Mumbai: HDFC Bank Ltd, India's No.3 lender by loan value, met forecasts with a 30 per cent rise in quarterly profit on Tuesday led by higher loan growth, fee income and stable asset quality.
Mumbai-based HDFC Bank, which has posted profit growth of more than 30 per cent every year for the last decade, said its net profit rose to Rs 18.9 billion in the quarter ended in March from about Rs 14.53 billion a year earlier. Net interest income grew about 21 per cent to Rs 42.9 billion.
According to Thomson Reuters I/B/E/S, analysts had expected a net profit of Rs 18.87 billionfor the bank, which is also listed in New York and competes with bigger local rivals State Bank of India and ICICI Bank.
Asset quality, valued by the market at about $31 billion, was stable with net non-performing loans as a percentage of total assets at 0.2 per cent. The bank's net interest margin, a key gauge of profitability, is among the highest in the sector at 4.5 per cent compared with 4.4 per cent a year ago....
more
03:50 PM, Apr 23, 2013
State Bank of India, the country's biggest lender, reported a 4 per cent gain in quarterly net profit, the smallest increase in more than a year, as higher provisions for bad loans and slower loan demand hurt growth. ...
01:07 PM, Feb 14, 2013
German luxury car maker Audi today launched the petrol variant of its popular sports utility vehicle Q3 priced at Rs 27.37 lakh (ex-showroom Maharashtra). ...
07:39 PM, Feb 13, 2013
Bharti Airtel, India's largest private mobile operator, on Friday reported a 72 per cent slump in its third quarter net profit as a weak rupee increased interest and network equipment costs. This is the 12th consecutive quarter for Bharti Airtel when profit has dropped. Net profit in October-December slumped to Rs 284 crore from Rs 1,011 crore a year ago. ...
05:01 PM, Feb 01, 2013
Riding on good sales of new models like Ertiga and Swift DZire, and benefiting from low base effect, the country's largest car maker Maruti Suzuki India on Friday reported an over two-fold jump in net profit at Rs 501.29 crore for the third quarter ended December, 2012. The company's net profit stood at Rs 205.62 crore during the same period last fiscal. ...
02:58 PM, Jan 25, 2013
India's largest software services exporter Tata Consultancy Services (TCS) net profit rose higher than expected 1.1 per cent quarter-on-quarter to Rs 3,551.1 crore in the third quarter of current financial year 2012-13. Revenues grew by 2.9 per cent to Rs 16,069.9 crore in the October-December quarter of 2012 from Rs 15620.8 crore in previous quarter, which too were ahead of forecast. ...
05:14 PM, Jan 14, 2013
IT bellwether Infosys has reported higher than expected numbers on all parameters in the third quarter ended December 2012. Consolidated net profit remained unchanged at Rs 2,369 crore in the quarter. At 9.16 am, Infosys was quoting at Rs 2,552.35, up Rs 232, or 10 per cent. ...
09:56 AM, Jan 11, 2013
IT bellwether Infosys has reported good numbers in the third quarter ended December 2012. Net profit fell 4.4 per cent quarter-on-quarter to Rs 2,265 crore in the quarter. ...
08:57 AM, Jan 11, 2013
On this episode we bring you an exclusive drive of the Volkswagen Jetta TSI and more. ...
11:52 PM, Jun 30, 2012
Around a year ago I recollect Michael Perschke, head of Audi India telling me just how strongly Audi is keeping away from the numbers game. Quality and reaching out to a very particular clientele he assured me was their focus and through that strategy the numbers would eventually start rolling in. It was a vision you couldn't argue with, it may have seemed a bit naive at the time, but...
10:20 AM, Jun 10, 2012
Audi's much awaited baby SUV, the Q3 is finally here in India with bookings to start from April end and deliveries in May. The Q3 promises to bring in Q5/Q7 quality at a relatively affordable package. The Q3 will initially be launched with a 2.0-litre TDI engine producing 176PS of power mated to a 7-speed S-tronic box, with the 2.0-litre TFSI scheduled for later this year. Audi will also be...
