RBL Bank’s profit rises seven-fold

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⭐ RBL Bank profit rises seven-fold

Private sector lender RBL Bank reported a nearly seven-fold rise in its net profit to ₹202 crore during the September quarter. Meanwhile, its total revenue grew by 9% YoY to ₹1,648 crore. The net interest income of the bank grew by 16% YoY to ₹1,064 crore, while its gross NPAs improved to 3.8% from 4.08% as at 30 June 2022.

⭐ KEC wins new orders

RPG Group company, KEC International has secured multiple new orders worth ₹2,042 crore across different business verticals. The company bagged orders related to transmission & distribution (T&D) in the Middle East and Americas. It also secured orders for water pipeline and data centre infra work in India. Lastly, it won an order from the Railways, including track works and overhead electrification.

⭐China's GDP grows

China's economic growth rebounded at a faster-than-anticipated rate in the September quarter. The country’s GDP expanded by 3.9% during the July-September period outstripping the 3.4% market forecast mainly due to a series of measures undertaken by the government.  However, strict Covid curbs, a property crisis and global recession risk still pose challenges for the economy.

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Fact of the day

Facebook’s Bitmoji-style avatars will now be available on WhatsApp as well.

Source: Indian Express