Month: March 2021

Mudra loans tide over Covid-19 blues

Banking & Finance

[ad_1]

Read More/Less


The disbursal of small business loans under Pradhan Mantri Mudra Yojana (PMMY) has almost come out of Covid bluesand may match last fiscal’s figure, going by the current trend.

With one month left for the closure of the current financial year, loans worth ₹2,32,594 crore have been sanctioned as on February 19, 2021, of which, ₹2,19,107 crore has already been disbursed.

In the previous fiscal, total sanctioned loans under Mudra, as on February 20, 2020, stood at ₹2.77-lakh crore.

PMMY is a scheme of the Centre to provide loans of up to ₹10 lakh to non-corporate, non-farm small/micro enterprises. These loans are classified as Mudra loans under PMMY.

These collateral-free loans come in three categories – Shishu (up to ₹50,000), Kishore (between ₹50,000 and ₹5 lakh) and Tarun (₹10 lakh).

Small business loans sanctioned under the PMMY have exceeded the target set for the financial year ended March 31, 2020, at ₹3,37,495 crore.

“Given the fact that banking operations and business were impacted for a significant period of almost two quarters, the present performance of Mudra loans is certainly beyond initial expectations,” a senior official with Union Bank of India, told Business Line.

Reverse migration

The reasons for the steady demand of Mudra loans are varied. According to a senior SBI official, loss of jobs in urban areas due to pandemic-induced circumstances has resulted in reverse migration to rural- and semi-urban areas. “Some of the people are now setting up small business to make a living and PMJY is facilitating this,” he said.

As part of the economic stimulus package, Atmanirbhar Bharat Abhiyaan, the government had also announced interest subvention scheme for Shishu loans.

Under this scheme, loans are given interest subvention of 2 per cent for 12 months from May 2020, which has made these advances more affordable for petty entrepreneurs, say bankers.

Bankers, however, are tight-lipped over the quantum of Non-Performing Assets (NPAs) under Mudra loans in the current financial year. The clear picture on bad loanswill only emerge only after the closure of the current financial year, they say.

As per government data, NPAs in 2019-20 were at 4.80 per cent of the total loans disbursed.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , ,

SBI lowers home loan rates to 6.70%

Banking & Finance

[ad_1]

Read More/Less


State Bank of India (SBI) has lowered the minimum interest rate at which it will offer home loans from 6.80 per cent to 6.70 per cent for a limited period up to March 31, 2021.

India’s largest bank, in a statement, said its home loan interest rates start at 6.70 per cent for loans up to ₹75 lakh and 6.75 per cent for loans in the range of ₹75 lakh to ₹5 crore.

The lender is continuing with 100 per cent waiver on processing fees.

The bank said, overall, it is offering concession of up to 70 basis points based on loan amount and credit score. This also includes concession of 5 basis points each for women borrowers and digital sourcing through the YONO app.

Saloni Narayan, Deputy Managing Director (Retail Business), SBI, said, the reduced interest rates are one of the best in home loans.

Last month, the bank said it expects to double its home loan portfolio in the next five years to ₹10 lakh crore on the back of higher economic growth and growing preference of the new generation to buy a home early.

India’s largest bank took about 10 years to grow its home loan portfolio from ₹89,000 crore in FY11 to touch the ₹5-lakh crore mark now, according to Chairman Dinesh Kumar Khara.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

Top 10 Banks Offering The Cheapest Rates On Car Loans

Personal Finance

[ad_1]

Read More/Less


6 Things To Consider Before Taking A Car Loan

If you want to get a car loan, you must take considerable time reviewing some facts and planning a series of concerns before picking a car model and visiting a dealer to drive your favourite car. Having wise financial considerations is still a smart thing. When you study to find the best car loan alternative with the best rate and lowest processing charge, it makes you a smart investor. Let’s take a look at the six things you must care about before taking out a car loan.

1. It is always a smart idea to spend about 20% of the car’s price out of pocket to get the remainder financed by the bank. Many banks, on the other hand, provide loans up to 100% of the car’s ex-showroom value. Investors must strive to stick to the 20% statute, which specifies that they must not take a loan that would require more than 20% that may place a burden on their personal finance by increasing their monthly EMI payment.

