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New Delhi: As the earnings season for the second quarter of FY25 unfolds, <keyword id="19959986" type="General" weightage="20" keywordseo="public-sector-banks" source="keywords">public sector banks</keyword> (PSBs) are expected to see a slight dip in profits compared to the previous quarter, according to a report by <keyword id="19896146" type="General" weightage="100" keywordseo="Motilal-Oswal" source="keywords" meta.keywordsubtype="org" meta.entityname="Motilal Oswal" meta.hostid="153" meta.entityid="Motilal Oswal">Motilal Oswal</keyword>. The report estimates that PSBs' Profit After Tax (PAT) will decline by 0.6 per cent quarter-on-quarter (QoQ), while showing a stronger year-on-year (YoY) growth of 17.2 per cent. "We estimate PSBs to report moderate <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword> of 17.2 pc YoY/ a decline of 0.6 pc QoQ in 2QFY25," the report stated. The slower pace of growth can be attributed to flat net interest margins (NIMs) and a slight increase in loan loss provisions (LLP). The <keyword id="20171160" type="General" weightage="20" keywordseo="Net-Interest-Income" source="keywords">Net Interest Income</keyword> (NII) for PSBs is expected to grow by around 6 per cent YoY, although interest margins are likely to remain under pressure. Despite these near-term challenges, the report suggests that public sector banks are on track to post a compound annual growth rate (CAGR) of 15 per cent between FY24 and FY26, pointing to sustained long-term growth. In the private sector banking space, the report forecasts mixed results for the same quarter. For private banks under the coverage, Pre-Provision Operating Profit (PPoP) is expected to grow by 12 per cent YoY and 1 per cent QoQ. However, PAT growth is predicted to be more modest, increasing by 5 per cent YoY and 0.6 per cent QoQ. "For our private bank coverage universe, we estimate a PPoP growth of 12 pc YoY/1 pc QoQ and a PAT growth of 5 pc YoY/0.6 pc QoQ in 2QFY25," the report added. Looking ahead, private sector banks are expected to experience steady profitability growth, with earnings projected to grow at a CAGR of 12.4 per cent over FY24-FY26. Overall, while both public and private sector banks may face moderate growth in the second quarter due to margin pressures and higher provisions, their long-term earnings prospects remain positive. (ANI)

Profit of public sector banks expected to decline by 0.6 percent QoQ : Motilala Oswal

Air conditioning and <keyword id="17833175" type="General" weightage="20" keywordseo="engineering-services" botkeyword="" source="Denny">engineering services</keyword> provider <keyword id="21567326" type="General" weightage="20" keywordseo="Voltas-Ltd" botkeyword="" source="Denny" meta.keywordsubtype="org" meta.entityname="Voltas Ltd" meta.hostid="153" meta.entityid="Voltas Ltd">Voltas Ltd</keyword> on Tuesday reported a 22.75 per cent decline in <keyword id="20203162" type="General" weightage="20" keywordseo="consolidated" botkeyword="" source="Denny">consolidated</keyword> <keyword id="17985868" type="General" weightage="20" keywordseo="net-profit" botkeyword="" source="Denny">net profit</keyword> to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher <keyword id="18067946" type="General" weightage="20" keywordseo="expenses" botkeyword="" source="Denny">expenses</keyword>. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, <keyword id="6354999" type="DOMAIN" weightage="20" keywordseo="voltas" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="voltas" meta.entityname="Voltas Ltd." meta.entityid="12815" meta.seoname="voltas-ltd">Voltas</keyword> said in a regulatory filing. Consolidated <keyword id="17915033" type="General" weightage="20" keywordseo="revenue" botkeyword="" source="Denny">revenue</keyword> from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue of Rs 156 crore as compared to Rs 142 crore in the year-ago period, it added. Similarly, electro-mechanical <keyword id="18084086" type="General" weightage="20" keywordseo="projects" botkeyword="" source="Denny">projects</keyword> and services segment comprising both domestic and international projects businesses grew by 38 per cent year-an-year due to a healthy carry forward order book position, it added. <keyword id="21544478" type="General" weightage="20" keywordseo="Voltas" botkeyword="" source="Denny">Voltas</keyword> said for the fiscal ended March 31, 2024, consolidated net profit was higher at Rs 248.11 crore as compared to Rs 136.22 crore in the previous year. Consolidated revenue from operations in FY24 was at Rs 12,481.21 crore as against Rs 9,498.77 crore in FY23. The company said it achieved the milestone of 20 lakh <keyword id="21211630" type="General" weightage="20" keywordseo="AC-sales" botkeyword="" source="Denny">AC sales</keyword> in 2023-24. Voltas said its board of directors has recommended a <keyword id="18713200" type="General" weightage="20" keywordseo="dividend" botkeyword="" source="Denny">dividend</keyword> of Rs 5 per share of the face value of Re 1 per share for the year 2023-24 subject to the approval of shareholders of the company. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Voltas net profit declines 22% YoY to ₹110.64 crore in Q4 FY24

