HDFC Bank net profit at Rs 3,455 cr, up 20% in Q2
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HDFC Bank reported net profit of Rs 3,455 crore, 20.4 per cent year-on-year growth in quarter ended September’16. This was in line with Bloomberg estimates of Rs 3,456 crore. Net interest income (interest earned less interest expended) at Rs 7,994 crore grew by 19.7 per cent year-on-year, while net revenue at Rs 9,233 crore expanded by 18 per cent year-on-year, slightly below Bloomberg estimates at Rs 10,144 crore.
Net interest margin for the quarter stood at 4.2 per cent. Provisions and contingencies made during the quarter increased by 17 per cent to Rs 749 crore. Advances for the quarter increased by 18.1 per cent to Rs 4,94,418 crore, while total deposits registered 16.7 per cent year-on-year growth to Rs 5,91,731 crore in September’ 16 quarter.
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As the results for the Maharashtra polls will be announced tomorrow, Shiv Sena (UBT) leader Sanjay Raut on Friday exuded confidence in the victory of the Maha Vikas Aghadi (MVA), saying that around 160-165 MLAs will be elected from MVA.
Reacting to the speculations of the CM face from Maha Vikas Aghadi, Raut asserted that no formula has been made yet for the selection of the CM face as everyone will sit together and choose the CM.
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The Supreme Court on Friday issued a notice to the Enforcement Directorate (ED) in response to a petition from former Delhi Deputy Chief Minister and Aam Aadmi Party (AAP) leader Manish Sisodia. Sisodia sought a relaxation of the bail condition that mandates him to appear before the investigating officer every Monday and Thursday.
An SC bench of Justices BR Gavai and KV Viswanathan said that it would make a decision on the matter during the next hearing without any adjournment.
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Kenya's president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto in a state of the nation address said the decision was made based on new information provided by our investigative agencies and partner nations. He didn't specify the United States.
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Asserting that the relationship between India and the US is built on a strong foundation, the White House has expressed confidence that it can navigate the ongoing crisis surrounding bribery charges against Indian billionaire Gautam Adani.
At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.
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Prime Minister Narendra Modi on Monday (local time) held a bilateral meeting with his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 Summit in Brazil. PM Modi stated that their discussions focused on strengthening ties in defence, security, trade, and technology. He remarked, "India-Italy friendship can greatly contribute to a better planet."
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