Business

24 Jan

Indus Towers shares surge on rise in Q3 earnings, Citi expects 32% surge

Business CorrespondentBusiness, News

Shares of telecom company Indus Towers rose two percent in the morning session on January 24 after the company reported better-than-expected earnings for the quarter ended December (Q3) of the current financial year (FY25). Indus Towers reported a consolidated net profit of Rs 4,003 crore for the quarter, registering a growth of 159.9 percent from Rs 1,541 crore in the corresponding quarter of the previous fiscal, led by significant collection of dues from Vodafone Idea and strong tower additions. The company saw its revenue from operations grow by 4.8 per cent to Rs 7,547 crore from Rs 7,199 crore in…

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23 Jan

Ujjivan Small Finance Bank Q3 results: Rise in provisions leads to 64% plunge in profit

Business CorrespondentBusiness, News

Ujjivan Small Finance Bank Ltd reported a 64% year-on-year drop in its profit during the three months ended December to Rs 109 crore due to a rise in provisions. Sequentially, the bank's profit declined 53%.The bank's provisions and contingencies rose to Rs 223 crore, up sharply from Rs 63 crore a year ago. A marginal rise in net interest income also capped the small finance bank's net interest income at Rs 887 crore, up 3% year-on-year. As a result, net interest margin fell to 8.6% in the October-December period from 9.2% a quarter ago and 8.8% a year ago. The…

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22 Jan

KISNA Jewellery’s campaign drives sales, awards 100 cars nationwide

Business BureauBusiness

KISNA Diamond and Gold Jewellery, one of India’s leading jewellery retail chains, has given away 100 Maruti Celerio cars to lucky customers, spread across the country. The cars were handed over to winners simultaneously at 11 cities as part of the grand conclusion of #Abki_Baar_Aapke_Liye campaign. Over 51,219 people participated in this engaging initiative, making it one of the most significant campaigns in KISNA’s history as well as the industry. The campaign, which went live on September 1, 2024, and concluded on January 18, 2025, offered participants the chance to win a car through a purchase of diamond, platinum, or…

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22 Jan

HDFC Bank Q3 results: Profit may rose to 3%, NII 6-8%; know what to watch out for

Business CorrespondentBusiness, News

HDFC Bank Q3 results: The largest private lender is likely to report a 0-3 percent rise in net profit for the December quarter, while net interest income (NII) will grow 6-8 percent. Provisions may rise sequentially, but decline on a year-on-year (YoY) basis. Net interest margin (NIM) may remain stable, banking analysts said, adding that management commentary on loan growth will be closely watched later today. Axis Securities expects HDFC Bank to report a 2.2 per cent year-on-year (YoY) rise in net profit at Rs 16,737 crore for the December quarter, as against Rs 16,373 crore in the same quarter…

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21 Jan

Airtel and Bajaj Finance forge partnership to boost digital financial services

Business BureauBusiness

Bharti Airtel and Bajaj Finance have entered into a groundbreaking partnership to create one of India's largest digital platforms for financial services, aimed at transforming the last-mile delivery of financial products and fostering digital inclusion across the country. Airtel, with its 375 million strong customer base, will progressively offer Bajaj Finance’s retail financial offerings through the Airtel Thanks App and its extensive network of stores. The partnership combines Airtel’s robust digital platforms and distribution capabilities with Bajaj Finance’s diverse suite of 27 products and its AI-driven strategy for efficient credit underwriting. Gopal Vittal, Vice Chairman and MD of Bharti Airtel,…

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21 Jan

Zomato Q3 results: Net profit decrease 57.2% to Rs 59 crore as against Rs 138 crore a year ago; shares fall

Business CorrespondentBusiness, News

Zomato Q3 results: Zomato on Monday reported a 57.24 per cent drop in its net profit to Rs 59 crore for the December 2024 quarter (Q3 FY25), according to a regulatory filing. Following this, its shares declined 7 per cent intra-day and closed at Rs 240.95 per share, down 3.14 per cent from the previous day.However, the food delivery platform's revenue grew 64 per cent to Rs 5,405 crore during October-December 2024 as against Rs 3,288 crore in the same period a year ago.Importantly, its quick commerce Blinkit, which had kept Zomato profitable in previous quarters, has reported an EBIT…

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20 Jan

Havells India shares upsurge despite marginal drop in third quarter net profit

Business CorrespondentBusiness, News

Havells India Ltd shares jumped on January 20 despite the company reporting a marginal drop in net profit in the December quarter. The home appliance maker's profit fell to Rs 283 crore from Rs 288 crore a year ago in the quarter ended December 31. Havells' revenue from operations rose nearly 11% to Rs 4,883 crore, while total expenses rose 12.3% to Rs 4,564 crore. Havells India shares were trading 1.5% higher at Rs 1,598 per share at 1:35 pm on January 20. This performance reflected strong demand from its switchgear project business, but it suffered inventory de-stocking in wires…

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20 Jan

Maruti Suzuki e VITARA powers India’s EV market growth

Business BureauBusiness

Maruti Suzuki India Limited (MSIL) has launched its first Battery Electric Vehicle (BEV), the e VITARA, at the Bharat Mobility Global Expo 2025, showcasing its commitment to decarbonisation and mobility for all. Built on the new HEARTECT-e platform, the e VITARA promises superior performance, an impressive range of over 500 km, and a host of premium features including Level 2 ADAS and next-gen connectivity. Mr. Toshihiro Suzuki, President of Suzuki Motor Corporation, emphasized the company's strategy to make BEVs appealing through dedicated platforms and tailored products, with India chosen as the global manufacturing hub. MSIL's Managing Director, Mr. Hisashi Takeuchi,…

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18 Jan

Royal Stag BoomBox returns with electrifying third edition, set to redefine music festivals

Business BureauBusiness

Seagram’s Royal Stag BoomBox is back for its third edition, blending the soulful melodies of Bollywood with the high-energy beats of hip-hop. The immersive music festival, which has captivated audiences in its previous two editions, will tour across major youth hubs – Hyderabad, Mumbai, Gurugram, and Guwahati. This year's star-studded lineup includes Armaan Malik, Amit Trivedi, Neeti Mohan, Raftaar, Ikka, and DJ Yogii, promising an unforgettable experience for music lovers. The festival is not just about live performances but also offers interactive experiences like art installations, AR/VR technology, and AI-powered personalization. In a first, Royal Stag BoomBox will integrate gaming…

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18 Jan

Havells shares upgrade, company’s Q3 revenue rises 10% to Rs 4,889 crore

Business CorrespondentBusiness, News

Havells India shares jumped 1.08% on January 17 after the company announced its Q3 results on January 16. The company's revenue from operations grew 10% to Rs 4,888.98 crore in Q3 FY25 as against Rs 4,413.86 crore in Q3 FY24. The shares opened 0.79% lower at Rs 1,544.95 and later recovered from the losses by hitting an intraday high of Rs 1,617.95 in the early morning hours of January 17. The stock later pared some gains and traded at Rs 1,574.15. Though the company reported a rise in revenue, its net profit declined to Rs 278 crore in Q3 FY25.…

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