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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)

Indices Today's movement
SGX Nifty 0.72%
Nikkei 225 (Japan) 1.43%
Hang Seng (Hong Kong) 1.34%
SSE Composite (China) 0.22%
Dow Jones (US) (October 14) 1.34%
NYSE (US) (October 14) 1.55%
Nasdaq (US) (October 14) 3.08%
S&P 500 (US) (October 14) 2.37%

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

Categories: Morning Update