Page 2004 - Business Finance
Safari Industries (India) standalone net profit rises 75.78% in the September 2018 quarter
Sales rise 44.50% to Rs 127.39 crore
Eveready Industries India standalone net profit declines 32.16% in the September 2018 quarter
Sales decline 3.71% to Rs 383.49 crore
Bosch standalone net profit rises 18.86% in the September 2018 quarter
Sales rise 13.84% to Rs 3201.11 crore
Cipla standalone net profit rises 0.41% in the September 2018 quarter
Sales rise 2.01% to Rs 3035.62 crore
Exide Industries standalone net profit rises 98.06% in the September 2018 quarter
Sales rise 15.35% to Rs 2720.35 crore
SBI jumps after Q2 results
State Bank of India rose 3.45% to settle at Rs 295.30 on BSE after net profit fell 40.26% to Rs 944.87 crore on 1.80% increase in total income to Rs 66,607.98 crore in Q2 September 2018 over Q2 September 2017.
Weak rupee, Asian markets pull key indices lower
A weak rupee, along with broadly negative Asian markets and profit booking, pushed the key Indian equity indices in the red on Monday.
Awfis to triple number of co-working seats to 12K in Pune
Co-working operator Awfis plans to expand aggressively in Pune by tripling its number of centres to 21 over the next one year driven by huge demand for shared office space in the city from startups and corporates, a top company official said. Awfis, which was founded in April 2015, entered Pune market 18 months back and has established seven centres with a seating capacity of over 4000. Now, it has chalked out a plan to add 8,000 seats more by opening 14 new centres over next one year. Overall, the company has 55 centres, comprising 25,000 seats, across nine cities. A seat costs anywhere between Rs 5,000 and Rs 15,000 in its centres. It posted a revenue of Rs 57 crore last fiscal and the same is expected to reach Rs 170 crore this financial year. "Pune has proved to be an ideal eco-system of startup entrepreneurs, SMEs and corporates, where Awfis is determined to continue its growth trajectory and provide best in class shared workspaces to facilitate businesses. We aim to open 14 new .
Axis Bank shares jump over 2 pc post Q2 earnings
Shares of Axis Bank Monday rose over 2 per cent after the company reported a 83 per cent jump in its net profit for the quarter ending September. The stock gained 2.35 per cent to settle at Rs 624.30 on BSE. Intra-day, it surged 3.76 per cent to Rs 632.90. On NSE, shares of the company rose by 2 per cent to end at Rs 623.10 . In terms of equity volume, 15.37 lakh shares of the company were traded on BSE and over 2 crore shares changed hands on NSE during the day. Private lender Axis Bank Friday reported a 83 per cent jump in its net profit at Rs 790 crore for the quarter ending September on the back of healthily growth in core income and a decline in provisions for bad loans. The bank had registered a net profit of Rs 432 crore in the July-September quarter of 2017-18, according to a company statement. Total income of the bank rose to Rs 15,959.37 crore during the second quarter of 2018-19 as against Rs 13,820.62 crore in the same period of the preceding fiscal. The net non-performing
Sensex falls; Cipla down on disappointing earnings
(Reuters) - Indian shares closed lower on Monday, dragged by non-banking financial companies after a top government official raised concerns about liquidity in the sector.
GRUH Finance Ltd. - Profit After Tax for the Half-year Amounted to Rs. 220.43 Crores as Compared to Rs. 183.50 Crores for the Previous Year - an Increase of 20%
/ -- GRUH Finance Ltd. FINANCIAL RESULTS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2018 The Board of Directors of GRUH Finance Ltd. (GRUH) - a subsidiary of HDFC Ltd. - has approved the accounts for the half year ended September 30, 2018 at their meeting held in Mumbai on October 29th, 2018. FINANCIAL RESULTS Profit after tax for the half-year amounted to Rs. 220.43 crores as compared to Rs. 183.50 crores for the previous year - an increase of 20%. Highlights of Operational Performance (Rs. in crore) Details Sept 30, 2018 Sept 30, 2017 Growth (%) Net Interest Margin 349 314 11 Non-Interest Expenses 60 54 12 Profit After Tax 220 184 20 Loan Portfolio The loan portfolio as at September 30, 2018 amounted to Rs. 16,663 crores as against Rs. 14,271 crores in the previous year - an increase of 17%. LENDING OPERATIONS Loan Disbursements Loan disbursements during the period were Rs. 2,738 crores as against Rs. 2,483 crores in the previous year indicating a growth of 10%. Cumulative loan ...
