News

10 May

MCX Q4 profit inflation 54% to Rs 135 crore

Business CorrespondentBusiness, News

New Delhi, Multi Commodity Exchange of India Ltd (MCX) on Thursday reported a 54.15 percent rise in consolidated net profit to Rs 135.46 crore in the fourth quarter of FY 2024-25 on the back of rise in income.The company had reported a net profit of Rs 87.87 crore a year ago, it said in a regulatory filing.Total income during the March quarter of 2024-25 rose 60.68 per cent to Rs 320.49 crore from Rs 199.45 crore a year ago.Expenses rose to Rs 152.96 crore from Rs 92.96 crore in the said period.For the full year 2024-25, the company reported over…

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09 May

Canara Bank Q4 profit gain 28%, targets 11% loan growth

Business CorrespondentBusiness, News

Mumbai, May 9: State-owned Canara Bank on Thursday reported a 28 percent rise in its consolidated net profit to Rs 5,070 crore in the March quarter, driven by a reduction in provisions and a rise in non-core income.The public sector bank had reported a net profit of Rs 3,951 crore in the same period a year ago.Its post-tax profit in FY25 rose to Rs 17,540 crore from Rs 15,279 crore in FY24.Despite 11 percent loan growth, its core net interest income declined 1.44 per cent to Rs 9,442 crore in the quarter under review, while net interest margin declined 0.25…

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08 May

Aluminium futures prices gain due to fresh deals

Business CorrespondentBusiness, News

New Delhi, Aluminium prices on Thursday rose by Rs 1.40 to Rs 231.50 per kg in the futures market due to fresh deals by speculators amid positive trend in the spot market.The price of aluminium contract for June delivery on the Multi Commodity Exchange rose by Rs 1.40 or 0.61 percent to Rs 231.50 per kg in a business of 697 lots.Analysts said fresh deals by traders amid demand from consumer industries supported aluminium prices in the futures market.

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07 May

Bank of Baroda’s fourth quarter profit inflation 3% to Rs 5,048 crore

Business CorrespondentBusiness, News

New Delhi, State-owned Bank of Baroda (BoB) on Tuesday reported a marginal 3 percent rise in net profit to Rs 5,048 crore for the March quarter of FY2025.The bank had posted a net profit of Rs 4,886 crore in the same period a year ago.During the quarter, the bank's total income rose to Rs 35,852 crore from Rs 33,775 crore a year ago, BoB said in a regulatory filing.The bank's interest income rose to Rs 30,642 crore from Rs 29,583 crore in the fourth quarter of the previous fiscal.However, net interest income (NII) in the quarter declined to Rs 11,020…

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06 May

Azad Engineering share price upsurge 7.7% on ₹452 crore order from GE Vernova

Business CorrespondentBusiness, News

Shares of Azad Engineering jumped over 7% on Monday after it announced a major order from GE Vernova. The stock gained 7.7% on the NSE to close at ₹1,659 per share. Azad Engineering has signed a long-term supply agreement with GE Steam Power GmbH through its GE Vernova Power business based in Baden, Switzerland. The agreement is for the manufacture and supply of highly engineered and complex rotating and fixed airfoils for advanced nuclear, industrial and thermal power industries, meeting the global demand for GE Vernova in power generation and essential industries. This current phase of the contract, valued at…

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05 May

Indian Bank’s fourth quarter profit gain 32 percent to Rs 2,956 crore

Business CorrespondentBusiness, News

New Delhi, State-owned Indian Bank on Saturday reported that its net profit for the March 2024-25 quarter rose 32 percent to Rs 2,956 crore, led by reduction in bad loans and rise in core income.The Chennai-based lender had reported a net profit of Rs 2,247 crore in the same period a year ago.During the quarter, the bank's total income rose to Rs 18,599 crore from Rs 16,887 crore a year ago, Indian Bank said in a regulatory filing.Interest income rose to Rs 15,856 crore from Rs 14,624 crore in the fourth quarter of the previous fiscal. Net interest income (NII)…

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03 May

Gold futures prices inflation: Price rises to Rs 92,811 per 10 grams

Business CorrespondentBusiness, News

New Delhi, May 3: Gold prices on Friday rose by Rs 472 to Rs 92,811 per 10 grams in futures trade as speculators created fresh deals amid strong spot demand.Gold contracts for June delivery on the Multi Commodity Exchange rose by Rs 472, or 0.51 percent, to Rs 92,811 per 10 grams in a business turnover of 14,987 lots.Analysts said fresh deals by participants led to the rise in gold prices.Globally, gold futures in New York rose 0.68 percent to $3,261.31 an ounce.

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02 May

Ujjivan Small Finance Bank Q4 profit reduce 75% to ₹83 crore, shares down 3%

Business CorrespondentBusiness, News

Ujjivan Small Finance Bank (SFB) on Wednesday reported that its net profit for the three months ended March 2025 fell 75% to ₹83.39 crore, due to higher provisions for bad loans.The bank had posted a net profit of ₹329.63 crore in the same period a year ago.Its total income rose to ₹1,843 crore in the January-March quarter of financial year 2024-25 (FY25) from ₹1,765 crore in the same period a year ago, Ujjivan Small Finance Bank said in a regulatory filing.Total provisions excluding tax rose to ₹264.50 crore in the quarter under review from ₹79 crore in the same quarter…

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30 Apr

Gold futures price reduce by Rs 550 to Rs 95,475 per 10 grams

Business CorrespondentBusiness, News

New Delhi, Gold futures price fell by Rs 550 to Rs 95,475 per 10 grams in futures trade on Tuesday amid weak spot demand.Gold contracts for June delivery on the Multi Commodity Exchange fell by Rs 550 or 0.57 percent to Rs 95,475 per 10 grams in a business turnover of 17,745 lots.Analysts attributed the fall in gold prices to weak global cues.In international markets, gold futures in New York fell 0.80 percent to $3,317.18 an ounce.

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29 Apr

Ambuja Cements Q4: Net profit lapse 9%, EBITDA rises 12%; company announces dividend

Business CorrespondentBusiness, News

Ambuja Cements Q4: Adani Group-owned Ambuja Cements announced its January-March quarter earnings on Tuesday, April 29. The company reported a consolidated net profit of ₹956 crore in the fourth quarter of financial year 2024-25 (Q4FY25), showing a 9% decline from ₹1,051 crore in the same period last year.Its revenue from operations grew nearly 12% to ₹9,802.5 crore in the March quarter as against ₹8,785 crore in the same period a year ago.Ambuja Cements reported stable operating performance in the fourth quarter as its operating profit also known as earnings before interest, tax, depreciation and amortization (EBITDA) grew 12% to ₹1,781…

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