<keyword id="22373997" type="General" weightage="20" keywordseo="IT-behemoth" source="keywords">IT behemoth</keyword> <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="261" meta.entityid="TCS">TCS</keyword> reported its <keyword id="22373996" type="General" weightage="20" keywordseo="Q1FY25" source="keywords">Q1FY25</keyword> results. The stock closed at Rs 3,902, down by 0.18%. The stock has offered a YTD (yield to date) of 2.39% while inching up almost 19% over the last year. The company announced an interim dividend of Rs 10/share for FY2024-25. The company reported an above-expectations growth for the quarter, while its margins remained largely in line with what the D-street had been anticipating. <h2>Strong net profits, margins</h2>On expected lines, the <keyword id="6354185" type="General" weightage="20" keywordseo="IT" source="Orion">IT</keyword> giant's net <keyword id="19933742" type="General" weightage="20" keywordseo="profit" source="keywords">profit</keyword> is down by 3.2% on a quarter-on-quarter (QoQ) basis and up by 8.7% on a YoY basis, standing at Rs 12,040 crore for this quarter. Last quarter, this figure stood at Rs 12,434 crore. The company's consolidated EBIT (earnings before interest and tax) margins stood at 24.7%, witnessing an expansion of 1.5% on a year-on-year (YoY) basis. The company's revenue jumped up by 2.2% on a quarter-on-quarter basis and a 5.4% on a YoY basis, reaching Rs 62,613 crore for April-June 2024, as opposed to Rs 61,237 crore in the quarter before. The company's PAT (<keyword id="19933742" type="General" weightage="20" keywordseo="profit" source="keywords">profit</keyword> after tax) saw a marginal dip on a QoQ basis of 3.2%, reaching Rs 120.4 billion. However, on a YoY basis, PAT saw a robust 8.7% growth. The company TCV (total contract value) or order book for the quarter dipped significantly by 37.1% to $8.3 billion, also registering a fall of 18.6% on a YoY basis. <h2>Dip in attrition, rise in employee count</h2>However, the company managed to add 5,452 employees to its workforce, as opposed to losing 1,759 employees during the previous quarter. This takes the company's total workforce to 6,06,998. Its attrition rate, at 12.1% this quarter, also came down from 12.5% from the previous quarter. Per the company, AI Cloud, Cyber Security and Enterprise Solutions led their growth this quarter. The company also saw a YoY growth (in constant currency terms) of 61.8% in its India markets, jumping from 4.9% in Q1FY24 to 7.5% in <keyword id="22373996" type="General" weightage="20" keywordseo="Q1FY25" source="keywords">Q1FY25</keyword>. The company's client base of ones worth over $100 million and $50 million increased by 3 each during the year. On the other hand, clients worth over $10 million rose by 18, and ones over $1 million inched up by 42 on a YoY basis.