M&M opens pre-launch booking of upcoming high-end SUV Alturas G4
Mahindra & Mahindra (M&M) Monday said it has commenced pre-launch bookings of its upcoming premium SUV which has been christened Alturas G4. The model was code-named as Y400 and will be launched on November 24. "The Alturas G4 represents a gateway into luxury for those who have reached the pinnacle of success in their lives. Being our most luxurious offering, exquisitely designed and crafted, we believe that the Alturas G4 name perfectly describes this product," M&M Chief of Sales & Marketing Veejay Nakra said in a statement. Positioned in the high-end SUV segment, the Alturas G4 will compete with players that operate in the Rs 30 lakh plus price range segment. It will be manufactured at company's Chakan plant in Maharashtra.
SBI net profit slips 69% to Rs 576 crore in Q2
The country's largest lender SBI Monday reported 69 per cent decline in consolidated net profit to Rs 576.46 crore in the second quarter ended September 30. The bank's net profit was Rs 1,840.43 crore in the July-September quarter of previous fiscal. The bank had reported a net loss of Rs 4,875.85 crore in the first quarter of the current fiscal due to higher provisioning for bad loans. Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period, State Bank of India (SBI) said in a regulatory filing. On asset quality, the gross non-performing assets (NPA) of the bank rose to 9.95 per cent of the gross advances as on September 30, 2018 from 9.83 per cent a year ago. Net NPAs or bad loans stood at 4.84 per cent of the net advances, down from 4.53 per cent. The provisions for bad loans came down to Rs 10,381.31 crore during the quarter, from Rs 16,842.18 crore in the same period a year ago. On standalone ...
Natco Pharma Board approves equity shares buyback
Of face value Rs 2 each
Minda Industries consolidated net profit rises 21.04% in the September 2018 quarter
Sales rise 38.55% to Rs 1521.72 crore
Shree Rajeshwaranand Paper Mills reports standalone net loss of Rs 2.18 crore in the September 2018 quarter
Sales rise 89.39% to Rs 33.90 crore
Alfred Herbert (India) standalone net profit rises 60.78% in the September 2018 quarter
Sales rise 49.35% to Rs 1.15 crore
Market settles with modest losses
Key benchmark indices settled with modest losses on first trading day of the week. The barometer index, the S&P BSE Sensex, lost 60.73 points or 0.17% at 34,950.92, as per the provisional closing data. The Nifty 50 index fell 24.80 points or 0.24% at 10,528.20, as per the provisional closing data. Key indices remained in negative zone for majority of the day's trading session.
Increased government spending on infrastructure and modernisation need of the hour
Capital expenditure by central and state government agencies on homeland security presents potential of USD 2.73 billion for the year 2018-2019, noted a just-concluded ASSOCHAM-KPMG joint study. Much of this potential is created due to police modernisation, critical infrastructure protection and counter terrorism efforts of the government, according to the study titled, 'Modernisation of Homeland Security: Staying Safe in a Smart World,' jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and professional services firm KPMG. Further, the study also stated that increased government spending on infrastructure development and modernisation is the need of the hour as state and central police forces are facing multiple challenges.
Sensex drops 61 points on negative global cues, weak rupee
The benchmark BSE Sensex dropped 61 points and settled below the 35,000 mark Monday, tracking weak Asian stocks amid uncertainty around the China-US trade war, fall in rupee and unabated foreign fund outflows. The Sensex fell below the 35,000-level to touch a low of 34,811.60 due to heavy selling pressure in view of foreign capital outflows and weak global cues. However, fag-end buying helped trimming losses and the index closed at 34,950.92 with a fall of 60.73 points, or 0.17 per cent. The gauge had rallied almost 580 points on Friday. The broader NSE Nifty, after slipping below the 10,500-mark to hit a low of 10,477, finally concluded 29 points, or 0.27 per cent, down at 10,524. The rupee depreciated 67 paise, to 73.12 (intra-day) against the dollar too had a negative influence. Market was volatile in a narrow range due to weak global cues and selling pressure in pharma, FMCG and auto, analysts said. "Rupee weakened on account of crunch in domestic liquidity while gradual decline ..