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...
On his visit to India, Apple chief executive officer (CEO) Tim Cook on Wednesday evening met Railway Minister Ashwini Vaishnaw at the Railway Ministry office in the national capital.
Shot on Made in India iPhone. pic.twitter.com/VWxKYnjZ2a
— Ashwini Vaishnaw (@AshwiniVaishnaw) April 20, 2023
As Mr Cook walked through the office of the Railway Ministry, he stopped to see the photograph of the Chenab Bridge right outside Mr Vaishnaw's cabin. Seeing the photo, Mr Cook's instant reaction was "Wow."
In a video shared by Railway Minister Vaishnaw, he could be seen explaining to the Apple CEO the significance of the Chenab bridge which is currently under construction. He told Mr Cook that the Vande Bharat train would be running on this railway bridge by December this year.
"This bridge connects the northern state of Kashmir. And this bridge is about 30 metres taller compared to the Eiffel Tower," Ashwini Vaishnaw told Tim Cook. On this, the Apple CEO replied "Wow".
Mr Vaishnaw further said, "Again fully designed in India, we recently commissioned the railway track over it. And by December we will be running the Vande Bharat train on this."
"Oh wow! that is special! Wow!" reacted Tim Cook.
Notably, Vande Bharat trains are one of the most ambitious projects of the Modi government with these semi-high-speed trains connecting the length and breadth of the country
"India laid about 5,000 kilometres of new tracks. 5000 kilometres of new tracks is like setting up a completely new network equivalent to what Switzerland has. Switzerland is about 5,200 kilometres. So, it is like setting up one whole new Switzerland rail line. That is the pace with which the country is working," the Railway Minister said.
Tim Cook's response was "That is amazing!"
On Wednesday evening during his meeting with the Railway Minister, the Apple CEO was presented with a special memento - a replica of the Vande Bharat train.
Taking to Twitter after the meeting, Mr Vaishnaw said "Met with Tim Cook, CEO, Apple. Discussed deepening Apple's engagement in India across manufacturing, electronics exports, app economy, skilling, sustainability and job creation, especially for women. Jointly charting a long-term and strong relationship."
The Apple CEO met Prime Minister Narendra Modi on Wednesday. Minister of State for IT and Electronics Rajeev Chandrasekhar also met the tech giant's CEO on Wednesday. Mr Cook expressed confidence about a long-term working relationship with India.
Tim Cook is currently in India for the launch of two Apple stores. The first was launched in Mumbai on Tuesday while the second retail store was unveiled in Delhi on Thursday.
Viewing India as its long-term market, the iPhone manufacturer has expressed interest in expansion plans, including manufacturing the latest products.
Currently, the employment strength of Apple in India stands at 1 lakh. Sources said this is expected to go up to 2 lakh in the coming years.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
from NDTV News- Special https://ift.tt/kbY9DPB
Comments
Post a Comment