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| As on Apr 29, 2024 12:00 AM |
Your results on : Hot Pursuit |
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| Total income increased 33.9% to Rs 280 crore in the quarter ended 31 March 2024 as compared with Rs 209 crore in the quarter ended 31 March 2023. Pre-provisioning operating profit (PPOP) stood at Rs 111 crore, up 69.1% YoY. Asset under management (AUM) jumped 38% YoY to Rs 6,822 crore in Q4 FY24 as compared with Rs 4,943 crore in Q4 FY23. Gross NPA was 2.43% as on 31 March 2024 as against 2.38% as on 31 December 2023 and 2.57% as on 31 March 2023. Net NPA stood at 1.36% as on 31 March 2024 as compared with 1.36% as on 31 December 2023 and 1.58% as on 31 March 2023. Collection efficiency for the quarter ended 31 March 2024 was 1.36% as against 97.8% in the quarter ended 31 March 2023. The company has made a total ECL provision of Rs 110 crore as on 31 March 2024 as compared with ECL provision of Rs 102 crore in the quarter ended 31 March 2023. On full year basis, the company?s net profit jumped 58.23% to Rs 237.02 crore in FY24 as compared with Rs 149.79 crore in FY23. Total income increased 37.75% to Rs 1,019.82 crore in FY24 as compared with Rs 740.36 crore in FY23. SBFC Finance specialises in secured MSME loans, loans against gold, affordable home loans and loan management. Since inception, SBFC has grown to 183 branches and more than 3,758 employees across 16 states and 2 union territories.
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Medicamen Biotech Ltd, Shivalik Rasayan Ltd, Orissa Bengal Carrier Ltd and Aarti Surfactants Ltd are among the other gainers in the BSE's 'B' group today, 29 April 2024. Shiva Mills Ltd spiked 20.00% to Rs 110.4 at 12:01 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 1.07 lakh shares were traded on the counter so far as against the average daily volumes of 15446 shares in the past one month. Medicamen Biotech Ltd soared 20.00% to Rs 589.55. The stock was the second biggest gainer in 'B' group. On the BSE, 53406 shares were traded on the counter so far as against the average daily volumes of 2535 shares in the past one month. Shivalik Rasayan Ltd surged 16.93% to Rs 672.9. The stock was the third biggest gainer in 'B' group. On the BSE, 37314 shares were traded on the counter so far as against the average daily volumes of 3162 shares in the past one month. Orissa Bengal Carrier Ltd gained 14.15% to Rs 59.14. The stock was the fourth biggest gainer in 'B' group. On the BSE, 80454 shares were traded on the counter so far as against the average daily volumes of 8792 shares in the past one month. Aarti Surfactants Ltd jumped 13.14% to Rs 743.4. The stock was the fifth biggest gainer in 'B' group. On the BSE, 74240 shares were traded on the counter so far as against the average daily volumes of 4619 shares in the past one month.
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| This is to inform that Department of Public Enterprises (DPE) vide its letter dated April 26, 2024 has granted the ?Navratna status? to Indian Renewable Energy Development Agency Limited (IREDA), said the company in an exchange filing with the bourses on Friday, 26 April 2024. Obtaining Navratna status in India bestows significant advantages on a Public Sector Undertaking (PSU). These include greater financial and operational autonomy, allowing for swifter decision-making and improved responsiveness to market shifts. The enhanced freedom also translates to increased investment opportunities, attracting capital for growth initiatives. Further, the Navratna designation serves as a mark of excellence, bolstering the PSU's market reputation and attracting skilled personnel. This combination of factors empowers Navratna PSUs to operate more efficiently, compete more effectively, and achieve sustainable growth. IREDA is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). As on March 2024, GoI held 75% stake in IREDA. IREDA?s net profit jumped 33% to Rs 337.38 crore in Q4 FY24 as compared with Rs 253.62 crore in Q4 FY23. Revenue from operations increased 33.6% to Rs 1,339.77 crore in Q4 FY24 as compared with Rs 1,002.67 crore posted in corresponding quarter last year. Profit before tax jumped 66.3% YoY to Rs 479.67 crore during the quarter.
