Business

27 Jan

Indian Oil Q3 Earnings Preview | Dramatic rose in profit expected after weak Q2

Priyanka RoyBusiness, News

Indian Oil Corporation (IOC) Ltd will announce its third quarter earnings for the financial year 2024-25 on January 27. Analysts expect a sharp jump in profits, mainly due to the weak performance in the previous quarter (Q2 FY25). What to expect Profit jump: IOC is expected to report a profit of ₹6,140 crore, a significant rise from just ₹180 crore in Q2 FY25. Revenue growth: Revenue is estimated to grow 11% to ₹1.92 lakh crore compared to ₹1.74 lakh crore in the previous quarter. EBITDA improvement: Earnings before interest, tax, depreciation and amortization (EBITDA) is estimated to increase from ₹3,772…

25 Jan

ICICI Bank Q3 results preview: Net profit may jump 10%, asset quality likely to remain stable

Priyanka RoyBusiness, News

ICICI Bank is set to announce its financial results for the October-December quarter (Q3FY25) on Saturday, January 25. Analysts expect the bank to report a healthy rise in profit on the back of strong loan growth and stable asset quality. According to a CNBC-TV18 poll, ICICI Bank's profit after tax (PAT) is expected to rise 10.3% to reach ₹11,332.7 crore compared to ₹10,271.6 crore in the same period last year. Meanwhile, the bank's net interest income (NII) is estimated to reach ₹20,461.4 crore from ₹18,678.6 crore in Q3FY24. The bank's asset quality is likely to remain stable. Brokerage firm Motilal…

24 Jan

Flipkart and APFBC partner to empower Assam’s artisans with E-commerce tools

Business BureauBusiness

Flipkart, in collaboration with the Assam Project on Forests & Biodiversity Conservation (APFBC), hosted a workshop on January 20 at Aranya Bhawan, Guwahati, to empower local entrepreneurs, artisans, and weavers. The initiative was part of the Buyer-Seller Meet 2025, themed “Developing Market Linkages for Products Made by Forest Communities,” under the Community Component implemented by PISA. The workshop focused on Flipkart’s Samarth program, a flagship initiative launched in 2019 to enable underserved communities to leverage e-commerce. Attendees, including artisans, bamboo product makers, and weavers, gained insights into product listing, market trends, and online business operations. The event also highlighted training…

24 Jan

Wipro shares increase 5% to 52-week high after strong Q3 earnings

Priyanka RoyBusiness, News

Wipro Limited shares rose 5 percent to hit a 52-week high on January 23 following positive market sentiments since the recent Q3 result announcement.At 1:30 pm on January 23, Wipro shares were trading 3 per cent higher at Rs 319. The December quarter marked Wipro's fourth straight quarter of margin expansion, pushing its EBIT margin to a three-year high.It reported a 4.5 percent quarter-on-quarter rise in consolidated net profit at Rs 3,354 crore for the December quarter, while revenue grew marginally by 0.1 percent to Rs 22,319 crore.In Q3FY25, Wipro's IT services revenue was $2.6 billion The company posted an…

23 Jan

Ujjivan Small Finance Bank Q3 results: Rise in provisions leads to 64% decline in profit

Priyanka RoyBusiness, News

Ujjivan Small Finance Bank Ltd reported a 64% year-on-year drop in its profit during the three months ended December to Rs 109 crore due to a rise in provisions. Sequentially, the bank's profit declined 53%.The bank's provisions and contingencies rose to Rs 223 crore, up sharply from Rs 63 crore a year ago. A marginal rise in net interest income also capped the small finance bank's net interest income at Rs 887 crore, up 3% year-on-year. As a result, net interest margin fell to 8.6% in the October-December period from 9.2% a quarter ago and 8.8% a year ago. The…

23 Jan

Victorian Government Proposes $450 Million Deal to Resolve Police Pay Dispute

Deepinternational

The Victorian government's new offer aims to resolve a longstanding police pay dispute. The proposed $450 million deal includes a 4.5% annual pay increase for the next four years, an additional 0.5% increase for frontline police, and no requirement to "kit up" outside of shift times. This offer, which would cost around $456 million, is a compromise from the 6% annual increase the police union initially sought. It would also remove a costly "golden handshake" clause, potentially saving up to $50 million annually. The Police Association has welcomed the offer, and a formal vote by members is pending. If accepted,…

22 Jan

KISNA Jewellery awards 100 cars to customers in grand campaign finale

Business BureauBusiness

KISNA Diamond and Gold Jewellery, a prominent name in India’s jewellery retail sector, concluded its #Abki_Baar_Aapke_Liye campaign with a grand gesture—handing over 100 Maruti Celerio cars to lucky customers across the country. The campaign, which began on September 1, 2024, and ended on January 18, 2025, attracted over 51,000 participants, making it a milestone initiative in the jewellery industry. Participants were eligible for the lucky draw by purchasing diamond, platinum, or solitaire jewellery worth ₹20,000 or more, or gold jewellery worth ₹50,000 or more. Winners were selected from across India, with North India recording the highest participation. Special handover events…

22 Jan

Despite the allegations, the Senate Armed Services Committee summarily approved his nomination

Deepinternational

Pete Hegseth, President Trump's nominee for Secretary of Defense, is facing serious allegations of abusive behavior towards his ex-wife, Samantha Hegseth. Danielle Hegseth, his former sister-in-law, provided a sworn statement claiming that Pete exhibited "erratic and aggressive" behavior, causing Samantha to fear for her safety. Additional allegations against Hegseth include rape, excessive drinking, and misuse of public funds, all of which he has denied. Despite these claims, the Senate Armed Services Committee narrowly approved his nomination, moving it to a full Senate vote. Democrats have criticized the incomplete FBI background check on Hegseth, arguing it failed to thoroughly investigate the…

22 Jan

HDFC Bank Q3 results: Profit may inflation to 3%, NII 6-8%; know what to watch out for

Priyanka RoyBusiness, News

HDFC Bank Q3 results: The largest private lender is likely to report a 0-3 percent rise in net profit for the December quarter, while net interest income (NII) will grow 6-8 percent. Provisions may rise sequentially, but decline on a year-on-year (YoY) basis. Net interest margin (NIM) may remain stable, banking analysts said, adding that management commentary on loan growth will be closely watched later today. Axis Securities expects HDFC Bank to report a 2.2 per cent year-on-year (YoY) rise in net profit at Rs 16,737 crore for the December quarter, as against Rs 16,373 crore in the same quarter…

21 Jan

Southern California is battling devastating wildfires fueled by strong Santa Ana winds

Deepinternational

Southern California is grappling with devastating wildfires exacerbated by strong Santa Ana winds. The fires have destroyed thousands of homes and resulted in 27 fatalities. Firefighters, including inmate crews, are working tirelessly to contain the blazes. Climate change and urban expansion have contributed to the severity of the wildfires, raising concerns about future fire seasons. Residents have been forced to evacuate, and the region faces significant challenges in disaster response and recovery.