MUMBAI (Reuters) – India’s Yes Bank reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased. Net profit fell to 515.20 million rupees ($6.36 million) for the three-months ending December 31, from 2.66 billion rupees in the year-earlier period. Analysts had expected profit to rise to 3.36 billion rupees, …
India’s Yes Bank reports surprise 80% plunge in quarterly profit Read More »
MUMBAI(Reuters) – India’s ICICI Bank on Saturday reported a 34.2% increase in net profit for the October-December quarter, on the back of improved revenues and healthy loan growth. Net profit for the quarter was 83.12 billion Indian rupees ($1.03 billion) up from 61.94 billion rupees in the same quarter a year earlier. That was in …
India ICICI Bank’s profit jumps 34% in October-December Read More »
MUMBAI (Reuters) -India’s Kotak Mahindra Bank reported a 31% increase in net profit on Saturday for the October-December quarter, aided by a strong top line and healthy loan growth. The lender’s net profit reached 27.92 billion rupees ($344.2 million), compared with 21.31 billion in the same period last year and with an average analyst expectation …
India’s Kotak Mahindra Bank quarterly net profit jumps 31% Read More »
MUMBAI (Reuters) – India’s Yes Bank has “strong” legal grounds to appeal against a court order quashing the write-off of its additional Tier-1 (AT1) bonds, Chief Executive Officer Prashant Kumar said on Saturday. “The judgment in itself is not questioning the regulatory guidelines in terms of writing off (AT1 bonds). I think there are questions …
India’s Yes Bank has ‘strong’ grounds to appeal ATI bonds court order, CEO says Read More »
By Sriram Mani MUMBAI (Reuters) – India’s Adani Group, which is controlled by billionaire Gautam Adani, said it plans to spin off more businesses by 2028 and dismisses any debt concerns. The corporate house plans to spin off, or demerge, its metals, mining, data centre, airports, roads and logistics businesses, said Chief Financial Officer Jugeshinder …
India’s Adani Group plans to demerge more business; dismisses debt concerns Read More »
CHENNAI (Reuters) – India’s top cement maker, UltraTech Cement, reported a 38% decrease in quarterly profit on Saturday, dented by a surge in expenses. Profit for the three months through December fell to 10.62 billion rupees ($131.2 million) from 17.10 billion rupees the same period a year earlier, UltraTech said in an exchange filing. Expenses …
India’s UltraTech Cement quarterly profit falls 38% Read More »
By Seher Dareen (Reuters) – Gold prices edged lower on Friday as the dollar firmed, although hopes of slower rate hikes from the U.S. Federal Reserve kept bullion on track for its fifth straight weekly gain. Spot gold fell 0.2% to $1,928.06 per ounce by 1:49 p.m. ET (1849 GMT), after rising to its highest …
Gold eases as dollar ticks up, but set for fifth weekly rise Read More »
By Sethuraman N R BENGALURU (Reuters) -Reliance Industries Ltd on Friday reported a bigger-than-expected drop in quarterly profit as India’s biggest company by market valuation took a hit from the government’s windfall tax on fuel exports. The taxes were levied on exports of gasoline, diesel and aviation fuels midway last year, halting the momentum in …
India’s Reliance Industries misses profit view on windfall tax Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – The Bombay High Court on Friday quashed the write-off of additional Tier-1 (AT1) bonds issued by Yes Bank Ltd, according to a court order. The bonds were written off as part of a restructuring plan to rescue Yes Bank in March 2020. Equity holders, on the other hand, …
India court quashes write-off of Yes Bank’s AT1 bonds – order Read More »
By Nidhi Verma and Sethuraman N R NEW DELHI (Reuters) – India’s liquefied natural gas (LNG) imports are set to recover as global prices ease, the chief executive of the country’s top gas importer Petronet LNG Ltd said. Asian spot LNG prices have fallen due to mild weather in Europe and ample inventories, from an …
India gas imports to rise on lower global prices – Petronet Read More »
