Category Archives: Business

Financial Results Announced for Quarter and Year Ended March 31, 2025

Business Highlights

• Total Business grew by 14.12% Y-o-Yto Rs. 5,13,527Crore as on 31.03.2025 from Rs. 4,50,007 Crore as on 31.03.2024.
• Total Deposits increased by 11.56% Y-o-Y basis to Rs. 2,93,542 Crore as on 31.03.2025 from Rs. 2,63,130 Crore as on 31.03.2024.
• Gross Advances grew 17.72%  Y-o-Y to Rs. 2,19,985 Crore as on 31.03.2025 as against Rs. 1,86,877 Crore as on 31.03.2024.
• RAM (Retail, Agri & MSME) business stood at Rs.1,22,613Crore as on 31.03.2025as against Rs.97,516Croreas on 31.03.2024, registering a growth of 25.74% Y-o-Y basis.
• Retail Advances stood at Rs. 54,255 Crore as on 31.03.2025 as against  Rs .40,161 Crore as on 31.03.2024 registering a growth of 35.09%Y-o-Y basis, backed by growth in Home loan and Vehicle loan portfolio which registered a growth of 18.13% and 58.99% respectively on Y-o-Y basis.
• Agriculture Advances stood at Rs. 29,575 Crore as on 31.03.2025 as against Rs. 24,641 Crore as on 31.03.2024, showing a growth of 20.02% Y-o-Y basis.
• Advances to MSME sector stood at Rs. 38,783 Crore as on 31.03.2025 as against Rs. 32,714 Crore as on 31.03.2024, registered a growth of 18.55% Y-o-Y basis.
• Business per employee improved to Rs.24.35Croreas on 31.03.2025 as against Rs.20.93Crore for the same period of preceding year.
• Operating Profit for the quarter ended 31.03.2025 stood at Rs. 1,699 Crore registering a growth of 33.48% Y-o-Y basis as against Rs. 1,273 Crore for the same period of preceding year. For the year ended  March 2025, Operating Profit has grown by 31.92% to Rs. 6,037C rore as against Rs. 4,576 Crore for the year ended March 2024.
• Net Profit for the quarter ended 31.03.2025 stood at Rs.652Crore as against Rs.526Crore for the same period in the preceding year, registering a growth of 23.98% Y-o-Y. Net profit stood at Rs. 2,445 Crore for the year ended March 2025 showing a growth of 47.80% Y-o-Y as against Rs. 1,654 Crore for year ended March 2024.
• Net Interest Income (NII) for the quarter ended 31.03.2025 stood at Rs. 2,698 Crore registering a growth of 23.35%  Y-o-Y basis as against Rs. 2,187Crore for the same period of preceding year. For the year ended March 2025, Net Interest Income(NII) grew by 18.88%  Y-o-Y basis to Rs. 9,630 Crore as against Rs. 8,101 Crore for the year ended March 2024.
• NIM for the year ended  March 2025 stood at 3.08% as against 2.92% for the year ended March 2024..
• Earning per share improved to Rs. 2.04 as on 31.03.2025 as against Rs. 1.38 as on 31.03.2024.

Asset Quality

• Gross NPA improved to 2.69 % as on 31.03.2025 as against 3.46% as on 31.03.2024, registering an improvement of 77 bps Y-o-Y.
• Net NPA improved to 0.50 % as on 31.03.2025as against0.89% as on 31.03.2024, registering an improvement of 39 bpsY-o-Y.
• Provision Coverage Ratio stood at 96.69% as on 31.03.2025.

Dividend

• Dividend @ 3.90% (i.e @ 39 paise per equity share) is proposed for the year 2024-25.

Branch Network

• As on 31.03.2025 Bank hada network of 3302 domestic branches and 2 overseas branches each at Hong Kong and Singaporeand 1 Representative Office in Iran. Out of the total branches, Bank has 2031 (61%) branches in rural & semi-urban areas. Bank has 2522 ATMs and 10653 BC Points making the total number of 16480 touch points as on 31st March 2025.

