Improved performance in consumer biz, its proposed listing remain key triggers
ICICI Bank's yield on advances was 9.75 per cent during the January-March quarter, and in the previous quarter it was 9.13 per cent
The non-interest income was up 22.8 per cent to Rs 1,082 crore, and was led by core fee income, especially the one coming from retail side
On a standalone basis, the largest private sector lender reported a nearly 30 per cent jump in its net profit for the March quarter at Rs 9,121.87 crore
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Lower raw material costs and decline in tax expenses boost earnings
Hindustan Zinc Ltd (HZL) on Friday reported an 11.78 per cent fall in its consolidated net profit at Rs 2,583 crore for the fourth quarter of 2022-23 on account of higher expenses. The company clocked Rs 2,928 crore net profit in the January-March period of the preceding 2021-22 fiscal, HZL said in a regulatory filing. Its total income also declined to Rs 8,863 crore from Rs 9,074 crore in the year-ago period. The company's expenses stood at Rs 5,358 crore, higher than Rs 4,717 crore a year ago. "The Board on the recommendation of nomination and remuneration committee and audit & risk management Committee had approved the appointment of Sandeep Modi currently Interim CFO as Chief Financial Officer (KMP) of the Company w.e.f. April 21, 2023," the filing said. Vedanta Group company Hindustan Zinc is the world's second-largest integrated zinc producer and fifth-largest silver producer.
The average revenue per user (ARPU) during Q4 stood at Rs 178.8. This was 6.7 per cent higher, YoY
The business recorded gross revenue of more than Rs 2.60 trillion for FY23, a growth rate of 30% over last year
Jio said net profit rose to Rs 4,716 crore in the three months ended March 31, from Rs 4,173 crore a year ago
Its pre-tax profit (Ebitda) during the quarter was also up 32.63 per cent to Rs 4,914 crore
RIL's revenue from operations rose to Rs 2.16 trillion from Rs 2.11 trillion in January-March 2022
The Nifty 50 closed 0.40 points lower to 17,624.05, while the S&P BSE Sensex rose 0.04% to 59,655.06. Both indexes lost over 1% this week
CLOSING BELL: The broader indices ended marginally in red, with Midcap index declining 0.4 per cent, and the Smallcap index down 0.3 per cent.
Overall, from a macro standpoint, the business outlook remained strong with no material impact on the BUs, except for few sub-segments, analysts said.
HCL Tech's guidance of 18-19 per cent EBIT margin in FY24, despite prevailing uncertainties and larger share of cost take out deals in pipeline, suggests good cost control measures.
ICICI Bank is slated to report its January-March quarter result on Saturday, April 22
Adds 4,480 freshers in March qtr to outstrip peers, announces dividend of Rs 18/share
RIL Q4 preview: Analysts expect steady improvement across all segments of Reliance Industries in Q4FY23, with stronger base gross refining margins, and reduced impact of windfall tax
It has also reported a significant increase in its VNB margins from 28 per cent in FY22 to 32 per cent in FY23