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Supreme Industries Ltd, Aegis Logistics Ltd, Tejas Networks Ltd and Vaibhav Global Ltd are among the other gainers in the BSE's 'A' group today, 29 April 2024. Lloyds Engineering Works Ltd surged 9.40% to Rs 69.63 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 22.41 lakh shares were traded on the counter so far as against the average daily volumes of 19.2 lakh shares in the past one month. Supreme Industries Ltd spiked 8.52% to Rs 4777.3. The stock was the second biggest gainer in 'A' group. On the BSE, 49781 shares were traded on the counter so far as against the average daily volumes of 10786 shares in the past one month. Aegis Logistics Ltd soared 7.71% to Rs 685. The stock was the third biggest gainer in 'A' group. On the BSE, 3.49 lakh shares were traded on the counter so far as against the average daily volumes of 1.99 lakh shares in the past one month. Tejas Networks Ltd exploded 7.49% to Rs 1105. The stock was the fourth biggest gainer in 'A' group. On the BSE, 1.76 lakh shares were traded on the counter so far as against the average daily volumes of 1.11 lakh shares in the past one month. Vaibhav Global Ltd advanced 7.33% to Rs 429.55. The stock was the fifth biggest gainer in 'A' group. On the BSE, 1.4 lakh shares were traded on the counter so far as against the average daily volumes of 44486 shares in the past one month.
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The market regulatory had introduced the 'regulatory fee' on recognized stock exchanges vide the Securities and Exchange Board of India (Regulatory Fee on Stock Exchanges) Regulations, 2006. As per the regulations, the stock exchanges would have to pay a regulatory fee to SEBI within a period of thirty days of conclusion of the relevant financial year. The rate of regulatory fee was based on the annual turnover of a stock exchange. The term 'annual turnover shall mean the aggregate value of transactions, which took place on the stock exchange during the relevant financial year,? SEBI said. It further said that the annual turnover for option contracts is to be computed and was always deemed to have been computed on the basis of the notional value of the option contracts for the purpose of payment of regulatory fee to the Board. In the context of the regulator/ fees paid by BSE to SEBI for the past periods, the market regulator noted that the regulatory fee paid for the FY 2006-07 was for a quarter rather than for the full financial year. Since introduction of derivative contracts, BSE has been paying the regulatory fee on annual turnover to SEBI considering premium vaitte for option contracts, instead of the notional value. In view of the same, BSE has been advised to pay the regulatory fee based on annual turnover to SEBI considering ?notional value? in case of option contracts. BSE has been further advised to pay the differential regulatory fee for the past periods along with applicable interest, within a period of one month from the date of receipt of this letter. Offering an update with respect to the same, BSE said that it is currently evaluating the validity, or otherwise, of the claim as per SEBI communication. In case, if it is ascertained that the said amount is payable, then the total differential SEBI regulatory fees for the past periods i.e. from FY 2006-07 to FY 2022-23, would be approximately Rs 68.64 crore plus GST, which includes interest of Rs 30.34 crore. The due date for payment of SEBI regulatory fee for FY 2023-24 is 30 April 2024, amount payable as per premium (turnover) is approximately Rs 1.66 crore plus GST, which has been paid by the company. The differential SEBI regulatory fees for the year, if liable, could be around Rs 96.30 crore plus GST. BSE (formerly Bombay Stock Exchange) is Asia's first & the world's fastest Stock Exchange with a speed of 6 microseconds. It provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. The exchange platform?s consolidated net profit fell 10.22% to 108.19 crore in Q3 FY24 as against Rs 120.50 crore posted in Q2 FY24. However, revenue from operations increased 18.13% quarter on quarter (QoQ) to Rs 371.53 crore in the quarter ended 31 December 2023.
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Supreme Industries Ltd, Sun Pharma Advanced Research Company Ltd, JBM Auto Ltd, Lemon Tree Hotels Ltd are among the other stocks to see a surge in volumes on BSE today, 29 April 2024. SBI Life Insurance Company Ltd recorded volume of 4.04 lakh shares by 10:46 IST on BSE, a 32.25 times surge over two-week average daily volume of 12533 shares. The stock gained 1.36% to Rs.1,434.50. Volumes stood at 34231 shares in the last session. Supreme Industries Ltd saw volume of 36485 shares by 10:46 IST on BSE, a 6.04 fold spurt over two-week average daily volume of 6044 shares. The stock increased 7.48% to Rs.4,731.75. Volumes stood at 17868 shares in the last session. Sun Pharma Advanced Research Company Ltd registered volume of 9.3 lakh shares by 10:46 IST on BSE, a 5.77 fold spurt over two-week average daily volume of 1.61 lakh shares. The stock slipped 5.00% to Rs.245.35. Volumes stood at 40211 shares in the last session. JBM Auto Ltd registered volume of 38343 shares by 10:46 IST on BSE, a 3.24 fold spurt over two-week average daily volume of 11831 shares. The stock rose 5.47% to Rs.1,879.45. Volumes stood at 5761 shares in the last session. Lemon Tree Hotels Ltd clocked volume of 7.1 lakh shares by 10:46 IST on BSE, a 3.14 times surge over two-week average daily volume of 2.26 lakh shares. The stock gained 2.63% to Rs.148.30. Volumes stood at 5.89 lakh shares in the last session.
