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State-owned Indian Overseas Bank on Thursday posted a 24% surge in net profit to Rs. 777 crore in the second quarter ended September 2024, due to interest income and onboarding of new customers. The bank had earned a net profit of Rs. 625 crore in the same quarter a year ago.
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Infosys reported a 5% rise in Q2 net profit, reaching Rs 6,506 crore. Driven by strong performance and mega-deals, the company raised its FY25 revenue growth guidance to 3.75%4.5% from the previous 3-4%.
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Some Cabinet members are alarmed at the scale of cuts being sought to plug a rumoured 40bn gap.
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