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<keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> on Saturday posted a marginal 5 per cent increase in its standalone profit at Rs 16,821 crore in the second quarter ended September 2024. The country's biggest private sector lender had earned a <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> of Rs 15,976 crore in the same quarter a year ago. Total income increased to Rs 85,500 crore during the quarter under review against Rs 78,406 crore in the same period last year, HDFC Bank said in a regulatory filing. The bank reported <keyword id="20202322" type="General" weightage="20" keywordseo="interest-income" source="keywords">interest income</keyword> of Rs 74,017 crore during the quarter compared to Rs 67,698 crore in the same period a year ago. Net Interest Income (NII) improved to Rs 30,110 crore, from Rs 27,390 crore in the second quarter of previous year, registering a 10 per cent growth. As regards asset quality, the bank witnessed slight deterioration with gross <keyword id="19927319" type="General" weightage="20" keywordseo="Non-Performing-Assets" source="keywords">Non-Performing Assets</keyword> (NPAs) rising to 1.36 per cent of the gross loans by the end of September 2024 from 1.34 per cent a year ago. Similarly, net NPAs or bad loans rose to 0.41 per cent from 0.35 per cent at the end of the second quarter of the previous fiscal. On a consolidated basis, the bank logged a growth of 6 per cent in net profit to Rs 17,826 crore as against Rs Rs 16,811 crore in Q2FY24. SEE ALSO:<a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank">Best credit cards for online shopping this festive season</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank">Best smartphones under ₹25,000 in India in October 2024</a><a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank">Waaree Energies IPO – Price band to risk factors, all you need to know</a>

HDFC Bank Q2 profit soars 5% to ₹16,821 crore

State-owned <keyword id="20253046" type="General" weightage="20" keywordseo="Hindustan-Copper" source="keywords">Hindustan Copper</keyword> Ltd on Monday reported a two-fold rise in <keyword id="20123335" type="General" weightage="20" keywordseo="consolidated" source="keywords">consolidated</keyword> <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at <keyword id="22760670" type="General" weightage="20" keywordseo="Rs-113-40-crore" source="keywords">Rs 113.40 crore</keyword> for the quarter ended June 30, 2024. The company had posted a net profit of Rs 47.28 crore in the year-ago period, Hindustan Copper said in a filing to BSE. The consolidated income of the company during the April-June period rose to Rs 500.44 crore over Rs 384.73 crore in the year-ago period, the filing said. Hindustan Copper Ltd had earlier said that it is likely to exceed its capex target of Rs 350 crore for the ongoing fiscal year. The company is continuously investing in its ongoing mine expansion plan. Hindustan Copper Ltd (HCL) is under the administrative control of the Ministry of Mines. The company has facilities for the production and marketing of copper concentrate, copper cathodes, continuous-cast copper rods, and byproducts. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Hindustan Copper Q1 net profit rises two-fold to ₹113.40 crore

India Infrastructure Finance Company Ltd (IIFCL) on Wednesday reported a 44 per cent jump in standalone <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,552 crore for the fiscal ended March 2024 aided by an increase in <keyword id="20107418" type="General" weightage="20" keywordseo="lending" source="keywords">lending</keyword> and moderation in <keyword id="19936329" type="General" weightage="20" keywordseo="bad-loans" source="keywords">bad loans</keyword>. The state-owned infrastructure finance company had earned a net profit of Rs 1,076 crore in the previous fiscal. The company recorded the <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> profit, recovery, sanction and disbursement furthering turnaround performance that began three years ago, IIFCL managing director PR Jaishankar said while announcing annual financial numbers. He said, for the first time, the profit before tax has crossed Rs 2,000 crore. During the year, profit before tax has increased to Rs 2,029 crore as against Rs 1,076 crore in the previous year. The company continued to add value as its net worth increased 11 per cent to Rs 14,266 crore in 2023-24 from Rs 12,878 crore in the preceding fiscal. During the year, he said, the company posted record performance with the highest-ever sanctions and disbursements at Rs 42,309 crore and Rs 22,356 crore, respectively. The cumulative sanctions and disbursements stood at Rs 2.5 lakh crore and Rs 1.28 lakh crore, respectively, as of March 31, 2024. Going forward, he said, the company has significant scope to further improve loan growth and expects to grow at 16-18 per cent. To fund business growth, he said the company plans to raise over Rs 30,000 crore during the current financial year. With regard to asset quality, IIFCL has brought down gross Non-Performing Assets (NPAs) to 1.61 per cent from 4.76 per cent a year ago. The net NPA of the company too declined to 0.46 per cent from 1.41 per cent in the year-ago period. During the current year, he said, the net NPA would be either zero or nearly zero. The Provision Coverage Ratio (PCR) in the last fiscal increased to 71.51 per cent from 70.48 per cent, Jaishankar said. IIFCL has funded close to 760 infra projects worth Rs 14 lakh crore till March 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a><a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a>

