SBI Q2 Results: PAT rises 8% YoY to Rs 14,330 crore, but trails estimate
SBI Q2 Results: Net interest income (NII), the difference between interest earned and interest expended, rose over 12% on year to Rs 39,500 crore, and was the above estimated Rs 38,500 crore. Gross non-performing assets ratio as of September end was 2.55%, compared with 3.52% a year ago, and 2.76% a quarter ago. Net non-performing assets ratio as of September end was 0.64%, compared with 0.80% a year ago, and 0.71% a quarter ago. Key Points
Economic TimesIDFC First Bank Q1 results: PAT soars 61.3% YoY to Rs 765 crore, NII grows 36%
Provisions and contingencies for the quarter was Rs 476 crore, compared to Rs 308 crore a year ago. Gross non-performing assets (NPA) as a percentage of the total loans was 2.17% as of June end, compared to 3.36% a year ago, and 2.51% a quarter ago. Key Points
Economic TimesIDBI Bank Q2 results: PAT soars 60% YoY to Rs 1,323.3 crore, NII up 12%
The state-owned lender had a provision write-back of Rs 227.5 crore in the quarter. In the same period last year its provisions was Rs 771 crore. Key Points
Economic TimesBank of Baroda Q2 Results: PAT rises 28% YoY to Rs 4,253 crore; NII up 6.5%
Bank of Baroda Q2 Results: Net interest income (NII), the difference between interest earned and interest expended, grew by 6.5% YoY to Rs 10,831 crore. The non-interest income grew more than two-fold on year to Rs 4,171 crore during the quarter. Operating profit for the quarter increased by 33% on year to Rs 8,020 crore. The cost-to-income ratio reduced to 46.54% from 49.74% a year ago. Key Points
Economic Times'Zombie viruses' trapped in Arctic ice could unleash deadly new pandemic. Here is what we know
The deepest layers of permafrost could be preserving viruses that inhabited the Earth up to a million years ago. It was long before humans most ancient ancestors made their first appearance on the planet some 300,000 years ago. Know in detail how these 'zombie viruses' can spread the pandemic. Key Points
Economic Times
Woman eats homemade jam prepared over 27 years ago. Watch her reaction
A woman found a 27-year-old bottle of jam at her grandparents' house. Though the item was prepared almost three decades ago, she decided to eat it. | Trending Key Points
Hindustan TimesA frigid apocalypse doomed early humans in Europe
Long before our species Homo sapiens trekked out of Africa, earlier human species also spread to other parts of the world. That dispersal, however, sometimes encountered grave hardships. Key Points
ReutersOldest fossils of remarkable marine reptiles found in Arctic
The researchers had thought any ichthyosaur living 250 million years ago would have been a primitive form, not far removed from its land-living forerunners. The fossils showed this one, which has not yet been given a scientific name, was quite advanced anatomically. Key Points
The Indian ExpressYES Bank Q3 Results: PAT soars 4x YoY to Rs 231 crore, NII rises 2.4%
YES Bank Q3 Results: Provisions for the quarter dropped sharply, which aided growth in the bottom line. Provisions and contingencies for the reported period stood at Rs 555 crore, compared with Rs 845 crore a year ago. Despite this, the pre-provision operating profit declined 5.4% YoY to Rs 864 crore. Key Points
Economic TimesBilkis Bano case breaking live: SC quashes order of remission by Gujarat govt
Bilkis Bano case live updates: The early release of 11 convicts who raped Bilkis Bano and killed her family during the 2002 Gujarat riots was challenged in the Supreme Court. The convicts were released by the Gujarat government in 2022. Key Points
Business Today
LIC Q2 Results: PAT slumps 50% YoY to Rs 7,925 crore, net premium income drops 19%
Net commission for the quarter stood at Rs 6,077 crore, compared with Rs 5,808 crore a year ago. The solvency ratio as of September-end stood at 1.90 times, compared with 1.88 times a year ago. The gross non-performing assets ratio as of September 30 was 2.43%, compared with 5.60% a year ago, and 2.48% a quarter ago. Key Points
