Business
After Axis Bank posted strong results, here’s what brokerages have to say
Shares in Axis Bank rose 2% in early trade, a day after the company announced its December quarter earnings.
The bank reported a 224% year-on-year rise in its net profit to Rs 3,614 crore.
The private sector lender also reported a 17% rise in net interest income to Rs 8,653 crore.
The bank performed strongly in terms of asset quality, with the total non-performing asset ratio falling by 36 basis points sequentially to 3.17%. Net NPA ratio fell 17 basis points sequentially to 0.91%.
Axis Bank said its net loan slippage fell 38 basis points month-on-month to 0.06%. Specific loan loss provisions fell to Rs 7.9 crore from Rs 9.27 crore in the previous quarter.
Fee income rose 15% year-on-year to Rs 3,344 crore, while trading profit and miscellaneous income were Rs 3,670 crore and Rs 1.3 crore, respectively.
Total deposits rose 20% year-on-year to Rs 770,000, with current account savings account deposits up 22%. The CASA ratio improved 189 basis points year over year to 44%.
The overall capital adequacy ratio (CAR), including profit for the first nine months of the fiscal year, was 18.72%, and the Common Equity Tier 1 ratio was 15.33%.
Complete News Source : Money Control
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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