Bharti Airtel reported a slight increase in consolidated net profit to Rs 1,612 crore in the first quarter (April-June) of FY24, up from Rs 1,607 crore during the same period last year. Sequentially, however, the net profit nearly halved from Rs 3,005.6 crore in Q4FY23. The company’s consolidated revenue for Q1FY24 increased 19… Continue reading Bharti Airtel’s consolidated Q1 net profit up marginally at Rs 1,612 crore
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Ambuja Cements to acquire Sanghi Industries in Rs 5,000 crore deal
Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr Ambuja-ACC and JK Lakshmi Cement lead race for Sanghi Cement acquisition Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand Adani Green Energy to… Continue reading Ambuja Cements to acquire Sanghi Industries in Rs 5,000 crore deal
Biz services provider Quess Corp profit falls 29% to Rs 48 crore in Q1
Leading business services provider Quess Corp has reported a 29.41 per cent decline in profit after tax at Rs 48 crore for the June quarter. The company’s profit after tax stood at Rs 68 crore in the corresponding quarter of the previous financial year, a company release said. It reported a revenue… Continue reading Biz services provider Quess Corp profit falls 29% to Rs 48 crore in Q1
Data protection Bill tabled, penalties of up to Rs 250 crore for leaks
The government on Thursday introduced in Lok Sabha a bill outlining the lawful collection, processing and safeguarding of private data, and prescribing penalties of up to Rs 250 crore in case of breaches. Digital platforms will need to take unconditional, free, specific, and informed consent from users presented in clear and plain language… Continue reading Data protection Bill tabled, penalties of up to Rs 250 crore for leaks
Consolidated net profit up 43% to Rs 673 crore
The consolidated net profit of Adani Enterprises Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 43.55 per cent to Rs 673.93 crore, compared to Rs 469.46 crore for the corresponding quarter of the previous year, the company said in a BSE filing. Sequentially, the net profit… Continue reading Consolidated net profit up 43% to Rs 673 crore
Temasek to invest Rs 1,200 crore in Mahindra Electric via preference shares
Mahindra Electric Automobile Ltd (MEAL), Mahindra & Mahindra’s electric vehicle arm, on Thursday, announced that investment firm Temasek would invest Rs 1,200 crore in the company in compulsorily convertible preference shares. With this, the company’s valuation will rise 15 per cent from Rs 70,070 crore to Rs 80,580 crore. “The securities subscription… Continue reading Temasek to invest Rs 1,200 crore in Mahindra Electric via preference shares
Consolidated net profit jumps 376% YoY to Rs 588 crore
The consolidated net profit of MRF Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 376.3 per cent to Rs 588.75 crore, compared to Rs 123.60 crore for the corresponding quarter of the previous year, the company said in a BSE filing. Sequentially, the net profit was up… Continue reading Consolidated net profit jumps 376% YoY to Rs 588 crore
Air India’s accumulated losses at FY23-end estimated at Rs 14,000 crore
The Tata group gained ownership of Air India in January 2022 (File) Air India’s total accumulated losses at the end of the financial year 2022-23 (FY23) have been estimated at Rs 14,000 crore, According to a report by The Economic Times (ET). Sources were quoted as saying that Tata Sons invested about Rs 13,000 crore… Continue reading Air India’s accumulated losses at FY23-end estimated at Rs 14,000 crore
NLC plans to set up 2,400 MW thermal plant in Odisha for Rs 19,422 crore
The plant will be set up at an investment of Rs 19,422 crore at Talabira in Odisha, the Ministry of Coal said in a statement on Wednesday. NLC India Ltd is planning to set up a 2,400 MW coal-based plant in Odisha. The plant will be set up at an investment of Rs… Continue reading NLC plans to set up 2,400 MW thermal plant in Odisha for Rs 19,422 crore
Two entities buy footwear co Campus Activewear shares worth Rs 124 crore
Societe Generale and ICICI Prudential Life Insurance Company on Wednesday bought shares of athleisure footwear company Campus Activewear for Rs 124 crore through open market transactions. According to the bulk deal data available with the NSE and BSE, ICICI Prudential Life Insurance acquired 25 lakh shares and Societe Generale bought more than 17.14… Continue reading Two entities buy footwear co Campus Activewear shares worth Rs 124 crore