Reuters India Business

India’s Dilip Buildcon Q2 profit soars on steady infrastructure demand

7 Nov 2023

BENGALURU (Reuters) – India’s Dilip Buildcon reported a fourfold surge in second-quarter profit on Tuesday as the developer benefited from steady infrastructure demand in its urban and water supply business. Its consolidated net profit climbed to 686.3 million rupees ($8.24 million) in the quarter ended Sept. 30 from 170.1 million rupees a year earlier. The …

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India’s Tata mulls sale of Voltas home appliances business -Bloomberg News

7 Nov 2023

BENGALURU (Reuters) -India’s Tata Group is considering selling the home appliances business of Voltas, in which it has a nearly 30% stake, as the conglomerate expects difficulties in scaling it up in a competitive market, Bloomberg News reported on Tuesday. The considerations are at an early stage and Tata has not yet decided if the …

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Indian consumer goods sector sees 9% growth on rural revival – NielsenIQ

7 Nov 2023

BENGALURU (Reuters) – India’s consumer goods sector clocked a 9% growth in value in the July-September quarter as spending power improved in the hinterlands, according to a report by NielsenIQ on Tuesday. Rural markets showed continued recovery during the quarter, with sales volumes rising 6.4% from 4% in the June-quarter, the market research firm said. …

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India’s Zydus Q2 profit jumps on strong domestic, US demand

7 Nov 2023

HYDERABAD (Reuters) – Indian generic drugmaker Zydus Lifesciences Ltd reported a better-than-expected 53.3% jump in quarterly profit on Tuesday, led by the strong sales in the domestic market and the United States. Consolidated net profit was 8.01 billion rupees ($96.2 million) in the quarter ended Sept 30, compared with 5.23 billion rupees a year earlier. …

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India KFC operator Devyani International posts 43% drop in Q2 profit

7 Nov 2023

BENGALURU (Reuters) – India’s Devyani International reported a 43.2% fall in quarterly profit on Tuesday as a rise in raw material costs at the KFC and Pizza Hut operator overshadowed a bump in promotions-led demand at its fast-food chains. Consolidated net profit fell to 333.5 million rupees ($4.01 million) for the second quarter ended September …

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Indian poultry firm Venky’s swings to profit in Q2 on lower costs

7 Nov 2023

BENGALURU (Reuters) – Poultry firm Venky’s (India) returned to a profit in the second quarter on Tuesday, helped by lower expenses and better earnings per poultry unit sale. The Pune, Maharashtra-based company reported a standalone profit of 340.9 million rupees ($4.09 million) in the three months to Sept. 30, from a loss of 205.6 million …

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India’s Wipro asks employees to work from office thrice a week

7 Nov 2023

By VarunVyas Hebbalalu and Sai Ishwarbharath B BENGALURU (Reuters) – Wipro, India’s fourth-largest IT services provider, is mandating that all its employees globally work from office at least thrice a week from this month, according to a company-wide email seen by Reuters on Tuesday. Companies have been reversing or modifying their “remote work” policies as …

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