Asset quality stress in the microfinance sector has forced CreditAccess Grameen to report a 46.4% year-on-year dip in net profit for the September quarter and to revise the annual growth outlook downwards by more than a half.
Posts in category Economic Times
Angel One pays Rs 5.74 crore to settle case with Sebi (25-10-2024)
Brokerage firm Angel One on Friday settled a case related to an alleged violation of regulatory norms with the capital markets regulator Sebi after paying Rs 5.74 crore towards settlement charges. The settlement order came after the applicant (Angel One Ltd) proposed to settle the instant proceedings initiated against them, “without admitting or denying the findings of facts and conclusions of law”.
Bandhan Bank, National Aluminium among 5 stocks with long unwinding (25-10-2024)
Long unwinding involves selling stocks or positions held for a long time, either to secure profits or to exit in anticipation of a potential market downturn.
HUL, Piramal Enterprises among 5 stocks with short covering (25-10-2024)
This often leads to a reduction in open interest, which can push the stock price upward.
DLF Q2 Results: Cons PAT jumps 122% YoY to Rs 1,381 crore, revenue surges by 46% (25-10-2024)
DLF reported a 122% YoY jump in net profit to Rs 1,381 crore in Q2FY25. Revenue from operations stood at Rs 1975 crore, up 46% YoY. On a sequential basis, net profit was up by 114% and revenue grew by 45%.
Inox Wind Q2 Results: Company reports Rs 90 crore profit, revenue up 93% (25-10-2024)
Inox Wind Limited (IWL) has reported a profit of Rs 90 crore in the July-September quarter compared to a loss of Rs 27 crore in the year-earlier period.
HPCL Q2 Results: Profit drops 88% YoY to Rs 631 crore (25-10-2024)
The average gross refining margin (GRM) for the second quarter was $3.12 per barrel, significantly down from $13.33 per barrel in the same period last year. The company attributed this decline in GRMs to the broader trend in international benchmark product cracks, reflecting the weaker refining margins seen globally.
US stocks open higher as yields ease, investors eye earnings (25-10-2024)
Wall Street’s main indexes opened higher on Friday, as Treasury yields eased and investors looked ahead to quarterly results from some of the biggest companies.
Poonawalla Fincorp Q2 Results: NBFC slips into red with loss of Rs 471 crore as personal loan provision multiplies (25-10-2024)
The company posted a loss of Rs 471 crore in the September 2024 quarter, a sharp reversal from a profit of Rs 860 crore a year earlier, driven by a 32-fold increase in provisions to Rs 910 crore from Rs 28 crore. Provisions for the STPL portfolio amounted to Rs 666 crore. The company recalibrated its credit parameters, raising the provision coverage ratio to 84.47% from 52.53% in June 2024.
BPCL Q2 Results: Profit slumps 72% on weak refining margins (25-10-2024)
Bharat Petroleum Corp (BPCL) has reported a 72% year-on-year decline in profit to Rs 2,397 crore for the July-September quarter on weak refining margins.