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Total income jumped 26.07% to Rs 9,861.21 crore in Q4 FY24 as against to Rs 7,821.83 crore posted in the corresponding quarter previous year. Operating profit before provisions and contingencies grew 6.75% year on year (YoY) to Rs 1,663.91 crore in the quarter ended 31 March 2024. Net interest income stood at Rs 4,469 crore in Q4 FY24, up 24% over Rs 3,597 crore recorded in the same quarter last year. Provisions grew by 50% to Rs 722 crore in Q4 FY24 from Rs 482 crore posted in Q4 FY23. The capital adequacy ratio (CRAR) of the bank, stood at 16.11% with CET-1 ratio at 13.36% as on 31 March 2024 . On asset quality front, the gross non-performing assets (GNPA) stood at 1.88% in Q4 FY24 as against 2.51% in Q4 FY23. The net non-performing assets (NNPA) was at 0.60% in Q4 FY24 as compared to 0.86% in Q4 FY23. Provision coverage ratio (including technical write-off) improved to 86.58% as of 31 March 2024 as against 80.29% as of 31 March 2023. Loans and advances (including credit substitutes) increased by 25.1% YOY to Rs 2,00,965 crores as of 31 March 2024 from Rs 1,60,599 crore as of 31 March 2023. CASA deposit grew 31.7% at Rs 94,768 crore in Q4 FY24 from Rs 71,983 crore reported in Q4 FY23. CASA ratio reduced to 47.2% in Q4 FY24 as against 49.8% posted in Q4 FY23. On full year basis, the company's net profit rose 21.31% to Rs 2,956.51 crore on 33.57% jump in total income to Rs 36,324.50 crore in FY24 over FY23. For FY24, return on assets (ROA) stood at 1.10% and return on equity (ROE) was at 10.30%. V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, ?It is my delight to share that we have crossed a landmark of Rs 4,00,000 crore mark of total deposits and advances including credit substitutes at the bank. What is more important for us is that the asset quality continues to be maintained at all-time best of GNPA and NNPA of 1.88% and 0.60% respectively, the lowest NPA in our history. All legacy infrastructure loans are fully factored into the above. Excluding infrastructure loans, the GNPA and NNPA is only 1.55% and 0.42% respectively. All asset quality parameters are stable. Our deposit raising franchise is our biggest strength. Our CASA ratio continues to be among the best in the industry at around 47%. Our Incremental Credit to Deposit ratio for FY 24 was low at 76%. The CD ratio has come down to 98.4%, i.e. below 100% for the first time and we expect to further reduce this into FY 25. The PAT grew 21% YoY to Rs. 2957 cr in FY 24. More important, the core PPOP (excluding trading gain) grew by 31% YOY for the year to cross Rs. 6,000 crores for the first time in our history. Such scale and strong profitability give us the strength to participate in the wonderful opportunities in Indian financial services. We look forward to the future with confidence and optimism.? IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, Internet and mobile. The bank provides customized financial solutions to corporate, individuals, small and micro enterprises (SMEs), entrepreneurs, financial institutions and the government.
