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India's second largest private lender ICICI Bank today reported a standalone net profit of Rs 10 707.53 crore for the quarter ended March 31, 2024 which was up by 17.38% from Rs 9121.87 crore reported in the year ago period.ICICI Bank reported interest income earned during the quarter at Rs 37,948.36 crore which was up by 22.33% from Rs 31,021.13 reported in the year ago period.Company's board of directors have recommended a dividend of Rs 10 per share for FY2024.The interest expended during the said quarter stood at Rs 18,855.56 crore which was up from Rs 13,354.34 - a YoY gain of 41%.Bank's board also approved fund raising via issuances of debt securities that will include non-convertible debentures (NCDs) in domestic markets up to an overall limit of Rs 25,000 crore. The Board has also authorised buyback of debt securities within the limits that the Board is authorised to approve under applicable law, the company filing said.Key takeawaysBank's Capital Adequacy Ratio (CAR) for the reporting quarter stood at Rs 16.33% which is up sequential from 14.61% in Q3FY24 and down YoY from 18.34% in Q4FY23. Gross NPAs were down on a YOY and QoQ basis. In the January-March quarter of FY24, GNPA was reported at Rs 27,961.68 down from Rs 28,774.63 crore in Q3FY24 and Rs 31.183.70 in Q4FY23. Profit before tax (PBT) excluding treasury grew by 19.2% YoY to Rs 14,602 crore in the quarter ended March 31, 2024.Core operating profit grew by 10.5% YoY to Rs 15,320 crore in Q4-2024. It grew by 18.3% YoY to Rs 58,122 crore in FY2024.For full year ended March 31, 2024, PAT grew by 28.2% YoY to Rs 40,888 crore.Total period-end deposits grew by 19.6% YoY to Rs 14,12,825 crore at the end of March 31, 2024.Average current account and savings account (CASA) ratio was 38.9% in Q4-2024.Domestic loan portfolio grew by 16.8% YoY to Rs 11,50,955 crore in March ended quarterNet NPA ratio declined to 0.42% at March 31, 2024 from 0.44% at December 31, 2023Provisioning coverage ratio on non-performing assets was 80.3% at March 31, 2024On the consolidated basis (PAT) increased by 18.5% YoY to Rs 11,672 crore in Q4FY24 from Rs 9,853 crore in Q4FY23. Consolidated assets grew by 20.7% YoY to Rs 23,64,063 crore at March 31, 2024 from Rs 19,58,490 crore at March 31, 2023.

Iran said Saturday it would release the crew members of a Portuguese-flagged ship that its forces seized this month in the Gulf.The Islamic Revolutionary Guard Corps took over the MSC Aries with 25 crew members on board near the Strait of Hormuz on April 13.Tehran later said the ship belonged to its arch-foe Israel and was being investigated for alleged violations of international maritime law. "The humanitarian issue of the release of the ship's crew is of great concern to us," Iran's Foreign Minister Hossein Amir-Abdollahian said in a phone call with his Portuguese counterpart Paulo Rangel."We have given consular access to their ambassadors in Tehran and announced to the envoys that the crew members will be released and extradition," he was quoted as saying in a statement from his ministry, without elaborating.Following the ship's seizure, Portugal summoned Iran's ambassador to demand its immediate release.On April 18, India said one of the 17 Indian crew members had returned home and that the others were granted consular access."They are in good health, and they are not facing any problems on the ship. As for their return, there are some technicalities involved in it," an Indian foreign ministry spokesman said on Thursday.The ship's seizure took place hours before Iran carried out its first-ever direct attack on Israel, launching hundreds of drones and missiles.The Israeli military said nearly all of the projectiles were intercepted.Israel and the United States have denounced the seizure of the ship as an act of "piracy".Regional tensions have soared since war broke out nearly seven months ago between Israel and Palestinian militant group Hamas in the Gaza Strip.

Maruti Suzuki India disclosed its quarter four results for FY 2023-24, indicating a notable rise in net profit by 47.8 per cent to Rs 3,877.8 crore compared to Rs 2,623.6 crore in the same period last fiscal year.The annual sales volume of the Maruti Suzuki has also surpassed the 2 million units. The company has retained its position as the top exporter of passenger vehicles in India for the third consecutive year.The company informed the exchange in its filing that the total revenue of the company from sales in Q4 FY24 reached to Rs 36,697.5 crore, up from Rs 30,821.8 crore in the corresponding period of the previous year.The automaker's Board has also proposed a dividend of Rs 125 per share which is the highest-ever dividend by the company and an increase from the dividend of Rs 90 per share in FY23."The Board has recommended a dividend as mentioned in the notes to the financial results enclosed as Annexure- "A". The date of payment of dividend is 3rd September, 2024 subject to the approval of the shareholders in the ensuing annual general meeting. The annual general meeting of the Company is scheduled to be held on 27th August, 2024" said a release by the company.During the last FY 2023-24, the company had also achieved its highest-ever annual sales volume, exports, net sales, and net profit. Throughout the fiscal year, the Company sold a total of 2,135,323 vehicles, representing an 8.6% growth over FY2022-23. Domestic sales volume reached 1,852,256 units, while exports stood at 283,067 units.The company commenced exports in 1987 and now contributes nearly 40 per cent of the total vehicle exports from India. Recently Maruti Suzuki has also reached the cumulative milestone of producing over 3 crore car units in India.During the last year the company share has given a return of around 50 per cent on the National Stock Exchange and on Friday's trading session, it closed at Rs 12,760 per share.