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By Express News Service
NEW DELHI: Private Sector Lender Yes The Bank announced Thursday a 30.5% jump in net income in the first quarter of this year, despite higher provisioning. high. According to the financial data published by the bank, net profit amounted to Rs 1260.3 crore compared to Rs 965.52 crore for the same period last year. While the provisioning of bad loans almost doubled to Rs 625.65 crores during the quarter against Rs 285.78 crore, the strong growth of its core business overshadowed the effects of a slight rise in non-performing badets ( NPA).
Gross nonperforming badets It reached 1.31 percent of advances compared to 0.97 percent last year, while the net figures of the NPAs were 0.59 percent, compared with 0.39 percent for the previous year. hundred. The main driver of its profitability, Yes Bank reported 22.7 percent growth in net interest income at Rs 2,219.1 crore while non-interest income jumped 49.6 percent Rs 1,694.1 crore. "Growth has been well segmented … especially the retail trade which has grown 105 percent from one year to the next by taking the proportion of retail banks in total advances to 14 percent. The exponential growth of retail trade is also expected to increase the granularity of the bank's badets and liabilities over the coming quarters, "said Rana Kapoor, CEO of Yes Bank
. He added that the adequacy of the total capital of the bank rose to 17.3 percent with a total capital of 46 983.7 million rupees.
Maruti Suzuki New Delhi: Maruti Suzuki India Ltd. (MSIL), India's largest automaker, recorded a 26.91% increase in its self-sustaining net profit, with a figure of Business of EUR 1,975.3 million for the first quarter of 2005. FY19. According to company officials, solid sales during the quarter boosted growth and profitability, with a total business turnover of 21,810.7 million euros during the period against 19,374.1 million last year. In terms of units, MSIL sold 4.90.479 vehicles compared with 3.94.571 units a year ago, with total sales up 24.3% and domestic sales up 25.9% to 4 , 63,840 units against 3,68,431 a year ago. . In contrast, industry growth was established at 19.9% during the period. However, the rise in commodity prices has affected the profitability of the company, the financial director of MSIL, Ajay Seth, telling badysts that since the last quarter of the previous fiscal year, commodity prices have increased, especially steel. Unfavorable currency trends could also be a cause for concern, with Seth stating that it would be important to note how this will happen in the next three quarters.
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