Axis Bank Q1 net jumps 94% to ₹2,160 crore
The Hindu
Axis Bank on Monday saw its net profit almost double to ₹2,160.15 crore in the June quarter on the back of healthy loan-book growth and a fall in bad loan provisions. The lender had posted net profit
Axis Bank on Monday saw its net profit almost double to ₹2,160.15 crore in the June quarter on the back of healthy loan-book growth and a fall in bad loan provisions. The lender had posted net profit of ₹1,112.17 crore a year earlier. Total income rose to ₹19,591.63 crore from ₹19,032.15 crore, according to a regulatory filing. Sequentially, it was down from ₹20,162.76 crore in the quarter ended March 2021. Interest income fell to ₹16,003.46 crore in Q1 FY22 from ₹16,445.47 crore a year earlier. However, income on investments rose to ₹3,428.20 crore from ₹2,973 crore. The loan book grew 12% year-on-year.
February 2025 saw a 2% increase in passenger vehicle sales in India, with upcoming festivals expected to boost demand.
Fitch Ratings revises outlook on Adani Group entities to Stable, affirms 'BBB-' rating, and takes rating action on other bonds.
Equity market benchmarks Sensex and Nifty rise on strong domestic data and global trends, led by ICICI Bank and Reliance: Follow The Hindu’s updates on the Sensex and Nifty
Scopely will pay $3.5 billion to acquire Niantic’s game unit, including the studio behind Pokemon Go.
Follow The Hindu’s updates on the rupee : Mumbai forex analysts report on rupee's gains against the dollar amid global tariff tensions and economic data.
The U.S. Federal Trade Commission is moving ahead with an antitrust probe of Microsoft, Bloomberg News reported.
Intel hires semiconductor industry veteran Lip-Bu Tan as CEO to revive struggling company amid leadership changes and financial challenges.
Nandan Nilekani predicts India as top IPO market by 2035 with 1 million startups and $8 trillion economy potential.
BNW Developments partners with Taj to bring luxury living to UAE's Al Marjan Island, Ras Al Khaimah.
Equity indices Sensex and Nifty close lower amid global economic concerns, with IT and telecom stocks leading the decline.
Rupee closes at 87.19 against US dollar amid tariff uncertainties, crude oil prices, and global market volatility.
NCLAT rejects IRDA pleas against Shriram Group insurance arm mergers, citing no statutory bar under Insurance Act.
TIVOLT Electric Vehicles inaugurates e-SCV manufacturing plant in Chennai with high-performance EVIATOR for sustainable transportation solutions.