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Domestic air passenger traffic grew 5.1% year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-COVID levels, credit ratings agency ICRA said on Thursday. According to the agency, the domestic air passenger traffic for FY24 was around 154 million, with a year-on-year growth of around 13%. It thus surpassed the pre-COVID …

Dixon Technologies: Preparing to ride a second growth wave

Second Growth

On Tuesday, July 18, the private non-life insurance provider ICICI Lombard General Insurance Company announced a 12% year-over-year increase in net profit at ₹390.4 crore for the three months that ended June 30, 2023. The Company's Gross Direct Premium Income for Q1 FY2024 was ₹63.87 billion, showing a growth of 18.9% compared to ₹53.70 billion in Q1 FY2023. When excluding …

Growth

Growth in India is expected to slow to 6.3% in FY2023: World Bank

Growth in India is expected to slow to 6.3 % in FY 2023/24, a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. “Growth in India is expected to slow further to 6.3 % in FY 2023/24, a 0.3 …

India Inc's Q3 Margins Increase Sequentially Despite Subdued Revenue Growth: ICRA

India Inc’s operating profit margin expanded 180 basis points sequentially to 16.3 per cent q-o-q during the December 2023 quarter despite subdued sequential revenue growth of 1.4 per cent, according to an analysis by ratings agency ICRA. The report revealed expectedly positive revenue trends, with a YoY growth of 17.2 per cent, despite subdued sequential revenue growth of 1.4 per …

Indian banks to see record credit growth of over ₹19 trillion in FY23: Icra

New Delhi: Indian banks are likely to witness a record high credit growth, surpassing the ₹19 trillion in the current fiscal year, domestic rating agency Icra said on Monday. Further, the growth momentum is expected to remain strong in FY2024 as well, even though rising interest rates and tight liquidity conditions could moderate the growth,” said Anil Gupta, senior vice …

Credit Growth

India’s Gross Domestic Product expanded by 13.5% on a year-on-year basis in the first quarter of the fiscal year 2023, largely in line with our projections. GDP growth in the previous quarter was driven by a surge in consumption demand, with private final consumption expenditure surging by 25.9% YoY — this alone contributed as much as 14 percentage points to …

GDP growth projected to spike to four-quarter high 13.0 per cent in Q1 FY2023, says ICRA

Highlights GDP growth is expected to expand in double digits at 13 per cent in Q1FY23 It's due to low base in contact-intensive sectors following widening vaccination coverage: ICRA Gross value added at basic price in Q1FY23 is projected at 12.6 per cent from 3.9 per cent earlier Business news : GDP growth is expected to expand in double digits …

Gdp Growth

After a gap of two years, India’s airport sector is expected to become profitable in FY23. According to ICRA estimates, all India passenger traffic is likely to increase by 68-70 per cent YoY to 317-320 million in FY2023. Besides, domestic passenger traffic is expected to witness 64-66 per cent YoY growth in FY2023 and reach pre-Covid levels. On Sunday, the …

India's real GDP likely to maintain 9% growth rate in FY2022, FY2023 amid Omircon threat: Icra

The rating agency believes that rising consumption will push capacity utilisation above the crucial threshold of 75% by the end of 2022 Mumbai: The country’s real gross domestic product is likely to maintain a 9 percent growth rate in fiscal 2022 and 2023, amid concerns over the Omicron variant of COVID-19, says a report. Looking ahead, we expect the economy …