18 Jul 2017

South Indian Bank and TCS

The first quarter FY18 results season is upon us and the first week produced two reports of interest. South Indian Bank reported net interest income ahead by 23% and net profits ahead by 6.7%. The results were well received because the bank is now seen as having appropriate non-performing loans provisions. TCS reported sales ahead by 1% but profits reduced by 6%. The company came under some margin pressure in the quarter and suffered from the relative strength of the Rupee.

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