Economic TimesIndusInd Bank Q1 Results: PAT rises 33% YoY to Rs 2,124 crore, meets estimates
IndusInd Bank's total income in the June quarter increased by 28% YoY to Rs 12,939 crore. Net interest income, the difference between interest earned and interest expended, rose 18% YoY to Rs 4,867 crore. The banks operating profit, before provisions and contingencies, grew 13% YoY to Rs 3,830 crore. Provisions for the said quarter stood at Rs 992 crore, compared with Rs 1,251 crore a year ago. Key Points
Economic TimesThis pendant is 20,000 years old. Ancient DNA shows who wore it
The pendant's maker drilled a hole in the tooth to allow for some sort of now-lost cordage. The tooth alternatively could have been part of a head band or bracelet. Key Points
India TodayMFI loan collections improve in October-December qtr
Portfolio at risk for 30 days past due bucket improved to 3.8% as on December 31 from 9.2% a year ago. Key Points
FinancialexpressBPCL Q3 Results: PAT soars 73% YoY to Rs 3,397 crore despite fall in revenue
BPCL Q3 Results: BPCL's quarterly net profit rose by 73.4% YoY to Rs 3,397.30 crore, surpassing the estimated Rs 3,271 crore. Revenue from operations declined 3% YoY to Rs 1.15 lakh crore but exceeded the estimated Rs 1.05 lakh crore. Total expenses dropped to Rs 1.26 lakh crore from Rs 1.32 lakh crore a year ago. Refinery throughput increased to 9.86 million tonnes from 9.39 million tonnes a year ago. Market sales rose marginally to 12.92 million tonnes from 12.81 million tonnes a year ago. Key Points
Economic Times
ICICI Bank Q2 results: PAT soars 36% YoY to Rs 10,261 crore, NII grows 24%
Provisions in the quarter dropped sharply to Rs 583 crore, from Rs 1,645 crore a year ago, and Rs 1,292.4 crore a quarter ago. Key Points
Economic TimesNTPC Q1 results: PAT rises 9.4% YoY to Rs 4,066 crore, sales drop 2.3%
Operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), grew by nearly 17% on year to Rs 11,369.40 crore. Operating margin expanded a sharp 471 basis points to 29.06%. Key Points
Economic TimesWhen Earth froze to death but somehow life survived
Earth formed approximately 4.5 billion years ago. The first single-celled organisms arose sometime during roughly the first billion years of the planet's existence. Key Points
India TodayFiscal gap till January shrinks
The central government contained its fiscal deficit in the 2023-24 financial year at 63.6% of the revised target despite a moderation in nominal GDP growth. The deficit dropped 7.3% from a year ago period to ₹11.03 lakh crore. Revenue spending moderated while capital spending remained lower than the revised target. Key Points
Economic TimesWhen did humans arrive in America: Research, timeline, footprints| Insights
Research on the footprints found in New Mexico has proved that humans came to America 23,000 years ago. Know in detail. Key Points
Economic Times
IDBI Bank Q3 Results: PAT soars 57% YoY to Rs 1,458 crore, NII rises 17%
IDBI Bank Q3 Results: Net interest income, the difference between interest earned and interest expended, rose 17.4% YoY in the quarter to Rs 3,434.60 crore. Key Points
Economic TimesReliance Jio Q3 Results: PAT rises 12% YoY to Rs 5,208 crore, revenue up 10%
Revenue increased 10.3% YoY to Rs 25,368 crore. Sequentially, the bottomline rose nearly 3% and the topline grew 2.5%. Total expenses for the December quarter increased to Rs 18,518 crore from Rs 16,839 crore a year ago, and 18,063 crore a quarter ago. Network operating expenses rose to Rs 7,706 crore from Rs 7,227 crore a year ago and Rs 7,607 crore a quarter ago. Key Points
Economic TimesHDFC Bank Q3 Results: PAT rises 34% YoY to Rs 16,373 crore, tops estimates
Net interest income, the difference between interest earned and interest expended, rose 24% YoY to Rs 28,471.34 crore. Key Points
Economic TimesIndiGo Q2 Results: Airline posts Rs 188-crore profit vs loss a year ago
