IndiGo's profit in the Dec quarter has zoomed 111% to ₹2,998 crore, marking a recovery from Covid losses. The total income for the quarter crossed ₹20,000 crore, a first for any Indian carrier. IndiGo's capacity increased by 26.8% and passengers increased by 23.4% compared to the same period last year.
India Business News: Punjab National Bank (PNB) has reported over three-fold jump in net profit to Rs 2,223 crore in the Dec quarter - the highest in the last 15 quarters - on the back of higher interest income and improved asset quality.
Synopsis
On an average, economists at almost all the rating agencies and brokerages have forecast 0.4-0.7 per cent positive growth for the economy that has contracted a record high 23.9 per cent in the first quarter and 7.5 per cent in the second quarter of the current fiscal.
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As per the report, credit growth slipped to 5.6 per cent in late January from 6.2 per cent on January 1.
MUMBAI: Against the majority view of a rebound in the growth numbers for the December quarter, the house economists at the Wall Street brokerage Bank of America Securities on Tuesday pencilled in a 1 per cent contraction in India s GDP for the third quarter.