L&T Finance Holdings gains post Q4 results
Posted on 23rd April 2015 |
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| Shares of L&T Finance Holdings has moved higher by 4% to Rs 66.45 on the NSE in an otherwise weak market after reporting a 10% year on year (yoy) jump in its consolidated net profit before exceptional items at Rs 206 crore for the quarter ended March 2015 (Q4). Net interest income grew 21% at Rs 706 crore on yoy basis. Gross non-performing assets (NPA) during the quarter under review declined to 3.01% against 3.18% and net NPA to 1.98% from 2.29% over the previous year quarter, L&T Finance Holdings, the non-banking financial arm of Larsen & Toubro said in a filing. The company said gross NPA and net NPA have shown a significant improvement due to robust collections and judicious sale of certain stress assets to asset reconstruction companies (ARCs). The operating performance has been strong with healthy margins, increased fee income, stable opex and improvement in asset quality, it added. Y. M. Deosthalee, chairman & managing director, L&T Finance Holdings said, “Healthy net interest margins, increased fee income and stable operating expenses all through the year have enabled the company to accelerate provisions that would result in a stronger balance sheet and create further headroom for growth.” The stock opened at Rs 63.70 and touched a low of Rs 63 on the NSE before the announcement of Q4 results. The trading volumes on the counter surged more than three-fold with a combined 10.7 million shares changed hands on the NSE and BSE till 1358 hours. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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