TVS Credit reports highest ever PAT of Rs. 767 Crore for the year ended March’25, PAT growth of 34%

Chennai, 29 April 2025: TVS Credit Services Limited, one of India’s leading NBFCs, announced its financial results for the fourth quarter and financial year ended March 31, 2025. The Company reported a Total Income of Rs. 1,674 Crore for Q4 FY25, a growth of 10% from Q4 FY24 and Net Profit After Tax of Rs.226 Crore for Q4 FY25, a growth of 53% from Q4 FY24.

FY2025 Performance Highlights:

• AUM at Rs. 26,647 Crore in FY25, a 3% increase compared to FY24.
• Total Income for FY25 was Rs. 6,630 Crore, a 14% growth compared to FY24.
• Profit Before Tax for FY25 was Rs. 1025 Crore, a 35% increase compared to FY24.
• Net Profit After Tax amounted to Rs. 767 Crore for FY25, a 34% increase compared to FY24.

In Q4 FY25, the industry witnessed moderation in the growth of credit following the festive surge in Q3. TVS Credit maintained its strategic focus on building a diversified book, primarily targeting consumer finance and retail segments. The Company took a risk calibrated approach and focused on chosen customer segments particularly in Consumer Loans and Vehicle Finance. During this period, TVS Credit disbursed loans to over 13 lakh new customers, bringing its total customer base to nearly 1.9 crore.

TVS Credit will continue to focus on steady growth by increasing market penetration and share, expanding product offerings and distribution, driving digital transformation, and enhancing customer experience and operational efficiency.

Strong Strategy Fuels 26 Percent PBT Surge to 108.3 Crore in FY25 as Bank Marks 5 Years of Profit

Navi Mumbai, 29 April 2025 – Fino Payments Bank Limited (NSE: FINOPB | BSE: 543386) today announced its financial results for the fourth quarter and full year ended 31 March 2025. The Bank reported robust growth across its digital, annuity, and deposit verticals, underpinned by platform scalability, sustained customer acquisition, and effective technology optimisation.

Key Highlights

• First Payments Bank to maintain consistent profitability for five consecutive years (Q4 FY’20 – Q4 FY’25)

• FY’25 revenue at ₹1,847 crore, in line with guidance, reflecting 25% YoY growth
• High-margin CMS and CASA products contributed 38% to the revenue in FY’25
• Digital (UPI) transactions volume crossed 288 crore in FY’25 up 80% over FY’24
• Bank clocked over ₹1,260 crore transactions on a daily basis in FY’25 thereby demonstrating a record annual throughput of ₹4.6+ lakh crore, registering 29% YoY growth

Financial Highlights

Segment-wise Highlights

Digital Momentum

• Digital throughput rose 70% YoY to ₹225,482 crore in FY’25
• Contributed 1.62% of national UPI transaction volume in Q4’25
• Digital payments revenue grew 4.2x YoY to ₹390 crore

Customer Ownership

• Customer base reached 1.43 crore, a 30% YoY increase
• 33+ lakh new accounts opened during FY’25. (Over 9,000 accounts opened everyday)
• Average deposits rose 37% YoY to ₹1,849 crore. 
• Strong liability franchise augurs well to mobilise low cost deposits and explore future growth opportunities, including Small Finance Bank transition
• CASA renewal income reached ₹190 crore, up 48% YoY
• ~ 53 lakh customers digitally active in Mar’25 setting base for higher balances and renewal revenue.

CMS (FY’25)

• Client base expanded to 230, a 11% YoY increase

• CMS throughput grew 24% YoY to ₹83,451 crore

Technology Update

• • Invested over ₹ 150 crore+ in FY’25, will continue to invest in superior technology. 
  • Core banking platform (CBS) migration to Finacle is progressing as planned and is expected to be completed by Q1’26 

• UPI: Handled ~1 crore daily transaction volume in Q4’25

Management Commentary

Rishi Gupta, MD & CEO, said:

“FY’25 has been a transformational year for Fino. Our endeavour to position ourselves as a leading digital player is reflected in our growth. Leveraging our technology-enabled network and digital ecosystem has been our mantra for sustainable growth. Our diligent customer centric approach enhances our long-term vision of monetising our customer base. Importantly, our strategic focus on customer ownership, digital-first approach, continuous innovation and exploring value creating avenues is at the core of our commitment to inclusive growth and profitability.”

