On July 18, watch HeidelbergCement India, Nelco, Bank of Maharashtra, Alok Industries, Ganesh Housing Corporation, Onward Technologies, Sudal Industries, and Tanfac Industries.
Its standalone profit grew 19% year-on-year to Rs 9,196 crore for the quarter ended June 2022, due in large part to a decrease in provisions for bad loans.
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Loans and deposits both increased by 22.5 percent, driving net interest income growth. To Rs 15,367.8 crore, pre-provision operating profit increased by 14.7%.
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In Q1FY23, adjusted profits declined 23 percent despite lower operating profits. Q1FY23 net debt was reduced by Rs 1,149 crore from JPL's divestment.
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Revenues increased 26 percent YoY to Rs 14,738 crore. One-off forex gains of Rs 446 crore.
MedPlus Insurance Brokers is the company's wholly-owned subsidiary. All kinds of guarantee and indemnity business will be conducted through the subsidiary.