Tue, Nov 5, 2024 2:56 PM
India's oil prices will stay steady with a range of crude supply options
A Flip by Avya Verma
India Inc's net profit growth slowed to 3.6% in the September quarter, the lowest in 17 quarters, due to sluggish revenue growth and rising interest and depreciation costs. Aggregate net profit for 694 listed companies fell short of expectations, with revenue growth at 8.04%, marking the sixth consecutive quarter of single-digit growth.
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Aptus Value Housing Finance India Ltd. delivered a strong operational performance in Q2 FY25, driven by substantial growth in its asset base and steady improvements in profitability. The company reported a 27% year-on-year increase in assets under management (AUM) to ₹9,679 crore, along with a 22% rise in net profit to ₹182 crore. The net interest income (NII) grew by 23.3% year-on-year.
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The Indian Hotels Company, the country’s leading hospitality firm, has announced its acquisition of a majority stake in Tree of Life’s operating company. This move is set to bolster IHCL’s presence in the experiential leisure segment. Puneet Chhatwal, MD and CEO of IHCL, said the acquisition is in sync with IHCL’s ethos of creating destinations and building and scaling new hospitality formats.
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