Ketan Merchant, CFO, added:

“We delivered on our revised guidance of 25% YoY (5% up from earlier guidance of 20%) growth in topline and remain focused on creating long-term shareholder value with discipline and agility. Our sustained performance has made Fino the first payments bank to remain profitable for five consecutive years. Our continued focus on the highly profitable digital segment has delivered exceptional results, with digital now contributing 21% to the total revenue – exceeding our expectations in FY’25.”

Mobec Targets $13 Billion U.S. Lithium Battery Recycling Industry With Strategic Partnership Model

Expands Operations to Greater Noida with First Strategic Handshake

New Delhi/Noida, April 28, 2025 – Addressing the growing demand for recycling energy storage solutions for electric vehicles and solar industry and support India’s Net Zero mission, Mobec Innovation – mobec.io, India’s first full-range service provider for customisable B2B mobile EV charging solutions and energy storage systems, today announced a transformative shift in its expansion strategy by moving towards strategic partnerships to revolutionise lithium battery recycling.

Mobec’s strategic partnership model dovetails with a collaborative and scalable approach to address India’s need for a comprehensive framework for establishing and operating advanced lithium battery recycling facilities. This aims to address the critical need for sustainable recycling solutions that minimise environmental impact and maximise resource recovery esp. rare metals. With this, strategic partners gain access to Mobec’s proprietary technologies, proven processes, and comprehensive and extensive support system, enabling them to efficiently and profitably recycle batteries from a wide range of sources.

Also, the company today announced its first strategic partner in Greater Noida, a key industrial hub in India, marking the initiation of a pan India drive.

“The surge in lithium-ion battery use presents both an opportunity and a challenge,” said Harry Bajaj, Founder and CEO, Mobec Innovation. “Our strategic partnership model offers a powerful, collaborative approach for organisations looking to capitalise on the burgeoning green economy while making a significant contribution to environmental sustainability. Our first Strategic Partnership is the beginning of a new era in this $13 bn industry opportunity.”

Initial few quarters Mobec shall aim at capacity building while ensuring the interest of all stakeholders remains positive and sustainable both financially and environmentally.

“Together, we can create a cleaner, greener future for India while building thriving, sustainable businesses.” Bajaj added further.

This shall also help develop best practices for industry benefit on a long-term basis. Mobec is also in advanced talks with several other potential strategic partners in key locations, indicating a strong interest in its sustainable business model.

Currently, Mobec is focusing on consumer electronics, electric vehicles (EVs), energy storage systems (ESS), and industrial equipment, as these key sectors are expected to generate significant battery waste. Within this focus, the company is also prioritizing advancements in ESS, lithium battery recycling, and power backup generators—laying

the groundwork for upcoming expansion initiatives aimed at scaling plant operations and accelerating the circular economy.

The Mobec Advantage

Mobec’s full-stack in-house team of chemists shall ensure optimal chemical processes for maximum material recovery and environmental safety. Mobec utilises a unified inventory management system ensuring efficient tracking and processing of recyclable materials. These combine to offer an unparalleled value proposition to Mobec’s strategic partners.

About Mobec Innovation:

Mobec Innovation Pvt Ltd, mobec.io is India’s first full-range provider of mobile EV charging solutions, energy storage systems, and battery recycling and refurbishment. Headquartered in Noida, Mobec is committed to sustainability and innovation, ensuring accessible, cost-effective, and efficient energy solutions for electric mobility.

