Reuters India Business

India’s Zee Entertainment Q2 profit rises on movies, subscription boost

9 Nov 2023

(Reuters) – India’s Zee Entertainment Enterprises on Thursday reported its first profit in three quarters, as strong demand for its movies and a pickup in subscriptions eclipsed a decline in advertisement revenues. The media and entertainment company posted an 8.9% rise in consolidated net profit to 1.23 billion rupees ($14.77 million)for the second quarter ended …

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India to get electric air taxis in 2026 via InterGlobe, Archer venture

9 Nov 2023

By Chris Thomas BENGALURU (Reuters) – InterGlobe Enterprises, which backs India’s top airline IndiGo, and U.S.-based Archer Aviation will launch an all-electric air taxi service in India in 2026 that will be “cost-competitive” with on-road services, the companies said Thursday. The partnership, should they get regulatory clearances, aims to capitalise on a growing need for …

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Abbott India’s Q2 profit climbs on strong sales

9 Nov 2023

BENGALURU (Reuters) – Abbott India, the local unit of U.S. healthcare firm Abbott Laboratories, reported a 17.7% rise in second-quarter profit on Thursday, driven by strong sales in its mainstay pharmaceuticals segment. Profit for the company, which makes pain-reliever ibuprofen under the brand name Brufen, rose to 3.13 billion rupees ($37.6 million) in the three …

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India’s Bayer Cropscience post jump in Q2 profit as rainfall recovery aids demand (Nov. 3)

9 Nov 2023

(This Nov. 3 story has been corrected to fix the U.S. dollar conversion of the profit value to $26.8 million, not $27.62 million, in paragraph 2) BENGALURU – Bayer Cropscience, the Indian unit of German drug and pesticide maker Bayer AG, reported a more than 37% jump in quarterly profit on Friday as rainfall recovery …

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Indian rice exporter KRBL posts Q2 profit drop on weak demand

9 Nov 2023

BENGALURU (Reuters) – KRBL on Thursday reported a 28.1% drop in second-quarter profit as India’s top exporter of branded basmati rice was hit by weakness in its mainstay agricultural segment. Consolidated net profit at the ‘India Gate’ basmati rice maker fell to 1.53 billion rupees ($18.37 million) for the quarter, from 2.13 billion rupees a …

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India equity mutual fund inflows rise in October; SIPs hit new high – data

9 Nov 2023

By Bharath Rajeswaran BENGALURU (Reuters) – Inflows into India’s equity mutual funds rose in October as investors continued to prefer small- and mid-cap funds on hopes of strong returns, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. Inflows into equity mutual funds rose 41.63% month-on-month to 199.57 billion rupees in …

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India weighs changes to improve uptake of production incentive scheme – sources

9 Nov 2023

By Shivangi Acharya and Sarita Chaganti Singh NEW DELHI (Reuters) – India is planning to ease and expand some norms for five sectors to help them better utlise its $24 billion industrial incentives aimed at boosting local manufacturing, two government officials said on Thursday. The 1.97-trillion rupees production-linked incentive scheme (PLI), launched in 2020, covers …

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India’s Reliance Industries raises $2.4 billion in mega local bond sale

9 Nov 2023

By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – Reliance Industries raised 200 billion rupees ($2.40 billion) on Thursday, in the largest bond issue by a non-financial Indian firm, by paying 40 basis points more than the government’s borrowing cost. The company’s 10-year bonds were sold at a coupon rate of 7.79%, according to merchant …

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Jockey India licensee posts Q2 profit fall on subdued demand

9 Nov 2023

BENGALURU (Reuters) – Page Industries, which licenses products of innerwear and loungewear brand Jockey International in India, reported a 7.3% fall in second-quarter profit on Thursday as inflation-hit consumers continued to cut back on spending. The Bengaluru-based company, which also operates in countries such as Sri Lanka and the United Arab Emirates, said its profit …

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