Reuters India Business

Rupee ends flat on state-run banks’ dollar sales support, while outflows weigh

24 Oct 2024

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended largely unchanged on Thursday, as likely outflows from local equities prevented it from mirroring the rise in its Asian peers, although state-run banks’ dollar sales helped keep the currency above its all-time low. The rupee closed at 84.0775 against the U.S. dollar, compared with its …

Rupee ends flat on state-run banks’ dollar sales support, while outflows weigh Read More »

‘Magic Moments’ vodka maker Radico Khaitan posts Q2 profit rise on premium alcohol demand

24 Oct 2024

(Reuters) – India’s Radico Khaitan, which makes the popular “Magic Moments” brand of vodka, reported a 24% rise in second-quarter profit on Thursday on increasing demand for its premium alcohol. The company’s consolidated net profit rose to 806.6 million rupees ($9.60 million) for the three months ended Sept. 30. Its revenue from operations rose 9.5% …

‘Magic Moments’ vodka maker Radico Khaitan posts Q2 profit rise on premium alcohol demand Read More »

Indian shares slip for fourth session as Hindustan Unilever, foreign selling weigh

24 Oct 2024

By Bharath Rajeswaran and Hritam Mukherjee (Reuters) -Indian shares declined for a fourth straight session on Thursday, as Hindustan Unilever missed profit estimates on a slowdown in urban demand, dragging consumer stocks, while persistent foreign outflows hit market sentiment. The NSE Nifty 50 fell 0.15% to 24,399.4 points, while the BSE Sensex shed 0.02% to …

Indian shares slip for fourth session as Hindustan Unilever, foreign selling weigh Read More »

India’s Adani Total Gas posts bigger Q2 profit on steady CNG demand

24 Oct 2024

(Reuters) -India’s Adani Total Gas posted a bigger profit for the seventh straight quarter on Thursday, aided by higher sales of its compressed natural gas (CNG) amid the government’s push for wider use of gas-based vehicles. The company, part of the ports-to-power Adani conglomerate, said its consolidated profit grew 7.5% to 1.87 billion rupees ($22.24 …

India’s Adani Total Gas posts bigger Q2 profit on steady CNG demand Read More »

McDonald’s India operator Westlife misses Q2 profit view as consumers cut back

24 Oct 2024

(Reuters) -Westlife Foodworld, the operator of McDonald’s restaurants in west and south India, reported a nearly two-fold drop in quarterly profit on Thursday, missing estimates, on weak demand as cost-conscious customers cut back on spending. The restaurant operator’s consolidated profit after tax stood at 3.6 million rupees ($42,832.16) for the second quarter ended Sept. 30, …

McDonald’s India operator Westlife misses Q2 profit view as consumers cut back Read More »

India’s Adani Wilmar posts profit in Q2 on higher demand for edible oils

24 Oct 2024

(Reuters) – India’s Adani Wilmar reported a profit for the second quarter on Thursday, buoyed by higher demand for its edible oils and food segments. The company reported a consolidated net profit of 3.11 billion rupees ($37 million) for the quarter ended Sept. 30, compared to a loss of 1.31 billion rupees an year ago. …

India’s Adani Wilmar posts profit in Q2 on higher demand for edible oils Read More »

India’s LT Foods reports first profit drop in 13 quarters as raw material costs rise

24 Oct 2024

(Reuters) – India’s LT Foods posted its first profit decline in 13 quarters on Thursday, dragged down by higher input costs despite a healthy demand for its basmati rice, sending shares down 12%. The company, which makes ‘Daawat’ and ‘Royal’ basmati rice, said consolidated net profit dropped 4.9% to 1.48 billion rupees ($17.6 million) in …

India’s LT Foods reports first profit drop in 13 quarters as raw material costs rise Read More »

India’s ACC posts smaller-than-expected Q2 profit drop on steady volumes

24 Oct 2024

(Reuters) – Indian cement maker ACC reported a smaller-than-expected decline in second-quarter profit on Thursday, as steady volume growth helped mitigate a decline in cement prices and rising costs. The company’s profit after tax dropped 39% to 2.34 billion rupees (about $28 million) in the three months ended Sept. 30, but was above analysts’ average …

India’s ACC posts smaller-than-expected Q2 profit drop on steady volumes Read More »

Colgate Palmolive (India) posts higher Q2 profit on strong demand

24 Oct 2024

(Reuters) – Colgate Palmolive (India) reported a 16% rise in second-quarter profit on Thursday helped by its expansion into rural markets and demand for its premium personal care products. The toothpaste maker’s net profit rose to 3.95 billion rupees ($47 million) in the quarter ended Sept. 30, from 3.40 billion rupees a year earlier. In …

Colgate Palmolive (India) posts higher Q2 profit on strong demand Read More »

Disney Hotstar head Sivanandan quits after India merger with Reliance, sources say

24 Oct 2024

By Aditya Kalra NEW DELHI (Reuters) – The head of U.S. giant Disney’s Hotstar streaming app in India, Sajith Sivanandan, has resigned, three sources said on Thursday, as business integration gathers pace after the company’s $8.5 billion merger with Reliance’s India media assets. The resignation comes days after an internal decision for all live sporting …

Disney Hotstar head Sivanandan quits after India merger with Reliance, sources say Read More »

Close Bitnami banner
Bitnami