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Yes Bank Q4 profit doubles to Rs 452 crore

Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front.

In the year-ago quarter, the bank logged a profit of Rs 202.43 crore.

The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.

Bank-on , Bank-photograph , Yes-bank , Business-news , Usiness-news-india , Ndia-business-news , Ndian-economy-news , Ndian-financial-news ,

Big win for Go First lessors

The Delhi high court on Friday directed the civil aviation regulator to deregister planes leased to Go First within five working days, giving respite to the lessors.

This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask for a stay.

Justice Tara Vitasta Ganju also refused the request of the RP, represented by advocate Diwakar Maheshwari, to keep the operation of the order in abeyance for a week to enable them to file an appeal before the division Bench of the court.

India , Delhi , Justice-ganju , Nishant-pitti , Ajay-singh , Diwakar-maheshwari , Justice-tara-vitasta-ganju , Spicejet , Airport-authority-of-india , Ministry-of-corporate-affairs , Bee-airways , National-company-law-tribunal

Govt extends approval for use of drones for spraying pesticides for 1 year

The government has extended the interim approval given to plant protection companies for use of drones for spraying specified pesticides.

The approval has been extended for one more year starting from April 18, 2024.

All other terms and conditions for the use of drones for spraying plant protection chemicals including the standard operating procedures etc. will remain the same.

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Anup Rau: 'We will grow at about 20% over next few years'

'Private General insurers are poised to grow at 17 per cent - 18 per cent over the next 5 to 7 years and we will grow faster.'

Switzerland , India , Swiss , Anup-rau , Private-general , Future-generali-india , Future-generali-india-insurance , Future-generali , Gross-written-premium , Business-news , Usiness-news-india

India-made chips may soon power iPhones

Micron Technology, a global leader in memory and storage, is considering supplying Made-in-India chips from its Gujarat plant to one of its key global clients, Apple, whose vendors assemble iPhones in the country.

Micron is setting up an assembly test marking and packaging (ATMP) plant in Sanand, Gujarat.

Currently, Apple vendors import chips for manufacturing iPhones. Sources in the know say the aim is to use part of the production to supply to Micron's clients in India directly.

Malaysia , Japan , Singapore , India , Taiwan , China , Sanand , Gujarat , Apple-inc , Samsung , Micron-technology

Above-normal monsoon likely to ease food prices: FinMin

With the prediction of an above normal monsoon in 2024, the government is expecting food prices to come down, the finance ministry's monthly economic report for March has said.

The report, released on Thursday, said robust foreign inflows and comfortable trade deficits were expected to keep the rupee within a comfortable range.

'Further easing of food prices is on the anvil as IMD (India Meteorological Department) has predicted above-normal rainfall during the monsoon season, which is likely to lead to higher production, assuming good spatial and temporal distribution of the rainfall,' the monthly report, released by the Department of Economic Affairs, said.

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Will AI Replace Call Centres?

This could fundamentally transform the industry that had been a major source of employment in countries like India and the Philippines.

Philippines , India , Pixabay-pexels , Infosys , Tata-consultancy-services-ceok-krithivasan , Tata-consultancy-services , Financial-times , Business-news , Usiness-news-india , Ndia-business-news , Ndian-economy-news , Ndian-financial-news

Tech Mahindra jumps over 12% in opening trade

IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins.

Shanghai , China , Seoul , Soult-ukpyolsi , South-korea , Hong-kong , Tokyo , Japan , Bajaj-finserv , Mohit-joshi , Tata-steel , Mahindra

Good times ahead for United Breweries as heatwave, IPL set the tone

A cocktail of heatwave and upcoming cricketing events is expected to usher in the peak season for the country's largest beer maker, United Breweries.

The beer maker, which has gained share in some key markets, will be a major beneficiary as April to July is an important period contributing to 40-45 per cent of its annual beer volumes.

Going ahead, the T20 Cricket World Cup in June and the ongoing IPL will have a positive impact on volumes and should be able to offset the negative impact of elections on sales, experts believe.

Karnataka , India , Karan-taurani , Abneesh-roy , Rounak-ray , Kinjal-shah , Nuvama-research , World-cup , Elara-capital , United-breweries , Business-news , Usiness-news-india

Deloitte pegs India's FY25 GDP growth at 6.6%

Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows.

In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services.

With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.

Germany , United-states , India , Japan , China , Rumki-majumdar , Ayushman-bharat , Fitch-ratings , While-the-asian-development-bank , Deloitte , World-bank , International-monetary-fund