Nishit Navin

2 weeks ago | marketscreener.com | Nishit Navin |Siddhi Nayak

Published on 05/21/2025 at 09:00, updated on 05/21/2025 at 09:58 BENGALURU (Reuters) -IndusInd Bank, India's fifth-biggest private lender by assets, reported its biggest-ever quarterly loss on Wednesday and said it suspects some employees had engaged in fraud that led to accounting lapses that weighed on results. The bank, founded in 1994, posted a standalone net loss of 22.36 billion rupees ($261.6 million) for January-March, compared with a profit of 23.47 billion rupees a year earlier.

1 month ago | finance.yahoo.com | Nishit Navin |Siddhi Nayak

By Nishit Navin and Siddhi Nayak (Reuters) -Paytm expects to become profitable from the first quarter of the current fiscal year, it said on Tuesday, after posting a narrower sequential loss excluding a one-time charge. "We are at the verge of PAT (profit after tax) profitability... I'm very sure that in (the) next quarter onwards, if everything goes as we are seeing, it could very well be a profitable quarter," Founder and CEO Vijay Shekhar Sharma said in a post-earnings call.

1 month ago | marketscreener.com | Nishit Navin |Siddhi Nayak |Kashish Tandon

BENGALURU (Reuters) -India's Bank of Baroda expects margin pressure to continue through the second quarter of this fiscal, after a drop in fourth-quarter margins and core lending income sent its shares tumbling over 10% on Tuesday. The company's net interest income, or the difference between interest earned on loans and paid on deposits, fell to 110.20 billion rupees ($1.31 billion) for the quarter ended March 31 from 117.93 billion rupees a year earlier.

1 month ago | marketscreener.com | Siddhi Nayak |Nandan Mandayam |Nishit Navin

(Reuters) -Indian private lender IndusInd Bank said on Tuesday CEO Sumant Kathpalia has resigned with immediate effect, marking a management shakeup following a derivatives accounting lapse that has hit the bank's net worth. Kathpalia is the second top executive to resign in two days after his deputy Arun Khurana exited on Monday. A management transition and a wider reshuffle is expected in the bank over the next few days and weeks, according to four sources aware of the development.

1 month ago | marketscreener.com | Nishit Navin |Siddhi Nayak

BENGALURU/MUMBAI (Reuters) -Indian private lender Axis Bank on Thursday beat fourth-quarter profit estimates and expressed confidence about its retail loan growth improving in the upcoming quarters. The bank's loans grew 8% in the quarter ended March from a year ago, with retail loans expanding 7%. Peers such as ICICI Bank reported a 14% loan growth for the same period.