Tag: jumpinprofit

Shares of Airline operator SpiceJet moved higher by 15 percent to Rs 40.75 on the BSE in Friday's intra-day trade after the company’s standalone net profit jumped five-fold to Rs 107 crore in the December quarter (Q3FY23). It posted a profit of Rs 23.28 crore in the year-ago quarter (Q3FY22). The profits have been driven by a strong performance in both, passenger and cargo businesses. The company's revenue from operations jumped 2.4 percent to Rs 2,316.8 crore as against Rs 2,262.6 crore in the year-ago period. In Q2 FY23, the company reported a loss of Rs 833 crore on revenue of Rs 1,954 crore. Earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (Ebitdar) stood at Rs 591 crore against a loss of Rs 387 crore in the previous quarter (Q2FY23). Read more

Housing finance major HDFC on Friday posted a 22 percent jump in its standalone profit after tax to Rs 3,669 crore for the June 2022 quarter, compared with Rs 3,001 crore in the corresponding period a year ago. Sequentially, the profit decreased marginally by 0.8 percent from the profit of Rs 3,700 crore reported in Q4FY22. The consolidated Profit After Tax for the quarter ended June 30, 2022, stood at Rs 5,574 crore. Its net interest income (NII) from April-June 2022 stood at Rs 4,447 crore, about 7.8 percent higher than Rs 4,125 crore a year ago.HDFC vice-chairman Keki Mistry said that the full impact of the lending rate hikes undertaken by HDFC is yet to show on the loan book, which kept net interest income low for the quarter. The management said assets under management (AUM) at the end of the June quarter stood at Rs 6.71 trillion, as against Rs 5.74 trillion at the end of Q1FY22. At the end of the March 2022 quarter, HDFC’s AUM stood at Rs 6.54 trillion. Read more