136 CRORE IN FY23
ITC staff earning over a crore increases to 350 in FY24
The number of ITC employees earning over Rs 1 crore increased by 24.11 per cent in FY24 compared to the previous year, reaching a total of 350. Net remuneration of top executives, including Chairman Sanjiv Puri, saw significant jumps. The company's annual report also highlighted its increased expenditure on employee benefits, expansion into various sectors, and establishment of new factories and hotels in recent years.
Shah Rukh Khan’s Red Chillies posts net profit of Rs 85 crore in FY23
Revenue rose 2.3 times to Rs 300 crore from Rs 130 crore in FY22, the filings with the Ministry of Corporate Affairs showed. The privately held company has yet to report results for the fiscal year through March 2024.
Telco revenues surged to Rs 2.3 lakh crore in FY24: CLSA
The Indian telecom industry's gross revenue surged 87% to Rs 2.39 lakh crore in FY24, driven by the launch of services by Reliance Jio. Jio and Bharti Airtel gained subscribers at the expense of Vodafone Idea. The two top telcos now control 78% of sectoral revenue, expected to rise to 83% by FY26. Vi's revenue market share fell to 15.7%, while Airtel and Jio saw revenue growth, with Jio leading at 41.4% RMS.
Awfis swings into black in Q4 FY24; posts Rs 1.3 crore profit versus Rs 13 crore loss YoY
CCI cleared WeWork Inc's stake sale in the local coworking firm unit. Investors including the Enam group family office are investing in WeWork India. Companies in India have seen a growth revival in the co-working space.
HAL to consider final dividend payout for FY23-24 on June 26
On Wednesday, Hindustan Aeronautics (HAL), a defense PSU, disclosed its plan to discuss the payment of the final dividend for the fiscal year 2023-24 during its board meeting scheduled for June 26th.
Home loan borrowers may have repaid higher amounts
In FY23, for instance, the combined outstanding home loan portfolio of public sector and private banks and housing finance companies, which account for a big majority of the home loan market in the country was, Rs 3.62 lakh crore. But disbursements were much higher - at Rs 8.08 lakh crore. In terms of growth, while the outstanding portfolio grew 16%, the disbursements expanded 20%, according to the data released by the National Housing Bank.
Oxyzo FY24 operating revenue up 59% to Rs 903 crore, net profit at Rs 290 crore
Oxyzo Financial Services, the lending arm of OfBusiness, reported a 59% increase in operating revenue to Rs 903 crore for FY24. The company raised $200 million at a unicorn valuation from investors like Alpha Wave Global. Ruchi Kalra leads Oxyzo, which has a net worth of Rs 2,600 crore.
RBI's balance sheet size is now 2.5x the size of Pakistan's GDP
The Reserve Bank of India's balance sheet grew by 11.08% to Rs 70.48 lakh crore as of March 31, 2024. The RBI's income rose by 17.04%, while expenditure decreased by 56.30%. Consequently, the RBI's surplus increased by 141.23% to Rs 2.11 lakh crore, transferred to the Centre.
Aadhar Housing Finance Q4 Results: Net profit jumps 43% YoY to Rs 202 crore
Its total income for the quarter stood at Rs 673 crore, 25% higher than what it was for the same period last year. Aadhar, a leading lender to the economically weaker section, saw its assets under management grow 23% year-on-year to Rs 21121 crore at the end of March. Its average loan size is Rs 10 lakh.
RBI approves dividend of Rs 2.11 lakh crore to Centre for FY24, up 140% YoY
RBI DIVIDEND: At its 608th meeting in Mumbai, the Reserve Bank of India approved a dividend of Rs 2.11 lakh crore for the Central government for FY24, marking a 141% increase from FY23's Rs 87,416 crore. This move, reported earlier by ET, aids the Centre in reaching its fiscal deficit target for FY25.
Minda Corp Q4 Results: Net profit jumps 27% to Rs 71 crore
Auto components maker Minda Corporation on Wednesday said its profit after tax increased 27 per cent to Rs 71 crore in the fourth quarter ended March 2024. The company had reported a profit after tax (PAT) of Rs 56 crore in the year-ago period.
India may raise FY25 CPSE dividend target in full budget
The finance ministry is set to increase CPSE dividend estimates by Rs 5,000 crore to approximately Rs 53,000 crore for the current fiscal year in the full budget to be presented in July. This adjustment reflects improved dividend forecasts based on updated financial data. Dividend receipts for 2023-24 totaled Rs 63,000 crore.
Biocon Q4 Results: Net profit drops 57% to Rs 136 crore
Total revenue grew 1% YoY to Rs 3,966 crore. EBITDA for the quarter declined 16% YoY to Rs 964 crore, representing an EBITDA margin of 24% versus 29% in the same period last year. The gross R&D spends declined 36% YoY to Rs 228 crore in Q4FY24.
Keystone Realtors Q4 Results: Net profit falls 60% YoY to Rs 31 cr; FY24 profit up at Rs 112.21 cr
Realty firm Keystone Realtors Ltd on Wednesday reported a 60 per cent fall in consolidated net profit to Rs 30.68 crore for the March quarter while its FY24 profit rose 36.92 per cent to Rs 112.21 crore. Its net profit stood at Rs 76.59 crore in the year-ago period.
Tata Motors Q4 Results: Cons PAT jumps 46% YoY to Rs 17,529 crore, beats estimates
Tata Motors Q4 Results: The company reported a net profit of Rs 12,033 crore in the year-ago period. The revenue for the quarter under review stood at Rs 1.20 lakh crore which was a 13.3% YoY jump.
Bank of Baroda Q4 Results: PAT rises 2% YoY to Rs 4,886 crore; dividend declared at Rs 7.6/share
Bank of Baroda Q4 Results: The board also recommended a dividend of Rs 7.60 per equity share for FY2023-24
CSR spends by NSE-listed cos hit Rs 15,524 crore in FY23
Ten companies, including these three, accounted for 33% of the total spends on CSR in FY23, according to data shared exclusively with ET by primeinfobase.com, an initiative of Prime Database Group.
Ceat Q4 Results: Net profit dips 23% YoY to Rs 102 crore
Its revenue from operations rose to Rs 2,992 crore in the period under review from Rs 2,875 crore in the fourth quarter of FY23. For the fiscal ended March 2024, the company posted a net profit of Rs 635 crore compared to Rs 182 crore in 2022-23.
Ecom Express posts 20% rise in FY23 revenue to Rs 2,548 crore, loss widens
Ecom Express's FY23 revenue rose 20% to Rs 2,548 crore, but with a widened loss at Rs 375 crore due to increased total expenses. Courier services revenue exceeded Rs 2,300 crore.
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