2. Particularly even if the interest rate is low some lending institutions owe investors with plenty of hidden costs such as processing, paperwork, prepayment, foreclosure, late payment charges and so on. These charges make the net price charged for the vehicle higher. Using the car loan EMI calculator, the applicant can measure the cumulative amount he will have to pay over the duration. To get the best interest rate and save money on your overall car loan, you must weigh a number of considerations such as the principal amount and tenure for the loan.

3. Investors must be mindful that their car loan will be with them for a long time, and they will need to pay an EMI on a regular basis for several years. The key is to plan ahead financially. In order to maintain the tenure on the low end and gain on interest, applicants must not commit to the higher EMI amount. Picking the longest term since this would raise the amount of interest due on the loan must also be avoided by investors.

4. An investor will pay a range of charges and fees on a car loan in addition to the interest. Always check about the charges and fees involved with the loan while applying for the loan. Loan processing fees, documentation fees, credit report fees, registration card collection fees, stamp duty, foreclosure fees, late payment fees, loan cancellation fees, swap and bounce fees are some of the basic charges that investors must take into their consideration. Hence, it is suggested that before considering a lender, compare the additional fees and costs of different banks.

5. When an investor tries to pay off his loans before the term expires, several banks impose prepayment fees, foreclosure fees, and other fees. In such cases, you must always prefer a bank that costs you the least amount of charges. Banks who charge reduced to no foreclosure fees should be granted priority.

6. An individual must have a range of documents to indicate to the bank that he or she has the capital backing to repay the loan. Despite the fact that the applicant’s credit score reveals his financial health, banks need further confirmation and proof from the investor that he is financially stable enough to pay off his loans without strain. An individual who has all the KYC documents on hand while applying for a loan will have his loan accepted in a matter of minutes.

Eligibility criteria to apply for a car loan

Eligibility criteria to apply for a car loan

Different banks may have different eligibility criteria for car loans. Below are some of the most important criteria:

  • The applicant must fall between the age limit of 18 to 75 years
  • He or she should have a minimum income of Rs 20,000
  • He or she must have been employed with the same employer for at least one year.
  • He or she must be a salaried or self-employed individual

Documents required to apply for a car loan

Documents required to apply for a car loan

You’ll need to provide some paperwork to prove your eligibility. Though each lender will have its own set of documents, the following are the basic ones:

  • Identity proof: PAN, Passport, Aadhaar, Driving license, Voter ID Card
  • Residence proof: Passport. Aadhaar, Utility bills, Ration Card
  • Income Proof: Salary slips of the last 3 months, Form 16, Latest IT Returns, Bank statement for the last 6 months

Taxation on car loans

Taxation on car loans

If you took out a car loan to buy an electric vehicle (EV), you will now get an Rs.1.5 lakh tax relief on the interest you pay. Finance Minister Nirmala Sitharaman declared this in the most recent Union Budget (2019-20), and it is part of the government’s initiatives to enhance the implementation of environmentally sustainable automation. If you buy an electric car, you will be liable for a gain of about Rs.2.5 lakh over the duration of the loan. In comparison, the government has reduced the tax limit on electric cars from 12 per cent to 5%. Cars are considered expensive goods, but individuals who take out a vehicle or auto loan to buy one are not eligible for a tax exemption. Self-employed persons who take out car loans for commercial vehicles are liable for a tax exemption under section 80C of the IT act.

Car Loan Interest Rates

Car Loan Interest Rates

With car loan interest rates as low as 7.1 per cent, now is a perfect opportunity to purchase a car if you’ve been thinking about it, particularly with the latest low-interest rates. Public sector banks in India are now providing the cheapest rates on car loans. Over several months, state-owned Punjab & Sind Bank has provided the lowest interest rates, at 7.1 per cent, led by the Central Bank of India at 7.25 per cent for a loan amount of Rs 10 lakhs with a 7-year term. Banks are classified in increasing order by interest rate, the bank with the cheapest rate on a car loan mentioned at the top and the bank with the highest interest rate at the end. The table displays the lowest interest rate given by banks on a loan of Rs 10 lakh. The interest rate shown in the table is an estimate that can differ based on the terms and conditions of the banks.

