Friday, October 23
Bank of Maharashtra (BoM) on Wednesday reported a 36% year-on-year (YoY) increase in its standalone net profit, reaching Rs 1,406 crore compared to Rs 1,035 crore posted in the same period last year. The interest earned in Q3FY25 showed a 22% growth, totaling Rs 6,324.65 crore, up from Rs 5,171.45 crore recorded by the state lender in the corresponding quarter of the previous financial year.The interest expended by BoM in the reported quarter stood at Rs 3,381.38 crore, compared to Rs 2,705.69 crore in Q3FY24, marking a 25% YoY increase.The earnings were announced during market hours, and shares of Bank of Maharashtra were trading at Rs 51.26, down by Rs 1.48 or 2.81%, around 3 pm, compared to Tuesday's closing price.On a sequential basis, the profit after tax (PAT) was up by 6%, compared
Mumbai: Vedanta Resources (VRL) is likely to raise $1 billion through a dual-tranche issuance of US dollar benchmark senior unsecured guaranteed notes, primarily to refinance its 2028 and 2026 bonds.The fund is being raised by VRL subsidiary Vedanta Resources Finance II."The dual-tranche bond offering has attracted strong investor demand, with order books exceeding $3.4 billion, including $70.75 million from joint lead manager interest," a source close to the development said.The issuances, structured under the 144A/Reg S format, include a 5.5-year tranche and an 8.25-year tranche, with settlement expected on January 24, 2025.117249397Final price guidance for the 5.5-year tranche has been set at 9.475%, while the 8.25-year tranche is at 9.850%, which is tight pricing given the current mark
IT company L&T Technology Services on Tuesday reported a 4% year-on-year (YoY) drop in its consolidated net profit for the quarter ended December 2024 to Rs 322 crore, while revenue from operations rose 9% to Rs 2,653 crore in the quarter.On a sequential basis, net profit for the reporting quarter rose marginally by 0.9% and revenues increased 3%.In constant currency (CC) terms, revenue growth during the quarter was nearly 9% YoY and in USD terms, revenues stood at $312 million.The company bagged 8 large deals in the third quarter including a $50 million agreement.“We had a strong quarter with 3.1% growth in constant currency led by our tech and sustainability segments where the demand outlook has been steadily improving," said Amit Chadha, CEO & MD, L&T Tech.In the tech segm
