Net interest income jumped 24 percent year-on-year to Rs 4,469 | Stock Market News🇮🇳

Net interest income jumped 24 percent year-on-year to Rs 4,469 crore for the quarter. There was a nice improvement in the asset quality of the bank as the gross NPA dropped 16 bps QoQ to 1.88 percent and the net NPA fell 8 bps sequentially to 0.60 percent for the quarter.
Ircon International: The company, under its joint venture with Dineshchandra R. Agrawal Infracon (DRA), has received the letter of award for the construction of the Kottavalasa-Koraput doubling project of Waltair division, East Coast Railway, on EPC mode, at a price of Rs 1,198.09 crore.
Patanjali Foods: The FMCG company said the board discussed the initial proposal received from Patanjali Ayurved (PAL) for a sale of PAL's non-food business undertaking to the company and gave in-principle approval for evaluating the most efficient mode of enhancing synergies with PAL's non-food portfolio in any manner on an arm's length basis.
Yes Bank: The bank has reported a massive 123 percent on-year growth in net profit at Rs 452 crore for the quarter ended March FY24, partly supported by higher other income and lower provisions. Net interest income grew by 2.3 percent to Rs 2,153 crore during the same period. The asset quality of the bank has seen significant improvement during the quarter, with the gross NPA falling 30 bps QoQ to 1.7 percent and the net NPA declining 30 bps sequentially to 0.60 percent.
NBCC: The construction company has received in-principle approval for the incorporation of a wholly owned subsidiary in Dubai (UAE). This is subject to the approval of its administrative ministry, i.e., the Ministry of Housing and Urban Affairs (MoHUA).
Indiabulls Real Estate: The real estate firm has posted a net loss of Rs 302 crore for the quarter ended March FY24, narrowing from a loss of Rs 376 crore in the corresponding period of the previous fiscal. Revenue from operations dropped 80.6 percent year over year to Rs 21 crore during the quarter.
SBI Cards and Payment Services: The non-banking finance company registered net profit of Rs 662 crore for the March FY24 quarter, growing 11 percent over the same period in the in the previous fiscal year, driven by strong operating numbers. Revenue from operations for the quarter at Rs 4,348 crore increased by 15.6 percent YoY.