Reuters India Business

By Nikunj Ohri NEW DELHI (Reuters) – India’s fiscal deficit for the year ending March 2024 is expected to be slightly better than the government’s projection of 17.35 trillion rupees ($207.81 billion), a government source told Reuters on Thursday. “Extra tax receipts and some non-tax revenues helped in bettering the fiscal deficit target,” the government …

India’s 2023/24 fiscal deficit seen slightly better than projected, source says Read More »

BENGALURU/NEW DELHI (Reuters) -India’s Bharat Petroleum Corp (BPCL) posted a smaller-than-expected fourth-quarter profit on Thursday, hurt by lower marketing margins and higher raw material costs. The state-owned firm’s standalone net profit fell nearly 35% to 42.24 billion rupees (about $506 million), well below analysts’ estimate of 52.66 billion rupees, per LSEG data. BPCL, the country’s …

India’s Bharat Petroleum misses Q4 profit view on lower marketing margins, higher costs Read More »

BENGALURU (Reuters) – Indian drugmaker Abbott India reported a 24% rise in fourth-quarter profit on Thursday, as strong sales outpaced the impact of government pricing caps on certain medicines. The company, which makes the popular antacid medicine Digene, said its profit rose to 2.87 billion rupees ($34.3 million) for the three months ended March 31, …

Drugmaker Abbott India posts Q4 profit rise on higher sales Read More »

BENGALURU (Reuters) – Indian generic drugmaker Alembic Pharma reported a 17% rise in fourth-quarter profit on Thursday, driven by strong sales, especially in the key North American market. Consolidated profit rose to 1.78 billion rupees ($21.3 million) in the three months ended March 31, from 1.53 billion rupees a year earlier. Indian generic drugmakers like …

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By Haripriya Suresh BENGALURU (Reuters) – Tata Consultancy Services, India’s top IT services firm, said its CEO K Krithivasan earned 253.59 million rupees ($3.04 million) in financial year 2024, making him likely the lowest-paid CEO among top the four Indian IT firms. The commissions tied to TCS’ annual profit made up for a key chunk …

TCS CEO Krithivasan earned $3 million in first year at top job Read More »

By Shivam Patel NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi and election rival Congress party leader Rahul Gandhi traded barbs about campaign funding on Wednesday, with both sides accusing the other of taking money from top industrialists Mukesh Ambani and Gautam Adani. Neither of the business leaders have made any public comment about …

Billionaires Ambani and Adani dragged into India’s election rhetoric Read More »