HDFC Bank records 20% rise in Q4 profit

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⭐ HDFC Bank records 20% rise in Q4 profit 

The private lender saw its March quarter net profit rise 19.8% YoY to ₹12,047 crore on the back of higher core income and lower provisions. Its net interest income increased by 23.7% YoY to ₹23,351 crore. The company’s board also recommended a dividend of ₹19 per share for its shareholders. 

⭐Infosys Q4: Revenues up, but challenges ahead in FY24

The IT giant reported an 8% YoY growth in consolidated net profit to ₹6,128 crore during the March quarter. During the same period, its revenue grew by 16% YoY to ₹37,441 crore. The company also declared a final dividend of ₹17.50 per share. Meanwhile, the company gave conservative sales guidance of 4-7% for FY24. Click here to get a complete overview of Infosys results. 

⭐ Zydus Lifesciences gets USFDA nod

The pharma company has received USFDA approval to manufacture and market a new drug, isoproterenol hydrochloride injection. As per IQVIA, this solution has annual sales of over $28 million in the US market.

Global markets (at 9:00 AM today)

Fact of the day

India’s trade deficit widens to $19.7 billion in March, higher than the $17.4 billion recorded in the previous month

Source: Business Standard