Sequentially though, the bottomline was far lower than the Rs 3,091-crore profit posted in the June quarter, while revenue declined by more than 10% since the second quarter is typically a seasonally weak one for the sector. Earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR), surged to Rs 2,446 crore for the quarter, from Rs 229 crore a year ago. The operating margin subsequently expanded to 16.4% from 1.8% a year ago. Key Points
Economic TimesVedanta Q3 Result Preview: Higher prices may drive EBITDA; all eyes on debt reduction roadmap
The company is expected to report consolidated revenue of Rs 33,676-35,477 crore, according to estimates given by three brokerage firms. This is compared to a revenue of Rs 34,102 crore a year ago and Rs 34,184 crore a quarter ago. Key Points
Economic Times
Twinkle Khanna graduates from UK's Goldsmith College at the age of 50, husband Akshay calls her 'super woman'
'And it's here. Graduation day. My first day at Goldsmiths feels like it was both yesterday and years ago. A sunny day, a pretty sari, and having my family with me make this day even more perfect than I ever imagined,' Khanna wrote Key Points
FirstpostICICI Bank shares gain 1% on strong Q2 earnings. Should you buy?
India's second-largest private lender, ICICI Bank, on Saturday reported a 36% year-on-year (YoY) growth in net profit for the quarter ended September to Rs 10,261 crore. Net interest income increased 24% on year to Rs 18,308 crore. Total income for the quarter increased 31% on year to Rs 40,697 crore. Key Points
Economic TimesIndia's HPCL posts biggest quarterly profit in a decade
India's Hindustan Petroleum Corp Ltd (HPCL) (HPCL.NS) on Wednesday posted its biggest quarterly profit in more than a decade, aided by higher marketing margins and a fall in crude prices. Key Points
ReutersYES Bank Q1 Results: Profit rises 10% YoY to Rs 343 crore; NII up 8%
Its net interest income was up 7.8% from a year ago and stood at Rs 1,999.6 crore. Key Points
Economic TimesRise in local bond yields pushes up forward premia
On Monday, the one-year annualised dollar-rupee forward premium rate was at 1.86% as against 1.76% a week ago. A year ago, the premium was at 4.22%. The sharp narrowing of the forward premium rates is owing to the higher quantum of rate hikes carried out by the US Federal Reserve vis-a-vis the tightening conducted by the RBI. Key Points
Economic Times
A ‘warm ice age’ may have permanently changed Earth’s climate cycles
In about every 100,000 years, the Earth shifted between distinct glacial (ice age) and warm periods. But that only started about 700,000 years ago. Key Points
The Indian ExpressTCS beats Q4 profit view as deal momentum intact
India Business News: The company's net profit rose more than 14% to Rs 11,436 crore ($1.39 billion) in March quarter against Rs 9,959 crore a year ago. With today's result Key Points
Times Of IndiaIndiana Jones 5 expected to debut at Cannes Film Festival
Indiana Jones and the Kingdom of the Crystal Skull debuted at the fest 15 years ago. A year ago, Paramount's Top Gun: Maverick, was screened at Cannes. And in 2018, Lucasfilm brought Solo: A Star Wars to the fest. Key Points
The Indian ExpressTax havens’ share in FPI assets hits record low
The drop in the share of tax haven countries was offset by the rising share of highly regulated nations such as the USA, UK, Norway and Japan. The share of USA domiciled funds rose to a record high of 42% in February compared with 38.8% a year ago and 35% five years ago. Key Points
Economic TimesHDFC Bank Q4 results: PAT rises 20% YoY, dividend of Rs 19/share announced
The pre-provision operating profit (PPoP) rose 14.4% YoY to Rs 18,621 crore. Provisions and contingencies for the quarter were Rs 2,685.4 crore compared with Rs 3,312.4 crore in the corresponding quarter a year ago. Key Points
Economic TimesI'm in a same-sex marriage and feel unsafe starting a family in the US
Mrigaa Sethi had to leave the US after her visa was denied. Now, she's returning with her American wife and is anxious about their safety. Key Points
