PB Fintech shares trade mixed despite strong Q4 performance
The company managed to break even in the previous quarter and swung back to profitability in the March quarter of FY24.
The company managed to break even in the previous quarter and swung back to profitability in the March quarter of FY24.
The county’s fourth largest small finance bank is reportedly planning to apply for the universal bank license by May-June 2025.
The Tata Group company reported a multifold increase in consolidated net profit to ₹712 crore in the March quarter of FY24 as compared to ₹370.64 crore in the same period of FY23.
The company plans to merge Keimed, a promoter-owned wholesale pharma distribution business, with Apollo HealthCo over the next 24 to 30 months.
Analysts at brokerage firm Motilal Oswal gave a 'BUY' rating with a revised target price of ₹2,900 per share.
Despite beating analysts' estimates, in the March quarter of FY24, the company’s consolidated net profit declined by 8% to ₹2,385 crore, as against ₹3,074 crore in the corresponding period last year.
The company signed a definitive agreement with Dialog and Axiata Group to merge operations in Sri Lanka.
The company received approval from the National Payment Corporation of India (NPCI) for starting the user migration to new payment system provider (PSP) handles with immediate effect.
Ace investor and D-Mart founder and chairman Radhakishna Damani reportedly bought an additional 1.51% stake or 2.33 lakh shares of the company on April 15.
The beleaguered telecom operator plans to use ₹12,750 crore from the FPO to purchase equipment to expand its 4G and 5G network as well as existing capacities.