IIFCL profit rises 44% to highest-ever of ₹1,552 crore in FY24

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>

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

Auto components major <keyword id="21576080" type="General" weightage="20" keywordseo="Bharat-Forge-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Forge Ltd" meta.hostid="261" meta.entityid="Bharat Forge Ltd">Bharat Forge Ltd</keyword> on Wednesday reported a 77.8 per cent rise in <keyword id="20129249" type="General" weightage="20" keywordseo="consolidated-net-profit" source="keywords">consolidated net profit</keyword> at Rs 227.12 crore in the fourth quarter ended March 31, 2024, riding on higher sales. The company had posted a profit of Rs 127.74 crore in the corresponding period of the previous fiscal, <keyword id="19946643" type="General" weightage="20" keywordseo="Bharat-Forge" source="keywords">Bharat Forge</keyword> said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 4,164.21 crore as against Rs 3,629.05 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 3,843.55 crore as compared to Rs 3,469.05 crore in the same period a year ago. The Board of Directors at its meeting held on May 8, 2024, recommended a final dividend of Rs 6.50 per equity share of the face value of Rs 2 for the financial year ended March 31, 2024, subject to approval of shareholders at the ensuing annual general meeting, Bharat Forge said. For the fiscal ended March 31, net profit was at Rs 910.16 crore as compared to Rs 508.39 crore in the previous fiscal, it added. Consolidated revenue from operations in FY24 was at Rs 15,682.07 crore as against Rs 12,910.26 crore in FY23, the filing said. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</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"></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>

Bharat Forge Q4 profit rises 77% at ₹227.12 crore

<keyword id="19960762" type="General" weightage="20" keywordseo="SBI-Life-Insurance" source="keywords" meta.keywordsubtype="org" meta.entityname="SBI Life Insurance" meta.hostid="83" meta.entityid="SBI Life Insurance">SBI Life Insurance</keyword> on Friday reported 4 per cent rise in <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at Rs 811 crore for the fourth quarter ended March 2024 as value of new business grew modestly. The life insurer had posted a net profit of Rs 777 crore in the year-ago quarter. <keyword id="20840570" type="General" weightage="20" keywordseo="total-income" source="keywords">Total income</keyword> during January-March FY24 rose to Rs 37,567 crore from Rs 22,805 crore in the same period of FY23, <keyword id="19906098" type="General" weightage="20" keywordseo="sbi-life" source="keywords">SBI Life</keyword> said in a regulatory filing. Net premium income in Q4FY24 stood at Rs 25,116 crore as against Rs 19,897 crore in the year-ago period. For the full year 2023-24, the company's net profit grew 10 per cent to Rs 1,890 crore from Rs 1,720 crore in the previous year. Total income during the year rose to Rs 1,32,631 crore from Rs 81,598 crore a year ago. SBI Life said it registered a growth of 9 per cent in the value of new business (VoNB) to Rs 5,550 crore in FY24. VoNB is the present value of expected future earnings from new policies written during a specified period. It reflects the additional value expected to be generated through the writing of new policies during a specified period. Assets under management (AUM) grew 27 per cent to Rs 3.8 lakh crore as of March 31, 2024, it said. Solvency ratio declined to 196 per cent from 215 per cent in the previous fiscal. Solvency margin represents the additional capital that an insurer must maintain to cover potential claims beyond their expected liabilities. This serves as a financial safety net, ensuring their ability to settle all claims even in the most challenging circumstances. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