TCS Q1 results 2024: Contract values, net profits take a hit as PAT, employee count sees hike

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has launched the <keyword id="23557661" type="General" weightage="100" keywordseo="JioBharat-V3" source="keywords">JioBharat V3</keyword> and V4 feature phones.</li><li>The devices have been launched at the ongoing <keyword id="22302084" type="General" weightage="20" keywordseo="Indian-Mobile-Congress" source="keywords">Indian Mobile Congress</keyword> (IMC) 2024.</li><li>The JioBharat V3 and V4 come with an ₹123 <keyword id="23557663" type="General" weightage="20" keywordseo="monthly-recharge-plan" source="keywords">monthly recharge plan</keyword>.</li></ul> Mukesh Ambani-led Reliance Jio on Tuesday launched the JioBharat V3 and V4 4G smartphones at the ongoing Indian Mobile Congress (IMC) 2024. The devices, according to the company are aimed at 2G users looking to shift to 4G phones. The two new feature phones are the successors of the popular JioBharat V2 feature phone. In addition to offering calling services, these phones also bring <keyword id="22558342" type="General" weightage="20" keywordseo="JioPay" source="keywords">JioPay</keyword> integration, live TV services, and more. <div type="Article" hostid="261" msid="114203740" title="Hyundai IPO review – Everything you need to know about India’s biggest IPO" mstype="2" mssubtype="0"></div> <h2>JioBharat V3 and V4 price in India</h2>The JioBharat V3 and V4 are both priced at ₹1,099 in India. The phones will be available from Amazon India, JioMart and the company’s authorised offline retailers across the country. <h2>JioBharat V3 and V4 recharge plan</h2>Jio has also announced a recharge plan for the JioBharat V3 and V4 feature phones. The company has introduced an ₹123 plan that will offer unlimited calls and 14GB of data per month. <h2>JioBharat V3 and V4 features</h2>The JioBharat V3 has been launched with a style-centric approach, aimed at users primarily looking at form, while the <keyword id="23557662" type="General" weightage="20" keywordseo="JioBharat-V4" source="keywords">JioBharat V4</keyword> focuses on features, aimed at users looking at function. The JioBharat V3 features a sleek design, keeping design in mind over functionality. The JioBharat V4 on the other hand packs features, despite featuring a minimalistic design. The JioBharat V3 and V4 are both equipped with a suite of Jio services, including JioPay which gives access to unified payments interface (UPI), JioTV, which offers access to 455 live TV channels, JioCinema and more. The two smartphones support 23 Indian languages and come with expandable storage of up to 128GB. The devices are powered by a 1,000mAh battery. <div type="Article" hostid="261" msid="114241402" title="Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market" mstype="2" mssubtype="0"></div> The JioBharat V3 and V4 also come with JioChat support, offering unlimited messaging, voice messages, group chat and more on the platform. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-record-4-growth-in-q3-2024-samsung-leads-the-market/articleshow/114241402.cms">Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market</a> <a href="https://www.businessinsider.in/stock-market/webstories/hyundai-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114235421.cms">Hyundai IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-p1-speed-5g-vs-redmi-note-13-5g-which-phone-should-you-buy-under-20000/slidelist/114244322.cms">Realme P1 Speed 5G vs Redmi Note 13 5G – Which phone should you buy under ₹20,000?</a>

