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Q3 Results
Income during the third quarter increased to Rs 5,682.37 crore, from Rs 3,592.04 crore in the year-ago period
Interest expense rises at fastest clip in 17 quarters in Q3
The company, which follows July-June financial year, had posted a net profit of Rs 98.33 crore in the corresponding period last year
The management believes that by the end of this year in comparison to the last year, company would be doubling its profitability.
Companies post strong growth in Q3; competition heats up as ABFRL, TCNS Clothing enter space
The weakening in the asset quality was partly due to the bank's customer profile, mainly comprising small-ticket borrowers in the self-employed segment, that was more severely impacted by the pandemic
Realty firm Puravankara Ltd's sales bookings rose 17 per cent to Rs 666 crore in the third quarter of this fiscal year on the back of higher volumes as well as per square feet price realisation.
Increase in production, higher prices, better margins and high dividend yield are key positives
Weak show in India business dents Q3, margin pressures may remain
In Q3FY22, the company's consolidated profit after tax declined 65 per cent year-on-year to Rs 145 crore, due to lower operational income.
Consumer durables market is however expected to return to normal this summer as demand increases post omicron chill.
HDFC (up 1.7 per cent), Reliance Industries (1.2 per cent), and Power Grid (0.56 per cent) were the top large-cap gainers today
Since February 9, 2022, in the past seven trading sessions, the stock has dipped 27 per cent after the company reported a disappointing set of numbers.
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Dec qtr results were disappointing as costs escalated and volumes came under pressure
This was way higher than the net outflows of USD 95 million registered during the quarter ended September 2021
The strong orderbook for exports, API coated pipes and spiral pipes are expected to drive the growth in the upcoming quarters.
The company said international and industrial orders are expected to keep the momentum intact, going forward.