InsiderFund raise to aid Punjab & Sind Bank’s expansion: MD & CEO
The bank’s capital adequacy ratio was 17.1% as of March 31, 2023, marginally lower than 18.54% a year ago. Key Points
FinancialexpressPorinju Veliyath on Raymond deal, the next basket for multibaggers & more
Porinju Veliyath believes that it will not be easy to create alpha investing in the well-known largecap companies, but one can still invest in them. He continues to believe in the India story, and that India's era is just starting, which is where China was in 2007. Veliyath suggests that there are many upcoming midcap companies that can offer great opportunities for the investing community to create alpha, and further states that many state PSUs, if better managed, could become multi-baggers. Key Points
Economic TimesShipping, allied industries battle choppy waters as margins sink
As things stand, freight rates in key transit routes have declined over the past 3-4 months to as much as just a quarter of what they averaged a couple of years ago due to lower consumption in western markets amid global economic headwinds. With that, containers have piled up at Indian ports, resulting in a reversal of the situation from just a year ago when shippers were running from pillar to post to get their hands on empty containers. Key Points
Economic TimesPromoter pledge in these 5 cos significantly down in FY23, stocks turn multibaggers
Several BSE500 companies, including Apollo Tyres, Jindal Stainless, NCC, Suzlon Energy, and CG Power and Industrial Solutions, saw their stocks turn multibaggers after a significant reduction in the pledge shares of promoters in the last four quarters. Lemon Tree Hotels also saw considerable fall in pledge shares. The efforts taken by corporates and promoters to deleverage balance sheets in recent years is one of the major factors that has put India in a better position compared to its emerging market peers. Indias major transformation includes Make in India, GST, digitalization, new bankruptcy law, and a sharp decline in corporate balance sheet leverage. Key Points
Economic Times
Bharti Airtel misses Q4 revenue estimates on soft subscriber growth
Bharti Airtel's consolidated revenue from operations rose to 360.09 billion rupees ($4.40 billion) for the quarter ended March 31, from 315 billion rupees a year ago, it said in an exchange filing. Key Points
India TodayIDFC First Bank Q4 net profit up 134% y-o-y to Rs 803 crore in Q4
As on March end, the bank’s gross non-performing asset ratio stood at 2.51%, lower than 3.70% a year ago. Key Points
FinancialexpressIndia’s steadying economy shows signs of weakening consumption
Indias economic growth unexpectedly slowed to 4.4% in the three months to December. Economic expansion may be under pressure as the “full-blown impact” of the Reserve Bank of Indias 250 basis point hike in borrowing cost since May gets transmitted to end-consumers, Crisil Ltd., the local unit of S&P Global Ratings, said in a report. Key Points
Economic TimesBank loans to NBFCs moderate in November
The Reserve Bank of India reported a 21.9 per cent YoY growth in credit to the services sector in November 2023, compared to 21.3% a year ago. This growth was despite a slowdown in lending to non-banking financial companies (NBFCs), which made up a significant portion of the services loan portfolio. The Reserve Bank increased the risk weights on bank lending to NBFCs and their unsecured lending. Overall, non-food bank credit rose 16.3% YoY in November 2023. Key Points
Economic TimesA massive genetic study tells us about Indians' ancestry; perplexing presence of Neanderthals in it
Indian genome closer to Iranian farmers & steppe herders than Africans. Most significant contact between ancestral Indians & Africans was 50,000 years ago, finds preprint UC Berkeley study. Key Points
ThePrint
‘The Gutless Foodie’ Natasha Diddee, Pune food blogger with no stomach, dies
