According to news reports, the public sector lender is looking at raising about Rs 10,000 crore through infrastructure bonds. As of September-end, the banks capital adequacy ratio as per Basel-III requirements was 15.30%, compared to 15.25% a year ago. The CET 1 ratio stood at 11.57%, compared to 10.95% a year ago. The additional tier-I ratio as of September end was 1.62%, compared to 1.86% a year ago.
"The rating upgrades reflect continued improvement in TML s (Tata Motors ) credit profile on the back of strengthening profitability and free cash flow that have enabled the company to reduce its borrowings despite elevated capital expenditure,” said Kaustubh Chaubal, Vice President at the global ratings agency
Revenue from operations, however, declined marginally by 0.5% on year to Rs 10,419.41 crore. The mainstay transmission business saw a 0.5% drop in revenue to Rs 10,359 crore. The consultancy business reported a 13% growth in revenue to Rs 157 crore. The operating profit, calculated as earnings before interest, taxes, depreciation, and amortisation (EBITDA), rose nearly 4% on year to Rs 9,207.32 crore. Operating margin improved 363 basis points to 88.37%.
The JSW Group companys operating profit, calculated as earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter increased by 52% on year to Rs 457 crore. Subsequently, the operating margin expanded a sharp 841 basis points to 53.83%.
Operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), for the quarter, rose nearly 8% on year to Rs 3,179.30 crore, but operating margin contracted by 91 basis points to 26.08%. Total expenses in the quarter rose to Rs 9,695 crore, from Rs 8,625 crore a year ago.