SBI Life Q4 profit rises 4% to ₹811 crore

<keyword id="19993913" type="General" weightage="20" keywordseo="Mahindra-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Mahindra &amp; Mahindra" meta.hostid="261" meta.entityid="Mahindra &amp; Mahindra">Mahindra &amp; Mahindra</keyword> on Thursday reported a 4 per cent increase in consolidated profit after tax (PAT) to Rs 2,754 crore for the March quarter, driven by strong performance of its automotive and farm sector segments. The company had posted a consolidated PAT of Rs 2,637 crore in the January-March quarter of the 2022-23 fiscal, <keyword id="19981454" type="General" weightage="20" keywordseo="mm" source="keywords">M&amp;M</keyword> said in a regulatory filing. <keyword id="19945274" type="General" weightage="20" keywordseo="revenue" source="keywords">Revenue</keyword> increased to Rs 35,452 crore in the fourth quarter, registering a growth of 9 per cent, as compared to Rs 32,456 crore in the corresponding period a year ago, it added. For the year full year ended March 31, the company posted a consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> of Rs 11,269 crore as against Rs 9,025 crore in FY23, an increase of 25 per cent. Revenue rose 15 per cent to Rs 1,39,078 crore in the last fiscal as compared with Rs 1,21,362 crore in FY23. "It has been an excellent year with most of our businesses delivering a high level of performance. Auto continued its high growth trajectory, Farm gained share in a tough market and <keyword id="20085620" type="General" weightage="20" keywordseo="Mahindra-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Mahindra Finance" meta.hostid="261" meta.entityid="Mahindra Finance">Mahindra Finance</keyword> delivered on asset quality," M&amp;M Managing Director &amp; CEO Anish Shah said. TechM was a weak spot, the turnaround has commenced with the new organisation in place, he added. The company said its board has approved a dividend of Rs 21.10 per share of the face value of Rs 5 each. Shares of the company were trading flat at Rs 2,302.80 apiece on the BSE.

Mahindra Q4 net profit rises 4% to Rs 2,754 crore; Revenue at Rs 35,452 crore

The decline in <keyword id="22920992" type="General" weightage="100" keywordseo="loan-to-deposit-ratios" source="keywords">loan-to-deposit ratios</keyword> (LDR) within the banking system has been attributed to lower <keyword id="22920578" type="General" weightage="20" keywordseo="money-creation" source="keywords">money creation</keyword> by the <keyword id="6354335" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword>) and higher <keyword id="20335010" type="General" weightage="20" keywordseo="profits" source="keywords">profits</keyword> accrued by banks over the past two years, according to <keyword id="2258232" type="General" weightage="20" keywordseo="Nomura-report" source="Orion">Nomura report</keyword>. One of the contributors to the decline in systemic LDR is the lower net money creation by the RBI over the fiscal year 2023-24. Cumulative net fresh money creation during this period amounted to only Rs 0.6 trillion, a contrast to approximately Rs 20 trillion created in the three fiscal years preceding it (FY20-22). This represents a drop in money supply compared to previous years. In the fiscal year 2023-24, the net money creation by the RBI was virtually neutral, recording -1 per cent in FY23 and +1 per cent in FY24, against a 20-year average of +3 per cent and a higher +4-5 per cent in the earlier three years. This moderation in money supply, a discretionary move by the RBI, has had a notable impact on the LDR, limiting the ability of banks to expand their lending relative to deposits. Another crucial factor influencing the decline in LDR is the substantial increase in <keyword id="387788" type="General" weightage="20" keywordseo="bank-profits" source="Orion">bank profits</keyword> over the last two years. In FY24, the total profit of banks was 1.8 per cent of the previous year's deposits, a rise from the average of 0.1 per cent observed between FY16-20. This increase in profitability, while indicative of strong financial performance, has led to a reduction in deposits as banks appropriate a larger portion of these profits. The relationship between bank profits and deposits is intrinsic; banks generate profits from their operations, which are ultimately derived from depositors' funds. As banks' profits rise, the balance sheet needs to be adjusted accordingly, often leading to a reduction in deposits. Consequently, higher profits can result in a diminished deposit base, further impacting the LDR. The elevated LDR, driven by these factors, should be viewed as a cyclical phenomenon rather than a systemic issue. The argument that banks are failing to mobilize deposits or that money is being diverted elsewhere is misplaced. Instead, flows into capital markets and the muted growth in currency in circulation over the past two years do not directly impact system deposits. Banks have continued to create deposits through credit expansion, and the factors leading to the higher LDR are beyond their control. The lower money creation by the RBI is a cyclical issue that is expected to correct over time, while the higher bank profits reflect a positive trend rather than a problem.

