Reuters India Business

India’s Shree Cement posts 72.5% plunge in Q3 profit on weak demand, prices

30 Jan 2025

(Reuters) – India’s Shree Cement reported a slump third-quarter profit on Thursday, hurt by weak prices and a slowdown in activity in a seasonally weak period. The company’s consolidated net profit plunged 72.5% to 1.93 billion rupees ($22.3 million) in the quarter ended Dec. 31. Total revenue from operations dropped 12% to 45.73 billion rupees. …

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GAIL India’s pre-tax adjusted profit falls on higher costs, muted volume growth

30 Jan 2025

(Reuters) – Indian gas distributor GAIL reported a nearly 30% fall in third-quarter profit before one-off items and taxes on Thursday, as costs rose amid muted volume growth. Profit before exceptional items and taxes fell to 25.89 billion rupees ($298.9 million) in the December quarter from 36.94 billion rupees a year earlier. The country’s largest …

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Dabur India beats Q3 profit estimates on sustained rural demand

30 Jan 2025

(Reuters) – Consumer goods maker Dabur India reported third-quarter profit above estimates on Thursday, driven by continued demand in its core rural market. Shares of the company closed 3% higher after the results. Dabur’s consolidated profit rose 1.6% year-on-year to 5.22 billion rupees ($60.29 million) for the three months ended Dec. 31. Analysts, on average, …

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State-owned firms lead India’s benchmark indexes higher

30 Jan 2025

By Bharath Rajeswaran and Vivek Kumar M (Reuters) -India’s benchmark indexes advanced on Thursday, as state-owned companies gained on expectations of a government spending boost in the upcoming union budget, overshadowing a drop in IT stocks and Tata Motors. The Nifty 50 settled 0.37% higher at 23,249.5, while the BSE Sensex added 0.3% to 76,759.81, …

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Indian agrichem firm Coromandel posts bigger Q3 profit as demand recovers

30 Jan 2025

(Reuters) – Indian agricultural chemicals firm Coromandel International posted its first increase in profit in five quarters on Thursday, helped by a recovery in demand. The company’s consolidated profit after tax more than doubled to 5.12 billion rupees ($59.1 million) in the third quarter ended Dec. 31, from 2.31 billion rupees a year earlier. Revenue …

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India’s Adani flagship posts worst qtrly profit fall in 3 years on weak coal demand

30 Jan 2025

By Sethuraman N R (Reuters) -India’s Adani Enterprises, the flagship company of the Adani Group, on Thursday reported its biggest quarterly profit slump in three years in the third quarter, as a fall in power demand weighed on its key coal trading division. The company’s consolidated net profit declined to 578.3 million rupees ($6.68 million) …

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India’s Dr Lal Path Labs posts higher Q3 profit on steady testing demand

30 Jan 2025

(Reuters) – India’s Dr Lal Path Labs reported a 19% jump in its third-quarter profit on Thursday, led by continued demand for its bundle test offerings, sending its shares 3% higher. The company’s consolidated net profit rose to 967 million rupees ($11.2 million) in the three months to Dec. 31, from 813 million rupees a …

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India’s Adani Ports drops after slower cargo growth steers Q3 profit miss

30 Jan 2025

(Reuters) -India’s Adani Ports and Special Economic Zone missed third-quarter profit estimates on Thursday, as growth in cargo volumes slackened amid a slowdown in the world’s fifth-largest economy, sending its shares 6% lower in the afternoon trade. Consolidated net profit for the country’s top private port operator jumped 14% to 25.20 billion rupees ($291.1 million) …

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Banks, importers seen lapping up India central bank’s $5 billion FX swap

30 Jan 2025

By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – The Reserve Bank of India’s $5 billion dollar/rupee buy-sell swap auction on Friday is likely to see strong demand from lenders and corporate treasuries, six bankers said. The central bank will conduct a 6-month dollar/rupee buy-sell swap, one of its many planned measures aimed at injecting …

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Macquarie Asset owned Blueleaf to invest $400 million in Jakson Green’s India solar assets

30 Jan 2025

(Reuters) – Renewable energy platform Blueleaf Energy, owned by a Macquarie Asset Management managed fund, will invest $400 million in 1 gigawatt (GW) of solar projects of India’s Jakson Green in the northwestern state of Rajasthan, the companies said on Thursday. The investment will be made in three solar projects, which are expected to be …

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