HUL net rises 9% on rural sales

FMCG firm cautiously optimistic about demand; declares ₹14 interim dividend Fast Moving Consumer Goods (FMCG) major Hindustan Unilever Ltd. (HUL) reported a 9% increase in second-quarter net profit to ₹2,009 crore, aided by a robust performance in rural markets while demand in urban areas, especially in metropolitan cities, remained muted. Sales climbed 16% to ₹11,276 […]

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HDFC Bank Q2 profit rises 18.4% to ₹7,513 crore

Total advances increased 15.8% to ₹10,38,335 crore, while gross non-performing assets were at 1.08% of gross advances HDFC Bank Ltd. reported second-quarter net profit jumped 18.4% to ₹7,513.1 crore, from ₹6,354 crore a year earlier, helped by healthy growth in loans and a narrowing of NPAs. The private lender’s net revenue (net interest income plus […]

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‘Theatres likelier choice for new releases than OTT’

Both will coexist: BookMyShow COO With theatres across the country opening up from Thursday, Ashish Saksena, COO — Cinemas at BookMyShow, said he expected producers and audience to prefer theatres for new movie releases over OTT players such as Amazon Prime and Netflix. He, however, added that both platforms would continue to coexist. “I don’t […]

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Office space absorption rises 64% QoQ, says JLL

Delhi, Mumbai, Pune markets contract The office market in India witnessed a net absorption of 5.4 million sq. ft. in the quarter ended September, an increase of 64% compared with the quarter ended June, according to estimates by JLL. The rebound in growth was led by Bengaluru and Hyderabad, which together accounted for almost 80% […]

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‘Privatise select PSU banks’

Wind down Department of Financial Services, says Rajan Former RBI Governor Raghuram Rajan on Monday suggested that the government should privatise select public sector banks, set up a bad bank to deal with NPAs and dilute the Department of Financial Services’ role. The reforms are necessary to ensure growth of banking activity without the periodic […]

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