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Maruti Suzuki net profit rises 47.8%

New Delhi: The country’s largest car maker Maruti Suzuki India on Friday reported a 47.8 per cent rise in net profit for the March quarter of FY24 to Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices. The auto major had reported a net profit of Rs 2,623.6 crore in the year-ago period, Maruti Suzuki India said in a regulatory filing. “For the first time, the company surpassed annual total sales milestone of 2 million units in FY24.

Bank of Maharashtra profit jumps 45%

New Delhi: State-owned Bank of Maharashtra (BoM) on Friday reported a 45 per cent jump in its net profit to Rs 1,218 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The Pune-based lender had earned a net profit of Rs 840 crore in the year-ago period. During the quarter, the bank’s total income increased to Rs 6,488 crore as against Rs 5,317 crore a year ago, BoM said in a regulatory filing. Interest income grew to Rs 5,467 crore during the period under review, from Rs 4,495 crore in the corresponding quarter a year ago.

SBI Life Q4 profit rises 4% to Rs 811 cr

New Delhi: SBI Life Insurance on Friday reported 4 per cent rise in net profit at Rs 811 crore for the fourth quarter ended March 2024 as value of new business grew modestly.

The life insurer had posted a net profit of Rs 777 crore in the year-ago quarter. Total income during January-March FY24 rose to Rs 37,567 crore from Rs 22,805 crore in the same period of FY23, SBI Life said in a regulatory filing. Net premium income in Q4FY24 stood at Rs 25,116 crore as against Rs 19,897 crore in the year-ago period.

Motilal Oswal reports multifold jump in profit

New Delhi: Motilal Oswal Financial Services Ltd on Friday reported an over four-fold jump in profit after tax to Rs 724.6 crore for the March 2024 quarter, driven by strong growth in the capital market as well as wealth & asset management businesses. In comparison, the company had a profit after tax (PAT) of Rs 167 crore in the year-ago period, Motilal Oswal Financial Services said in a regulatory filing. The company’s total income rose to Rs 2,158.15 crore in the January-March quarter of the financial year (FY) 2023-24 from Rs 1,033.54 crore in the same quarter preceding fiscal. Reacting to the positive development, shares of the company rose as much as 8.66 per cent to a 52-week high of Rs 2,677 apiece on the BSE.

Mphasis posts 3% decline in net profit

New Delhi: IT company Mphasis posted a 2.98 per cent decline in consolidated net profit to Rs 393.2 crore in the March quarter of FY24. The company posted a net profit of Rs 405.3 crore in the same period a year ago. The consolidated revenue from operations of Mphasis Group, however, increased marginally to Rs 3,142 crore during the fourth quarter of the previous fiscal from Rs 3,361.2 crore a year ago, the company said in a regulatory filing. During the reporting quarter, Mphasis registered new TCV (total contract value) wins of $177 million (about Rs 1,475 crore). w

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