Private lender IDFC FIRST Bank on Saturday posted a consolidated net profit of Rs 295.6 crore for the fourth quarter (Q4) of FY25, nearly 60 per cent decline compared to Rs 731.9 crore reported in the same period in FY24.

For the full financial year FY25, net profit stood at Rs 1,490 crore, down almost 50 per cent from Rs 2,942 crore (year-on-year), as per its stock exchange filing.

Net Interest Income (NII) grew 9.8 per cent YOY from Rs. 4,469 crore in Q4 FY24 to Rs. 4,907 crore in Q4 FY25. For FY25, the growth of NII was 17.3 per cent on YoY basis.

According to the bank, core operating income grew 8.7 per cent from Rs 6,079 crore in Q4 FY24 to Rs. 6,609 crore in Q4 FY25. For FY25, the growth of operating income was 16.7 per cent on YoY basis.

Customer deposits increased 25.2 per cent from Rs 1,93,753 crore as of March 31, 2024 to Rs 2,42,543 crore as of March 31, 2025.

Autotech platform CARS24 has laid off nearly 200 employees across various functions, as part of a restructuring exercise to meet long-term goals.

The e-commerce platform for pre-owned vehicles said this is a “tough moment”.

“Over the past few weeks, we have had to make the difficult decision to part ways with around 200 of our teammates across various functions. Every person impacted gave this company their time, energy, and belief. That matters deeply, and we are genuinely grateful,” said Vikram Chopra, co-founder and CEO of Cars24, in a blog post.

He denied this decision as an exercise to reduce costs but “about aligning the team and structure with our long-term goals, and correcting where we’ve lost focus.”

Cars24 offers a wide range of services, including buying and selling of pre-owned cars, financing, insurance, driver-on-demand and more.

Motilal Oswal Financial Services Limited (MOFSL) on Friday reported a net loss of Rs 63.2 crore for the quarter ending March 2025, marking its first quarterly loss in five years.

In comparison, the company had posted a strong profit of Rs 724 crore in the same period last year.

The main reason behind this sharp fall was a significant hit on fair value changes, the company said in its stock exchange filings.

According to its filings, MOFSL recorded a net loss of Rs 430 crore due to fair value changes during the quarter, as against a net gain of Rs 424 crore in the March 2024 quarter.

The company’s total revenue from operations also saw a big drop, falling 44 per cent year-on-year (YoY) to Rs 1,190 crore.

The government has notified the Goods and Services Tax Appellate Tribunal (GSTAT) (Procedure) Rules which make it online filing of applications mandatory, provide for hybrid hearings and listing of cases on an urgent basis steps that will make the adjudication process simpler for businesses.

The notification states that the rules come into effect from April 24, 2025, and the GSTAT portal has already gone live.

The move marks a major step in streamlining tax litigation under the GST regime. Under the new rules, all appeals and applications must be filed digitally via the official GSTAT portal.

The framework, laid out in 15 chapters, covers procedures from the admission of appeals to hearings and final orders. The Tribunal will allow hybrid hearings -- either in person or through video conferencing -- as approved by the Tribunal President.

Boult Audio, the bootstrapped consumer electronics brand, has reported a 37 per cent drop in its net profit to Rs 2.5 crore for the fiscal year 2023-24 (FY24), compared to Rs 4 crore in FY23.

The Delhi-based company, which designs and manufactures wireless earbuds, headphones, smartwatches, and speakers, saw its revenue from operations increase to Rs 697 crore in FY24 from Rs 498 crore in the previous fiscal, as per its financials.

Boult also made Rs 5 crore from non-operating revenue, bringing its total revenue to Rs 702 crore.

However, the rising expenses, particularly in materials, advertising, and post-supply discounts, outpaced the revenue growth.

Boult’s cost of material consumed surged by 25 per cent to Rs 402 crore, making up nearly 58 per cent of its total expenses.

More than 70 per cent of Indians are seeking generative artificial intelligence (Gen AI) tools to boost their productivity as well as communication skills, a new report said on Friday.

The report by Google and Kantar, based on a survey of over 8,000 people across 18 cities, analysed Gen AI adoption, potential, and impact among people in India. It underlined the massive headroom for Gen-AI adoption in India, and people's desire to use such tools to excel in life.

The report found that while AI excitement is high, it's still early days for adoption: 60 per cent aren't familiar with AI, and only 31 per cent have tried any Generative AI tool.

At the same time, it also showed a strong, innate desire among Indians to improve and excel, with the majority seeking to boost productivity (72 per cent), enhance creativity (77 per cent), and communicate more effectively (73 per cent) in their daily lives.

Essar Energy Transition (EET) congratulates Eni and the UK Government on achieving financial close on the core carbon transport and storage project of the HyNet Industrial Cluster (the Liverpool Bay CCS).

"We are delighted that Eni’s construction phase will now begin on the infrastructure enabling HyNet; vital to massive reductions in carbon emissions and enabling much-needed investment, protecting and growing jobs and industries across North West England and North Wales," the company said.

EET’s Hydrogen Production Plant (HPP1) project is one of the four initial projects that will provide carbon to this infrastructure for permanent storage. HPP1 is expected to be the UK’s first large-scale low-carbon hydrogen production plant with a capacity of 350MW and capturing some 600,000 tonnes of CO2 per annum -- equivalent to taking 125,000 cars off the road.

The electric two-wheeler maker Ather Energy is set to launch its initial public offering (IPO) on April 28, but industry experts on Friday raised eyebrows over the company’s continued losses and lack of revenue growth.

Despite being one of the early players in India’s EV space, Ather has never reported a profit since it was founded in 2013 by Tarun Mehta and Swapnil Jain.

The company’s red herring prospectus (RHP) states that it has been making losses every year and there is no certainty about becoming cost-effective or profitable anytime soon.

In the financial year 2023–24, Ather Energy reported a pre-tax loss of Rs 1,059.7 crore. This is a sharp increase from its Rs 864.5 crore loss in FY23 and Rs 344.1 crore in FY22 -- showing a widening gap in its financial performance.

At the same time, its revenue in FY24 stood at Rs 1,753.8 crore, slightly lower than the Rs 1,780.9 crore it posted in FY23.

Maruti Suzuki India on Friday reported a 4.29 per cent drop in its net profit at Rs 3,711.1 crore for the fourth quarter of last fiscal (Q4 FY25), compared to Rs 3,877.8 crore in the same period in the previous fiscal.

According to its stock exchange filings, the company’s total expenses rose 8.55 per cent YoY to Rs 37,585.5 crore in the March 2025 quarter.

However, the company’s revenue from operations rose by 5.86 per cent year-on-year (YoY) to Rs 38,848.8 crore, up from Rs 36,697.5 crore a year ago.

The automaker also registered a slight growth in overall income, which stood at Rs 40,674 crore during the quarter, compared to Rs 38,235 crore in the year-ago period.