Business

Private sector lender ICICI Bank on Saturday reported a 14.6% year-on-year rise in its net profit for the first quarter of the current financial year (QIFY25), driven by higher treasury and other income. For the three months to June, the bank's net profit was ₹11,059 crore, compared with ₹9,648 crore in the same period last year.Growth in non-interest income, or other income, was a significant contributor, rising 23.3% year-on-year (YoY). India's second-largest private bank saw a rise in dividend income from its subsidiaries, with other income totaling ₹6,389 crore, compared to ₹5,183 crore a year ago. Notably, dividend income increased to ₹894 crore from ₹291 crore in the corresponding quarter last year.There was also a strong turnaround in treasury income at the end of June quarter, whi...

SBI Cards and Payment Services on April 26 announced an 11.05 percent year-on-year (YoY) growth in its net profit for the March quarter of financial year 2023-24 at ₹596.47 crore, compared to the reported ₹596.47 crore. Reached Rs 662.37 crore.The company's revenue also grew by over 14 per cent to ₹4,475 crore in Q4FY24, compared to ₹3,917 crore in the same period a year ago. The moment was led by interest income rising 28 per cent to ₹2,139 crore in Q4FY24 from ₹1,672 crore in Q4FY23.Gross non-performing assets (GNPA) stood at 2.76 percent of gross advances as of March 31, 2024, while it stood at 2.35 per cent as of March 31, 2023. Net non-performing assets as of March 31 stood at 0.99 per cent. 2024 as against 0.87 percent till March 31, 2023.In the fourth quarter of financial year 2023...

Adani Green Energy on July 25 announced a 95 per cent rise in consolidated net profit to ₹629 crore for the quarter ending June 30, 2024. In comparison, the company had reported a consolidated net profit of ₹323 crore during the same period. Last year's period.The Adani group company's total income rose 22.5 per cent to ₹3,122 crore in Q1FY25, compared to ₹2,550 crore in the year-ago period, according to exchange filings.“We are continuously working towards the development of the world's largest single-site renewable energy plant of 30 GW at Khavra, Gujarat. To enable quick implementation, we have deployed advanced robotics technology for installation of solar modules, significantly increasing productivity.Additionally, we have developed an extensive local supply chain and established con...

European major Airbus has shortlisted eight sites in India to set up its final assembly line for H125 helicopters and the ground-breaking ceremony for the facility is expected to take place later this year.Airbus officials said the facility, which will be the fourth final assembly line (FAL) for the single-engine H125, will initially produce 10 helicopters annually and the capacity will be increased depending on market demand."India is the future market for helicopters... Currently, the market is extremely nascent, very small compared to what the potential could be," said Oliver Michelon, executive vice president, Global Business, Airbus Helicopters.The foundation stone laying ceremony for FAL is expected to take place in October or November this year and the facility will be commissioned...

Reliance Industries Ltd (RIL) has reported 5.45 percent decline in net profit at Rs 15,138 crore during the quarter ended June 2024 compared to Rs 16,011 crore during the same period a year ago due to weak O2C business and higher depreciation. Was. On a sequential basis, net profit declined 20.12 percent to Rs 18,951 crore in the March 2024 quarter.RIL's total income rose 11.90 percent to Rs 240,200 crore during the June 2024 quarter from Rs 214,644 crore a year ago.The company's oil-to-chemicals (O2C) EBITDA was down 14.3 percent due to lower gasoline cracks (-30 percent) and lower downstream chemical deltas, particularly PE (-17 percent), PP (-16 percent). ) and integrated polyester margin (-15 percent). Depreciation increased 15.5 percent to Rs 13,596 crore ($1.6 billion) due to expand...