LIC Housing Finance Ltd reported a 43 per cent year-on-year (Y-o-Y) increase in net profit, reaching Rs 1,323.66 crore for the first quarter ending June 2023 (Q1FY24). The company attributed this growth to a strong performance in net interest income (NII) and improved margins. LIC’s NII for the reported quarter escalated by 39… Continue reading LIC HFC Q1 net profit rises 43% YoY at Rs 1,323.6 crore; NII up 39%
Tag: rises
Eicher Motors Q1 net rises 50%, lines up Rs 1K cr capex for Royal Enfield
Eicher Motors, the parent company of Royal Enfield motorcycles, has reported a 50 per cent increase in its net profit for the first quarter of the current financial year, hitting a record Rs 918 crore. This is compared to Rs 611 crore during the same period in 2022-23, an increase driven by a rise… Continue reading Eicher Motors Q1 net rises 50%, lines up Rs 1K cr capex for Royal Enfield
Net profit rises 224.7% on better NIMs
Illustration: Ajay Mohanty Private sector lender Karnataka Bank’s net profit rose by 224.66 per cent Year on Year (YoY) to Rs 370.7 crore in the quarter ended June 2023 (Q1Fy24) on improvement in net interest Margin (NIM) and non-interest income. Its net interest income expanded by 18.5 per cent in the reporting quarter… Continue reading Net profit rises 224.7% on better NIMs
Varun Beverages rises 3% on strong Q2 results; stock up 26% so far in 2023
Shares of Varun Beverages Limited (VBL) rallied 3 per cent to Rs 832 apiece in Thursday’s intra-day trade, after the company’s revenue rose 13 per cent year-on-year (YoY) to Rs 5,611 crore in the second quarter of calendar year 2023 (Q2CY23). So far this year, the stock of beverage player surged 26… Continue reading Varun Beverages rises 3% on strong Q2 results; stock up 26% so far in 2023
Net profit rises 26.2% YoY, revenue up 13.5%
Varun Beverages Ltd on Thursday reported a 26.2 per cent jump in its consolidated net profit to Rs 9,938.11 crore in the quarter that ended on June 30 as compared to Rs 7,874.38 crore in the same quarter last year. As compared to Rs 4,290.72 crore in the previous quarter that ended on March… Continue reading Net profit rises 26.2% YoY, revenue up 13.5%
July PMI services rises sharpest since June 2010 on robust global demand
India’s services sector growth jumped to its highest pace in over thirteen years in July, according to a private survey. According to S&P Global, India’s services purchasing managers’ index (PMI) grew to its highest level since June 2010 to 62.3 in July. A reading above 50 shows an expansion in the sector. The… Continue reading July PMI services rises sharpest since June 2010 on robust global demand
Goodyear India’s Q1 profit rises as low rubber prices offsets weak demand
BENGALURU (Reuters) – Tyre manufacturer Goodyear India reported a higher quarterly profit as a drop in raw material prices helped make up for its first revenue fall in 12 quarters on low demand. The Indian unit of U.S.-based Goodyear Tire and Rubber Co said standalone profit rose 4% to 392.6 million rupees ($4.8… Continue reading Goodyear India’s Q1 profit rises as low rubber prices offsets weak demand
Gold price rises Rs 160 to Rs 60,440, silver price jumps Rs 1,000
The price of 24-carat gold rose Rs 160 during Wednesday’s early trade, with ten grams of the precious metal selling at Rs 60,440 according to the GoodReturns website. Silver price jumped Rs 1,000 with 1 kg of the precious metal selling at Rs 78,000. The price of 22-carat gold rose Rs 150 with… Continue reading Gold price rises Rs 160 to Rs 60,440, silver price jumps Rs 1,000
Corporation tax mop-up slips 14%; total tax collection in Q1 rises 3.38%
Premium The decline in the third month slowed due to the advance tax collections that month. Collections from the corporation tax declined nearly 14 per cent year-on-year (YoY) to Rs 1.38 trillion in the first quarter of this financial year (Q1FY24), from Rs 1.61 trillion, despite signs of economic recovery. The revenue under this… Continue reading Corporation tax mop-up slips 14%; total tax collection in Q1 rises 3.38%
Retail inflation for industrial workers rises in June due to higher prices
Retail inflation for industrial workers inched up to 5.57 per cent in June compared to 4.42 per cent in May this year, mainly due to higher prices of certain food items. “Year-on-year inflation for the month stood at 5.57 per cent compared to 4.42 per cent for the previous month (May) and 6.16… Continue reading Retail inflation for industrial workers rises in June due to higher prices