Loan losses & provisions up 69% on muted collection efficiencies
The company's revenue as per IFRS grew by 31.4% YoY in constant currency to $254.5 million in Q1 FY25 from $196.7 million in Q1FY24
The chemicals industry has been grappling with high inventory and destocking for the past few quarters, leading to continuous pressure on volume and margins, according to analysts
The company said its consolidated net profit fell to Rs 89.82 crore ($10.7 million) in the quarter ended June 30 from Rs 108 crore a year ago
Amid the sluggish deposit growth in the system, the bank seems to have ducked the trend with a 41 per cent growth in the number
QIP likely in Q2 or Q3 for capital raise
Improvement in margins was achieved due to a decline in raw material prices, coupled with economies of scale resulting from higher execution during the quarter, Chairman of the company said
The Kolkata-based bank's total business grew 11.46 per cent on-year to Rs 461,408 cr, while gross advances increased 17.64 per cent to Rs 193,253 cr, it said in a statement
The combined net profit of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters
Weakness in demand evident, discretionary spends similar: IT majors
Total income also increased to Rs 153.21 crore during the reported quarter from Rs 60.2 crore in June 2023 quarter
Its revenue from operations edged up 1.62 per cent at Rs 2,807.57 crore during the quarter under review. It was Rs 2,762.63 crore a year ago
The bank's total revenue rose by 19 per cent Y-o-Y to Rs. 2,505 crore
The bank's deposit growth came at 18 per cent during the quarter and was attributed to the differentiated offerings by its managing director and chief executive R Subramaniakumar
HDFC Bank Q1 result: Sequentially, net profit of the lender is down 2%
Kotak Mahindra Bank Q1 results: The bank's deposits grew by 21 per cent Y-o-Y to Rs 4.35 trillion at the end of June 2024
Its provisions declined by 41.2 per cent to Rs 212 crore in Q1 FY25, from Rs 360 crore in the year-ago period. Sequentially, provisions declined from Rs 471 crore in Q4 FY24
The total income also rose to Rs 1,441.95 crore in the April-June period of 2024-25 from Rs 933.56 crore in the corresponding period of the previous year, according to a regulatory filing on Friday
Misses Q1 earnings estimates despite gains in consumer, upstream segments
Profit before interest, depreciation and tax, the company said, was at Rs 3,205 crore compared to Rs 3223 crore a year ago