Sr No. Banks ROI in % per annum
1 Punjab & Sind Bank 7.1
2 Central Bank of India 7.25
3 Canara Bank 7.3
4 Punjab National Bank 7.3
5 Bank of Baroda 7.35
6 Union Bank of India 7.4
7 Bank of India 7.45
8 Bank of Maharashtra 7.5
9 IDBI Bank 7.5
10 Indian Overseas Bank 7.55



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Transactions via UPI, IMPS register marginal decline in Feb

Banking & Finance

[ad_1]

Read More/Less


Digital payments modes such as Unified Payments Interface, IMPS and AePS registered a marginal decline in February, but continued at robust levels.

BHIM UPI clocked 229 crore transactions worth ₹4.25-lakh crore in February this year, according to data released by the National Payments Corporation of India on Monday. In contrast, 230 crore transactions, worth ₹4.31-lakh crore, were processed through UPI in January 2021.

February 2021 was the first month that registered a drop in the volume and value of transactions on the UPI and IMPS platform since April 2020.

Transactions on the Immediate Payment Service (IMPS) also fell to 31.87 crore in February, amounting to ₹2.75-lakh crore. In January, 34.65 crore transactions, worth ₹2.88-lakh crore, were processed through IMPS.

Similarly, transactions on Aadhaar-enabled Payment System (AePS) declined to 6.66 crore in February from 7.88 crore in January. In terms of value, payments amounting to ₹18,661.65 crore took place through AePS last month, compared to ₹21,978.57 crore in January this year.

However, transactions on NETC FASTags and Bharat BillPay continued to surge.

FASTag transactions

In February, 15.89 crore transactions, amounting to ₹2,556.34 crore, took place through FASTags, which is the highest ever. In January, 14.85 crore transactions worth ₹2,397.84 crore were transacted through FASTags.

“In an attempt to create a cashless network of contactless toll collection not only on highways, but also in parking lots, NETC FASTag has achieved the greatest heights in acceptance,” said NPCI in a tweet.

The government has made FASTag mandatory for all vehicles from February 15 and the volumes are expected to surge further.

Bharat BillPay processed 2.82 crore payments of ₹4,222.37 crore in February against 2.72 crore transactions worth ₹4,051.92 crore in January 2021

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Banks to wrench credit market share away from non-banks: Crisil

Banking & Finance

[ad_1]

Read More/Less


Bank credit is seen growing 400-500 basis points (bps) higher at 9-10 per cent next fiscal as the Indian economy recovers, supported by budgetary stimulants and measures announced by the Reserve Bank of India (RBI), according to Crisil Ratings.

This assessment comes in the backdrop of the credit rating agency already raising India’s GDP growth forecast for next fiscal to 11 per cent, or 100 bps higher than what was presaged in December 2020. One basis point is equal to one-hundredth of a percentage point.

Overall, sharp economic recovery, along with pick-up in private investment and capex (capital expenditure) demand, drive Crisil’s expectation of buoyant credit growth next fiscal.

Risks

A sub-normal monsoon and another surge in Covid-19 cases leading to localised or partial lockdowns pose downside risks.

In the current fiscal, Crisil sees bank credit rising 4-5 per cent despite the sharpest contraction the Indian economy has seen since Independence. In June 2020, Crisil Ratings had expected bank credit growth in this fiscal to be 0-1 per cent.

Krishnan Sitaraman, Senior Director, Crisil Ratings, said: “While bank credit growth had contracted 0.8 per cent in the first half of this fiscal, it recovered sharply in the third quarter by growing about 3 per cent sequentially.

“In the fourth quarter, too, it should clock about 3 per cent sequential growth. Government measures, including the ₹3-lakh crore emergency credit line guarantee scheme (ECLGS), have been supportive.”

Crisil observed that in the first half of this fiscal, the Covid-19 pandemic forced both borrowers and lenders to tread cautiously, leading to contraction in bank credit. But a faster-than-expected uptick in economic activity since relaxation of lockdowns, and pent-up and festive season demand, helped thereafter.

In absolute terms, net credit increased about ₹2.3-lakh crore in the first nine months of this fiscal. Interestingly, disbursements under ECLGS in this period was ₹1.6-lakh crore, the agency said.

