Third quarter net profits for Bajaj Finance rose 33 percent to Rs 258.4 crore while revenues jumped 38 percent to Rs 1,476.5 crore. Shares surged over 15 percent following the earnings declaration. CEO Rajeev Jain said the company was increasing its focus on rural lending.
As CNBC-TV18 celebrates its 15 years of leadership in the business space, it sits down with a business leader whose organization has seen a similar stellar run over the same period. In an interaction, CNBC-TV18's Shereen Bhan spoke with Chanda Kochhar, MD and CEO of ICICI Bank, who talks about its journey and the outlook ahead.
IFCI posted its December quarter earnings Monday with revenues climbing to Rs 790.64 crore from Rs 638.43 crore in the same quarter last year while net profit jumped from Rs 76.31 crore to Rs 142.39 crore.
Towards the end of a financial year seasoned bank chairmen are believed to apply some shrewd tricks of business. This in turn, helps them achieve RBI projected loan and deposit growth at the drop of a hat in the last seven days before book closures. Call it window dressing or whatever, this is the traditional practice.