Bottomline Financial News

Mint analysis of 3,559 BSE-listed companies showed that their combined bottomline had soared: aggregate net profit grew nearly 36% year-on-year (y-o-y), as compared with a 32% rise in the June quarter. On the flip side, topline growth has been slowing for five quarters, tapering off to low single digits in the September quarter. That growth, too, was courtesy banking, financial services and insurance (BFSI) firms.

revenue and profits for the six months ended September. While growth was board based, four-wheeler makers saw revenue growing at a faster pace than two-wheeler makers. This was on the back of a strong volume growth, led by robust demand both in the passenger vehicle and commercial vehicle segments, besides a strong traction in the electric vehicle space. Profit growth, however, was robust for the sector, aided by the easing pressure on input costs.

Shareholders in Tata Investment Corp must be laughing all the way to the bank right now. The stock is up a huge 33% in the last one week whereas the gains over the last three months and the last one year stand at 75% and 83% respectively. This is almost double the returns earned by the BSE Smallcap index and quite good to be honest.

InterGlobe Aviation (IndiGo) rose 3% to Rs 2,579.4 in Monday's trade on BSE after the airline operator swung to a consolidated net profit of Rs 188 crore from a loss of Rs 1,583 crore a year ago. Its consolidated revenue from operations increased by nearly 20% YoY to Rs 14,944 crore and was a tad higher than the estimated Rs 14,613 crore. Sequentially though, the bottomline was far lower than the Rs 3,091-crore profit posted in the June quarter, while revenue declined by more than 10% since the second quarter is typically a seasonally weak one for the sector. Earnings before interest, taxes, depreciation, amortization and restructuring or rent costs (EBITDAR), surged to Rs 2,446 crore for the quarter, from Rs 229 crore a year ago. The operating margin subsequently expanded to 16.4% from 1.8% a year ago. At 11.10 a.m., the scrip was trading 1% higher at Rs 2,532.7 on BSE. Should you buy, sell or hold IndiGo's stock? Here's what analysts say: BofA Securities BofA Securities maintained a 'Buy' rating on InterGlobe Aviation and raised the target price to Rs 2700 from Rs 2600 earlier. The Q2 PAT beat was largely driven by one-off reversals of provisions and one-off compensations.

The combined revenue of the companies that have declared their September-quarter financial results so far has risen 4.2% year-on-year, while net profits have risen 47.8%, a Mint analysis showed. Excluding the companies in the banking, financial services and insurance (BFSI) sectors, the topline contracted 1.7%, while profits were up 55.3%.

(Reuters) — PTC (NASDAQ:PTC) Inc on Wednesday forecast its fiscal 2024 revenue below Wall Street estimates, signaling weakness in demand for its industrial design and testing software as companies keep their technology budgets tight.

The bottomline was higher than an ETNow poll of Rs 2,298 crore, while the topline was largely on expected lines. Operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), for the quarter, rose nearly 8% on year to Rs 3,179.30 crore, but operating margin contracted by 91 basis points to 26.08%. Total expenses in the quarter rose to Rs 9,695 crore, from Rs 8,625 crore a year ago. Raw material costs, however, declined to Rs 1,665 crore, from Rs 2,017 crore a year ago. Investments towards research and development were Rs 773 crore or 6.4% of sales in the quarter, compared to Rs 571 crore or 5.3% of sales in the same period last year. The India formulation business revenue grew 11% on year to Rs 3,843 crore in the reported quarter.

insurance (BFSI) sectors, the topline grew 2% and profits were up 45.6%. The analysis covered 446 BSE-listed companies (including 82 banking and financial services firms) that had declared their results by Friday (27 October) and whose data was available on Capitaline’s database.

PTI said on Sunday. The capital infusion would be based on the financial performance of the general insurers in nine months, the report also said. According to the PTI report citing sources, the finance ministry last year asked three insurers to chase bottomlines rather than topline and underwrite only good proposals.

The combined revenue of the companies that have declared their September-quarter financial results so far has risen 15% year-on-year, while net profits have risen 20.2%, a Mint analysis showed. However, the trend was heavily led by banking and financial services firms.

divorce. 'Silver divorce' — the growing trend in India of couples above the age of 50 — may not be the terrible 'home breaker' that it may seem to many from the outside.