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| Net interest income (NII) increased by 8.1% year on year (YoY) to Rs 19,093 crore in during the quarter. Net interest margin (NIM) was 4.40% in Q4 FY24 compared to 4.43% in Q4 FY23. The bank's provisions (excluding provision for tax) declined 55.65% YoY to Rs 718 crore during the period under review. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 27,961.68 crore as on 31 March 2024 as against Rs 31,183.70 crore as on 31 March 2023. The gross NPA ratio reduced to 2.16% as on 31 March 2024 as compared to 2.81% as on 31 March 2023. The net NPA ratio declined to 0.42% as on 31 March 2024 as against 0.48% as on 31 March 2023. The provision coverage ratio on non-performing assets was 80.3% at 31 March 2024. The net domestic advances grew by 16.8% YoY and total advances increased by 16.2% YoY to Rs 11,84,406 crore as at 31 March 2024. The retail loan portfolio grew by 19.4% YoY, and comprised 54.9% of the total loan portfolio at 31 March 2024. Including non-fund outstanding, the retail portfolio was 46.8% of the total portfolio at 31 March 2024. Total period-end deposits increased by 19.6% YoY to Rs 14,12,825 crore at 31 March 2024. Period-end term deposits jumped 27.7% YoY to Rs 8,16,953 crore at 31 March 2024. The bank's total capital adequacy ratio at 31 March 2024 was 16.33% an d CET-1 ratio was 15.60% compared to the minimum regulatory requirements of 11.70% and 8.20%, respectively. On consolidated basis, the bank's net profit increased 18.46% to Rs 11,671.52 crore on 24.59% rise in total income to Rs 67,181.70 crore in Q4 FY24 over Q4 FY23. For FY24, the private lender?s standalone net profit climbed 28.19% to Rs 40,888.27 crore on 28.5% growth in total income to Rs 165,848.71 in FY24 over FY23. Meanwhile, the board recommended a dividend of Rs 10 per equity share, subject to requisite approvals. Further, the bank?s board approved fund raising by way of issuances of debt securities including by way of non-convertible debentures in domestic markets upto an overall limit of Rs 25,000 crore by way of private placement and issuances of bonds/notes/offshore certificate of deposits in overseas markets upto $1.50 billion for a period of one year, from the date of passing of resolution by the board. The board of directors also authorised buyback of debt securities within the limits that it is authorised to approve under applicable law. ICICI Bank is a leading private sector bank in India. The bank had a network of 6,523 branches, 17,190 ATMs and cash recycling machines at 31 March 2024. The counter hit an all time high of Rs 1,135.80 on the BSE.
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| Total income grew by 24.87% year on year to Rs 9,015.77 crore in the quarter ended 31 March 2024. Profit before tax was at Rs 431.61 crore in the March quarter, up 59.07% from Rs 271.34 crore recorded in the corresponding quarter last year. Net interest income (NII) stood at Rs 2,153 crore, up 2.3% YoY as against Rs 2,105 crore. Net interest margin (NIM) declined to 2.4% in Q4 FY24 as compared to 2.8% registered in Q4 FY23. During the quarter, operating profit was at Rs 902 crore, up 1.52% from Rs 889 crore posted in the same period a year ago. Provisions (other than tax) and contingencies slipped 23.75% YoY to Rs 470.86 crore in Q4 FY24. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 3,982.56 crore as on 31 March 2024 as against Rs 4,394.57 crore as on 31 March 2023. The gross NPA ratio reduced to 1.7% as on 31 March 2024 as compared to 2.2% as on 31 March 2023. The net NPA ratio declined to 0.6% as on 31 March 2024 as against 0.8% as on 31 March 2023. Prashant Kumar, managing director & CEO, said, ?This quarter demonstrates a significant step in the RoA expansion journey, with Q4 FY24 RoA expanding to 0.5%. This is despite the one-off gains from tax refunds, SR recoveries and ARC Sale, being prudently utilized for strengthening the asset quality metrics- for instance, the NNPA + Net carrying value of SRs have more than halved over the course of the year to 1.1% from 2.4% in FY23. Moreover, we continue to witness strong momentum in our liability franchise with growth in Deposits expanding to over 20% YoY for first time in last 8 quarters. Importantly, despite challenging environment during the course of the year, our CASA ratio has expanded 10 bps YoY to 30.9%. This quarter, the bank continued to expand on its digital footprint with significant partnerships reflecting the inherent strength in the capabilities and technology infrastructure of the bank. As the bank embarks on the fifth year of this new journey, we remain focused on diligently executing the RoA expansion roadmap.? Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
