RBL Bank Q4 net dives 34%
Small-sized private lender RBL Bank on Tuesday reported a 34 per cent decline in its March quarter profit to Rs 75 crore compared to Rs 114 crore in the year-ago period due to provisioning for possible loan losses that it sees in the retail unsecured segments. The city-based lender's net profit for FY2020-21 increased marginally to Rs 508 crore from the year-ago's Rs 506 crore. Read here
Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported a 288 per cent jump in consolidated net profit to Rs 1,321 crore for the fourth quarter ended March 31, 2021. The country's largest integrated logistics player had clocked a consolidated net profit of Rs 340.21 crore in the corresponding period of the previous fiscal, it said in a BSE filing. Read here
DoT approves telcos' applications for 5G trials
The Department of Telecom on Tuesday approved applications of telecom companies -- Reliance Jio, Bharti Airtel, Vodafone and MTNL -- for conducting 5G trials but none of them will be using technologies of Chinese entities. The list of telecom gear makers approved for trials include Ericsson, Nokia, Samsung, C-DOT and Reliance Jio's indigenously developed technologies. This means that Chinese gear makers will not be part of the 5G trials. Read here
Covid takes down IPL
The Indian Premier League was on Tuesday suspended indefinitely after multiple Covid-19 cases were reported in its bio-bubble.
"The tournament has been suspended indefinitely. We will try to conduct the event in the next available window but this month is unlikely," said league chairman. Read here