BENGALURU (Reuters) – India’s MedPlus Health Services reported a marginal growth in third-quarter profit on Friday, as a surge in costs and tax expenses ate into growing revenue. The pharmacy operator and diagnostics services provider reported a consolidated net profit of 137.3 million rupees ($1.7 million) for the quarter ended Dec. 31, up 2.4% from …
India’s MedPlus posts muted Q3 profit growth as expenses weigh Read More »
BENGALURU (Reuters) – UPL, India’s top agrochemicals firm, reported a quarterly loss on Friday as it continued to grapple with inventory destocking and weak demand for its crop protection products.The herbicides and insecticides maker reported a net loss of 12.17 billion rupees ($146.84 million) in the quarter ended on Dec. 31, compared to a profit …
Indian agro-chem firm UPL posts quarterly loss on weak demand, destocking woes Read More »
By Milounee Purohit BENGALURU (Reuters) – The Reserve Bank of India will hold its key interest rate steady at 6.50% on Feb. 8, according to economists polled by Reuters who expected the central bank to keep rates unchanged until at least July, longer than some developed market central banks. After hiking its repo rate by …
RBI likely to hold rates until mid-year, first cut in Q3 2024 – Reuters Poll Read More »
BENGALURU (Reuters) – Whirlpool of India Ltd reported a nearly 13% jump in its third-quarter profit on Friday, supported by upbeat domestic demand for white goods. Consolidated net profit rose to 279.9 million rupees ($3.38 million) in the quarter ended Dec. 31, from 246.9 million rupees a year earlier. Revenue from operations in Whirlpool’s Indian …
Whirlpool’s Indian unit quarterly profit jumps on strong demand Read More »
By Savio Shetty MUMBAI (Reuters) – A lower-than-expected fiscal deficit target in India’s budget came as a surprise, even as it was expected to be fiscal-centric, the chief economist of credit rating agency ICRA told Reuters on Friday. “We had expected fiscal deficit at 5.3% of gross domestic product (GDP),” Aditi Nayar, also the head …
India’s lower fiscal deficit target a ‘surprise’ – ICRA’s Nayar Read More »
By Sethuraman N R and Bharath Rajeswaran (Reuters) – India’s benchmark Nifty 50 index hit an all-time high on Friday, lifted by gains in Reliance and information technology (IT) stocks, and as the government’s fiscal prudence in its budget also boosted sentiment. The NSE Nifty 50 index hit a high of 22,126.80 points, notching its …
India’s Nifty 50 hits all-time high, lifted by IT stocks, Reliance Read More »
CHENNAI/BENGALURU (Reuters) – KFC India operator Devyani International reported its slowest quarterly revenue growth since listing more than two years ago on Friday, as consumers cut back their spending on pizzas and fried chicken amid soaring inflation. Global fast-food restaurants in India have done everything from rolling out cheaper menu items and launching marketing campaigns …
KFC India operator Devyani’s revenue growth slowest since listing; costs spike Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Friday, aided by gains in its Asian peers and positive sentiment following the presentation of the domestic budget. The rupee was at 82.87 against the U.S. dollar as of 10:25 a.m. IST, higher by 0.11%, compared to its close at 82.9650 in the previous …
Rupee strengthens aided by uptick in Asian peers, forward premiums slip Read More »
(Reuters) -A U.S. unit of Indian education technology startup Byju’s has filed for Chapter 11 bankruptcy proceedings in the U.S. court of Delaware, listing liabilities in the range of $1 billion to $10 billion. Byju’s Alpha unit listed its assets in the range of $500 million to $1 billion, according to a court filing, which …
Indian edtech Byju’s US unit files for bankruptcy in Delaware Read More »
By Aditya Kalra and M. Sriram NEW DELHI (Reuters) -Billionaire Mukesh Ambani’s Reliance is close to merging its India media business with Walt Disney with a 51%-54% stake, a deal that values the U.S. giant’s Indian operations at just $3.5 billion, said three sources with direct knowledge. The valuation of Disney’s India unit is sharply …
Reliance, Bodhi Tree set for 60% stake in Disney India merger-sources Read More »
