Page 11 - Bfsi

Taking pole position: Auto, BFSI dominated Q4 corporate earnings circuit

Operating margins put the pedal to the metal on corporate earnings, fuelled by sector-wide Ebitda margin gains, driving net profits to victory in five straight quarters

E-commerce, BFSI, hospitality sectors driving job market in 2024: Report

E-commerce, BFSI (banking, financial services, and insurance), and hospitality sectors witnessed an increased demands for talents in the first four months of 2024, indicating a recovery in overall job market, a report said on Thursday. Driven by economic recovery, the demand for workforce in BFSI increased the maximum by 21 per cent during the first four months of this calender year. The e-commerce sector saw an increase of 17 per cent, services and hospitality industries reported a growth of 13 per cent, according to a report by professional networking platform Apna. The report is based on the data on Apna platform during 2023 and 2024. It also found that the job market in the southern part of India saw a growth of 23 per cent compared to 18 per cent last year, with cities like Hyderabad, Bengaluru and Chennai leading in terms of total number of job postings. The adoption of digitalisation is becoming increasingly evident in tier II and III cities like Lucknow, Coimbatore, and ...

Randstad Digital eyes GCCs in India to drive growth in its IT business

Randstad Digital's focus verticals include banking, financial services and insurance (BFSI), automotive and aerospace, and high tech verticals

India Inc revenue rose in Q4, but profit grew at slowest pace in 6 quarters

BFSI, auto firms key drivers of net sales, profit in Q4

CAMS Q4 results: PAT rises 38.5% to Rs 103 cr, revenue up 24% to Rs 310 cr

Registrar and transfer agent for mutual funds CAMS on Thursday reported a 38.5 per cent surge in profit after tax to Rs 103 crore for three months ended March this year, driven by robust performance across the business streams. In comparison, the company had posted a profit after tax (PAT) of Rs 74.36 crore in the year-ago period, Computer Age Management Services Ltd (CAMS) said in a statement. Its revenue grew 24.6 per cent to Rs 310.46 crore in January-March of the financial year 2023-24 (FY24) from Rs 249.24 crore a year ago. "We had an excellent quarter in terms of posting strong financial results, with quarterly revenue and PAT growing at 24.6 per cent and 38.7 per cent YoY (year-on-year). "All these numbers are a culmination and deep vindication of robust performance across our revenue streams and are reflective of deep business and operational focus of our teams," Anuj Kumar, Managing Director of CAMS, said. The company said that revenues from the mutual fund business rose

Early bird top line growth fastest in four quarters; BFSI leads the charge

IT, manufacturing laggards in Q4 so far

Tier 2, 3 cities see 30% rise in demand for jobs in BFSI sector, shows data

The heightened demand is particularly noticeable in areas such as insurance, housing, NBFCs, and retail banking," according to TeamLease Services

IT sector to see second consecutive year of muted revenue growth: CRISIL

The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at USD 250 billion and it creates over 50 lakh direct jobs. "The slowdown in technology spend will continue this fiscal, weighing on the revenue growth of IT service providers," said Aditya Jhaver, director at Crisil. The industry is, however, expected to sustain in the key metric of profitability, as the operating profit margins will be stable at 22-23 per cent, the agency said, attributing it to prudent management of employee costs. Crisil said the sectoral revenues achieved a compounded annual growth rate of 12 per cent for the decade through FY24. High interest rates and economic slowdown in client mark

Average salary hike in India likely to be 8-11% this year: Randstad India

The junior professionals are likely to outshine senior professionals in terms of salary hike percentage

BFSI, e-com, staffing sectors most vulnerable to employment fraud: Study

The study categorised cases into green, amber, and red classification, where green denoted a smooth hiring path with all candidate details matching verified documents

IRDAI approves Bima Sugam, 7 other regulations in 125th board meet

The board of the insurance regulator approved the 'Bima Sugam' platform where the policyholders can compare premiums and purchase a wide array of insurance products

PhonePe got lucky by betting on UPI before everyone jumped in: CEO

Nigam said the fintech startup's UPI play gave it a boost, even as many banking and technology companies failed to tap digital payments at scale

The good times will last longer, says public sector bank CEOs panel

Bandyopadhyay spoke on the situation's sustainability with some of India's leading PSB chiefs

While competing hard for money, interest rate risks under control: Khara

Khara spoke at the 'Business Standard' BFSI Insight Summit 2023 about how the state-owned is carefully looking at interest rate risk

Defying trend: Earnings growth no match for rally in CPSU stocks

Valuation rerating largely behind surge in mcap

Margin gains propel India Inc's Q3 profit despite revenue slowdown

The combined earnings were, however, up only marginally from Rs 3.15 trillion reported in Q2FY24 as well Q4FY23

Bond with Bharat: What activation of J P Morgan Index means for India Inc

While inflows into G-Secs is a given, the secondary effects of these in the corporate bond market are to be watched for

CAMS Q3 results: Net profit rises 21% to Rs 89 cr, revenue up 19%

Computer Age Management Services Ltd (CAMS), registrar and transfer agent of mutual funds, on Tuesday reported 21 per cent growth in net profit at Rs 89.29 crore for three months ended December 2023. The company had logged a net profit of Rs 73.72 crore in the same quarter of preceding financial year (FY23), CAMS said in a statement. Revenue in the quarter under review rose 19 per cent to Rs 289.68 crore, as against Rs 243.57 crore in the year-ago period. "Revenue growth at 19 per cent and PAT (profit after tax) growth at 21 per cent year-on-year is the culmination of robust performance across our revenue streams. Mutual funds asset growth trajectory took the overall asset base we service to historic high of Rs 34 lakh crore," company's managing director Anuj Kumar said. CAMS is a financial infrastructure and service partner to the asset management industry and offers platform-based services to the Banking, Financial Services and Insurance (BFSI) segment. With a market share of ov

Fusion CX opens BPO facility; firm's India workforce to hit 10,000

Business process management (BPM) company Fusion CX on Friday announced the opening of a 500-seat facility in Navi Mumbai. The company, which employs 9,500 of its global workforce of over 14,000 in India, aims to add another 500 employees to take its overall base in the country to over 10,000 in the next quarter, as per an official statement. It will serve global clientele out of the newly-opened facility spread over 20,000 square feet. The facility will help offer multi-lingual, omni-channel customer experience management, technical support, and back-office operations to clients in various sectors including healthcare, BFSI (banking, financial services and insurance), technology, retail, and utilities. The company's director and co-founder Kishore Saraogi said the expansion of the Mumbai operation will help Fusion CX establish a strong presence in all four regions (north, east, west, south) of the country.

NIIT Q3 results: Net profit marginally up at Rs 14.3 cr; revenue declines

IT training company NIIT on Friday reported a 0.56 per cent increase in its consolidated net profit to Rs 14.36 crore for the December 2023 quarter. Its profit stood at Rs 14.28 crore in the year-ago period. Sequentially, it rose 34.96 per cent against Rs 10.64 crore. The revenue from operations declined by 8.59 per cent to Rs 85.17 crore in the third quarter from Rs 93.18 crore in the year-ago period, according to a regulatory filing. A company statement said the results include the impact of the demerger of NLSL from NIIT Limited from April 1, 2022. "We are expanding in BFSI (banking, financial services and insurance) and increasing penetration across GCCs (Global capability centres). We continue to see sequential recovery in business despite the ongoing hiring freeze in the technology sector," Vijay K Thadani, Vice Chairman and Managing Director, NIIT, said. The company is on a path of recovery with its BFSI strategy, which is reflected in its yearly growth in the revival of ..