Financial services firm JM Financial on Friday reported a 12.3 per cent fall in net income at Rs 190.2 crore for the quarter ended December 2022. Even though the company said its loan book rose 35.5 per cent to Rs 15,234 crore during the quarter, its income growth declined 1.9 per cent to Rs 946.1 crore. The company did not offer an explanation for the decline in its profit but said the quarterly net profit includes Rs 56.8 crore from IPO financing activity. It has seen all-round improvement in asset quality with gross NPAs falling steeply to 3.60 per cent from 4.39 per cent and the net NPAs also falling to 2.23 per cent from 2.76 per cent. SMA-2 or special mention accounts which remain stressed for 60-90 days also more than halved to 1.07 per cent from 2.50 per cent on an annualised basis. Similarly, total provision to the total loan book declined to 4.11 per cent from 6.96 per cent and the loan book under Covid resolution framework declined to 0.35 per cent from 0.91 per cent.
The Noida International Airport (NIA) has selected Air India SATS (AISATS), a leading organisation in the cargo and logistics sector, to develop a multi-modal cargo hub (MMCH) at the upcoming airport, an official statement said on Friday. Spanning across 80 acres of land, the upcoming cargo hub will provide quick, convenient and intermodal connectivity to and from manufacturing hubs in the country, it said. The cargo and logistics infrastructure and ecosystem will cater to a differentiated catchment and several upcoming industrial clusters in NCR and Uttar Pradesh, creating a cargo gateway for Northern India, the statement added. We are convinced that our novel approach to plan and develop a multi-modal cargo hub with integrated facilities and seamless processes will support the cargo and logistics industry in North India. The Noida International Airport cargo hub will help Western Uttar Pradesh and the NCR fully develop its cargo and logistics potential, Noida International Airport
Kerala Chief Minister Pinarayi Vijayan on Friday lavished praise on Indian Space Research Organisation (ISRO) for its successful SSLV-D2/EOS-07 mission and termed it as a " huge milestone". In a tweet, the Chief Minister hailed ISRO's hardwork and dedication as "truly inspiring". "Congratulations to @isro on the successful SSLV-D2/EOS-07 Mission! A huge milestone as SSLV-D2 flawlessly has placed EOS-07, Janus-1, and AzaadiSAT-2 into their intended orbits. Your hard work and dedication are truly inspiring! #SSLV #EOS07 #Janus1 #AzaadiSAT2," he tweeted. ISRO on Friday tasted maiden success in the small satellite launch vehicle (SSLV) segment, with its SSLV D2 rocket injecting three satellites into an intended circular orbit, months after the maiden mission failed to bring in the desired results. Buoyed by today's success, the premier agency said the launch has "set the tone" for its activities this year, dotted with a number of proposed PSLV and GSLV missions, among others. The payl
In the press statement on Instagram, Ekta Kapoor called the decision "strategic" and said the company has appointed Vivek Koka as the new Chief Business Officer of ALTBalaji