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Revenue from operations rose marginally to Rs 28,499 crore in the March quarter from Rs 28,446 crore recorded in the preceding quarter of FY24. On a year on year (YoY) basis, HCL Technologies' net profit rose 0.08% and revenue grew 7.11% in Q4 FY24. EBITDA in Q4 FY24 was Rs 6,111 crore, down 9.57% QoQ and up 4.23% YoY. EBITDA margin was 21.4% for the quarter ended 31 March 2024 as against 23.8% in Q3 FY24 and 21.9% in Q4 FY23. In dollar terms, the IT firm's revenue stood at $3,429.9 million in Q4 FY24, up 0.44% QoQ and 6.04% YoY. In constant currency (cc) terms, revenue in the March quarter was up 0.3% QoQ and 6% YoY. During the quarter, the company bagged 21 new large deals ? 13 in the Services segment & 8 in the Software segment. Total contract value (TCV) of new deal wins was $2,290 million. Total people count stood at 227,481 as on 31 March 2024, up 1.21% QoQ and up 0.68% YoY basis. Attrition (on the last 12-month basis) reduced to 12.4% in Q4 FY24 from 12.8% in Q3 FY24 and 19.5% in Q4 FY23. On full year basis, the company?s consolidate net profit grew 5.73% to Rs 15,702 crore on 8.34% rise in revenue to Rs 109913 crore in FY24 over FY23. In terms of FY25 guidance, the company?s CC revenue growth expected to be between 3%-5% YoY. Services CC revenue growth expected to be between 3%-5% YoY. EBIT margin expected to be between 18%-19%. Meanwhile, the company?s board has declared an interim dividend of Rs 18 per equity share for the financial year 2024-25. The record date is fixed on 7 May 2024 and the dividend will be paid on 15 May 2024. C Vijayakumar CEO & managing director of HCL Technologies, said, ?HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF coming at $2,711 million, up 21.6% YoY and FCF at $2,584 million, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI led propositions, Global delivery model and ideal mix of technology services and products.? Prateek Aggarwal chief financial officer at HCLTech, stated, ?HCLTech?s FY24 performance underlines the resilience of our business model with revenue at Rs 109,913 crore, growing 8.3%. We delivered this industry leading growth with EBIT at 20,027 crore, up 8.4%. Net income (NI) for the year came in at Rs 15,702 crore, up 5.7%, translating to an EPS of Rs 57.86. Our razor-sharp focus on cash generation resulted in OCF/NI coming at 143% and FCF/NI at 136%. We continue to expand ROIC, with the Company?s ROIC up 341 bps YoY at 33.8% and Services? ROIC up 430 bps YoY at 41.6%.? HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).
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| Revenue from operations increased 9.78% to Rs 1,514.83 crore in March 2024 quarter from 1379.88 crore posted in corresponding quarter previous year. The firm?s profit before tax and exceptional item stood at Rs 850.58 crore in fourth quarter of FY24 as against loss before tax and exceptional item of Rs 19.36 crore reported in Q4 FY23. Total expenses slipped 27.88% YoY to Rs 1,013.05 crore for the quarter. Cost of raw material consumed stood at Rs 689.44 crore (down 30.96% YoY) while employee expense stood at Rs 35.57 crore (up 17.01% YoY). On a full year basis, the power generation company?s net profit zoomed to Rs 1,021.95 crore in FY24 over FY23. Revenue from operations rose 16.87% YoY to Rs 6,762.78 crore in the quarter ended 31 March 2024. Jaiprakash Power Ventures is engaged in the business of generation of Thermal and Hydro Power, cement grinding and Captive Coal Mining.
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Among the components of the S&P BSE Financial Services index, Indian Renewable Energy Development Agency Ltd (up 8.47%), Dolat Algotech Ltd (up 6.17%),Yes Bank Ltd (up 5.39%),New India Assurance Company Ltd (up 3.89%),SBFC Finance Ltd (up 3.75%), were the top gainers. Among the other gainers were General Insurance Corporation of India (up 3.55%), VLS Finance Ltd (up 3.32%), AU Small Finance Bank Ltd (up 3.22%), India Shelter Finance Corporation Ltd (up 2.99%), and Nalwa Sons Investments Ltd (up 2.94%). On the other hand, IDFC Ltd (down 6.25%), Multi Commodity Exchange of India Ltd (down 5.87%), and IDFC First Bank Ltd (down 5.35%) turned lower. At 09:42 IST, the S&P BSE Sensex was up 400.03 or 0.54% at 74130.19. The Nifty 50 index was up 81.05 points or 0.36% at 22501. The S&P BSE Small-Cap index was up 129.62 points or 0.27% at 47368.91. The S&P BSE 150 Midcap Index index was up 50.9 points or 0.36% at 14134.32. On BSE,2181 shares were trading in green, 910 were trading in red and 133 were unchanged.
