DCB Bank Ltd. reported a 35.5% year-on-year rise in first-quarter net profit as lower provisions and improving asset quality offset pressure on margins. The private lender posted a net profit of Rs 213 crore for the quarter ended June 30, compared with Rs 157 crore a year earlier, according to an exchange filing on Friday. Net interest income rose 17.7% to Rs 684 crore from Rs 581 crore in the corresponding quarter last year. Asset quality improved sequentially, with the gross non-performing asset ratio easing to 2.43% from 2.45% at the end of March, while the net NPA ratio declined to 0.84% from 0.89%. ALSO READ: DCB Bank Q4 Results: Net Profit Jumps 16% To Rs 206 Crore; Dividend Declared Provisions more than halved to Rs 57 crore from Rs 115 crore a year ago and fell from Rs 69 crore in the preceding quarter, supporting earnings growth. The bank said advances grew 17% year-on-year, while deposits increased 20%, reflecting continued business momentum. Capital adequacy r...
The Internet never fails to make us smile due to unexpected reasons. Thanks to the power of social media, we get an inside glimpse into small corners of the world. What we discover can make us think and laugh as well! A recent Tweet by Anand Mahindra made us do just that. In the Tweet, the industrialist posted a picture of a cafe in Denmark openly advertising itself as a "Husband Day Care Centre." Sounds intriguing, doesn't it? But what was the rationale behind such a sign board and why was Mahindra left impressed? Seems like the people behind the cafe really thought things through...
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In the picture, the entire signboard is visible. The text on it reads: "Need time for yourself? Need time to relax? Want to go shopping? Leave your husband with us! We look after him for you! You only pay for his drinks!" The cafe's Instagram handle is also mentioned. In the caption, Mahindra wrote, "Innovation is not just creating new products. It's also about creating entirely new use cases for an existing product category! Brilliant." Check it out here:
Innovation is not just creating new products. It's also about creating entirely new use-cases for an existing product category! Brilliant. 😊 pic.twitter.com/8rDMI91riJ
— anand mahindra (@anandmahindra) April 28, 2023
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The tweet has received 223.9K views so far. Many users were amused by the idea. Some were impressed by the ingenuity of such a label. Others made a few jokes and witty comments. "It's win-win for both husband and wife," wrote one Twitter user. Another said, "Ha ha.. what innovative marketing, sir." Check out some of the reactions below.
Innovation in service industry & other industries with creative approach is the key to enhance business profitability & its continuous process.. those accepts it florish other struggle & vanish..
— Nitin Tayade Khandvikar 🇮🇳 (@TayadeG) April 28, 2023
Absolutely agree! Innovation isn't limited to inventing something entirely new; it can also involve finding new ways to use existing products.
— efiletax (@efile_tax) April 28, 2023
They don't need a day care Center. They are better at home without anyone. It's not just innovation. It's innovation to the peaks. Smart way of presenting things😃😃😃
— Arvind Raghava (@ArvindRaghava5) April 28, 2023
where are we heading as a society & as a humanity 🙏🏻🙄😁
— Swaroop D (@swaroopspaces) April 28, 2023
Real innovative idea
— krishnasamivenkatesa (@kriselvan) April 28, 2023
It's a win-win-win situation!
— Rajesh Punjabi (@R113) April 28, 2023
— Shruti Mishra (@MarketerShruti) April 28, 2023
What did you think of the idea? Let us know in the comments below.
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