Economy - The Purbottar

10 May

Bank of Baroda’s Q4 profit up marginally to Rs 4,886 Crore

editorBusiness, Economy, News

On Friday State-owned Bank of Baroda reported: a marginal 2.3% grow in net profit to Rs 4,886 Crore for the Q4 ending March 2024.A year before, the bank had earned a net profit of Rs 4,775 Crore in the January-March quarter. Total income during the quarter under review increased to Rs 33,775 Crore from Rs 29,323 Crore in the same period last year, BoB said in a regulatory filing.Interest income increase to Rs 29,583 Crore during the latest 3 month period from Rs 25,857 Crore in the same quarter a year ago.In terms of asset quality, the bank's gross non-performing…

09 May

Tata Power Q4 report: Net profit gain 11% to Rs 1,046 Crore due to higher profits

editorBusiness, Economy

New Delhi: Tata Power on Wednesday reported 11% rise in its consolidated net profit in the March quarter to Rs 1,046 Crore compared to last year mainly due to higher profits. BSE filings showed consolidated profit stood at Rs 939 Crore for the quarter ending March 31, 2023. The company's total income in the quarter increased to Rs 16.464 Crore from Rs 13,325 Crore in the year-ago period. Consolidated net profit in fiscal 2023-24 rose to record Rs 4,280 Crore from Rs 3,810 Crore in the year-ago period, the company said in a statement. Total income will increase from Rs…

04 May

NSE Q4 results: Profit upsurge 20% to Rs 2,488 Crore

editor0 CommentsBusiness, Economy

The National Stock Exchange (NSE) on Friday reported a 20% year-on-year rise in consolidated net profit at Rs 2,488 Crore for the three months ending March 2024. NSE said in a statement that consolidated operating revenue in the January-March quarter of financial year 2023-24 stood at Rs 4,625 Crore, showing a growth of 34% year-on-year. Apart from trading, the exchange said the total profit was also supported by other revenue lines as well as listing, index services, data services and co-location facility. The NSE board has optional a dividend of Rs 90 per share (pre-bonus) for the financial year ending…

03 May

OECD revises India’s FY2015 progress forecast to 6.6%

editor0 CommentsBusiness, Economy, India, News

The Organization for Economic Co-operation and Development on Thursday raised India's FY2025 growth forecast to 6.6% from an earlier estimate of 6.2%. "Despite relatively sluggish private consumption growth, strong investment and improving business confidence in India are projected to propel real GDP growth to more than six and a half per cent in both FYs 2025 and 26," the OECD (Organization for Economic Co-operation and Development) said.

01 May

Indian Oil’s quarterly profit Downfall 52% due to inventory losses, low fuel prices

editor0 CommentsBusiness, Economy, India

Indian Oil Corporation (IOC) on Tuesday reported a 52 percent decline in fourth quarter profit as the company sold fuel below market prices due to inventory losses. While India is the world's third-largest oil importer and consumer, Indian Oil controls about a third of India's five million barrel-per-day refining capacity with its unit Chennai Petroleum. However, India has been buying increasingly cheaper Russian oil as discounts have fallen from $30 a barrel in 2022 to less than $10 this year, while refiners also cut fuel prices at the pumps ahead of this year's general elections. IOC reported a 52% decline…

30 Apr

UltraTech Cement Q4 net profit gain 35% to Rs 2,260 Crore

editor0 CommentsBusiness, Economy

UltraTech Cement Ltd on Monday reported 35.24% rise in consolidated net profit at Rs 2,258.58 Crore for the fourth quarter (Q 4) ended March 31, 2024. The foremost cement maker had posted a consolidated net profit of Rs 1,670.10 Crore in the January to March quarter. In the last financial year, according to a regulatory filing by UltraTech. Its revenue from operations increased by 9.41% to Rs 20,418.94 Crore during the period under review. It was Rs 18,662.38 Crore in the same period a year back. UltraTech's total expenses in the March quarter increased by 6.67% to Rs 17,381.09 Crore. The…

28 Mar

Disturbed areas of Nagaland issued AFSPA

editor0 CommentsEconomy

The Armed Forces (Special Powers) Act, 1958 (AFSPA) has been extended in eight districts and five Police stations as disturbed areas of Nagaland. According to the sources, the Ministry of Home Affairs has announced through a notification that the force will be continued for six months or more. Details about the extended AFSPA districts are Dimapur, Niuland, Chumoukedima, Mon, Kiphire, Noklak, Phek, and Peren in Nagaland. Police stations included as disturbed areas are Khuzama, Kohima North, Kohima South, Zubza, and Kezocha in Kohima district; Mangkolemba, Mokokchung-I, Longtho, Tuli, Longchem, and Anaki 'C' in Mokokchung district; Yanglok in Longleng district; Bhandari,…

29 Feb

Concerns about Russian crude oil

editor0 CommentsEconomy, India, International

India is shocked by America's new sanctions on Russia. According to sources, as a result, oil import from Moscow to this country may suffer. Because there is doubt about getting a ship to carry it. This may increase the cost of transportation. Russian companies can also reduce the price discount. All in all, the advantage that India was getting to buy oil at a low price, there is a fear of disappearing. On top of that, crude oil prices are rising again in the world market. A barrel crossed 82 dollars. In February 2022, the month following the start of…

16 May

PM Modi distributes 71,000 appointment letters to new recruits

Business Correspondent0 CommentsBusiness, Economy

Prime Minister Narendra Modi directed Rozgar Mela conference which was conducted at 45 locations in India today With the help of video conferencing Modi distributed 71,000 appointment letters to newly inducted recruits in various govt. departments through video conferencing. The prime minister said that the Rozgar Mela will boost the employment level in a country and further it will create opportunities for youth to achieve something greater in their life. "Earlier it was difficult to apply for a government job, one had to stand in line for hours to get the form. Today the whole process from applying to results…

11 May

Smriti Irani launches “Poshan Bhi Padhai Bhi” campaign

Business Correspondent0 CommentsEconomy, Education

Smriti Irani (Minister of Women and Child Development) has launched a new scheme 'Poshan Bhi, Padhai Bhi' to lay focus on the development of Child and to strengthen Early Childhood Care and Education (ECCE). According to a statement from the Ministry, “The main objective of the event is to highlight the criticality of focusing on early childhood care and education. The Ministry of Women and Child Development is launching “Poshan Bhi Padhai Bhi, a pathbreaking ECCE program to ensure that India has the world’s largest, universal, high-quality preschool network, as suggested by the National Education Policy."