Additionally, about ₹1.4-lakh crore was deployed by banks via the targeted long-term repo operation (TLTRO) and partial credit guarantee (PCG) scheme, which served as credit substitutes. Factoring this in, fiscal-to-date credit growth would be higher by 130 bps.

Growth rate will vary

The agency expects corporate credit (49 per cent of overall bank credit) growth to contract this fiscal given that companies have put capex (capital expenditure) on the backburner. Sizeable incremental funding through the investment book – because of the availability of low-cost funds under TLTRO and PCG – has also applied downward pressure.

“That should change next fiscal, when corporate credit is expected to grow 5-6 per cent led by the government’s infrastructure push and a likely revival in demand.

“But the share of corporate loans in the overall credit pie would continue to shrink because of faster growth of other segments,” Crisil said.

Retail lending, a major driver of bank credit in the past, is expected to slow down to 9-10 per cent this fiscal before returning to the mid-teens growth of the past couple of years, it added.

Subha Sri Narayanan, Director, Crisil Ratings, said: “Banks are expected to benefit from lower competition, as non-banks, grappling with multiple challenges, see tepid growth.

“With deposit growth outstripping credit growth so far, banks would use the surplus liquidity to wrench credit market share away from some of the largest catchments of non-banks such as mortgages and new vehicle finance. Even this fiscal, more than half of the incremental retail credit growth till date has been from mortgages.”

The agency noted that lending to micro, small and medium enterprises (MSME) has been one of the fastest-growing areas for banks this fiscal, supported by ECLGS.

The RBI’s decision to again exempt banks from the cash reserve ratio requirement for incremental credit to this segment – as was done last fiscal – should also increase the supply of credit to MSMEs.

Overall growth in credit to MSMEs is expected to be 9-10 per cent this fiscal and 8-9 per cent next, given that the salutary effect of the ECLGS may not be available next fiscal.

Crisil said agriculture credit has also contributed, with rural India seeing lower impact of the pandemic and a good harvest. Credit growth here is foreseen at 6-7 per cent in both, this fiscal and next. The monsoon, though, will be a monitorable.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

HDFC Bank faces intermittent problems in mobile, net banking

Banking & Finance

[ad_1]

Read More/Less


Some customers of private sector lender HDFC Bank faced intermittent issues in Internet and mobile banking on Monday.

Customers took to social media to complain about the issue, which coincided with the beginning of the month.

Also read: HDFC Securities says it blocked NSE cash trading due to tech glitch

On Twitter, customers said they were unable to use net banking and mobile banking facilities as well as carry out payments.

The problem was however, not widespread.

On being contacted, HDFC Bank said the issue has now been resolved. “There were intermittent issues in accessing Net Banking / Mobile Banking, faced by some of our customers. The issue stands resolved. We apologise for any inconvenience caused to some of our customers.”

The cause of the technical glitch could however, not be ascertained.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

SGB Twelfth Tranche Opens For Investment: Should You Invest?

Personal Finance

[ad_1]

Read More/Less


Investment

oi-Roshni Agarwal

|

Major institutions such as SBI of late have been advocating the subscription to SGB or sovereign gold bonds. These SGBs came into presence as the centre wanted to reduce household’s allocation to physical gold and channelize the amount to gold in investment forms. And there is no doubt that analysts and experts have been recommending subscribing to gold in this form.

Now, SGB Tranche 12th for the fiscal year 2020-21 has opened for subscription. Here we tell you given the issue price of Rs. 4662 per gm. Note here those investing through online payment can get Rs. 50 as discount.

SGB Twelfth Tranche Opens For Investment: Should You Invest?

SGB Twelfth Tranche Opens For Investment: Should You Invest?

Current gold prices:

In the spot market, gold prices are trading at Rs. 45940 per 10 gm (without GST). So, considering that the subscription rate is higher for SGBs.

On the MCX also, gold futures for April too last traded below Rs. 46000 per 10 gm.

Trend in gold prices currently

Globally as well as in India, treasury yield has climbed to a 1-year high on inflationary concerns as liquidity worldwide is paramount. This rise in yield makes bullion less appealing. Hence gold prices are facing pressure. Nonetheless, what is keeping a check on the huge loss or correction in gold prices is the softer dollar and lately the passage of the US economic aid.