Lower money creation by RBI, substantial rise in banks profits behind decline in loan-to-deposits ratios in banks: Nomura

<keyword id="20021345" type="General" weightage="20" keywordseo="TVS-Motor-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor Company" meta.hostid="261" meta.entityid="TVS Motor Company">TVS Motor Company</keyword> on Wednesday said its consolidated net profit increased 15 per cent to Rs 387 crore for the fourth quarter ended March 2024, riding on robust sales. The company had reported a net profit of Rs 336 crore in the January-March period of the previous fiscal. Revenue from operations rose to Rs 10,042 crore in the period under review compared with Rs 8,031 crore in the fourth quarter of FY23. In the fourth quarter, the company said its overall two-wheeler and three-wheeler sales, including exports, grew by 22 per cent to 10.63 lakh units compared to 8.68 lakh units in the same period of the 2022-23 fiscal. For the year ended on March 31, 2024, the company posted a consolidated net profit of Rs 1,686 crore as against Rs 1,329 crore a year ago. Revenue from operations rose to Rs 39,145 crore in FY24 over Rs 31,974 crore in the 2022-23 fiscal. The company said it recorded its highest-ever revenue and profit in FY24. <keyword id="46156" type="General" weightage="20" keywordseo="TVS-Motor" source="Orion">TVS Motor</keyword> also witnessed record sales of over 40 lakh units in a financial year. During the year ended March 31, 2024, its overall two- and three-wheeler sales grew by 14 per cent to 41.91 lakh units as against 36.82 lakh units in the 2022-23 fiscal. Shares of the company on Wednesday ended 1.29 per cent higher at Rs 2,006.15 apiece on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms" target="_blank">Google Wallet launched in India – store your loyalty cards, boarding passes and more</a><a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/tbo-tek-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109946929.cms" target="_blank">TBO Tek IPO – Company details to risk factors, all you need to know</a>

TVS Motor Company net profit rises 15% to ₹387 crore in March quarter

<keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords">TVS Motor</keyword> Company on Tuesday said its consolidated net profit increased 6 per cent to Rs 461 crore for the first quarter ended June 30, 2024, riding on the back of robust sales. The company had reported a net profit of Rs 434 crore in the April-June quarter of last fiscal. Total income rose to Rs 10,448 crore for the period under review as compared to Rs 9,142 crore in the year-ago period, TVS Motor Company said in a regulatory filing. On a standalone basis, the company posted a profit after tax of Rs 577 crore for the first quarter as compared to Rs 468 crore in the June quarter of the last fiscal, it added. Total income rose to Rs 8,412 crore for the first quarter as against Rs 7,275 crore in the year-ago period. The company said its overall two-wheeler and three-wheeler sales including exports grew 14 per cent year-on-year, registering sales of 10.87 lakh units in the quarter ended June 2024 as against 9.53 lakh units registered in the quarter ended June 2023. Motorcycle sales grew by 11 per cent year on year at 5.14 lakh units in the first quarter as against 4.63 lakh units in the same period last fiscal. Scooter sales grew by 19 per cent year-on-year to 4.18 lakh units in the April-June quarter this year. Three-wheeler sales for the quarter under review stood at 31,000 units as against 35,000 units in the year-ago period, TVS said. Electric scooter sales for the quarter ended June 30, 2024, stood at 52,000 units as compared to 39,000 units in the April-June quarter of last fiscal. Shares of TVS Motor Company on Tuesday ended 0.75 per cent down at Rs 2,474.45 apiece on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

TVS Motor Q1 profit rises 6% to ₹461 crore; total income at ₹10,448 crore

<keyword id="19923700" type="General" weightage="20" keywordseo="Tata-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Power" meta.hostid="261" meta.entityid="Tata Power">Tata Power</keyword> on Tuesday said it has logged 31 per cent rise in consolidated net profit at Rs 1,189 crore, compared to the year-ago period, on back of operational efficiency. "At Rs 1,189 crore, growing 31 per cent YoY (year-on-year), the company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of generation, transmission &amp; distribution, and renewables," Tata Power said in a statement. According to the statement, these businesses contributed 84 per cent of the PAT (net profit) in Q1FY25, compared to 72 per cent in the same period in FY24. The statement showed that the consolidated net profit before exceptional items was Rs 906 crore in the quarter ended June 30, 2023. The company's revenue rose 12 per cent YoY to a record high of Rs 16,810 crore (from Rs 15,003 crore in Q1 FY24), and EBITDA grew 11 per cent to Rs 3,350 crore in the reported quarter (from Rs 3,005 crore in Q1 FY24). EBITDA refers to earnings before interest, taxes, depreciation, and amortization. "All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum," said Praveer Sinha, CEO and Managing Director, Tata Power. He informed that the planned capex for this financial year is Rs 20,000 crore and the company is committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, hydropower projects in Bhutan, and opportunities to develop small modular nuclear reactors as the government policy evolves. The company has recorded a capex investment of Rs 4,000 crore in Q1FY25. It has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41 per cent of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is Rs 15,500 crore. Tata Power is poised to garner 20 per cent market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

