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News18
16 hours ago
- Business
- News18
ICICI Bank Q1 net profit jumps 15.9 pc to Rs 13,558 cr
Mumbai, Jul 19 (PTI) ICICI Bank on Saturday reported a 15.9 per cent jump in its consolidated net profit to Rs 13,558 crore in the June quarter this fiscal. The lender had reported a net profit of Rs 11,696 crore in the year-ago period. On a standalone basis, the country's second-largest private sector lender reported a net profit of Rs 12,768 crore for the reporting quarter, up 15.5 per cent from Rs 11,059 crore in the year-ago period. Its core net interest income increased 10.6 per cent to Rs 21,635 crore, while the other income, excluding treasury operations, recorded a 13.7 per cent surge to Rs 7,264 crore. The net interest margin narrowed to 4.34 per cent from 4.41 per cent a quarter ago, it said. The overall provisions, excluding the ones for taxes, came at Rs 1,815 crore compared to Rs 1.332 crore in the year-ago period, the bank said. The gross non-performing assets ratio improved to 1.67 per cent as of June 30 from 2.15 per cent a year ago. PTI AA BAL BAL Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
20 hours ago
- Business
- News18
HDFC Bank Q1 net profit slips 1.31 pc to Rs 16,258 cr
Mumbai, Jul 19 (PTI) HDFC Bank on Saturday posted a 1.31 per cent decline in its consolidated net profit to Rs 16,258 crore for the June 2025 quarter. The lender had reported a net profit of Rs 16,475 crore in the year-ago period. On a standalone basis, the country's largest private sector lender reported a net profit of Rs 18,155 crore for the reporting quarter, up from Rs 16,174 crore a year ago. Its total income jumped to Rs 99,200 crore in the June quarter from Rs 83,701 crore in the year-ago period. The total expenditure stood at Rs 63,467 crore against Rs 59,817 crore in the same period of the preceding fiscal, as per an exchange filing. The net interest margin narrowed to 3.35 per cent from 3.46 per cent in the first quarter of FY25, it said. The overall provisions jumped to Rs 14,442 crore from Rs 2,602 crore in the year-ago period, the bank said, adding that this includes a floating provision of Rs 9,000 crore. The gross non-performing assets ratio inched up to 1.4 per cent as of June 30 from 1.33 per cent three months ago. PTI AA BAL BAL Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Print
27-06-2025
- Business
- The Print
Forex reserves decline by USD 1 bn to USD 697.93 bn
For the week ended June 20, foreign currency assets, a major component of the reserves, dropped by USD 357 million to USD 589.06 billion, the data released on Friday showed. In the previous reporting week, the reserves had jumped by USD 2.29 billion to USD 698.95 billion. Forex reserves had touched an all-time high of USD 704.885 billion in September 2024. Mumbai, Jun 27 (PTI) India's forex reserves dropped by USD 1.01 billion to USD 697.93 billion for the week ended June 20, the Reserve Bank of India said on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves were down by USD 573 million to USD 85.74 billion during the week, the RBI said. The Special Drawing Rights (SDRs) declined by USD 85 million to USD 18.672 billion, the apex bank said. India's reserve position with the IMF also declined by USD 1 million to USD 4.45 billion in the reporting week, the apex bank data showed. PTI AA BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
27-06-2025
- Business
- The Print
Tata Power applies to expand electricity distribution in Maharashtra
It can be noted that through amendments made to the Electricity Act, private distribution companies are allowed to apply to serve various parts. The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik, they added. Mumbai, Jun 26 (PTI) Tata Power has applied to distribute electricity to various pockets of Maharashtra as part of its efforts to expand beyond the financial capital, officials said on Thursday. However, they were hesitant to apply due to the high investments required for setting up such infrastructure. In 2022, Tata Power's rival Adani Group, with which it competes in Mumbai suburban areas, applied for select areas and expressed intent to invest up to Rs 5,700 crore towards the initiative. In the application submitted before the Maharashtra Electricity Regulatory Commission (MERC), seeking the grant of a distribution license to serve key regions across the state, the Tata Group company has evinced interest in serving areas like Chhatrapati Sambhaji Nagar, Badnapur, Jalna Taluka, Waluj MIDC, Nashik, Sinnar, Igatpuri, and Trimbak Talukas. It is also keen to serve the Municipal Corporation of Greater Mumbai (MCGM), Thane Municipal Corporation (TMC), Navi Mumbai Municipal Corporation (NMMC), Panvel Municipal Corporation (PMC), and the entire corridor from PMC to Jawaharlal Nehru Port Authority (JNPA), the officials said. Tata Power is also keen on serving the Pune region, including Pune City, Haveli, Maval, Mulshi, and Khed Talukas, they added. A public notice inviting objections and suggestions from citizens has been published as per the mandatory procedure, they said, adding that this will be followed by a public hearing. As per people in the know, Torrent Power and Adani have also undertaken similar efforts and the MERC is expected to hold hearings for their applications on July 22. PTI AA BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
23-05-2025
- Business
- The Print
India's forex kitty drops USD 4.88 bn to USD 685.72 bn
For the week ended May 16, foreign currency assets, a major component of the reserves, increased by USD 279 million to USD 581.652 billion, the data released on Friday showed. The overall reserves jumped by USD 4.553 billion to USD 690.617 billion in the previous reporting week. The forex reserves touched an all-time high of USD 704.885 billion in September 2024. Mumbai, May 23 (PTI) India's forex reserves dropped USD 4.888 billion to USD 685.729 billion for the week ended May 16, the Reserve Bank of India said on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. After the sharp USD 4.52 billion jump in the previous reporting week, the gold reserves dropped by USD 5.121 billion to USD 81.217 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 43 million to USD 18.49 billion, the apex bank said. India's reserve position with the IMF was also down by USD 3 million at USD 4.371 billion in the reporting week, the apex bank data showed. PTI AA BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