Its mobile EV charging solutions (5-60 kW) cater to two-wheelers, four-wheelers, and commercial fleets, addressing infrastructure challenges. Mobec’s advanced battery recycling and refurbishment processes recover key materials, promoting a circular economy. Additionally, its energy storage systems (ESS) are being improved to provide more efficient and reliable power for homes, offices, commercial establishments and industries. Mobec is also adding smarter power backup solutions and focusing on lithium battery recycling to reduce waste and promote reuse. With plant expansion plans in motion, the company is getting ready to meet growing demand and support stronger EV infrastructure.

These efforts are all part of Mobec’s mission to support green mobility and help build a cleaner, net-zero future for India.

HMD to Launch Direct-to-Mobile Phones in India Before Field Trials

Mumbai April 29, 2025 – HMD in collaboration with Free Stream Technologies (incubated at Indian Institute of Technology (IIT), Kanpur) and other D2M partners announces launch plans underway to meet mass consumer demand for Direct-to-Mobile (D2M) phones ahead of large-scale field trials in India. The announcement will be made at the World Audio Visual & Entertainment Summit (WAVES) 2025 held at Jio World Centre, Mumbai.

Direct-to-Mobile is a breakthrough Next-Generation Broadcasting technology that delivers OTT & live TV, video, audio, and text messages directly to mobile phones without requiring Wi-Fi or internet service. This aligns with Prime Minister Narendra Modi’s vision for Viksit Bharat (economic transformation of India) and supports the ‘Make in India’ and ‘Design in India’ initiatives.

Giving a boost to the ‘Make in India’ and ‘Design in India’ efforts, low cost feature phones, smartphones and tablets are powered by Tejas Networks. This technology has undergone extensive testing in live networks by Prasar Bharati in collaboration with IIT Kanpur and Tejas Networks for several years.

 On this occasion, Ravi Kunwar, VP and CEO, HMD India and APAC expressed, “HMD has always been committed to staying ahead of the innovation curve and delivering the best consumer experience. With this philosophy at the core of our mission, we’re excited to be a part of the D2M journey. This groundbreaking, first-of-its-kind platform worldwide enables our consumers to access a vast array of multimedia content”

 “Sumeet Nindrajog, Director of FreeStream Technologies said, D2M is a technology that can transform how content & data gets consumed by the end users and the commitment from companies like HMD to establish the foundation for a robust device ecosystem is instrumental for our nationwide deployment strategy. Their ability to supply devices at scale demonstrates strong confidence in D2M’s future success.”

 Parag Naik, co-founder of erstwhile Saankhya Labs and Executive Vice President, Tejas Networks, said, “The phones are powered by Saankhya Labs’ award winning SL-3000 chipset, which is the foundational D2M enabler. We have also developed the Core Network platform that will enable delivery of targeted Ads, CDN offload, educational content, emergency alerts and other apps that will empower the consumers furthering PM Modi’s vision of a digitally empowered India. Our collaboration with HMD has truly been path breaking and we truly expect the best out of it.”

 Chris Ripley, President and CEO, Sinclair, Inc. expressed, “Large scale adoption of ATSC 3.0 in affordable mobile devices vindicates Sinclair’s forethought in leading US and global deployment of this broadcast standard as “mobile first” and in investing in Made by India technology.  To meet future 6G goals, we are spearheading the next release of the standard – “Broadcast to everything” (B2X) which will unleash next generation broadcast apps for numerous verticals. We are proud to have companies like HMD as our partners in this initiative.”

The implementation of D2M technology will enable Indian consumers to access entertainment, sports, educational programming, and emergency alerts directly on their mobile devices through terrestrial TV broadcast airwaves. This technology has been under development and testing in India for several years, with HMD now positioning itself as one of the first device manufacturers ready to bring this capability to market.

Buzzlab Launches State-of-the-Art Multipurpose Studio in Bengaluru

28th April, 2025: Buzzlab, Asia’s first content led growth firm has launched a brand-new multipurpose studio in Bengaluru. This new facility has been carefully designed to provide a one stop destination to the growing community of content creators and brands looking to create content for their ads, YouTube, Instagram across the region. This is ideal for creators and brands who are looking for a professional recording environment.

