Larus Financial News

  Revenue from operations increased 13.6 percent to Rs 17,293.62 crore in the quarter, from Rs 15,213.29 crore in the same period last year. Tata Power has delivered a robust performance in the first quarter of the financial year 2024-25, with a consolidated net profit of Rs 1,188.63 crore, marking a four percent growth from the previous year. The company's net profit saw a significant rise from Rs 1,140.97 crore reported in the same quarter last year, and a 13 percent increase from the Rs 1,045.59 crore recorded in the March quarter. Operational revenue witnessed a healthy 13.6 percent surge to Rs 17,293.62 crore this quarter, up from Rs 15,213.29 crore in the corresponding period last year. Despite market expectations of a 14.7 percent year-on-year increase in revenue to Rs 17,457 crore, as forecasted by five brokerage firms, Tata Power surpassed revenue estimates while the net profit exceeded the anticipated Rs 1,004 crore. The company's EBITDA soared to Rs 3,350 crore, a s...

Overview: IndiGo, the largest airline in India, has introduced 'IndiGoStretch,' a business class service for 12 routes, covering cities like Chennai, Bengaluru, and Hyderabad. This development signifies the airline's transition from a 'no-frills' carrier to one that accommodates premium passengers. Reservations will commence on August 6, with the intention to extend business class services to all metropolitan cities starting from Delhi. IndiGo is poised to introduce business class seating on 12 domestic routes starting mid-November, with bookings opening on Tuesday (August 6), as declared by CEO Pieter Elbers during the celebration of IndiGo's 18th anniversary. Elbers highlighted that the business class would be accessible on the busiest routes and those with a business focus, including certain flights from the national capital. IndiGo to Initiate 'IndiGo BluChip: Furthermore, IndiGo is set to unveil a new customer loyalty program named 'IndiGo BluChip...

  As the earnings season approaches its conclusion, numerous firms such as Airtel, ONGC, LIC, Vedanta, and Tata Power are poised to announce their June quarter results this week. The first quarter earnings of India Inc. have displayed a diverse performance spectrum. Information Technology firms have surpassed expectations, whereas banking entities have registered performances that fell short of projections. With the earnings season drawing to a close, key players such as Airtel, ONGC, LIC, Vedanta, and Tata Power are poised to disclose their June quarter financial outcomes in the upcoming week. Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI2407232224499405957186   In the preceding week, an array of notable corporations unveiled their Q1 financial reports. This list includes Zomato, State Bank of India, Adani Power, Axis Bank, ICICI Bank, Tata Motors, Titan, and Britannia, marking a significant phase in the corporate fiscal calendar. ‘’S...

India's premier public bank, SBI, disclosed a slight 0.9% year-on-year growth in its Q1 net profit, amounting to ₹17,035.2 crore. Meanwhile, its net interest income for the quarter witnessed a 5.7% year-on-year rise, reaching ₹41,125 crore. SBI Q1 Results Check out key details: State Bank of India (SBI), the nation's largest public sector bank, announced its financial results for the first quarter of the fiscal year 2024-25 (Q1FY25) on Saturday, August 3. Prior to the announcement, consensus estimates from five brokerages predicted the net profit to remain steady at ₹16,999 crore, while the net interest income (NII) was expected to rise by 9.53% year-on-year to ₹42,614 crore. In the same quarter of the previous year, SBI reported a net profit of ₹16,884.3 crore and an NII of ₹38,905 crore. Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI2407232224499405957186   For the quarter ending March 2024, the bank posted a net profit of ₹20,698.4 cro...