Natasha Diddee, a Pune blogger known as the Gutless Foodie, passed away. Years ago, she had her entire stomach removed due to tumours. | Trending Key Points
Hindustan TimesDecember quarter CAD narrows to 1.2 percent of GDP
“The current account deficit narrowed in Q4 despite a wider merchandise trade deficit, cushioned by a record high services trade surplus and secondary income” Rahul Bajoria, MD & Head of EM Asia (ex-China) Economics, Barclays. “ Positive FDI and FPI flows kept the BOP in surplus. We expect current account financing needs to remain manageable this fiscal year and next.” Key Points
Economic TimesIndian airlines Oct-Dec overseas traffic up 22% on year
As per the data from the Indian civil aviation regulator Directorate General of Civil Aviation, Indian airlines also registered an increase in the cumulative market share at 44.6% in the period from 43.5% seen in the same quarter a year ago Key Points
mintBFSI stocks: They shed weight much before others do, time to be contrarian and buy?
The kind of correction the broader market is witnessing in the last few days, the financial services sector had seen that few months ago. Infact, if one looks at the overall picture this phase of correction was led by one private sector bank and the other parts of the BFSI came under pressure at the start of 2024. For two reasons, first is that RBI has been doing a policy tightening and regulatory cleanup excerise, so there were some margin hits coming in earnings. Second, they are heavily owned by foreign portfolio investors who have been sellers in the Indian markets. A large number of times they give an advance indication of what the broader market might look like in near term. Similarly, the other way round, these stocks on a relative basis have performed better than others in the last few days. The first streak of relative outperformance is good enough indication for them to be brought on watchlist. Key Points
Economic TimesGensol Engineering raises ₹900 crore equity from Elara and others
In January, the renewable energy and electric mobility company reported a consolidated net profit of ₹12.31 crore for the December quarter, compared to a net loss of ₹1.90 crore a year ago. Key Points
mint
Israeli Geologists discover Messinian-period underwater canyon near Cyprus
The 10-km wide tunnel is located 500 m below sea surface & was buried during the Messinian period, which occurred approximately 5.5 million years ago. Key Points
ThePrint11 years ago, D in my PAN turned 0. I'm still fighting lakhs in tax bill
Read about the author's decade-long battle with the income tax department due to a typo in their PAN card. Learn how they navigated the challenges and sought refunds for the tax deducted at source. Key Points
Times Of IndiaKotak Mahindra Bank Q3 Results: PAT rises 8% YoY to Rs 3,005 crore, but trails estimates
Kotak Mahindra Bank Q3 Results: The lender's Net interest income, the difference between interest earned and interest expended, rose nearly 16% YoY to Rs 6,553.52 crore. The moderate growth in the bottomline was partially due to a sharp jump in the provisions during the quarter under review. Key Points
Economic TimesHDFC Bank ADRs drop over 2% post Q3 results. Is the scorecard bad?
HDFC Bank reported a 34% year-on-year (YoY) growth in net profit for the December quarter to Rs 16,372.54 crore. The bottomline was higher than an ETNow poll of Rs 15,846 crore. Key Points
Economic TimesCovid-19 cases rise in India: Existing vaccines protect against JN.1 sub-variant? What expert says
New covid variant JN.1, a variant of interest, has been classified by the World Health Organization. Vaccines may not completely block JN.1 infections, but they can reduce the likelihood of severe illness and hospitalisation Key Points
mint
NASA shares 51-year-old photo of US flag on Moon with Earth in distance
The pic of the US flag on the Moon with Earth in the background was taken 51 years ago by Eugene A. Cernan or Harrison H. Schmitt during the Apollo Mission. | Trending Key Points
Hindustan Times