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HDFC Bank reports 30% rise in Q3 consolidated net profit
18 Jan 15:46

HDFC Bank has reported results for third quarter ended December 31, 2019.The bank has reported 32.77% rise in its net profit at Rs 7416.48 crore for the quarter under review as compared to Rs 5585.85 crore for the same quarter in the previous year. Total income of the bank increased by 16.97% at Rs 36039.00 crore for Q3FY20 as compared Rs 30811.27 crore for the corresponding quarter previous year.On the consolidated basis, the bank has reported a rise of 29.88% in its net profit at Rs 7659.96 crore for the quarter under review as compared to Rs 5897.87 crore for the same quarter in the previous year. Total income of the bank increased by 17.12% at Rs 38325.70 crore for Q3FY20 as compared Rs 32722.77 crore for the corresponding quarter previous year.

L&T Technology Services reports 11% rise in Q3 consolidated net profit
18 Jan 14:55

L&T Technology Services has reported results for third quarter ended December 31, 2019.The company has reported 9.74% rise in its net profit at Rs 198.30 crore for the quarter under review as compared to Rs 180.70 crore for the same quarter in the previous year. Total income of the company increased by 8.91% at Rs 1362.70 crore for Q3FY20 as compared Rs 1251.20 crore for the corresponding quarter previous year.On the consolidated basis, the company has reported a rise of 10.59% in its net profit at Rs 205.80 crore for the quarter under review as compared to Rs 186.10 crore for the same quarter in the previous year. Total income of the company increased by 8.46% at Rs 1467.20 crore for Q3FY20 as compared Rs 1352.80 crore for the corresponding quarter previous year.

GMR Infrastructure’s arm signs concession agreement with KIAL
18 Jan 14:02

GMR Infrastructure’s subsidiary -- GMR Airports (GAL) has signed concession agreement with Kannur International Airport (KIAL) to develop, operate, maintain and manage the Duty-Free outlets at Kannur International Airport on an exclusive basis.Under the concession agreement, the company would design, finance and operate the DutyFree shops at Kannur International Airport for a period of 7 years, which is extendable by 3 more years. This is the first Duty Free concession outside GMR’s airport portfolio.GMR Infrastructure is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.

L&T Finance Holding’s consolidated net profit rise marginally in Q3
18 Jan 12:53

L&T Finance Holding has reported results for third quarter ended December 31, 2019.The company has reported a net loss of Rs 25.43 crore for the quarter under review against net loss of Rs 4.24 crore for the same quarter in the previous year. Total income of the company decreased by 31.35% at Rs 42.94 crore for Q3FY20 as compared Rs 62.55 crore for the corresponding quarter previous year.On the consolidated basis, the company has reported a rise of 1.81% in its net profit at Rs 591.47 crore for the quarter under review as compared to Rs 580.96 crore for the same quarter in the previous year. Total income of the company increased by 8.44% at Rs 3,735.79 crore for Q3FY20 as compared Rs 3,445.00 crore for the corresponding quarter previous year.

PFC raises $750 million via overseas bonds
18 Jan 12:24

Power Finance Corporation (PFC) has raised $750 million through issuance of overseas bonds to fund business expansion plans. The bonds have a fixed coupon of 3.95 per cent p.a. and a yield of 4.066 per cent. With this offering, the company becomes the first Indian public sector company to issue senior unsecured $bonds with a tenure of more than 10 years.The proceeds from bonds will be utilised in accordance with the external commercial borrowing regulations of the Reserve Bank of India including for on lending to power sector utilities.PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.

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