NEW DELHI (Reuters) – The Indian government’s net direct tax collection grew 15.4% year on year to 12.1 trillion rupees ($143 billion) during the period April 1-Nov. 10, according to a statement. Direct taxes, which include corporate and personal tax, grew over 21% to 15 trillion rupees on a gross basis during the period, the …
India’s net direct tax collection rises 15.4% in April-Nov Read More »
MOSCOW (Reuters) – India and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in October, traders said and LSEG data showed. Total fuel oil and VGO exports from Russian ports last month declined by 3% from September to about 4.15 million metric tons, according to Reuters calculations …
India, Saudi Arabia top buyers of Russian VGO and fuel oil in October, LSEG data shows Read More »
(Reuters) – India’s Oil and Natural Gas Corp (ONGC) reported a surprise rise in second-quarter profit on Monday, helped by a decline in tax expenses due to the scrapping of the levy on petroleum crude. The state-owned firm’s standalone profit jumped 17% to 119.84 billion rupees ($1.42 billion) in the quarter ended Sept. 30. Analysts …
India’s ONGC posts surprise Q2 profit beat on lower tax expenses Read More »
(Reuters) – Indian biscuit maker Britannia Industries posted a smaller-than-expected second-quarter profit on Monday, hurt by weaker demand for consumer goods, particularly in urban areas amid high inflation. The company, which sells Jim Jam and NutriChoice biscuits, reported a nearly 10% decline in consolidated net profit to 5.31 billion rupees ($62.95 million) for the three …
India’s Britannia misses Q2 profit view as urban demand slows Read More »
By Bharath Rajeswaran, Hritam Mukherjee and Shubham Batra (Reuters) – Top Indian companies registered their worst quarterly showing in more than four years for the July-September period, raising concerns that a lurking economic slowdown had begun to affect corporate earnings. More than 50% of the 44 firms in the blue-chip Nifty 50 index that have …
Slowdown worries mount in India as corporate earnings pressure markets Read More »
MUMBAI (Reuters) – India’s central bank on Monday released an operational framework for reclassifying equity investments made by foreign portfolio investors (FPI) that exceed the prescribed limit as foreign direct investment (FDI). Under the existing rules, notified by the government in 2019, investments made by foreign portfolio investors and their investor group should be less …
India cenbank issues operational framework for reclassification of FPI to FDI Read More »
(Reuters) – Indian Oil Corp’s Gujarat refinery operations were unaffected after a benzene storage tank caught fire, India’s top refiner said in a statement. The fire occurred around 3:30 p.m IST on Monday and the cause of the fire is yet to be ascertained, IOC said. IOC runs a 13.7 million metric tonnes per annum …
Indian Oil Corp says Gujarat refinery ops normal after benzene tank fire Read More »
(Reuters) – India’s Ramco Cements posted a nearly 75% fall in second-quarter profit on Monday, hurt by subdued demand in the monsoon season and falling prices. The company’s net profit after tax for its standalone business, which comprises its cement segment, dropped to 255.8 million rupees ($3 million) for the quarter ended Sept. 30 from …
India’s Ramco Cements posts Q2 profit plunge on muted prices, demand Read More »
By Sai Ishwarbharath B BENGALURU (Reuters) – German optical technology firm Carl Zeiss AG on Monday opened its first global capability centre (GCC) in India and said it plans to double its local workforce to 5,000 in the next three years. The centre, located in the southern city of Bengaluru, will host functions such as …
Zeiss opens tech-focussed centre in India, to double workforce in 3 years Read More »
(Reuters) – India’s Shree Cement topped second-quarter profit estimates on Monday, as higher-than-expected sales volumes helped mitigate low prices of the key construction material. The country’s third-biggest cement maker by market capitalisation reported a net profit of 931.3 million rupees ($11 million) for the three months ended Sept. 30, down 81% from year-ago. Analysts were …
India’s Shree Cement beats Q2 profit view on higher-than-expected volume growth Read More »
