DIGIT PROFIT
Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up
"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
Go Digit stock likely to face pressure amid elevated combined ratio
After gaining over 24% within three weeks since listing on bourses on May 23, the stock of Go Digit General Insurance has remained range bound following weak performance in the March quarter, which was declared on June 11.
Go Digit hits second year of profit in FY24, shares surge
The company's shares were up nearly 10% in the early trade on Wednesday, the stock closed at Rs 341,75, up 1% from the previous day. In the last quarter of FY24, Go Digit reported Rs 2,336 crore worth of gross premium collected, up 19.4% from Rs 1,955 crore in the prior quarter. For the full year, the company collected Rs 9,016 crore in premiums, marking a 24% rise from Rs 7,243 crore in FY23.
Unpacking Go Digit’s earnings; PEs in IPO-bound firms
Go Digit General Insurance reported its second consecutive full year of profit in fiscal 2024. This and more in today’s ETtech Top 5.
India Inc exits FY24 on a strong note, clocks double-digit profit growth in Q4
Corporate India saw double-digit growth in net profit and single-digit revenue increase in the March 2024 quarter. Expectations are for healthy growth in the current fiscal year due to peaking interest rates and government policy continuity.
Muthoot Finance's AUM grows 25% to Rs 89,079 cr in FY24
Muthoot Finance's consolidated assets under management surged 25% YoY to Rs. 89,079 crores in FY24, with a 22% YoY increase in profit after tax to Rs. 4,468 crores. The chairman emphasized a pivot towards non-gold loan growth and digital strategies, aiming to boost subsidiaries' contribution and expand into diverse financial sectors.
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Muthoot Finance shares rally 4% post Q4 results. Should you invest?
Muthoot Finance Share Price: Muthoot Finance shares surged by 4.3% on Friday on the BSE, reaching a day's high of Rs 1,745. This uptick followed the company's announcement of a profit after tax of Rs 1,056 crore, marking a 17% year-on-year (YoY) increase compared to Rs 903 crore reported for the corresponding period last year.
Apollo Hospitals Q4 Results: Net profit rises 76% YoY to Rs 254 crore
Revenue grew 15% YoY to Rs.4,944 crore in Q4FY24. The earnings before interest, tax, depreciation and ammortisation (EBITDA), EBITDA rose 31% YoY to Rs.640 crore in Q4FY24. The EBITDA margins expanded 161 basis points YoY to 12.95%.
Apollo Hospitals Q4 Results: Net profit soars 77% YoY to Rs 258 crore; revenue jumps 15%
Apollo Hospitals Q4 Results: Revenue from operations for the January-March 2024 period increased 15% YoY to Rs 4,944 crore. The company's board has recommended a final dividend of Rs 10 per share for FY24. EBITDA for the fourth quarter stood at Rs 640 crore in the reporting March quarter, compared with Rs 488 crore in the same quarter a year earlier.
Oyo’s maiden annual profit; RBI guidelines for fintech SRO
In a significant turnaround, hospitality startup Oyo reported its first annual profitable fiscal on Thursday. This and more in today’s ETtech Top 5.
NIIT Q4 Results: Firm reports profit of Rs 11.16 crore vs YoY loss
Skill and talent development company NIIT on Friday reported a consolidated net profit (attributable to owners of the parent company) of Rs 11.16 crore for the quarter ended March 31, 2024. The company had posted a loss of Rs 9.36 crore in the year-ago period, according to a regulatory filing.
Pieter Elbers explains what is driving up IndiGo profitability and double-digit capacity guidance for FY25
Pieter Elbers, CEO of InterGlobe Aviation, highlights IndiGo's unique position with over 50 planes delivered annually. Q4 revenue drivers include Indian market growth and strategic initiatives. He discusses the seasonally weak Q4 yields and predicts similar revenue environment for Q1 FY25. Elbers says their strategy is starting to take shape and resonating very well for all the different initiatives.
Nifty can give double-digit returns in 2024 if BJP gets 290 plus seats: Bernstein
Global brokerage firm Bernstein predicts Nifty returns based on Lok Sabha outcomes: BJP victory with over 290 seats may yield high single-digit or low double-digit returns.
Airtel Payments Bank's annual net profit rises 60% to Rs 35 crore
Airtel Payments Bank records 60% surge in annual net profit to Rs 35 crore, with revenue up 42% to Rs 1,836 crore. Monthly transacting users reach 80.4 million.
