(Reuters) – India’s RR Kabel reported a 33% drop in second-quarter profit on Thursday, hurt by a sharp uptick in copper prices and weakness in demand for electrical goods. The company’s consolidated profit fell to 495.3 million rupees($5.9 million) for the three months ended Sept. 30 from 741 million rupees a year earlier. Revenue jumped …
India’s RR Kabel posts drop in Q2 profit on higher raw material costs Read More »
(Reuters) – Indian city-gas distributor Mahanagar Gas reported a 16.5% decline in second-quarter profit on Thursday, hurt by a surge in fuel costs. The state-backed natural gas distributor’s profit after tax fell to 2.83 billion rupees (about $34 million) in the quarter ended Sept. 30 from 3.39 billion rupees a year earlier, the company said …
India’s Mahanagar Gas posts Q2 profit drop on higher fuel costs Read More »
BENGALURU (Reuters) – The Indian government on Thursday approved a 10 billion rupee ($119 million) fund for its burgeoning space sector, with 40 startups expected to benefit as the country strives to win a significant share of the commercial space market by 2033. With funding ranging from 100 million to 600 million rupees depending on …
India approves $119 million fund for space startups Read More »
By Siddhi Nayak and Dimpal Gulwani MUMBAI/BENGALURU (Reuters) -India’s IndusInd bank reported an unexpected drop in second-quarter profit on Thursday due to stress in microfinance loans, which led to higher provisions, lower asset quality and narrow lending margins. Microfinance loans, or collateral-free loans to borrowers with annual income up to 300,000 rupees, comprised 9% of …
India’s IndusInd Bank posts unexpected Q2 profit drop as microfinance stress bites Read More »
(Reuters) – Indian agricultural chemicals firm Coromandel International posted a fourth straight fall in quarterly profit on Thursday, hurt by higher costs. Consolidated profit after tax fell 12.3% to 6.64 billion rupees ($79 million) for the quarter ended Sept.30 from 7.57 billion rupees a year earlier. Revenue from operations rose 6.4% to 74.33 billion rupees, …
India’s Coromandel International posts Q2 profit drop as costs rise Read More »
By Aditya Kalra NEW DELHI (Reuters) – Indian food delivery giant Swiggy is internally aiming for a company valuation of $12.5 billion-13.5 billion for its upcoming IPO, cutting its target by 10-16% due to market volatility, two people with direct knowledge said on Thursday. Swiggy was earlier targeting a $15 billion valuation for its $1.4 …
Swiggy cuts valuation target for IPO to $12.5 billion-13.5 billion, sources say Read More »
(Reuters) – India’s United Breweries reported a rise in second-quarter profit on Thursday, driven by higher demand for its small, but fast-growing premium beers. The Kingfisher beer manufacturer’s standalone profit jumped 23% to 1.32 billion rupees (nearly $16 million) for the three months to Sept. 30. The brewer, which is majority-owned by Netherlands-based Heineken, reported …
India’s United Breweries posts higher Q2 profit on strong premium beer demand Read More »
(Reuters) – Engine oil maker Castrol India reported a 6.7% increase in third-quarter profit on Thursday, driven by continued demand for its automobile lubrication products. The company, in which oil major BP has a 51% stake, said profit after taxes rose to 2.07 billion rupees ($24.6 million) in the July-September quarter, from 1.94 billion rupees …
Castrol India’s Q3 profit rises on persistent demand Read More »
(Reuters) – India’s Godrej Consumer Products reported a bigger-than-expected rise in second-quarter profit on Thursday, helped by a pick-up in rural demand. The Cinthol soap maker reported about 14% rise in consolidated net profit at 4.91 billion rupees ($58.42 million) for the quarter ended Sept. 30. Analysts, on average, expected a profit of 4.86 billion …
India’s Godrej Consumer beats Q2 profit view as rural demand picks up Read More »
By Arsheeya Bajwa and Deborah Mary Sophia MUMBAI (Reuters) -Nvidia will supply artificial intelligence processors to Indian companies such as Mukesh Ambani’s Reliance Industries, the chip giant said on Thursday, as it deepens partnerships to exploit a growing market. The U.S. company will supply its Blackwell AI processors for a one-gigawatt data centre Reliance is …
Nvidia to supply chips to Reliance, other Indian companies in AI push Read More »
