Market participants remain wary of high rates of inflation and are expecting further rate hikes by the US Federal Reserve, which will push up the cost of borrowing and dampen corporate investments.Despite the upbeat performance, analysts tracking the global markets remain cautious over stocks over the management commentary and brokerage review over the select stocks.
Home loans to individuals grew 15% year on year totalling Rs 2.09 lakh crores at the end of June.Impairment costs fell 63% to Rs 308 crore from Rs 830 crore a year ago boosting profits. Gross NPAs fell to 4.96% against 5.93 % as of June 30, 2021.NIM or the difference between the yield earned on loans and that paid for funds improved to 2.54% from 2.20% a year ago.
M&M logged tractor sales volumes of 1.19 lakh units in June quarter, up 62.6 per cent sequentially, ICICIdirect said, adding that automotive volumes were nearly flat QoQ at 1.53 lakh units. On a sequential basis, the brokerage sees net sales rising 14.9 per cent QoQ to Rs 19,677 crore with automotive average selling price (ASP) seen at at Rs 7.9 lakh per cent unit (up 2 per cent QoQ) and tractor ASPs seen at Rs 6 lakh per unit (up 1 per cent QoQ).
The net profit was however higher when compared to the fourth quarter of the last fiscal.“In the face of intense competition, it is creditable that we have not only improved upon the performance in the preceding quarter but also managed our cost position in a competent manner," managing director VP Nandakumar said.
The company's standalone net profit stood at Rs 58.73 crore in the year-ago period, according to a regulatory filing.Its total income rose to Rs 1,463.23 crore in the first quarter of the current fiscal, from Rs 951.65 crore earlier.Expenses were at Rs 1,366.89 crore as against Rs 873.04 crore a year ago.
Its revenue from operations increased 27.44 per cent to Rs 3,302 crore during the quarter under review against Rs 2,591 crore in the corresponding period of the previous fiscal.Dalmia Bharat's total expenses rose 37.7 per cent to Rs 3,072 crore in Q1 FY 2022-23 from Rs 2,231 crore a year ago.
The company's core interest income slipped to Rs 244 crore during the quarter against Rs 397 crore.There was a pre-provision operating profit of Rs 51 crore in Q1 FY23. It was Rs 226 crore in Q1 FY22.The micro lender suffered an impairment of Rs 352 crore on financial instruments and other provisions, which was higher than Rs 155 crore in the year-ago period.
“The Rupee’s losses Thursday were exclusive to the local market as the dollar was marginally lower to 106.16,” said a trader from a large bank.“The pressure came from the offshore derivatives market weighing on the rupee,” said the person.
We have registered TPV growth of 72% year-on-year across our fintech offerings in Q1 FY22-23. As per our internal data, the enormous rise in digital payment transactions was across all sectors.”The gross revenue was up by 93%, at Rs 418 crore, compared to Rs 216 crore last year. EBITDA stood at Rs 43 crore, a growth of 51% year-on-year.