Private sector lender YES Bank reported a 25 per cent increase in net profit in the October-December 2015 quarter to Rs 675.7 crore from Rs 540 crore in the year-ago quarter, on the back of robust growth in net interest income (NII) and higher other income.

NII, difference between interest earned and interest expended, grew 27.3 per cent to Rs 1,157 crore. Other income - treasury gains, income from fees, commission etc — expanded 39 per cent to Rs 746 crore in the quarter under review. While there was slight pressure on asset quality, gross non-performing assets (NPA) at the end of the December 2015 quarter stood at 0.66 per cent, compared to 0.42 per cent in the year-ago period.

Engineering and infrastructure firm Larsen & Toubro's (L&T) third quarter consolidated net profit increased by 19 per cent to Rs 1,035 crore against Rs 866 crore in the corresponding quarter last year, aided by Other Income and lower finance cost. However, it was marginally short of Bloomberg consensus estimates of Rs 1,040 crore.

The major miss was at the operating level as Ebitda (earnings before interest, tax, depreciation, and amortisation) was down eight per cent to Rs 2,650 crore from Rs 2,890 crore and the margin contracted by 180 basis points to 10.3 per cent against 12.1 per cent. Margin was hit by employee and sales and distribution expenses.

The Supreme Court on Friday stayed the criminal proceedings pending before an Andhra Pradesh court against ODI captain Mahendra Singh Dhoni in a case lodged against him for allegedly portraying himself as Lord Vishnu in an advertisement.

A bench headed by Justice Dipak Misra also issued notice to respondent Yerraguntla Shyam Sundar on the petition of the cricketer in which he has also sought transfer of the criminal case from a court in Anantapur, Andhra Pradesh to Bengaluru in Karnataka.

The National Investigation Agency (NIA) has claimed to have cracked the 2014 Church Street blast case and announced that Alam Jeb Afridi alias Javed Rafeeq (30), who was arrested by NIA and Telangana ATS recently confessed to the crime.

Afridi was the same suspect who stabbed a Telangana ATS constable Srinivasa, resisting arrest at Doddanagamangala, Parappana Agrahara. While the Telangana ATS and NIA, had picked him up in connection with the Ahmedabad 2008 blasts, he confessed to the Church Street blast in custody, NIA sources claimed. The agency also claimed that the target was an Israeli delegation that was purported to visit Coconut Grove restaurant, that day.

In a major relief to Chief Minister Oommen Chandy, Kerala High Court on Friday suspended Vigilance court order to register FIR against him and Minister Arayadan Mohammed in connection with the solar scam.

The High Court said that the Vigilance Court acted mechanically without knowing nature and extent of its powers.

HCL Technologies, India’s fourth largest information technology (IT) services company is fast expanding its operations in Europe, Baltic region and Africa as it looks at newer frontiers for growth opportunities. According to the company, they are witnessing a major growth in the African region which is emerging as a key market for its expansion plans.

“We do play in that region but, in a selective fashion, in certain countries in Africa. We are increasingly being asked by our customers to expand operations and provide more services in that region," said Anil Chanana, chief financial officer of HCL Technologies.

Yes Bank, India's fifth-biggest private sector lender by assets, reported a better-than-expected 25% increase in quarterly profit, and said it expected full-year credit costs to be at the lower end of its guidance range.

The bank said it saw credit costs at maximum 50 basis points for the fiscal year ending March, compared with its previous guidance of 50-70 basis points.

TVS Motor company today reported 19.42% increase in net profit at Rs 107.7 crore for the quarter ended December 31.

The firm had posted a net profit of Rs 90.18 crore for the same period of previous fiscal.

Desperate to maintain its stranglehold on the domestic car market, Maruti Suzuki, India’s largest car manufacturer, has started the process of setting up regional offices that will oversee real estate purchases for its future dealerships.

The company plans to buy properties and rent it out to its dealers instead of the latter making heavy investment in buying showroom spaces. This way, Maruti believes, it can minimise migration of investments by dealers who have been looking at opportunities in other commercial areas such as supermarkets or malls.

The suspected data breaches by few BPO staffers of Wipro in Kolkata is likely to impact the Bengaluru-based company’s relationship with the client TalkTalk for whom these employees were working for. The Kolkata police last week had arrested three employees of Wipro who were handling British telecom firm TalkTalk’s back-office operations out of India, on charges of stealing of customers’ data.

The recent arrest could be linked to the data breach that TalkTalk went through in October last year when around 157,000 of its customer data including their bank account details were stolen. "Following the October 2015 cyber attack, we have been conducting a forensic review to ensure that all aspects of our security are as robust as possible - including that of our suppliers," said a statement by TalkTalk published in British public broadcaster, BBC.

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