So, precisely in the short to medium term, gold prices will move basis the movement of dollar, treasury yield and the pace at which economy recovers. Any economic recovery, uplifts the investor sentiment and money flows into riskier assets.

What should investors do?

For those who do not have the suggested 10-15% allocation, they can still invest in the yellow metal in a staggered way. This is because the long term outlook for gold is bullish only. And currently, if the portfolio has already the suggested allocation they can look out for other viable and higher yielding option such as in equities at a time when the economy is seeing resilience with the third quarter GDP data coming in better.

But, investors shall be better off still timing their investment, as gold in the near to medium term is expected to correct more, so price-wise the decided issue price for SGB twelfth tranches shall not be the good entry point. But for minor allocation, disregarding few hundreds you can always go for investing in the precious yellow metal that always payso-off in uncertainties on its quality of being the safest safe-haven and also is able to beat inflation.

“Investment in paper gold is the best and the most effective way of investing in the yellow metal. Gold should have an allocation of 5-20 per cent of any portfolio depending on the risk appetite,” suggests Nish Bhatt, founder & chief executive officer at Millwood Kane International, an investment consulting firm.

Other good enough reasons to consider investment in SGBs

Interest rate at the rate of 2.5% percent payable semi-annual

No capital gains tax on redemption at maturity i.e. after 8 years

No storage cost

No other hassles such as safety concern, issue of theft etc.

GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Riskier currencies recover from Friday carnage; dollar consolidates

Banking & Finance

[ad_1]

Read More/Less


The Australian dollar and other riskier currencies recovered some lost ground against the US dollar on Monday, after suffering their biggest plunges in a year at the end of last week amid a hefty sell-off in global bond markets. The greenback weakened broadly early in Asia trade, but barely enough to trim its biggest surge since June from Friday.

Currency markets have taken cues from the global bond market, where yields have surged in anticipation of an accelerated economic recovery. The aggressive bond selling implies a bet that global central bankers will need to tighten policy much earlier than they have so far been forecasting. Equities and commodities have also sold off as the debt rout unsettles investors.

Also read: Asian stocks surge, battered bond market tries to steady

“USD direction is likely to hinge on not only the direction, but also the pace, of global bond moves,” Commonwealth Bank of Australia strategists wrote in a research note. Bond moves are trumping economic data as the driver of foreign-exchange markets, with yields moving “well in advance” of economic fundamentals, they said. “The risk is tilted to a firmer USD this week because we doubt central banks will intervene in any meaningful way yet.”

The Aussie dollar jumped 0.6 per cent to $0.7754 early in the Asian session on Monday, following a 2.1 per cent plunge on Friday. The New Zealand dollar strengthened 0.6 per cent to $0.7270, recovering some of Friday’s 1.9 per cent slide. The euro gained 0.2 per cent to $1.20910, after dropping 0.9 per cent at the end of last week, the most since April. The dollar slipped 0.1 per cent to 106.415 yen, but still near the six-month high of 106.69 touched on Friday.

Federal Reserve Chair Jerome Powell, who last week repeated the US central bank will look through any near-term inflation spike and tighten policy only when the economy is clearly improving, will speak on the economy this Friday, the same day as the usually closely-watched monthly payrolls data is due. The Reserve Bank of Australia will hold its monthly policy meeting on Tuesday, and markets are widely expecting it to reinforce its forward guidance for three more years of near-zero rates, while also addressing the market dislocation.

Currency bid prices at 050 GMT

Description RIC Last US Close Pct Change YTD Pct High

Bid Low Bid Previous Change Session Euro/Dollar

$1.2095 $1.2070 +0.22% -1.00% +1.2102 +1.2070

Dollar/Yen 106.4420 106.5700 -0.15% +3.02% +106.5670 +106.4000

Euro/Yen 128.74 128.60 +0.11% +1.43% +128.8000 +128.6000

Dollar/Swiss 0.9075 0.9086 -0.13% +2.57% +0.9086 +0.9060

Sterling/Dollar 1.3983 1.3923 +0.45% +2.37% +1.3990 +1.3931

Dollar/Canadian 1.2693 1.2740 -0.35% -0.31% +1.2732 +1.2690

Aussie/Dollar 0.7747 0.7799 -0.64% +0.73% +0.7757 +0.7706

NZ 0.7271 0.7231 +0.57% +1.27% +0.7280 +0.7234

Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

HDFC Sec blocks trading in NSE cash for limited period; bourse says ops normal

Banking & Finance

[ad_1]

Read More/Less


Domestic brokerage HDFC Securities blocked trading in NSE’s cash segment for its clients for a limited period due to a “technical glitch”.

