HDFC Bank posts strong results

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⭐ HDFC Bank posts strong results

HDFC Bank’s standalone revenue for the September quarter grew by 18.3% year-on-year (YoY) to ₹28,869 crore, while its net profit increased by 20.1% to ₹10,605 crore. The bank’s net interest income (NII) grew by 18.9% to ₹21,021 crore, while its gross non-performing assets (GNPA) improved to 1.23% from 1.35% as on 30 September 2021.   

⭐ DMart’s profit zooms

Avenue Supermarts, which runs the DMart chain of stores, reported a 36.5% YoY rise in consolidated revenue to ₹10,638 crore. Meanwhile, its net income jumped by 64.1% YoY to ₹686 crore. The company added 8 new stores during the quarter. The company’s management said the FMCG and staples segment performed better than the general merchandise and apparel segments.

⭐ Dilip Buildcon bags new order

Infrastructure firm Dilip Buildcon has won a new order worth ₹702 crore from Gujarat Metro Rail Corporation (GMRC). The project involves the construction of a 8.7 km route of Surat Metro Rail and will be completed in 26 months.

Global markets (at 7:30 AM today)

Fact of the day

India is expected to overtake the UK and become the fifth-largest economy in the world in FY23, according to the IMF.

Source: Business Standard