 "Top headlines: FM on Q4 growth momentum, Reliance Cap lenders meet & more")
Earnings boost lifts early bird results; profit up 15.2% in March quarter
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Read more...
Bar council passes resolution against recognition to same-sex marriage
The Bar Council of India on Sunday passed a resolution opposing the legal recognition of same-sex marriage in India, saying “it would be catastrophic to overhaul something as fundamental as the conception of marriage by any law court, however well-intentioned it may be”. Read more...
Growth momentum may have sustained in Q4, says FM Nirmala Sitharaman
Finance minister Nirmala Sitharaman has said that India’s growth momentum — which gathered pace in the December quarter of FY23 — is likely to sustain in the March quarter, as reflected in the performance of various high-frequency indicators.
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The finance ministry had posted a few tweets about Sitharaman’s speech, but Business Standard has reviewed a copy of her full speech at the Fund-Bank meeting held during 10-16 April. The National Statistical Office (NSO) will release the March quarter gross domestic product (GDP) data on May 31. Read more...
Lenders of Reliance Capital to meet on Monday to consider bidders' concerns
Ahead of the second round of auction scheduled on April 26, lenders of debt-ridden Reliance Capital (RCap) will meet on Monday to resolve concerns raised by bidders, sources said. Both the potential bidders, Torrent Investment and IndusInd International Holdings Ltd (IIHL) of Hinduja Group, have expressed multiple reservations on the proposed auction and its terms and conditions. Read more...
May feel pressure on non-tariff barriers in FTA, says UK panel
Amid the ongoing negotiations with India for a trade agreement, the United Kingdom (UK) may be under pressure to give ground on non-tariff barriers and standards in order to secure market access for its businesses, a UK Parliament committee has warned. This is because tariffs in India are higher compared to the UK. Read more...