Reuters India Business Archives - Page 504 of 1191

India’s ICICI Bank beats Q2 profit view on healthy loan demand, margins shrink

26 Oct 2024 26 Oct 2024

MUMBAI (Reuters) – ICICI Bank, India’s second-largest private lender, reported a bigger-than-expected second-quarter profit on Saturday, helped by healthy loan growth and core lending income, even as lending margins shrunk. The Mumbai-based lender’s standalone net profit rose 14.5% to a record 117.46 billion rupees ($1.4 billion) in the July-September quarter. That exceeded analysts’ average estimate …

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India Yes Bank’s Q2 profit jumps on strong lending income, lower provisions

26 Oct 2024 26 Oct 2024

MUMBAI (Reuters) – India’s Yes Bank reported a bigger-than-expected rise in net profit for the July-September quarter on Saturday, helped by an increase in core lending income and a drop in provisions. The Mumbai-based private lender’s standalone net profit more than doubled to 5.53 billion rupees ($65.8 million) for the financial second quarter from 2.25 …

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Indian central bank chief says inflation moderating, but upside risks require vigilance

25 Oct 2024 25 Oct 2024

WASHINGTON (Reuters) – Reserve Bank of India Governor Shaktikanta Das said on Friday the country’s inflation is moderating, but the central bank will be vigilant to risks of an overshoot from unexpected weather-related and geopolitical events. India’s economy is expanding at a solid clip with the balance of growth and inflation “well-poised,” Das said in …

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Stocks slip, notch weekly loss on US election nerves; crude oil gains

25 Oct 2024 25 Oct 2024

By Chibuike Oguh NEW YORK (Reuters) -Global stocks slipped on Friday, finishing the week lower amid U.S. election jitters, while oil prices rose due to concerns about fighting in the Middle East. Republican former President Donald Trump and Democratic Vice President Kamala Harris are polling neck-and-neck in crucial swing states ahead of the Nov. 5 …

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Gold firms as mideast woes, election uncerainty lift prices

25 Oct 2024 25 Oct 2024

By Anjana Anil (Reuters) – Gold prices edged up on Friday after recovering from a profit-taking bout as Middle East tensions and U.S. election jitters supported prices, while palladium prices extended gains to 10-month highs. Spot gold was up 0.2% at $2,741.50 per ounce by 01:44 p.m. ET (1744 GMT). Prices hit a record $2,758.37 …

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Indian airline IndiGo sees 40% of grounded jets flying by April, swings to quarterly loss

25 Oct 2024 25 Oct 2024

By Nandan Mandayam and Meenakshi Maidas (Reuters) -India’s largest airline IndiGo said on Friday it expects to have about 40% of its grounded fleet in the air by April, after costs related to unused aircrafts dragged the budget carrier to its first quarterly loss in two years. “We expect aircraft on ground to reduce from …

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India’s DLF posts higher Q2 profit on sales of previously-launched houses

25 Oct 2024 25 Oct 2024

(Reuters) – India’s DLF reported a jump in second-quarter profit on Friday, helped by sales of housing units launched in previous quarters in its key national capital region market. The property firm reported consolidated profit before tax of 5.77 billion rupees (about $69 million) for the three-months ended Sept. 30, up 24% from last year. …

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Indian refiner Bharat Petroleum’s Q2 profit slumps on lower marketing margins

25 Oct 2024 25 Oct 2024

(Reuters) – India’s Bharat Petroleum Corp (BPCL) reported a slump in second-quarter profit on Friday, weighed down by lower marketing margins. The state-owned company’s standalone net profit fell 71.8% to 23.97 billion rupees ($285.2 million) for the three months ended Sept. 30. Analysts had expected a profit of 35.06 billion rupees, as per data compiled …

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India’s Bank of Baroda lowers loan, deposit growth guidance for FY25

25 Oct 2024 25 Oct 2024

By Siddhi Nayak MUMBAI (Reuters) – Bank of Baroda, India’s third largest state-run lender, reduced its credit and deposit growth guidance for the fiscal year 2024/2025 on Friday, citing greater competition for garnering funds. Indian banks have been reporting double-digit percentage loan growth over the last few months, helped by healthy economic growth and urban …

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India’s Torrent Pharma misses Q2 profit view after closure of insulin unit

25 Oct 2024 25 Oct 2024

(Reuters) – India’s Torrent Pharmaceuticals reported a smaller-than-expected second-quarter profit on Friday, hurt by the shutdown of an insulin manufacturing facility. The Ahmedabad, Gujarat-based company reported a 17.4% rise in consolidated net profit to 4.53 billion rupees (nearly $54 million) for the quarter ended Sept. 30, missing analysts’ estimates of 4.97 billion rupees, per data …

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