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Bajaj Finance Quarterly Q4 Results 2023

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Bajaj Finance Q4: robust growth in net profit

The private non-banking lender posted a consolidated net profit of ₹3,158 crore, a rise of 30% YoY for the quarter ended 31 March 2023. Meanwhile, its net interest income surged 28% to ₹7,771 crore. In Q4, its new loan book was up 20%. In addition, the company also declared a dividend of ₹30 per share.

HDFC Life reports subdued Q4 numbers

Private life insurer reported a consolidated net profit of ₹361 crore during the March quarter. The profit declined by over 28% compared to last year. However, its net premium income grew by 24% YoY to ₹19,468 crore. Along with the result, the company announced a dividend of ₹1.9 per share.

Voltas ends JV

Air conditioner maker Voltas has terminated its joint venture with China-based Highly International (Hong Kong) to manufacture compressors in India. This comes after it could not obtain the necessary approvals from the government. In Q4, the company reported an 11% YoY rise in its net profit to ₹ 3,003 crore, while its net profit fell by 21% YoY to ₹143 crore.


Global markets (at 7:25 AM today)

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Fact of the day

The government has released ₹2,874 crore to the beneficiaries of the production-linked incentive (PLI) scheme till 31 March 2023.

Source: Economic Times

Categories: Morning Update