NSE, which had suffered a nearly four-hour trading halt last week due to telecom connectivity issues, said all operations across its platforms were “functioning smooth and normal”.

Also read: NSE, BSE say they are operating fine

At 1001 hrs, HDFC Securities tweeted from its official handle, saying, “We have blocked trading in NSE cash due to a technical glitch. We request our customers to place cash orders on BSE. All other segments are working fine.” Within 15 minutes, which saw a quick clarification from the NSE about its operations being normal, the domestic brokerage put out another tweet asking customers to place orders through the NSE cash segment.

NSE’s smaller rival BSE said there are no issues on fresh orders or square-offs at Asia’s oldest bourse.

BSE’s chief executive Ashishkumar Chauhan clarified that the statement was in response to brokers and investors reporting problems on Twitter on a “competing exchange” in the morning.

He added that no one has reported any problems in trading at the BSE either on Monday or any day last week.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

Banks stare at huge telco debt as telecom auction starts, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


The much-awaited telecom spectrum auction that starts today is likely to balloon the already bloated debt of telecom companies.

Telecom companies, already saddled with huge debts and pending government dues payments, have raised or are in the process of raising funds ahead of the auction.

The auction

The government proposes to auction around 2,250MHz of the spectrum — worth approximately Rs 3.92 lakh crore at the reserve price — across various bands.

A total of 2251.25 MHz of airwaves, across 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz frequency bands have been put on the block. Many brokerages, however, have predicted that more than 80% of the spectrum would remain unsold, and the government to get less than Rs 50,000 crore.

Analysts say the moderate participation would largely be limited to the renewal of the expiries in the 800 MHz and 1800 MHz bands.

Telco debts

While the telecom companies are enjoying the Covid-led upsurge in business, they still grapple with huge debts.

As of September 2020, Bharti Airtel had about Rs 1.29 lakh crore in debt, and Vi about Rs 1.7 lakh crore in net debt and dues to the government. Analysts reckon that this debt may grow hugely after the spectrum auctions. Only Reliance Jio is debt-free.

Vodafone had gross debt of Rs 1,17,370 crore comprising deferred spectrum payment obligations to the government of Rs 94,200 crore and debt from banks and financial institutions of Rs 23,170 crore.

Bharti Airtel Ltd’s net debt, including lease obligations, rose to Rs 1.18 lakh crore compared with nearly Rs 1.13 lakh crore a year ago, according to its annual report for 2019-20.

The extent

Though most of the firms are heavily indebted they need to borrow for these auctions.

However, the banks would be in a quandary as extending more debts when the telcos are not generating much additional cashflows due to pricing constraint would be tricky.

Even at base price, the telcos need about Rs 1 lakh crore with the rest in installments over the next many years, but that upfront payment amount is also huge. To meet the new payment obligations, telco cashflows need to rise, which is a difficult proposition.

Fundraising

However, telcos have raised funds from the debt market too. Airtel has raised $1.25 billion overseas through senior and perpetual bonds, the largest fundraising by any Indian investment-grade issuer since January 2019. The company has priced $750 million worth of senior 10.25-year bonds at a yield of 187.5 basis points for an implied coupon of 3.250%. Vodafone, on the other hand, is looking to raise Rs 25,000 crore and is in talks for it.

The silver lining

The good thing is telco revenues are rising though the pricing power is yet to return.

Bharti Airtel had posted a net profit of Rs 854 crore for the third quarter ended December 2020, compared to Rs 1,035 crore loss a year ago, on the back of improved realisations and the strong customer addition.

Airtel logged its highest-ever consolidated quarterly revenue of Rs 26,518 crore in Q3 FY21, up 24.2% over the year-ago period.

Debt-ridden Vodafone Idea reported narrowing of consolidated loss to Rs 4,532.1 crore in the third quarter ended on December 31, 2020, mainly on account of a one-time gain from stake sale in Indus Towers.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , ,
1 … 92 93 94 95 96