The Q4 financial results of HCL Technologies are forthcoming. The services sector is anticipated to be the main driver of growth, although due to seasonal weakness, most analysts anticipate a sequential fall in constant currency sales, with software revenue in particular projected to see a severe decline. Reliance Securities forecasts a 1.6% QoQ decline in…
Sensex Today Live: Indian markets started the week down as information technology (IT) sectors plunged after unsatisfactory fourth-quarter earnings from Infosys and Tata Consultancy Services. IT Companies Today IT companies; Infosys and Tech Mahindra were the leading losers from the Sensex pack, losing 7-11%. Along with NTPC, Wipro, HCL Tech, TCS, HDFC Bank, and HDFC…
After ChatGPT’s introduction on November 30, 2022, M Pattabiraman, an associate professor at IIT Madras and the inventor of freefincal, was introduced to it by his brother-in-law. Pattabiraman has been preoccupied ever since with the question, “How do I leverage its power to benefit freefincal readers, and how do I leverage it to build something…
CEO of Tata Steel, T V Narendran, has confirmed that discussions for a financial package are still ongoing with the UK government. Tata Steel News Narendran said that the request for a financial package has not yet resulted in a resolution. In answer to a question about Tata Steel’s plans to leave the UK market,…
PPP increased 14.4% YoY at Rs 18,621 crore. Provisions and contingencies were Rs 2,685.4 crore, down from Rs 3,312.4 crore a year earlier. HDFC Bank Ltd.’s March quarter net profit rose almost 20% to Rs 12,047 crore on Saturday. Revenue rose 31% at Rs 53,851 crore. HDFC paying a final dividend The board authorised a final dividend of Rs 19 per share. Seven brokerages anticipated the lender’s net profit would grow 21% to Rs 12,180 crore. HDFC Q4 results 2023 For the March quarter, net interest income rose 24% to Rs 23,352 crore. Core net interest margin was 4.1% on total assets and 4.3% on interest-earning assets. In the quarter, other income grew 27% to Rs 8,731 crore, helping the bank’s bottom line. PPP increased 14.4% YoY at Rs 18,621 crore. Provisions and contingencies were Rs 2,685.4 crore, down from Rs 3,312.4 crore a year earlier. Private lenders have steady asset quality. March’s gross non-performing assets ratio was 1.12%, down from 1.23% a quarter earlier and 1.17% a year earlier. Net non-performing assets were 0.27% at March-end, down from 0.33% a quarter earlier and 0.32% a year earlier. The capital adequacy ratio rose to 19.26% on March 31 from 18.90% a year earlier and 17.66% a quarter earlier. BANK’s Other Valuations Bank’s deposits rose 21% to Rs 18.83 lakh crore as of March 31. Savings account deposits increased 11.3% to Rs 5.62 lakh crore and current account deposits at Rs 2.73 lakh crore. Advances jumped 17% to Rs 16 lakh crore on March 31. Domestic retail loans rose 21%, commercial and rural banking loans 30%, and corporate and other wholesale loans 12.6%. 2.6% were overseas advancements. Bank Results Analysis HDFC Securities struggled in volatile markets throughout the quarter. Revenue fell from Rs 510 crore to Rs 486 crore. Profit after tax fell to 194 crore from 236 crore a year earlier. HDB Financial Services, a non-deposit-taking non-banking financing subsidiary of HDFC Bank, recorded a roughly 6%…
