141,203 crore in FY24. On a year-on-year basis, the profit … Read more
Varun Beverages on Monday reported a consolidated net profit of Rs 548 crore, rising 25% year-on-year (YoY) for the quarter ended March 31, 2024, as compared to Rs 439 crore reported in the year-ago period. The revenue from operations for the reported quarter stood at Rs 4,398 crore which was up by 11.2% YoY over … Read more
Tata Motors, India’s largest automaker by revenue, trumped Street expectations with amore than threefold surge in net profit in the March quarter propelled by strong performances across its three business verticals. The parent of British luxury carmaker Jaguar Land Rover Automotive Plc reported a net profit of Rs 17,528 crore in the three months ended … Read more
Mumbai: Shares of the National Stock Exchange surged by more than 25% in the unlisted market this week following a 4:1 bonus announcement last Friday. According to brokers dealing with the unlisted shares, the stock was trading at around ₹4,300-4,400 last week and is currently trading in the ₹5,400-5,800 range. At ₹5,500, NSE is valued … Read more
MUMBAI: Piramal Enterprises (PEL), the non-banking finance company of the real estate and pharma group swung to a profit in the March quarter helped by a large tax write-back even as higher funding costs and continued paring of its wholesale loan book pressured earnings. The consolidated net profit was 137 crore from a loss of … Read more
Canara Bank on Wednesday posted 18% growth in its standalone net profit at Rs 3,757 crore for the quarter ended March 2024. The same stood at Rs 3,174 crore in the last year period. Net interest income (NII) for the reporting quarter increased 11% year-on-year (YoY) to Rs 9,580 crore. The company’s Board has also … Read more
CarTrade Tech shares jumped 14% to the day’s high of Rs 857.80 on the NSE on Monday after the multi-channel auto platform reported its highest ever revenue of Rs 161 crores for the quarter ended March 31, 2024, registering a 38% year-on-year growth. The profit after tax (PAT) for the reported quarter stood at Rs … Read more
Mumbai: Mahindra & Mahindra Financial Services reported a 10% year-on-year fall in profit in the quarter to March amid a sharp rise in provisions and higher finance costs. Standalone net profit fell to ₹619 crore in the quarter from ₹684 crore a year ago, largely as total provisions increased to ₹341 crore in March 2024 … Read more
New Delhi: Maruti Suzuki India, the country’s largest carmaker, Friday reported record revenue, profit and vehicle sales for the quarter as well as the financial year ended March, helped by robust demand for higher-margin sport utility vehicles (SUVs). Lower commodity prices and a cost-cutting drive also aided the financials of the carmaker which has popular … Read more
Mumbai: Bajaj Finserv reported a 20% increase in net profit for the quarter to March to ₹2,119 crore, from ₹1,769 crore a year earlier, mainly on account of an increase in profit at its non-banking finance arm, Bajaj Finance. The holding company of various financial services within the Bajaj group proposed a dividend of ₹1 … Read more