Expect significant growth from insurance income this year: City Union Bank MD
City Union Bank, led by N Kamakodi, aims for significant growth in insurance income to Rs 55 crore in FY'24, with a PAT of Rs 1,016 crore and NIM within guidance levels.
Go Digit Insurance IPO: Retail portion fully booked even as overall demand remains steady on Day 1
Virat Kohli bought 2.66 lakh shares of the company for Rs 2 crore in 2020, while Anushka Sharma invested 50 lakh through a private placement. Currently, Go Digit IPO GMP is Rs 45, slightly lower than the previous week.
Go Digit IPO sails through on Day 3. Check GMP and other details
Go Digit General Insurance IPO saw oversubscription and strong retail investor interest. Backed by celebrity investors, the company plans to enhance capital with the IPO proceeds, focusing on growth and empowering distribution partners.
Go Digit Insurance IPO subscribed 79% on Day 2, retail portion booked 254%. Check GMP, other details
Go Digit Insurance's IPO was subscribed 79% on the second day of the bidding process. The retail portion was fully subscribed at 2.54 times, while the non-institutional investors' portion reached 0.73 times. Qualified institutional buyers' quota was subscribed 0.24 times.
Expecting double digit disbursement and loan book growth this year: Tribhuwan Adhikari, LIC Housing Finance
I would expect this year that we would be showing a good disbursement growth in the double digits, as well as the loan book growth of double digit.
Go Digit on the fast track to growth is a long-term investor's bet, for now
Go Digit has grown business faster over the past six years. It has the lowest loss ratios among peers, which reflects high underwriting quality. In addition, a higher retention ratio and claims ratio augur well for future growth.
Go Digit Insurance Rs 2,615 crore IPO retail portion fully subscribed
The IPO, priced between Rs 258 to Rs 272 per share, will close on Friday. The company had reserved 9.6 million shares for retail investors.
Digit Insurance IPO's retail portion fully subscribed; key highlights of the offering
The retail portion of Digit Insurance's IPO was fully subscribed at 1.45pm. The company had reserved 9.6 million shares for retail investors in the issue that opened on Wednesday. The Rs 2,615-crore IPO comprises a fresh issue of Rs 1,125 crore and an offer for sale component of up to 54.7 million shares.
Virat Kohli-backed Go Digit IPO opens for subscription. Should you bid?
Go Digit Insurance IPO opens today and closes on May 17. The IPO includes a fresh equity issue of Rs 1,125 crore and an offer for sale of up to 5.47 crore shares. Virat Kohli and Anushka Sharma will retain their investments.
Strong financials, steady growth will help Digit’s public listing sail through: Kamesh Goyal
Insurance startup Digit is set to hit the public markets on May 15, looking to raise Rs 1,125 crore through a fresh issue of shares and an offer for sale of 54 million equity shares.
MapmyIndia's Q4 net profit rises 35% to Rs 38 crore
Homegrown navigation firm CE Info systems, which owns the digital map services platform MapmyIndia, reported a 47% jump in its consolidated operating revenue to Rs 106.9 crore. The company's board approved a dividend of Rs 3.5 per equity share.
Blinkit turns adjusted Ebitda positive in March; eyes 1,000 dark stores by FY25 end
Blinkit, a quick-commerce platform owned by Zomato, is on the path to profitability. The company achieved positive adjusted Ebitda for the first time in March.
Virat Kohli, Anushka Sharma to score 263% return, Rs 7 crore profit with Go Digit IPO
Go Digit IPO: The new-age insurance startup on Friday announced that its Rs 2,615 crore IPO, which will run from May 15-17, comes with a price band of Rs 258 to Rs 272 per share. The shares are already commanding a premium of around Rs 50 or 18% in the grey market
Indian Bank aims to make over Rs 1 lakh crore digital transactions: MD & CEO Shanti Lal Jain
Indian Bank on Monday reported a 55 per cent jump in its net profit to Rs 2,247 crore for the January-March 2024 quarter as compared to a net profit of Rs 1,447 crore made last year.
Unity Small Finance Bank Q4 Results: PAT at Rs 143 crore; NII rises 55% YoY
The bank, promoted by Centrum Financial Services, said its net interest margin was at 10.8%. Its operating profit soared nearly four-fold at Rs 147 crore against Rs 37 crore in the year-ago quarter.
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