Market News
7 min read | Updated on January 27, 2025, 12:27 IST
SUMMARY
Shares of Bank of India jumped nearly 4.5% during the late morning trade after the bank reported a 35% jump in its net profit to ₹2,517 crore for the December quarter on account of a decline in bad loans, rise in net interest income and income from treasury operations.
Shares of ICICI Bank, Laurus Lab, CreditAccess remain in focus.
At 11:20 AM, the S&P BSE SENSEX was trading at 75,527.96, down 594.54 points, or 0.78%, while the NSE's NIFTY50 index was trading at 22,890.20, falling 202 points, or 0.87%.
At 11:30, the shares were trading at ₹102.65 apiece, advancing 4.42% on BSE.
The PSU’s NII expanded 11% year-on-year to ₹6,070 crore in Q3FY25. However, the net interest margin (NIM) moderated to 2.80%, from 2.85% in Q3FY24. The bank has guided the NIM at the range of 2.85-2.89% for the current fiscal year.
At 11:30 AM, shares of DCB were trading 4.36% higher at ₹118.50 on BSE.
This comes after the private sector lender reported a 19.6% y-o-y increase in net profit for the third quarter ending December 31, 2024, reaching ₹151.4 crore, as compared to ₹126.6 crore in the same quarter of the previous fiscal year.
The bank's net interest income (NII), which reflects the difference between the interest earned on loans and the interest paid on deposits, increased by 14.5%, totaling ₹543 crore, up from ₹474 crore in Q3 FY24.
The company reported a decline in Q3 FY25 in both net profit and revenue compared to the same period last year. The net profit dropped by 29.2%, standing at ₹71.4 crore, down from ₹100.8 crore in the year-ago period. Revenue also fell by 13.1% to ₹1,130.9 crore, compared to ₹1,301.8 crore last year.
Despite the dip in profit and revenue, the company managed to maintain its operational performance. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were marginally lower at ₹123 crore, down 2% from ₹125.5 crore a year earlier. On a positive note, the EBITDA margin improved to 10.9% from 9.6%, indicating better cost management and operational efficiency.
The company reported a 61% increase in its consolidated profit to ₹1,058.73 crore for the quarter under review. Its net profit stood at ₹655.71 crore in the year-ago period.
Total income rose 5.7% to ₹1,737.47 crore in the third quarter of this fiscal from ₹1,643.51 crore registered in the corresponding period of the preceding year, according to a regulatory filing.
During the April-December period of the 2024-25 fiscal, the company's net profit rose to ₹3,084.62 crore from ₹1,803.71 crore in the year-ago period.
Total income grew to ₹5,648.12 crore in the first nine months of this fiscal from ₹4,641.64 crore in the corresponding period of the preceding financial year.
At 11:40, the company was trading at ₹18.38, advancing 0.71%.
The private sector lender reported a net profit of ₹612.27 crore in the third quarter of FY25, registering a stellar 164.5% year-on-year (YoY) jump, while its net interest income (NII) rose by 10.2% YoY to ₹2,224 crore. The bank’s net interest margins (NIMs) remain stable at 2.4%.
The company's stock price dropped 15.72% to ₹771.15 apiece on the BSE at 9:30 am after opening at ₹851.
The microfinance lender on Friday reported a net loss of ₹99.5 crore for the third quarter that ended December 31, 2024. The loss was due to early risk recognition, conservative provisioning, and accelerated write-offs, positioning the company for normalised growth and profitability in the coming quarters.
However, the lender’s total income increased 6.7% in the reporting quarter to ₹1,381.9 crore as compared to ₹1,295 crore same quarter last financial year.
During the intraday trade, the company was trading at 5.69% lower at ₹861.90 on BSE.
Profit booking also gained momentum following reports that the US had ordered a pause in foreign aid, potentially halting funding for the President's Emergency Plan for AIDS Relief (PEPFAR) as early as Monday. This move could disrupt the provision of anti-viral medications (ARVs) to millions.
Shares of Lauras Lab were trading at ₹532.30, slipping 11.47% on BSE. The scrip gave up all gains of the last two trading days.
The company delivered a strong performance in Q3 FY25, with net profit surging 52.3% y-o-y to ₹89.4 crore, compared to ₹58.7 crore in the same quarter last year.
Revenue grew by 4.1% y-o-y to ₹460.9 crore, up from ₹442.6 crore, showcasing steady operational growth. However, EBITDA saw a slight dip, declining 2.3% on-year to ₹384.6 crore, compared to ₹393.6 crore in Q3 FY24.
The scrip of the company climbed 2.09% to ₹1,234.50 apiece on the National Stock Exchange (NSE). On the BSE, it advanced 2.03% to ₹1,234 per piece.
On Saturday, the second-largest private sector lender reported a 15% rise in standalone net profit to ₹11,792 crore for the quarter ending in December, helped by growth in core income. They earned a net profit of Rs 10,272 crore in the same quarter a year ago.
Total income increased to ₹48,368 crore from ₹42,792 crore in the same period a year ago, the bank said in a regulatory filing.
On the asset quality front, the bank's gross non-performing assets ratio improved to 1.96% as against 2.3% a year ago.
Similarly, net NPAs, or bad loans, came down to 0.42% from 0.44% at the end of the third quarter last fiscal year. However, the overall provisions, excluding tax, increased to ₹1,227 crore during the quarter from ₹1,049 crore a year ago.
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