PNB Q2 net profit dips 11.5% to Rs 549 crore
Posted on 5th November 2016 |
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| State-owned Punjab National Bank on Saturday reported a 11.5 per cent fall in net profit to Rs 549.36 crore for the quarter ended September 30, amid a rise in provisions for bad loans. The bank had reported a net profit at Rs 621.03 crore during the July-September quarter last financial year. "Total income increased to Rs 14,218.27 crore for the quarter ended September 30, 2016, from Rs 13,701.93 crore for the same quarter a year earlier," the bank said in a regulatory filing. Total interest earned by the bank in the three-month period, however, fell by 4.16 per cent to Rs 11,830.36 crore from Rs 12,345.03 crore a year earlier. During the quarter, provisions for bad loans increased 34.6 per cent to Rs 2,533.76 crore from Rs 1,882.08 crore in the year-ago period. Gross non-performing assets (NPAs) as a proportion of total advances moved up to 13.63 per cent during the second quarter, against 6.36 per cent in the corresponding period last year. Net NPAs also rose 9.10 per cent, as against 3.99 per cent in the quarter under review. Shares of the bank had closed at Rs 131.60 apiece on the BSE on Friday. |
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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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