Importantly, this marks the first time Buzzlab has launched a studio specifically built to create content using AI and their proprietary content playbook—an innovation aimed at helping founders, C-suite individuals and other high-impact voices craft and scale their content effortlessly. The studio is equipped with all modern features, including a completely soundproof room, ambient lighting, acoustic paneling for crystal-clear audio and high-end camera and microphone setups to ensure premium production quality.

Buzzlab’s studio also offers in-house production support, with a skilled Director of Photography (DOP) and a dedicated audio assistant available to guide creators through seamless sessions—whether they’re recording a podcast, shooting a conversation, or utilizing the green screen setup.

Speaking on the launch, a spokesperson from Buzzlab said, “Our goal with the new studio is to help creators and brands with a space that blends comfort, quality, and creativity. We’re excited to welcome podcasters, influencers, and brands to experience a studio environment tailored specifically to their needs.”

With this launch, Buzzlab strengthens its commitment to growing content creation and community engagement in India’s growing digital media landscape.

Tata Steel Wins National and World Intellectual Property Awards

Chandigarh, April 28, 2025: Tata Steel won the National Intellectual Property Award from the Indian Patent Office in the category of ‘Top Public/Private Company for Patents Filing, Grant & Commercialization in India’, and the World Intellectual Property Award from the World Intellectual Property Organization (WIPO) under the WIPO Awards Program.

The award highlights the Company’s significant contributions to intellectual property creation and commercialisation, with over 2,000 patent applications filed worldwide. In FY24, Tata Steel had filed 142 patents and was granted 395 patents. In the period FY20 to FY24, Tata Steel averaged around 130+ patent applications annually, demonstrating its commitment to intellectual property through its R&D, collaborative research, and innovative practices.

Subodh Pandey, Vice President – Technology, R&D, NMB and Graphene, Tata Steel, said: “The steel sector today offers immense scope for building competitive advantages in the marketplace on the back of its R&D capabilities and through collaboration with leading academia in the country. There is also a growing need to focus our R&D efforts towards building a more environmentally sustainable steel sector. On both counts, Tata Steel has seized all opportunities and will continue to do so to not only stay ahead of the technology and innovation curve but also create a benchmark for others who are keen to invest in building their intellectual capital.”

Since establishing one of India’s oldest research and development (R&D) facilities in 1937, Tata Steel has been committed to innovation, filing its first patent just a year later in 1938. The Company’s patent portfolio was recently featured in a compendium by the Indian Patent Office, which showcased innovations that align with the United Nations’ 17 Sustainable Development Goals (SDGs).

The National Intellectual Property (IP) Awards are conferred annually to recognise and reward individuals, institutions, organisations, and enterprises for their outstanding contributions to IP creation and commercialisation. These awards play a crucial role in strengthening the IP ecosystem in India and fostering innovation and creativity. The National IP Awards encourage effective IP portfolio management, which significantly impacts innovation across various industry sectors.

Handloom Expo for Languishing Weaves Begins at Handloom Haat, Janpath

New Delhi: The much-awaited Handloom Expo for Languishing Weaves has begun today at Handloom Haat, Janpath, New Delhi. Organized by the National Design Centre (NDC) with the support of the Development Commissioner (Handlooms), Ministry of Textiles, Government of India, the expo will continue till May 4, 2025.

This expo is dedicated to showcasing weaving traditions that have become extremely rare in today’s world. With the growing dominance of machine-made products, many traditional weaving practices are on the verge of extinction. At such a time, this exhibition aims to revive these endangered crafts, bring them back into the limelight, and extend support to the weavers. Skilled artisans from across the country will present their unique creations, helping preserve and honor their rich cultural heritage.

The expo will feature a vibrant range of traditional cotton and silk sarees, shawls, tweeds, handwoven fabrics, dress materials, and stoles. In addition, visitors will find handcrafted home furnishing items, handwoven dupattas, jackets, kurtas, and scarves created using rare weaving techniques. Each product will reflect the cultural richness and intricate craftsmanship of its region, offering buyers an authentic and distinctive experience.

