Companies Quarterly Results

The company also appointed Vinita Bali, former managing director and chief executive officer of Britannia Industries, as a new independent director, effective February 24, 2020

Analysts have slashed their earnings expectation by 12 - 15 per cent for the lender

The company will be issuing shares to its promoter entity Cholamandalam Financial Holdings Ltd to raise around Rs 300 crore in one or more tranches

The stock closed lower by 0.7 per cent at Rs 712.7 per share on BSE

The bank said its advances rose by 20 per cent to Rs 59,635 crore. The loan mix showed a retail share of 51 per cent while that of wholesale was 49 per cent.

Slow pace of new contracts remains a concern despite revenue growth

Its consolidated revenue stood at Rs 1,203 crore during December quarter as against Rs 1,335 crore in the corresponding quarter of 2018-19

During the quarter, operating margin of the L&T Group company improved 70 basis points to 16.2 per cent, owing to favourable cross-currency movement

Sequentially, net profit declined 24.79 per cent as it registered a profit of Rs 972 crore in Q2

The figure was Rs 985 crore in the same quarter a year before

The Bengaluru-headquartered company's revenues grew around 10 per cent to Rs 1,965 crore for the quarter ended December

At the operating level, analysts see a dip in margin due to higher discounts and adverse working capital owing to weak demand

Combined earnings plunge 68% YoY to Rs 36,500 crore

Gross profit margin slipped to 20.8% during the quarter under review from 21.6% in the year-ago previous quarter owing to higher expenditure, which grew by 19%

The Q4 earnings result season will kick off from next week

Last week, fears of higher NPA levels in the banking sector pulled the key indices lower

Techno Electric had pre-tax profit of Rs 94 cr in Q1, compared to Rs 66 cr in the preceding quarter