RailTel Corporation of India reported a 3% rise in profit after tax to Rs 77.53 crore for the January-March quarter of 2023-24. The company achieved a total income of Rs 2,622 crore and a total PAT of Rs 246 crore for the year ended on March 31, 2024, recording a growth of 31% in turnover and profits compared to the previous year.
Shares of SBI Cards and Payment Services dropped 4% to the day’s low of Rs 718 on Monday after the company released its Q4 results on Friday, reporting an 11% YoY rise in profit after tax to Rs 662 crore for the quarter ended March 2024. Total revenue rose 14% YoY to Rs 4,475 crore in the fourth quarter of 2023-24.
-
Uncategorized
Bain Capital, Advent International, and CVC Capital are among the private equity funds that are competing to buy Shriram Housing Finance Ltd (SHFL), an arm of Chennai-based non-banking finance company Shriram Finance. The shortlisted bidders are currently conducting due diligence, with binding bids due in a fortnight. SHFL expects a valuation of Rs 6,500 crore for the business, while the initial offers have been in the Rs 5,000-5,500 crore range.
India’s fourth largest IT company, Wipro, is likely to report a 12.2% decline in its December quarter net profit to Rs 2,680.90 crore, according to estimates by Nuvama. The decline is attributed to a drop in quarterly revenue and the impact of a one-month wage hike. However, the profit after tax (PAT) is expected to grow 1.3% sequentially. The company’s revenue from operations is also expected to decline on both a year-on-year and quarter-on-quarter basis.
