Corporate News
Maruti Suzuki Reports 47% Surge in Q1 Net Profit to ₹3,650 Crore
This was helped out by effective cost management, positive commodity prices, and revenues from foreign exchange. Maruti Suzuki net sales during the quarter were at ₹ 33,875.3 crores versus ₹ 30,845.2 crores in the three months ended December 2018.
Tata Steel Reports 75% Surge in Q1 Net Profit, Reaching Rs 960 Crore
The stock of Tata Steel ended 0.79% higher at Rs 165.35 apiece, against the benchmark BSE Sensex's marginal 0.35% rise.
Samsung’s operating profit rises 15 times to $7.54 billion in Q2
This marks the first time Samsung Electronics has posted an operating profit exceeding 10 trillion won in seven quarters, since Q3 of 2022. The company's sales surged 23.4% year-on-year to 74.06 trillion won, and net profit soared by 471% to 9.84 trillion won.
Mankind Pharma Secures Bharat Serums and Vaccines in ₹13,630 Crore Deal
According to a statement issued by the company, "Mankind Pharma has signed and closed definitive agreements to acquire 100% shareholding of BS;V, valuing the transaction at approximately Rs 13,630 crores.".
CBDT Chairman Unveils Simplified Tax System with New Capital Gains Regime
He explained that under the new tax regime, there has been a reduction in income tax rates and an increase in the standard deduction, which will enable people to save more and have greater flexibility in their investments and expenditures.
L&T Reports 12% Increase in Net Profit to ₹2,786 Crore for April-June Quarter
Its international revenues stood at Rs 26,248 crore, making up 48% of the total revenues for the quarter. Group consolidated new orders reached an all-time high of Rs 70,936 crore, up 8 per cent year-on-year, driven by robust demand conditions in the Middle East.
Axis Bank Reports 4% Increase in Q1 Net Profit, Reaching ₹6,035 Crore
While the asset quality showed a minor decline with the gross non-performing assets ratio rising to 1.54 per cent of total loans from 1.43 per cent in the previous quarter, the net NPA ratio rose to 0.34 per cent from 0.31 per cent.
Tesla’s Q2 Profit Falls by 45%, Musk to Unveil Robotaxi in October
The firm's overall sales went up 2 percent year on year to $25.5 billion. Cash from automotive sales dropped 7 percent to $19.9 billion, the electric vehicle manufacturer reported.
HDFC Bank Reports Significant 35% Increase in Q1 Net Profit, Reaches Rs 16,175 Crore
The consolidated profit for the bank in the said quarter stood at Rs 16,474.85 crore. Interest income increased by 50.3 per cent YoY to Rs 73,033.14 crore during the raid quarter, as against Rs 48,586.81 crore in Q1 23-24. The Net Interest Income was at Rs 29,837.1 crore for the said period.
Yes Bank Reports Robust 47% Increase in Q1 Net Profit, Reaching Rs 502 Crore
Yes Bank on the asset quality front, remained quite impressive during the first quarter of the fiscal. Gross non-performing assets came down to 1.7% of total loans as of June 30 from 2 per cent in the same period last year.
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