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Among the components of the S&P BSE Energy index, Aegis Logistics Ltd (up 5.51%), Hindustan Oil Exploration Company Ltd (up 4.62%),Gujarat State Petronet Ltd (up 1.46%),Hindustan Petroleum Corporation Ltd (up 1.02%),Reliance Industries Ltd (up 0.86%), were the top gainers. Among the other gainers were Gandhar Oil Refinery (India) Ltd (up 0.84%), Indian Oil Corporation Ltd (up 0.76%), Sandur Manganese & Iron Ores Ltd (up 0.55%), GAIL (India) Ltd (up 0.5%), and Castrol India Ltd (up 0.33%). On the other hand, Mahanagar Gas Ltd (down 1.76%), Gulf Oil Lubricants India Ltd (down 1.13%), and Ganesh Benzoplast Ltd (down 1.1%) turned lower. At 09:42 IST, the S&P BSE Sensex was up 400.03 or 0.54% at 74130.19. The Nifty 50 index was up 81.05 points or 0.36% at 22501. The S&P BSE Small-Cap index was up 129.62 points or 0.27% at 47368.91. The S&P BSE 150 Midcap Index index was up 50.9 points or 0.36% at 14134.32. On BSE,2181 shares were trading in green, 910 were trading in red and 133 were unchanged.
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Among the components of the S&P BSE BANKEX index, AU Small Finance Bank Ltd (up 3.22%), ICICI Bank Ltd (up 1.88%), IndusInd Bank Ltd (up 1.82%), Kotak Mahindra Bank Ltd (up 0.66%), State Bank of India (up 0.37%), and Axis Bank Ltd (up 0.36%), were the top gainers. On the other hand, IDFC First Bank Ltd (down 5.35%), Bank of Baroda (down 0.3%), and Federal Bank Ltd (down 0.22%) moved lower. At 09:42 IST, the S&P BSE Sensex was up 400.03 or 0.54% at 74130.19. The Nifty 50 index was up 81.05 points or 0.36% at 22501. The S&P BSE Small-Cap index was up 129.62 points or 0.27% at 47368.91. The S&P BSE 150 Midcap Index index was up 50.9 points or 0.36% at 14134.32. On BSE,2181 shares were trading in green, 910 were trading in red and 133 were unchanged.
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The company stated that although both the Wire & Strand and LRPC segments witnessed declines, the consistent performance from core Wire Rope segment supported overall revenues. EBITDA declined by 2.6% to Rs 161 crore in Q4 FY24 from Rs 165.3 crore in Q4 FY23. EBITDA margin for Q4 FY24 was 19.4% as against 19.3% in Q4 FY23. The company?s joint ventures recorded a loss of Rs 4.5 crore in the fourth quarter as against a loss of Rs 2.1 crore in Q4 FY23. Profit before tax in Q4 FY24 stood at Rs 136.4 crore, down by 4.1% from Rs 142.3 crore in Q4 FY23. For FY24, Usha Martin the company recorded net profit and revenue of Rs 424.1 crore (up 21% YoY) and Rs 3,225.2 crore (down 1.3% YoY), respectively. Tapas Gangopadhyay, non-executive director, said: ?We have concluded the financial year 2024 on a positive note with our robust operating cash flows reflecting strong performance. Despite facing macro-economic challenges, the company managed to generate an 18.6% EBITDA margin during the year. Notably, our core wire ropes division continued to perform well and contributed 71% to our overall consolidated revenues. The wave-1 capex program at our Ranchi facility is progressing well and we anticipate commercial operations to commence from Q1 FY25 onwards. These new capacities are mainly focused on enhancing the Company's value-added segment. We expect the facility to be ramped up over the next 9-12 months and to contribute meaningfully to our performance over the next two years. FY24 also saw notable advancements in our strategic initiatives, including enhancements in value-added offerings, deepening engagement with OEMs and expansion of our international presence. Usha Martin is a specialty steel wire rope solutions provider. The company is also engaged in the manufacturing of high-quality wires, low relaxation prestressed concrete steel strand (LRPC), bespoke end-fitments, accessories and related services.
