The bank has reported a profit of Rs 10,342.20 crore against a CNBC-TV18 poll estimate of Rs 10,179.1 crore. Gross non-performing assets were at 1.26 percent of gross advances as of December 31, 2021. This was in comparison to 1.35 percent as on September 30, 2021.
The company’s Q3 profit and revenue exceeded market expectations. Net profit came in at Rs 3,442 crore against CNBC-TV18 poll of Rs 3,390 crore while revenue came in at Rs 22,331 crore, higher than CNBC-TV18 poll of Rs 21,674 crore.
The company’s wholly-owned subsidiary Oil India (US) Inc divested its entire stake in Niobrara Shale Asset, US. Consideration received from such a sale is $ 25 million.
The company has approved an investment of up to Rs 420 crore in one or more tranches, in Ather Energy. Prior to the proposed investment, Hero MotoCorp’s shareholding in Ather Energy was 34.8 percent.
Hinduja Global Solutions
The company has acquired the digital business of NXTDIGITAL, a related party, through the issuance of shares and has decided to allocate Rs 1,000 crore for the proposed buyback.
PVR has opened a 4-screen property in Narsipatnam Andhra Pradesh.
Aster DM Healthcare
The company’s subsidiary Malabar Institute of Medical Sciences has signed a lease agreement for the greenfield hospital project in Kasaragod district of Kerala. The initial investment of about Rs 140 crore is estimated for the new facility.
The company has commenced commercial production at its Murli Plant in Chandrapur, Maharashtra.
The paper company has started commercial production from the new packaging board plant in Gujarat.