By Tanvi Mehta NEW DELHI (Reuters) -More than 90 flights at Tata Group budget carrier Air India Express have been disrupted since Tuesday night by cabin crew taking sudden sick leave, the airline said on Wednesday. “The disruptions have cascaded across the network, forcing us to curtail the schedules over the next few days,” Air …
Air India Express flights disrupted by crew taking sudden sick leave Read More »
By Kashish Tandon and Hritam Mukherjee BENGALURU (Reuters) -India’s national elections and global geopolitical tensions will hurt Indian engineering company Larsen and Toubro’s (L&T) order inflow and revenue in fiscal year 2025, the firm said on Wednesday, after reporting fourth-quarter results that beat analysts’ estimates. “We expect revenue growth to be at around 15% for …
India’s L&T forecasts lower revenue growth, order inflow for FY25 Read More »
BENGALURU (Reuters) – Sula Vineyards, India’s biggest wine maker by revenue, reported a 5% drop in fourth-quarter profit on Wednesday, as mounting expenses overshadowed steady demand for its premium brands such as Rasa and Dindori. The Mumbai-headquartered company’s consolidated net profit fell to 135.5 million rupees ($1.6 million) in January-March from 142.4 million rupees a …
Indian winemaker Sula Vineyards’ Q4 profit slips on mounting expenses Read More »
BENGALURU/MUMBAI (Reuters) -India’s Bank of Baroda said on Wednesday the central bank has lifted restrictions on onboarding customers through its mobile application. The Reserve Bank of India had stopped Bank of Baroda from adding customers to its mobile app in October, citing “certain material supervisory concerns,” without giving any details about the issues. The bank …
India’s Bank of Baroda says cenbank lifts ban on adding customers on mobile app Read More »
BENGALURU (Reuters) – India’s Piramal Enterprises posted a profit for the fourth quarter on Wednesday as it reversed some funds set aside for its investments in Alternative Investment Funds (AIF). The non-banking financial company reported a consolidated profit of 1.37 billion rupees ($16.41 million) for the quarter ended March 31, aided by a one-time gain …
India’s Piramal Enterprises posts Q4 profit on reversal of AIF provisions Read More »
By VarunVyas Hebbalalu and Meenakshi Maidas BENGALURU (Reuters) -Hero MotoCorp, India’s largest motorcycle maker by market share, reported a bigger-than-expected rise in fourth-quarter profit on Wednesday and said it will set up a unit in Brazil to make two-wheelers to bolster international sales. Two-wheeler sales have grown steadily in India over the years, including by …
India’s Hero MotoCorp posts Q4 profit beat, to set up two-wheeler unit in Brazil Read More »
By Ashna Teresa Britto BENGALURU (Reuters) -Westlife Foodworld, the operator of McDonald’s restaurants in west and south India, reported a 96% slide in fourth-quarter profit on Wednesday as inflation-weary consumers cut back spending on fast food even as franchisees tried to lure them with discounted prices. Shares of the company fell as much as 7.7% …
McDonald’s India franchisee Westlife’s profit nearly wiped out on frail demand Read More »
By Siddhi Nayak and Jaspreet Kalra MUMBAI (Reuters) – Indian banks’ plan to increase their technology spending to around 10% of their operating expenses to keep up with the surge in digital transactions as the central bank intensifies scrutiny on frequent outages, more than half a dozen bankers said. Banks were earlier spending between 6%-8% of …
Indian banks to step up IT spends as regulatory scrutiny rises Read More »
BENGALURU (Reuters) – Uncertainty around the ongoing elections in India could hurt automakers’ sales in May despite rising consumer interest for new model launches, a dealers’ body said on Wednesday. The world’s most populous nation began voting on April 19 in a massive general election where Prime Minister Narendra Modi is seeking a rare third …
Election uncertainty could hurt Indian auto sales in May, dealers’ body says Read More »
By Shivangi Acharya and Sarita Chaganti Singh MATHURA, India (Reuters) – Indian Prime Minister Narendra Modi has drawn up new targets to boost farmer incomes as he seeks to secure his legacy of reforming the world’s largest democracy and tries to assuage a key voting bloc disillusioned by his government’s past failures. Modi, who is …
