Diversified conglomerate ITC Ltd reported net profit of Rs 4,993 crore in the quarter ended September 2024. This is a jump of 2% from Rs 4898 crore reported in the previous year quarter.
Posts in category Economic Times
Japanese shares drop after US stocks notch a gain (25-10-2024)
Treasuries were stable after advancing Thursday. An index of the dollar was steady after tracking US yields lower Thursday. Australian and New Zealand bond yields fell Friday. The yen was stable in early trading after a Thursday rally.
RBI’s playing aggressively in currency market in FY25 (25-10-2024)
Latest data published by the RBI showed that in April and May, the central bank purchased dollars worth $8 billion and $23.6 billion, respectively, in the currency market, while making sales worth $11.7 billion and $19.4 billion.
Softer yields, cash reserves help RBI mop up bonds in Oct buyback (25-10-2024)
Out of the ₹50,000 crore notified amount in the month of October, ₹49,387.7 crore was accepted. By contrast, only ₹30,247.9 crore was accepted out of the total notified amount of ₹230,000 crore in May-June of this year.
Kirloskar deed disclosure case referred back to Sebi (25-10-2024)
SAT earlier this week has disposed of appeals filed by Kirloskar Oil Engines, Kirloskar Ferrous Industries, Kirloskar Pneumatic, Kirloskar Industries, and GG Dandekar Properties, against Sebi’s October communications addressed to them to disclose the DFS within seven days from the receipt of those regulatory directives.
IndusInd provides more for loan losses, Q2 net profit falls 39% (25-10-2024)
The lender posted a 5% growth in its net interest income to ₹5,347 crore. Meanwhile, the net interest margin for the quarter under review stood at 4.08%, down by 21 bps from 4.29% reported in the quarter last year.
HUL worries trigger selloff in FMCG companies (25-10-2024)
The Nifty FMCG Index plunged nearly 3%, its steepest single-day drop in 28 months after HUL’s second-quarter results missed expectations, disappointing investors. Analysts anticipate continued margin pressure for consumer companies in the near term due to rising raw material costs and weak urban demand.
Blow for cash-strapped telco: PFC-REC cuts Vodafone Idea’s borrowing call, wants extra cover (25-10-2024)
Both infra-focused government lenders, which specialise in power-related projects, have told the company that for any loan proposal to be considered, Vodafone Idea (Vi) will have to furnish an extra cover through corporate guarantees to shield these proposed commitments from any future default, top financial industry sources involved in the discussions told ET.
Costs a drag on ITC’s Q2, D-Street show may stay muted (24-10-2024)
Raw material cost inflation was the single biggest factor that hurt the margins. The raw material cost surged 29% year-on-year led by the rise in prices of leaf tobacco and wood. The raw material cost as a proportion of sales rose from 40.2% in the same quarter last year to 44.6% this year.
Harley-Davidson lowers full-year revenue forecast on weak demand, shares down 3% (24-10-2024)
Harley-Davidson lowered its annual revenue forecast due to persistent inflation and high borrowing costs affecting North American motorcycle demand. With retail sales dipping 10% and a shift in focus to Touring bikes, the company expects full-year global shipments to be down 16% to 17% and annual retail sales to drop 6% to 8%.