Reuters India Business

Unilever’s India unit to buy ‘Minimalist’ beauty brand, sees near-term margin pressure

22 Jan 2025

By Praveen Paramasivam and Ananta Agarwal (Reuters) -Consumer goods maker Hindustan Unilever said on Wednesday it would buy the ‘Minimalist’ skin care brand and projected near-term margins at the lower end of its forecast range as it grapples with slowing urban demand. This is Hindustan Unilever’s latest investment in the beauty space as the conglomerate …

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Indian refiner BPCL’s Q3 profit misses estimates on lower margins, LPG losses

22 Jan 2025

(Reuters) – India’s Bharat Petroleum Corp Ltd (BPCL) reported a lower-than-expected third-quarter profit on Wednesday, due to lower marketing margins and losses in its liquefied petroleum gas (LPG) segment. The state-owned company’s standalone net profit rose about 37% to 46.49 billion rupees ($538.6 million) in the three months ended Dec. 31. Analysts had expected a …

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India’s Tata Communications posts Q3 profit growth on data services demand

22 Jan 2025

(Reuters) – India’s Tata Communications reported a 3.5% rise in its third-quarter profit on Wednesday, helped by steady demand for its data services. The firm’s consolidated profit before exceptional items and taxes rose to 3.86 billion rupees ($44.71 million) for the three months ended Dec. 31, from 3.73 billion rupees a year ago. Tata Communications …

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HDFC Bank hauls Indian benchmarks out of earnings, US tariffs gloom

22 Jan 2025

By Bharath Rajeswaran and Indranil Sarkar (Reuters) -India’s benchmark indexes ended strongly on Wednesday, boosted by gains in HDFC Bank after its quarterly results, after having spent the day struggling due to worries about earnings moderation and U.S. trade policy. The Nifty 50 rose 0.57% to finish at 23,155.35, while the BSE Sensex added 0.75% …

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Rupee ends higher on broad based dollar sales, uptick in Asian peers

22 Jan 2025

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Wednesday, tracking gains in most of its regional peers, while dollar-rupee forward premiums declined on the back of likely dollar-rupee buy/sell swaps conducted by the Reserve Bank of India. The rupee closed at 86.3225 against the U.S. dollar, up nearly 0.3% on the day. …

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India’s Heritage Foods posts 60% surge in Q3 profit, stock rises

22 Jan 2025

(Reuters) – India’s Heritage Foods posted a 60% rise in third-quarter profit on Wednesday, buoyed by strong demand for dairy products. The company’s shares reversed course to trade 3% higher after the results. The dairy products maker’s consolidated net profit stood at 430.5 million rupees ($5 million) in the three months ended Dec. 31, 2024, …

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India’s Polycab misses Q3 profit estimates on wires business slowdown, high copper prices

22 Jan 2025

(Reuters) – Polycab India reported a smaller-than-expected third-quarter profit on Wednesday, as a slowdown in its high-margin wires business due to excess supply crimped margins. The company’s shares slid as much as 6.4% in their biggest intraday decline since June 2024. Polycab’s consolidated net profit increased about 11% to 4.58 billion rupees ($53 million) in …

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Safran India eyes 70% revenue boost from Gaganyaan space flight, other space, defence deals

22 Jan 2025

By Nivedita Bhattacharjee BENGALURU (Reuters) – Safran’s India unit expects a nearly 70% revenue boost in 2025 from its defence and space business, fuelled by its work on India’s human spaceflight mission Gaganyaan and rising private-sector contracts, top executives told Reuters on Wednesday. The Paris-based jet engine maker, 11% owned by the French government, is …

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India’s budget likely to raise major subsidies by 8% to $47 billion in next fiscal

22 Jan 2025

By Sarita Chaganti Singh and Mayank Bhardwaj NEW DELHI (Reuters) – India is likely to raise spending on food, fertiliser, and cooking gas subsidies to 4.1 trillion rupees ($47.41 billion) in the next fiscal year, government sources said, a moderate 8% year-on-year increase to cover higher food and energy costs. Indian Finance Minister Nirmala Sitharaman …

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UltraTech unit India Cements posts wider Q3 loss on pricing, demand woes

22 Jan 2025

(Reuters) – India Cements reported a wider quarterly loss on Tuesday, hurt by soft demand and still-weak prices of the construction material, and also took one-time impairment charges. The company, owned by UltraTech Cement, said its losses before exceptional items and taxes, for the quarter ended December, widened to 3.07 billion rupees ($35.5 million), from …

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