07:36 PM, Apr 10, 2012
New Delhi: India's economic growth slowed to its weakest annual pace in almost three years in the three months to December, as high interest rates and rising input costs constrained investment and manufacturing. Gross domestic product rose 6.1 per cent in October to December compared with a year earlier, a lower than expected increase, figures from the federal statistics office showed. That marked a sharp pullback from 6.9 per cent...
02:13 AM, Mar 01, 2012
New Delhi: Finance Minister Pranab Mukherjee on Wednesday termed the third quarter GDP number of 6.1 per cent as "disappointing" but expressed the hope that economy will register a growth of 7 per cent for the entire fiscal. "No doubt, it is disappointing 6.1 per cent... but not unexpected," he said. "If, I take first quarter, second quarter, third quarter taken together, it is also indicating a downward trend," he...
01:37 AM, Mar 01, 2012
New Delhi: India's Gross Domestic Product (GDP) has dipped sharply to 6.1 per cent in the third quarter ending December 2011. The growth is the lowest in almost two years and analysts say the outlook is ominous if the Centre and the Reserve Bank of India (RBI) don't take remedial action immediately. The GDP growth is the slowest in 11 quarters. It was 6.9 per cent in the previous quarter...
11:31 AM, Feb 29, 2012
Mumbai: Kingfisher Airlines has reported a 75 per cent jump in its net loss to Rs 444 crore for the December quarter from a year earlier amid high fuel cost and a weaker rupee, said the company in a statement. The airline which has discontinued operations on its low cost arm Kingfisher Red also saw its revenues drop 5 per cent to Rs 1547 crore. "Steep depreciation of the Indian...
09:56 AM, Feb 16, 2012
Mumbai: Tata Motors on Tuesday reported 40.51 per cent jump in consolidated net profit to Rs 3,406 crore for the quarter ended December 31, 2011. The company had posted a net profit of Rs 2,424 crore in the corresponding period last financial year, Tata Motors said in a statement. The consolidated revenue during the third quarter also increased by 43.95 per cent to Rs 45,260 crore from Rs 31,442 crore...
06:51 PM, Feb 14, 2012
Mumbai: Despite reporting nearly Rs 40-crore loss in the December quarter due to a 90 per cent spike in fuel costs, no-frills carrier SpiceJet on Monday ruled out increasing fares. "We are not looking at increasing our fares now, as the market dynamics does not allow us that. Also, we are confident of improving earnings going forward, and we hope to improve our revenues further from the 41 per cent...
11:13 PM, Feb 06, 2012
Mumbai: Third largest (among listed companies) software services provider Wipro has reported a consolidated net profit of Rs 1,456 crore in the third quarter of FY12, a growth of 12 per cent as compared to Rs 1,299.9 crore in the previous quarter. Consolidated revenue jumped 11 per cent to Rs 9,997 crore from Rs 9,007 crore quarter-on-quarter. Numbers were better than analysts' expectations; CNBC-TV18 poll had expected revenues at Rs...
08:58 AM, Jan 20, 2012
Mumbai: HDFC Bank on Thursday reported a 31 per cent growth in its net profit at Rs 1,429.66 crore for the December quarter, mainly on account of increase in interest income and lower provisioning for bad loans. The bank's net profit in the October-December 2010 was Rs 1,087.83 crore. During the quarter, net interest income of the bank rose 12 per cent y-o-y to Rs 3,116 crore, HDFC Bank said...
06:49 PM, Jan 19, 2012
Mumbai: Infosys, the second largest software services exporter, reported a better than street expected numbers in the third quarter of FY12 but the company disappointed with its dollar revenue guidance for FY12. The company posted a net profit of Rs 2,372 crore in the third quarter, a growth of 24.5 per cent as compared to Rs 1906 crore in the previous quarter. Its revenues moved up 14.8 per cent to...
09:15 AM, Jan 12, 2012
