LIC posts fall of 3.8% in profit in Q2FY25
LIC's profit after tax fell to 76.21 billion rupees ($903.6 million) for the quarter ended September from 79.25 billion rupees a year earlier.
LIC's profit after tax fell to 76.21 billion rupees ($903.6 million) for the quarter ended September from 79.25 billion rupees a year earlier.
State Bank of India (SBI) on Friday reported 28 per cent spike in net profit at Rs 18,331 crore for the quarter ended September 30, 2024. In the year ago period, it reported net profit of Rs 14,330 crore. On a sequential basis, SBI's Q2 profit rose 7.6 per cent from Rs 17,035.16 crore.
So far this fiscal, it has cleared Rs 600 crore pending dues, including salaries, GST liabilities, and PF contributions, the company said.
The report further anticipates a deficit of approximately $8 billion, equal to 0.8% of GDP in the first quarter itself. This is a reversal from the surplus of $5.7 billion, or 0.6% of GDP, recorded in the last quarter.