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Jindal Stainless Ltd rose 1.3% today to trade at Rs 710.1. The S&P BSE Metal index is up 1.08% to quote at 31732.6. The index is up 12.54 % over last one month. Among the other constituents of the index, Vedanta Ltd increased 1.27% and Tata Steel Ltd added 1.12% on the day. The S&P BSE Metal index went up 57.6 % over last one year compared to the 21.06% surge in benchmark SENSEX. Jindal Stainless Ltd has added 2.25% over last one month compared to 12.54% gain in S&P BSE Metal index and 0.45% rise in the SENSEX. On the BSE, 1109 shares were traded in the counter so far compared with average daily volumes of 64347 shares in the past one month. The stock hit a record high of Rs 747.9 on 24 Apr 2024. The stock hit a 52-week low of Rs 270.55 on 15 May 2023.
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| The said project includes construction of Kottavalasa-Koraput doubling project from Km. 45.483 to Km. 72.550 from Shivalingapuram Station to Borraguhalu Station in connection with Kottavalasa Koraput, Adhnra Padesh Doubling Project of Waltair Division, East Coast Railway on EPC mode. The said domestic order is worth Rs 1198.09 crore. It will be completed within 1260 days. IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works. The company's consolidated net profit increased 28.76% to Rs 244.64 crore on 22.91% rise in revenue from operations to Rs 2,884.22 crore in Q3 FY24 over Q3 FY23. The scrip jumped 2.96% to ends at Rs 250.80 on Friday, 26 April 2024.
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| Net interest income (NII) increased by 8.1% year on year (YoY) to Rs 19,093 crore in during the quarter. Net interest margin (NIM) was 4.40% in Q4 FY24 compared to 4.43% in Q4 FY23. The bank's provisions (excluding provision for tax) declined 55.65% YoY to Rs 718 crore during the period under review. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 27,961.68 crore as on 31 March 2024 as against Rs 31,183.70 crore as on 31 March 2023. The gross NPA ratio reduced to 2.16% as on 31 March 2024 as compared to 2.81% as on 31 March 2023. The net NPA ratio declined to 0.42% as on 31 March 2024 as against 0.48% as on 31 March 2023. The provision coverage ratio on non-performing assets was 80.3% at 31 March 2024. The net domestic advances grew by 16.8% YoY and total advances increased by 16.2% YoY to Rs 11,84,406 crore as at 31 March 2024. The retail loan portfolio grew by 19.4% YoY, and comprised 54.9% of the total loan portfolio at 31 March 2024. Including non-fund outstanding, the retail portfolio was 46.8% of the total portfolio at 31 March 2024. Total period-end deposits increased by 19.6% YoY to Rs 14,12,825 crore at 31 March 2024. Period-end term deposits jumped 27.7% YoY to Rs 8,16,953 crore at 31 March 2024. The bank's total capital adequacy ratio at 31 March 2024 was 16.33% an d CET-1 ratio was 15.60% compared to the minimum regulatory requirements of 11.70% and 8.20%, respectively. On consolidated basis, the bank's net profit increased 18.46% to Rs 11,671.52 crore on 24.59% rise in total income to Rs 67,181.70 crore in Q4 FY24 over Q4 FY23. For FY24, the private lender?s standalone net profit climbed 28.19% to Rs 40,888.27 crore on 28.5% growth in total income to Rs 165,848.71 in FY24 over FY23. Meanwhile, the board recommended a dividend of Rs 10 per equity share, subject to requisite approvals. Further, the bank?s board approved fund raising by way of issuances of debt securities including by way of non-convertible debentures in domestic markets upto an overall limit of Rs 25,000 crore by way of private placement and issuances of bonds/notes/offshore certificate of deposits in overseas markets upto $1.50 billion for a period of one year, from the date of passing of resolution by the board. The board of directors also authorised buyback of debt securities within the limits that it is authorised to approve under applicable law. ICICI Bank is a leading private sector bank in India. The bank had a network of 6,523 branches, 17,190 ATMs and cash recycling machines at 31 March 2024. The scrip closed 0.53% lower to end at Rs 1,107.15 on Friday, 26 April 2024.