Zomato's market capitalization briefly surpassed that of IRFC and Nestle as the company's shares soared following the announcement of robust quarterly results. (Zomato Q1 Results)  Zomato's stock surged by 19.05% to an unprecedented high of ₹278.70 on Friday after the food delivery firm reported a significant increase in its June quarter earnings.  Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI2407232224499405957186   The company's profit escalated from ₹2 crore in the previous year to a substantial figure, while its revenue witnessed a 74% rise to ₹4,206 crore, surpassing estimates.  This surge in stock prices propelled Zomato's market cap to a peak of ₹2.46 lakh crore, overtaking major corporations such as Nestle, IRFC, Tata Steel, JSW Steel, and Grasim Industries. Companies  Market Cap In ₹ Lakh Cr Zomato 2.46 IRFC 2.44 Nestle  2.38 JSW Steel  2.22 Tata Steel  1.98 Grasim Industries  1.82 SBI Life I...

  Zomato's shares surged in the market following the announcement of the June quarter results. The stock reached a peak of ₹238 per share on the NSE at the close of trading, marking a 3.68% increase from the previous closing price. On Thursday, August 1, Zomato, the popular food delivery service, announced a significant leap in its financial performance with a consolidated net profit of ₹253 crore for the first quarter of the fiscal year 2024-25. This marks a substantial increase from the mere ₹2 crore profit reported in the same period last fiscal year. The company's profitability saw a robust 44.5% growth compared to the ₹175 crore net profit in the preceding quarter. Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI2407232224499405957186   In terms of revenue, Zomato's operations yielded a remarkable 74.1% year-on-year growth, with the revenue soaring to ₹4,206 crore from ₹2,416 crore reported in the June 2023 quarter. This impressive...

  M&M's Q1 Results: Mahindra & Mahindra's revenue from operations in the first quarter of FY25 saw a 12% increase to ₹27,038.79 crore from ₹24,137.19 crore on a year-on-year basis. The automaker achieved market share gains and continued margin expansion in both the Auto and Farm segments. Q1 Results: On Wednesday, automotive giant Mahindra & Mahindra reported a standalone net profit of ₹2,612.63 crore for Q1FY25, marking a 5.3% decrease from ₹2,759.43 crore in the same period last year. The decline in profit after tax was attributed to two one-off gains totaling ₹763 crore last year, according to the company. Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI2407232224499405957186   The company's revenue from operations for Q1FY25 rose by 12% to ₹27,038.79 crore from ₹24,137.19 crore year-on-year. Market share gains and margin expansion were noted in both the Auto and Farm segments. "The F25 fiscal year began with robust ...

Indian Oil Corporation's (IOC) average gross refining margin — the profit made from refining one barrel of oil — decreased to $6.39 per barrel from $8.34 per barrel the previous year. IOC reported an approximately 81% drop in first-quarter profit on Tuesday, impacted by reduced marketing margins. Click here  to read in detail about Indian Oil Financial Performance Q1 FY 2022-23 The government-owned company's standalone net profit fell to Rs 2,643 crore (approximately $316 million) for the quarter ending June 30. The average gross refining margin — the profit from converting one barrel of oil into refined products — declined to $6.39 per barrel from $8.34 per barrel a year earlier. Despite this, fuel consumption remained robust during the quarter, bolstered by strong industrial activity and activities related to the general elections, enhancing demand in Asia's third-largest economy. Invest in US Stock's at zero Brokerage and Withdrawal charges:  https://phon.pe/TI240723...

At the 'ELCIA Tech Summit 2024,' Murthy voiced doubts regarding India's capacity to match China's manufacturing dominance. He emphasized that significant advancements in this field for India hinge on enhanced government participation and public governance reforms. India's ambition to surpass China and emerge as a global manufacturing hub is fraught with substantial challenges, as per NR Narayana Murthy, the co-founder of Infosys. At the 'ELCIA Tech Summit 2024,' Murthy voiced his doubts about India's capacity to match China's manufacturing might, emphasizing the need for government intervention and enhancements in public governance for India to achieve meaningful advancement in this domain. He advised against prematurely adopting lofty designations such as "hub" and "global leader." "China has already established itself as the world's factory. Approximately 90% of items found in supermarkets and home depots abroad are pro...