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Though he said that inflation was also likely to rise through most of this year, policymakers still expected the inflation rate to return to the 2% target in the next few years.

Financial Services continued to endure the worst of the unrelenting foreign selling with these investors pulling ₹12,745 crore from the sector in this period, after selling a similar amount in the first half of the month, taking the total selling in January to almost ₹25,000. In 2024, foreign investors offloaded financial shares worth ₹58,280 crore.

The company s consolidated losses in the December quarter widened to ₹799 crore compared to ₹574 crore a year ago, and revenue from operations was at ₹3,993 crore, a 31% yearly increase.

The lender s total income stood 19% higher at ₹785 crore, against ₹659 crore. Its assets under management grew 21% year-on-year to ₹23,976 crore at the end of December with the total number of loan accounts rising to 286,000.

After posting a 29% revenue CAGR over the past three years, the industry s revenue growth is expected to slow to 13% in FY25. In the first half of FY25, industry revenues stood at about ₹23,500 crore, but are expected to decline to around ₹20,500 crore in the second half.

Unlike a year ago, SBI did not have to make a ₹7,100-crore provision for employee pension and wages, boosting profit growth at the country s most-valued government-owned company.

Diversified conglomerate ITC reported a 7% year-on-year (YoY) decline its consolidated net profit at Rs 4,935 crore. Revenues, meanwhile, increased 8% YoY to Rs 20,350 crore.

Aurobindo Pharma reported a 10% YoY decline in net profit to Rs 846 crore for Q3FY25, mainly due to a decrease in US sales. However, the company achieved its highest-ever quarterly revenue at Rs 7,979 crore, driven by strong growth in Europe, growth markets, and the antiretrovirals segment.

Muthoot Microfin saw a 97% drop in net profit to Rs 4 crore in Q3, driven by higher provisioning costs of Rs 247 crore amidst economic uncertainties. Despite this, pre-provision operating profit rose 40% and total income increased by 18%. The company s gross loan portfolio grew by 8.3% year-on-year.

The Indian rupee weakened to an all-time low of 87.582 per dollar on persistent dollar demand and large-scale sales of local stocks by overseas investors. The currency faced additional pressure ahead of the monetary policy decision, with the Reserve Bank of India’s intervention only offering limited relief.