JioBharat V3 and V4 4G feature phones launched at ₹1,099

Quick service restaurant operator <keyword id="20376663" type="General" weightage="20" keywordseo="Devyani-International" source="keywords">Devyani International</keyword> Ltd on Tuesday reported a consolidated net loss of Rs 48.95 crore in the fourth quarter ended March 31, 2024, impacted by forex translation loss due to the devaluation of Nigerian currency. The company had posted a consolidated net profit of Rs 59.88 crore in the fourth quarter of the previous fiscal, Devyani International said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,047.08 crore as against Rs 754.98 crore in the corresponding period a year ago, it added. Total expenses were higher at Rs 1,057.32 crore as compared to Rs 724.77 crore in the year-ago quarter, it added. During the quarter ended March 31, 2024, and the year ended March 31, 2024, due to significant devaluation of the Nigerian currency, the Nigerian subsidiary of the group has recognised Rs 42.37 crore and Rs 89.7 crore devaluation impact on account of translation loss of USD denominated liabilities in Nigerian subsidiary's financial information as at March 31, 2024, and year ended March 31, 2024, respectively, the filing said. "Considering the significance of the amount involved, the said exchange translation loss has been presented as an "exceptional item" in consolidated financial results of the group," it said. Devyani International Ltd (DIL) is the largest franchisee for <keyword id="20506161" type="General" weightage="20" keywordseo="Yum-Brands" source="keywords" meta.keywordsubtype="org" meta.entityname="Yum Brands" meta.hostid="261" meta.entityid="Yum Brands">Yum Brands</keyword> (KFC and Pizza Hut) in India. It is also the sole franchisee for Costa Coffee Brand and stores in India. Besides, it also has the South Indian vegetarian chain Vaango. For the fiscal ended March 31, 2024, the consolidated net loss was at Rs 9.65 crore. The company had posted a consolidated net profit of Rs 262.51 crore in the year ended March 31, 2023, according to the filing. In FY24, consolidated revenue from operations was at Rs 3,556.32 crore as against Rs 2,997.72 crore in FY23. "In 2024, we have diligently focused on our strategic expansion goals. Over the course of the year, we opened 256 new stores, including 47 in the fourth quarter. As of March 31, our total store count has reached 1,782, including the 283 KFC stores we acquired in Thailand on January 18, 2024," Devyani International Chairman Ravi Jaipuria said. He said alongside the global expansion, the company has also been working on a strategy to enhance its domestic footprint of the food courts business in response to India's emergence as a major destination for travel, tourism, and shopping. "The domestic travel market is picking up very well and we are seeing religious tourism as one of the important thrust areas. India is also gaining importance in the international markets for medico tourism and a value-for-money shopping destination," Jaipuria said. DIL said the investments in infrastructure and the revitalisation of the travel and tourism sector augur well for the quick service restaurant (QSR) industry. "The outlook for India in 2024 appears optimistic, and DIL is well poised to seize the opportunity presented by this favourable trend," it said. The company said its board has approved the appointment of Kamaljit Singh Bedi as CEO - Institutional Business and New Business Ventures with effect from May 14, 2024. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank">ChatGPT maker OpenAI has launched GPT-4o, a new AI voice assistant</a><a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank">Google I/O event today – how to watch and what to expect</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank">OnePlus Nord CE 4 Lite to launch soon in India – expected price, specs and everything we know so far</a>

Devyani International posts net loss of ₹48.95 crore in Q4

India's largest telecom operator <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> on Monday posted a 13 per cent year-on-year rise in its standalone net profit at Rs 5,337 crore in March quarter. Its revenue from operations for Q4FY24 came in at Rs 25,959 crore, up 11 per cent over the year-ago period. The net profit was pegged at Rs 5,337 crore for just-ended quarter, up from Rs 4,716 crore in the fourth quarter of FY23, which translated into a 13.16 per cent increase. According to a BSE filing by the company, for the full FY24, the net profit stood at Rs 20,466 crore, which was 12.4 per cent higher than that of FY23. The revenue for full fiscal ended March 2024 was Rs 1,00,119 crore, up 10.2 per cent over the preceding fiscal. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a><a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank">PlayStation 5 is now available at a discount of ₹10,000 for a limited period</a>

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Profit of public sector banks expected to decline by 0.6 percent QoQ : Motilala Oswal

ANI

Voltas net profit declines 22% YoY to ₹110.64 crore in Q4 FY24

PTI

TCS Q1 results 2024: Contract values, net profits take a hit as PAT, employee count sees hike

Ira Alok Puranik

JioBharat V3 and V4 4G feature phones launched at ₹1,099

Sourabh Jain

Devyani International posts net loss of ₹48.95 crore in Q4

PTI

Reliance Jio Q4 net profit rises over 13% to ₹5,337 crore

PTI

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