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Profit before tax in Q4 FY24 stood at Rs 473.24 crore, up 31.79% from Rs 359.08 crore reported in Q4 FY23. Net interest income grew 18% year on year to Rs 1,600 crore in the quarter ended 31 March 2024. Net interest margin (NIM) declined to 5.45% in Q4 FY24 as compared to 5.62% reported in the same quarter a year ago. Operating profit in Q4 FY24 was at Rs 887 crore, up 49% from Rs 594 crore recorded in Q4 FY23. Provisions (other than tax) and contingencies surged 76.31% YoY to Rs 413.79 crore during the quarter. On the asset quality front, gross non-performing assets (NPAs) stood at Rs 2,270.97 crore as on 31 March 2024 as against Rs 2,419.86 crore as on 31 March 2023. The GNPA ratio improved to 2.65% as on 31 March 2024 as against 3.37% as on 31 March 2023. The net NPA ratio stood at 0.74% as on 31 March 2024 as compared to 1.10% as on 31 March 2023. Provision coverage ratio including technical write offs was at 89.8%as on 31 March 2024 as against 85% as on 31 March 2023, improved 480 bps in a year. Provision coverage ratio stood at 72.7% as on 31 March 2024. Net advances as on 31 March 2024 was at Rs 83,987 crore, registering a growth of 20%. Deposits grew by 22% YoY to Rs 1,03,494 crore as on 31 March 2024. CASA deposits stood at Rs 36,448 crore as on 31 March 2024, up 15%YoY. CASA ratio reduced to 35.2% as on 31 March 2024 as compared to 37.4% as on 31 March 2023. Capital adequacy was 16.18% and common equity tier 1 ratio was 14.38% as on 31 March 2024. Average liquidity coverage ratio came in at 140%. As of 31 March 2024, the bank has 545 bank branches and 1,272 business correspondent branches, of which 297 are banking outlets. R Subramaniakumar, MD&CEO, RBL Bank said ?Our advances and deposits have shown substantial growth, with a notable improvement in operating leverage. We're witnessing the fruition of our strategic initiatives, as momentum builds and our efforts in various areas yield promising results. Meanwhile, the bank?s board recommended dividend of Rs 1.50 per equity share for FY24, subject to the approval of the shareholders. RBL Bank is one of India's leading private sector banks with an expanding presence across the country. The bank offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations. Shares of RBL Bank rose 1.07% to close at Rs 265.55 on Friday, 26 April 2024.
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Total income grew by 24.87% year on year to Rs 9,015.77 crore in the quarter ended 31 March 2024. Profit before tax was at Rs 431.61 crore in the March quarter, up 59.07% from Rs 271.34 crore recorded in the corresponding quarter last year. Net interest income (NII) stood at Rs 2,153 crore, up 2.3% YoY as against Rs 2,105 crore. Net interest margin (NIM) declined to 2.4% in Q4 FY24 as compared to 2.8% registered in Q4 FY23. During the quarter, operating profit was at Rs 902 crore, up 1.52% from Rs 889 crore posted in the same period a year ago. Provisions (other than tax) and contingencies slipped 23.75% YoY to Rs 470.86 crore in Q4 FY24. On asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 3,982.56 crore as on 31 March 2024 as against Rs 4,394.57 crore as on 31 March 2023. The gross NPA ratio reduced to 1.7% as on 31 March 2024 as compared to 2.2% as on 31 March 2023. The net NPA ratio declined to 0.6% as on 31 March 2024 as against 0.8% as on 31 March 2023. Prashant Kumar, managing director & CEO, said, ?This quarter demonstrates a significant step in the RoA expansion journey, with Q4 FY24 RoA expanding to 0.5%. This is despite the one-off gains from tax refunds, SR recoveries and ARC Sale, being prudently utilized for strengthening the asset quality metrics- for instance, the NNPA + Net carrying value of SRs have more than halved over the course of the year to 1.1% from 2.4% in FY23. Moreover, we continue to witness strong momentum in our liability franchise with growth in Deposits expanding to over 20% YoY for first time in last 8 quarters. Importantly, despite challenging environment during the course of the year, our CASA ratio has expanded 10 bps YoY to 30.9%. This quarter, the bank continued to expand on its digital footprint with significant partnerships reflecting the inherent strength in the capabilities and technology infrastructure of the bank. As the bank embarks on the fifth year of this new journey, we remain focused on diligently executing the RoA expansion roadmap.? Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients. The scrip ended 0.73% higher at Rs 26.15 on Friday, 26 April 2024.
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