Tata Power net profit up 31% to ₹1,189 crore in June quarter

<ul><li><keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> on Friday reported a 47.8% rise in <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> for the March quarter of <keyword id="19910780" type="General" weightage="20" keywordseo="FY24" source="keywords">FY24</keyword>.</li><li>The auto maker reported a net profit of Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices.</li><li> The auto major had reported a net profit of Rs 2,623.6 crore in the year-ago period.</li></ul>The country's largest car maker <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> India on Friday reported a 47.8 per cent rise in net profit for the March quarter of FY24 to Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices. The auto major had reported a net profit of Rs 2,623.6 crore in the year-ago period, Maruti Suzuki India said in a regulatory filing. "For the first time, the company surpassed annual total sales milestone of 2 million units in FY24. The company continued to be the top exporter for the third consecutive year, now contributing 41.8 per cent of total passenger vehicle exports from India," the company stated. Maruti Suzuki shares were trading at Rs 12,687.05 apiece at the day's close, down 1.7 per cent from its previous close on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

Maruti Suzuki Q4 net profit rises 47.8% to ₹3,877.8 crore

The Indian Energy Exchange (<keyword id="19906388" type="General" weightage="20" keywordseo="IEX" source="keywords">IEX</keyword>) has posted a 9.5 per cent rise in <keyword id="20569223" type="General" weightage="20" keywordseo="consolidated-profit" source="keywords">consolidated profit</keyword> after tax at Rs 96.7 crore for the March 2024 quarter on account of higher <keyword id="19942932" type="General" weightage="20" keywordseo="income" source="keywords">income</keyword>. It had clocked Rs 88.34 crore profit after tax (PAT) during the fourth quarter of the last fiscal, the company said in an exchange filing on Wednesday. The company's total income rose to Rs 149.28 crore, from Rs 129.58 crore in January-March FY23. During the period under review, its expenses stood at Rs 22.65 crore, as against Rs 19.52 crore a year ago. In FY24, the consolidated PAT rose 14.7 per cent to Rs 350.78 crore, from Rs 305.88 crore in FY23. Income for the full year was at Rs 550.84 crore, up from Rs 474.10 crore. The Board of Directors of the company announced a final dividend of Rs 1.50 for FY24. Sharing business updates, IEX said 110.1 billion units of electricity traded on its platform during the fiscal year 2023-24, registering a year-on-year (y-o-y) increase of 13.7 per cent. The DAM (day-ahead market) prices on the exchange declined to Rs 5.24/unit in FY24, lower by 12 per cent y-o-y compared with Rs 5.94/unit in FY23. During <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24, IEX achieved 30.1 BU volume across all segments, registering an increase of 15.5 per cent on y-o-y basis. This volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lac Renewable Energy Certificates (RECs) (equivalent to 3.2 BU). REC traded volume in the fourth quarter of 2023-24 increased by 98 per cent on y-o-y basis. The DAM prices on the exchange lowered to Rs 4.89/unit in January-March 2024, a decline of 20 per cent y-o-y compared with Rs 6.08/unit a year ago. Noida-based IEX is India's leading energy exchange providing an automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/vivo-takes-the-top-spot-in-india-top-smartphone-brands-in-q1-2024/slidelist/110150830.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/vivo-takes-the-top-spot-in-india-top-smartphone-brands-in-q1-2024/slidelist/110150830.cms" target="_blank">Vivo takes the top spot in India: Top smartphone brands in Q1 2024</a><a href="https://www.businessinsider.in/tech/news/google-i/o-2024-highlights-ask-photos-ai-overviews-ai-fraud-protection-and-more-announced/articleshow/110143756.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-2024-highlights-ask-photos-ai-overviews-ai-fraud-protection-and-more-announced/articleshow/110143756.cms" target="_blank">Google I/O 2024 highlights: Ask Photos, AI Overviews, AI fraud protection and more announced</a><a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a>

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