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
New Delhi: India's premier military weapons developer, the Defence Research and Development Organisation (DRDO), was Thursday awarded the Thomson Reuters India Innovation Award for 2011 in recognition of its work in the field of science and technology. The award was presented to DRDO by Minister of State for Science and Technology Ashwani Kumar at an event organised here by Thomson Reuters and the Confederation of Indian Industry, a release said....
01:28 PM, Nov 18, 2011
London: Thomson Reuters released its list of the 100 most innovative organisations in the world. The list dominated by technology companies includes the likes of Apple, Microsoft, Intel, LG and Motorola. The struggling Finnish mobile phone giant Nokia is not amongst the top 100. "Innovation is a means of growth and prosperity for companies and nations seeking to overcome sluggish economies and achieve competitive advantage," said David Brown, president of...
05:27 PM, Nov 15, 2011
Bangalore: Infosys Ltd on Wednesday said it is keen to acquire Thomson Reuters' healthcare business. "We are dating...not yet engaged", Infosys CEO and Managing Director SD Shibulal said at a press conference. "....we need to understand each other. So, we are definitely...we have an intention to get engaged," he added. There have been reports that Infosys is close to acquiring Thomson Reuters' healthcare business for $ 700 to 750 million....
04:40 PM, Oct 12, 2011