Q4 RESULTS

Exim Bank’s profit jumps 62% to `2,518 cr

Mumbai: Export-Import Bank of India on Monday reported 62 per cent jump in FY24 net profit at Rs 2,518 crore, primarily helped by a sharp improvement in the asset quality.

In FY23, profit stood at Rs 1,556 crore. Amid souring of ties with the Maldives, Exim Bank said it has disbursed USD 450 million to the island nation, and the entire exposure is performing well, a senior official said. The bank’s overall loan book grew 17 per cent during the fiscal year and it is aiming for at least 10-12 per cent growth in FY25, managing director Harsha Bangari told reporters here. When asked for the reasons for the lower growth aim for FY25, she said the bank had a similar target for FY24 as well but the asset growth came in higher than expectations.

Varun Beverages PAT rises 25% to ` 547.98 cr

New Delhi: Varun Beverages Ltd, a franchise partner of PepsiCo, on Monday reported a 25 per cent rise in consolidated profit after tax at Rs 547.98 crore in the first quarter ended March 2024. The company, which follows a calendar year (January-December) of reporting, had posted consolidated profit after tax (PAT) of Rs 438.57 crore in the same quarter last year, Varun Beverages said in a regulatory filing.

Consolidated revenue from operations in the first quarter stood at Rs 4,397.98 crore as against Rs 3,952.59 crore in the year-ago period, it added.

Emirates sees $4.7 bn profit in 2023

Dubai: The long-haul carrier Emirates announced Monday it saw record profits of $4.7 billion in 2023 as the airline fully took flight after the turbulent years of the coronavirus pandemic disrupted its operations. Emirates, owned by Dubai’s government, announced revenues of $33 billion, compared to $29.3 billion the year before. Profit the year prior had been $2.9 billion. The airline carried 51.9 million passengers in its 2023 financial year, as compared to 43.6 million the year prior. “Throughout the year, we saw high demand for air transport and travel related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results,” Sheikh Ahmed bin Saeed Al Maktoum, the chairman and CEO of Emirates said in a statement.

Zomato posts consolidated net profit at ` 175 cr

New Delhi: Online food delivery firm Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue. The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing. Consolidated revenue from operations stood at Rs 3,562 crore. It was Rs 2,056 crore in the year-ago period, it added. Total expenses were at Rs 3,636 crore. The company posted its total expenses at Rs 2,431 crore in the corresponding period a year ago, it said. For the fiscal ended on March 31, 2024, the consolidated net profit was Rs 351 crore. It had posted a consolidated net loss of Rs 971 crore in the previous fiscal ended on March 31, 2023, the filing said.