HDFC Bank’s fourth quarter net profit up by 15.4 percent to Rs 7,280 cr

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Private sector HDFC Bank’s integrated net profit for the fourth quarter of 2019-20 increased by 15.4 per cent to Rs 7,280.22 crore. This led to a net profit of Rs 6,300.81 crore in the same quarter of the previous financial year. In a communication sent to the stock exchanges, the bank said its consolidated total income rose to Rs 38,287.17 crore during the quarter from Rs 33,260.48 crore in the same quarter of the previous fiscal.

The bank has said that following the directive issued by the Reserve Bank on Friday, it will no longer pay any further dividends from 2019-20 profits. The central bank has banned the dividend distribution of all banks due to the Covid-19 crisis. This will enable banks to save their capital in such times of crisis. HDFC Bank’s board of directors did not propose any final dividend for the financial year ended on March 31, 2020, on Saturday. 

TCS net profit down to Rs 8,049 crore in Q4

The consolidated net profit of Tata Consultancy Services (TCS) declined marginally to Rs 8,049 crore for the quarter ended on March 2020. TCS said in a notice to the stock market on Thursday that the company had a net profit of Rs 8,126 crore in the same quarter of FY 2018-19. The company’s revenue grew 5.1 percent to Rs 39,946 crore in the quarter under review, from Rs 38,010 crore in the same quarter of 2018-19 a year earlier. The net profit of the company increased by 2.7 per cent to Rs 32,340 crore in FY 2019-20, while income grew by 7.1 per cent to Rs 1,56,949 crore.

In India cases rise to 15,712; death toll rises to 507

According to data, the number of Covid-19 infected people worldwide has crossed 2 million. So far, the epidemic has killed 1,44,000 people worldwide. America is most affected by this. It has killed 35,000 people in the US and infected over 7,00,000 people. 

Since the total of 1063 new cases reported in India in the last 24 hours, the number of people infected with the Covid-19 epidemic, including foreign nationals, has increased to 15,712 by Sunday morning in the country. The Ministry of Health has given information about this. The Ministry of Health, presenting the latest data in the morning said that a total of 12,969 Covid-19 are currently infected with the pandemic. A total of 2,232 patients who have recovered fully after treatment have been discharged from the hospital, while 507 people have died due to the epidemic.

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