The atmosphere is electric, with artisans directly interacting with visitors, sharing the stories behind their crafts. It serves as a one-stop sourcing destination for exporters, wholesalers, retailers, and handloom lovers who want to support and preserve these traditional crafts that are slowly disappearing.

Handloom Haat has come alive with the colors, textures, and traditions of India’s diverse regions, offering Delhiites and tourists a wonderful opportunity to experience authentic handmade textiles. Entry is free, and the expo is open daily from 11 AM to 8 PM.

realme & Krafton Unleashed Industry-First 6H Stable 120FPS at the BGIS 2025 Grand Finals

Kolkata, April 28, 2025:  realme, the most popular smartphone brand among Indian youth, took mobile gaming to the next level as the grand finale of the realme Battlegrounds Mobile India Series (BGIS) 2025 concluded this weekend in Kolkata.

BGIS, one of India’s biggest esports tournaments, brought together the most skilled Battlegrounds Mobile India (BGMI) teams from across the country. After two months of intense qualifiers and nail-biting matchups, the top 16 teams battled it out for ultimate glory at the Biswa Bangla Mela Prangan from April 25 to 27, 2025.

In a first-of-its-kind move, realme partnered with Krafton to co-test and integrate the industry’s first-ever 6-hour stable 120FPS gaming experience—setting a new benchmark for extended mobile gaming sessions.

This breakthrough feature made its debut on realme’s upcoming GT7, the 2025 flagship killer, a device built from the ground up to meet the performance demands of serious gamers. Teased ahead of the BGIS 2025 Finals, the GT7 already created a buzz in the gaming community as the official smartphone partner for BMPS 2025.

As gaming evolved into a cultural movement, realme continued to innovate for the growing gaming community in India, delivering power, performance, and style.

Fans, gamers, and tech enthusiasts witnessed the action live in Kolkata and became part of a thrilling celebration of skill and innovation. The future of mobile gaming had officially arrived.

Impulse Coffees Expands Menu with Refreshing Iced Teas

Mumbai, India; 2025: Impulse Coffees, the homegrown brand that redefined at-home coffee indulgence, is brewing something exciting yet again. After setting a new standard with its premium, naturally flavored coffee blends free from chicory, sugar, and artificial additives; the brand is now taking a bold leap beyond coffee. Impulse Coffees proudly announces the launch of its new Iced Tea range, crafted to offer a lighter, fruitier, and equally energizing caffeine experience.

Impulse Coffees’ Iced Teas are made using authentic ingredients and real fruit extracts, offering a flavor experience that mirrors the richness of a luxury café-style beverage  but without artificial sweeteners, chicory, or synthetic additives now available in five vibrant flavors – Lemon, Strawberry, Blueberry, Pineapple, and Guava Chilli; these Iced Teas are designed for those who crave a refreshing twist without compromising on their caffeine love. With this launch, Impulse Coffees evolves into a caffeine-first brand, expanding its promise of bold, authentic flavors into a whole new category.

Impulse Coffees was founded by Sarah Sarosh, one of India’s OG YouTubers, a beauty content creator, and entrepreneur. Starting her journey as a medical student in 2017, Sarah built a loyal community of over 1.8+ million followers across platforms, known for her authentic voice and inclusive approach to beauty.

With Impulse Coffees, Sarah brings the same authenticity; crafting 100% premium products made with real ingredients, free from synthetic flavors, chicory, or added sugar. The brand stands for clean, indulgent caffeine experiences that don’t compromise on taste or quality.

Speaking about the expansion, Sarah Sarosh, Founder of Impulse Coffees, says, “At Impulse Coffees, we believe that caffeine is more than a beverage; it’s an experience. With the introduction of our Iced Tea range, we wanted to give our community something that feels refreshing, vibrant, and true to our ethos of clean, indulgent flavors. Whether you’re powering through a workday or relaxing on a sunny afternoon, our Iced Teas are crafted to elevate every moment.”

Each flavor has been thoughtfully curated to deliver a layered taste profile, ensuring that every sip feels like a treat; whether you’re lounging by the pool, working from your desk, or catching up with friends.