BENGALURU (Reuters) – India’s Adani Enterprises’ first-quarter profit more than doubled on Thursday as growth in its new energy division outweighed weakness in its key coal trading segment. Consolidated net profit rose to 14.55 billion rupees (around $174 million) for the quarter ended June 30, from 6.74 billion rupees a year ago, the company, which …
HYDERABAD/BENGALURU (Reuters) – Sun Pharmaceutical, India’s largest drugmaker by revenue, reported first-quarter profit above analysts’ estimates on Thursday, helped by strong sales of its chronic therapy and specialty dermatology drugs in the key U.S. and domestic markets. The Mumbai-based company’s net profit rose 40% to 28.36 billion rupees ($339 million) in the three months ended …
Indian drugmaker Sun Pharma beats Q1 profit expectations Read More »
By Siddhi Nayak MUMBAI (Reuters) – India’s third-most valued state-run lender Bank of Baroda expects to receive 100 billion rupees ($1.2 billion) through bad loan recoveries in the financial year ending March, led by corporate and small-ticket loans, its chief executive officer said on Thursday. The bank has a couple of corporate accounts under insolvency, …
BENGALURU (Reuters) -India’s Adani Ports and Special Economic Zone reported a 47% jump in quarterly profit on Thursday, as strong commercial activity in the world’s fifth-largest economy lifted cargo volumes. Shares of the Adani Group company were up 1.2% after the results, while the broader benchmark Nifty 50 gained 0.2%. India’s largest private port operator …
India’s Adani Ports logs 47% jump in Q1 profit on strong cargo volumes Read More »
BENGALURU (Reuters) – Akzo Nobel India reported a 4.3% rise in its first-quarter profit on Thursday, as demand for its paint products across different verticals picked up in June ahead of the monsoon. The maker of Dulux Paints said its consolidated net profit rose to 1.15 billion rupees ($13.74 million) in the quarter ended June …
Paint maker Akzo Nobel India reports Q1 profit rise on higher demand Read More »
(This July 31 story has been corrected to say Barclays India, not Barclays, in paragraph 9) By Dharamraj Dhutia and Jaspreet Kalra MUMBAI (Reuters) – Foreign banks have bought more than $16 billion worth of Indian bonds so far this year, taking only seven months to top the record purchases over the whole of last …
Foreign banks’ purchases of Indian bonds hit record high in 2024 (July 31) Read More »
By Anjana Anil and Anushree Ashish Mukherjee (Reuters) – Gold prices extended gains on Wednesday after Federal Reserve Chair Jerome Powell hinted that an interest rate cut could be on the table as early as September if inflation stays in line with expectations. Spot gold was up 1.2% at $2,437.39 per ounce as of 3:21 …
Gold climbs over 1% after Fed’s Powell hints at early rate cut Read More »
By Haripriya Suresh BENGALURU (Reuters) -Indian IT services company Infosys has received a tax demand of about $4 billion from the country’s tax authority, a tax authority document seen by Reuters showed. The demand relates to services received by Infosys from its overseas branches in various foreign countries and these so-called “import of services” are …
Indian IT services giant Infosys gets $4 billion tax demand Read More »
BENGALURU (Reuters) – Indian hospital chain operator Aster DM Healthcare reported a rise in first-quarter profit on Wednesday, helped by higher occupancy during the flu season. The company’s quarterly consolidated profit from continuing operations surged 81.3% to 810 million rupees ($9.7 million) from a year ago. This excludes a gain of 51.48 billion rupees in …
India’s Aster DM Healthcare’s Q1 profit rises on strong flu season-led demand Read More »
By Siddhi Nayak MUMBAI (Reuters) – Top Indian private lenders are seeing more farmers and rural borrowers delay loan repayments as unpredictable weather impacts output and rising agricultural costs stretch their incomes further, according to quarterly earnings reports and a dozen bankers. The largest five private banks have reported greater bad loan additions in the …
India’s top private lenders see farm loan defaults rising amid weak rural economy Read More »
