Shares of Maruti Suzuki India on Tuesday jumped over 7 per cent even as the company reported a 47.82 per cent decline in consolidated net profit in the third quarter ended December 2021.
Its new business premium growth rate stood at 554.1 per cent in H1FY22
The carmaker said it had more than 240,000 pending customer orders at the end of the third quarter
Analysts warn that soaring prices of raw materials, component shortages and logistical bottlenecks caused by the Covid-19 pandemic are likely to further drive up costs in the current quarter
Revenue from operations during the quarter under review was up 6% to Rs 4,661 crore
Net Interest Income rose 17% YoY basis to Rs 8,653 crore in Q3FY22. Sequentially, it was up 10%
Total expenses were at Rs 298.23 crore, up 45.56% from Rs 204.89 crore in the year-ago period
Indian Energy Exchange posted nearly 39 per cent rise in consolidated net profit to Rs 80.73 crore in the December quarter mainly on the back of higher revenues.
SBI Cards and Payment Services on Monday reported 84 per cent jump in net profit at Rs 386 crore for December quarter 2021-22 on the back of healthy card spends, fall in bad loans and higher income
The bank's net interest income grew 17% YoY to Rs 8,653 cr; asset quality improves
The group had reported a profit after tax of Rs 174.85 crore in the year-round period
Asset quality of the bank improved and its provisions fell 27% to Rs 2,007 in Q3FY22 from Rs 2,742 crore in Q3FY21
The bank reported improvement in gross NPAs ratio at 4.13% from 4.38% at the end of the third quarter of the previous year
However, the bank has lowered the guidance for credit growth in FY22 to 10% from an earlier estimate of 15%
Net interest income fell 31% to Rs 1,764 crore in Q3FY22
Retail business quarterly revenue crosses Rs 50,000 cr
The company has already raised long-term funds, protecting the balance sheet from rising finance costs
Net Interest Income for the quarter grew by 2.6% to Rs 2,124.7 cr
Its gross premium income remained healthy with a 27 per cent increase to Rs 12,255 crore, led by traction in renewal premium and new business premium
However, total income declined to Rs 20,458.31 crore in the quarter under review from Rs 26,551.90 crore in October-December 2020 period