Debt-free companies are considered self-reliant as they do not have any outstanding financial obligations which need to be repaid over time. Generally, financial liabilities attract a certain type of charges, or interest that is an additional cost for the company. Hence, debt-free companies are generally considered to be low-risk investments. Here is a list of [...]
Private sector lender Kotak Mahindra Bank on Saturday reported a 26 per cent rise in net income at Rs 2,071.15 crore in the June quarter, buoyed by record margins and a decline in bad loans. On a consolidated basis, the city-headquartered financial services group, which is also into life and non-life insurance, share broking, asset [...]
ICICI Bank on Saturday reported a 55.04 per cent jump in its June quarter consolidated net profit to Rs 7,384.53 crore, helped by a sharp reduction in provisions and the core interest income continuing to be strong. On a standalone basis, the second-largest private sector lender reported a net profit of Rs 6,904.94 crore against [...]
Yes Bank on Saturday reported 50 per cent increase in net profit at Rs 311 crore for June quarter 2022-23 on fall in provisions for bad loans, and healthy income growth. The bank had clocked a net profit of Rs 207 crore in the year-ago period, it said in a regulatory filing. Total income during [...]
Karnataka Bank on Saturday reported nearly 8 per cent increase in net profit at Rs 114 crore for June quarter 2022-23 helped by a growth in core income and fall in bad loans. The private sector lender had posted a net profit of Rs 105.91 crore in the year-ago period. Total income during April-June 2022-23 [...]
Banks are unlikely to take a big hit on profitability this quarter due to rising bond yields, which may eat up 5.3 per cent (Rs 11,790 crore) of their net income in the worst-case scenario, according to a report. In the worst-case scenario, banks may see a profit erosion of 2.6 per cent of their [...]
Mid-size information technology company Persistent Systems on Friday reported a 40 per cent jump in its June quarter net profit to Rs 211.6 crore. The Pune-headquartered company reported a 52.7 per cent rise in its revenue to Rs 1,878 core. Its chief executive Sandeep Kalra said the company is not very worried about the macro [...]
India's largest telecom operator Reliance Jio Infocomm on Friday reported a nearly 24 per cent rise in its June quarter net profit to Rs 4,335 crore as tariff hike and improved subscriber mix boosted revenues and realisation. Billionaire Mukesh Ambani-led Reliance Jio clocked revenue from operations of Rs 21,873 crore in the just-ended quarter, which [...]
Reliance Retail on Friday reported over two-fold jump in pre-tax profit at Rs 3,897 crore for June 2022 quarter, led by higher contribution from fashion & lifestyle and consumer electronics business. The retail arm of Reliance Industries Ltd (RIL) said it had posted a pre-tax profit or EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) [...]
Union Bank of India on Friday said it will raise Rs 1,320 crore next week by issuing bonds on a private placement basis. The bank said it has accepted bids of Rs 1,320 crore in an issue of Rs 2,100 crore with a base issue size of Rs 600 crore and a green shoe option [...]