For some time the government has been focussing on specific industries which don't come under agriculture but still are very important for both increasing the income of marginalised sections in coastal and rural areas. For example, shrimp farming, animal husbandry all these have seen policy level development in the last few years.

The sector will tap into a revenue pool of around $70 billion, out of the overall financial services revenue pool of $620 billion by FY2030, according to The Bottomline: Elevation Fintech Report 2023. With over 9,000 fintech startups, India now has the world’s third largest fintech ecosystem after the US and UK, it added. The report, published by Elevation Capital and consultancy major McKinsey India on Wednesday, was compiled after interviews with over 20 industry leaders and a survey of more than 70 fintech founders and industry experts. Elevation Capital, earlier known as Saif Partners, has invested in startups like payment major Paytm, insurtech unicorn Acko, lending startup Axio (previously Capital Float), neobank Fampay, buy now pay later player Uni and others. Around $70 billion to $80 billion each have been pumped into retail lending and digital payments. SME lending as a sector has attracted around $55 billion while wealth management has brought in $40 billion to $45 billion, the report said. Between 2018 and 2022, equity infusion has gone up to $6 billion from around $2 billion, the report found.

Narendra Modi on 27 August said that an integrated approach to deal with issues related to cryptocurrencies is needed. While speaking at the B20 summit, PM Modi asked business leaders to brainstorm on issues like cryptocurrency and Artificial Intelligence. He said a global framework is required for cryptocurrency.

Prime Minister Narendra Modi emphasized the importance of using artificial intelligence (AI) in an ethical manner. PM Modi also proposed the idea of designating an annual 'International Consumer Care Day' and shifting from carbon credit trading to adopting 'green credit'. Modi further stressed that India has become the face of the digital revolution in the era of Industry 4.0, and also holds an important place in building an efficient and trusted global supply chain.

Narendra Modi on Sunday called for a global framework on cryptocurrencies, and an ethical usage of artificial intelligence (AI). Addressing the B20 Summit India 2023, organised by CII here, the prime minister also called for observing 'International Consumer Care Day' once a year and switch over to 'green credit' from the current practice of carbon credit trading. Modi also said India has become the face of digital revolution in the era of Industry 4.0, and also holds an important place in building an efficient and trusted global supply chain. «There is a challenge associated with cryptocurrencies. In this matter maximum integrated approach is needed.

RBI) estimate of 8%, economists said. Economists at SBI, the country's largest lender, have pegged India’s economic growth for the June 2023 quarter at 8.3%. They expect total FY24 growth to be higher at 6.5%.

Also Read: PSU Banks Q1 results update: PNB, SBI lead as lenders on a strong footing, double the bottomline Credit growth momentum is expected to continue to remain healthy primarily led by retail and SME segments. “We believe banks will continue to focus on deposit mobilization, keeping competitive intensity high. Deposit mobilization remains a key lever to support banks’ superior credit growth.

Utility stocks normally don't attract much attention. What gets ignored is the fact that their income streams are very stable.

₹988 on the back of robust Q1 results by corporates that could support overall bullish economic outlook for India. “We raise our FY24E Nifty EPS by 2.5% to ₹988 (earlier: ₹964) due to notable earnings upgrades in Tata Motors, JSW Steel, Bharti Airtel, SBI, and Kotak Mahindra Bank. We now expect the Nifty EPS to grow ~22% and 16% YoY in FY24 and FY25," Motilal Oswal said in a report.

As many as 40 companies, part of the BSE 500, reported more than 100% year-on-year (YoY) growth in profit in the quarter ended June, data analysed by ETMarkets showed. Profitability increased both on a YoY and sequential basis across sectors, led by stable-to-higher product prices and stable-to-lower raw material prices. Among the 40 companies were four public sector banks, including the country’s largest lender State Bank of India.SBI reported a 149% YoY growth in net profit to Rs 18,736 crore, while Punjab National Bank’s profit surged by nearly three times to Rs 1,211 crore.