REC Q3 Results: Loan growth below guidance, Net Interest Income a miss

REC has also declared a third interim dividend of ₹4.3 per share for the financial year 2025, for which the record date has been fixed as February 14.

REC has also declared a third interim dividend of ₹4.3 per share for the financial year 2025, for which the record date has been fixed as February 14.

Shares of Minda Corporation Ltd closed flat on Thursday at ₹574.45 apiece on the BSE, down 0.24%.

State Bank of India (SBI) weighed on PSU banks, with the Nifty PSU Bank index down nearly 1%. SBI shares declined 2% after the lender missed estimates on net interest income (NII) and margins, although asset quality remained steady.

The US initial jobless claims data for the week ending February 1 will be released on February 6, 2025, at 7:00 PM IST (8:30 AM ET).

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Shares of Unichem Laboratories were trading higher following the results, up 2.17% at ₹739.05 per share on the BSE around 1:43 PM.

Revenue for the quarter rose by 11% year-on-year to ₹1,717 crore, compared to ₹1,546 crore in the corresponding quarter of last year. The topline was slightly higher than CNBC-TV18’s poll estimate of ₹1,698 crore.

Net profit for the lender stood at ₹16,801 crore at the end of the December quarter, a growth of 84% from last year and above expectations of ₹16,099 crore.

The Tata Group firm lost a legal battle in Qatar, with the court ruling against its claims and directing payment to a joint venture partner. Voltas plans to appeal.

Sapphire Foods’ margins declined to 17.7% from 18.3% due to higher operating costs, sending the company’s shares down 0.6% to ₹316.65 as at 2:34 pm on the BSE.