By Arpan Chaturvedi and Jayshree P Upadhyay (Reuters) -India’s market regulator on Monday sought 15 more days to complete a probe into conglomerate Adani’s dealings with some offshore entities, while shares in the group’s firms slid after the surprise exit of a key business unit’s auditor. The Securities and Exchange Board of India (SEBI), due …
India regulator seeks more time for Adani probe; shares fall Read More »
HYDERABAD (Reuters) – Indian pharmaceutical company Divi’s Laboratories reported a 49.2% fall in quarterly profit, missing analysts’ estimates, as the generic drug maker grappled with pricing pressures in key markets like the United States. The company reported a consolidated profit of 3.56 billion rupees ($42.9 million) for the first quarter ended June 30, compared to …
India’s Divi’s Labs Q1 profit slumps on drug pricing pressures Read More »
By Nidhi Verma NEW DELHI (Reuters) – India’s Mangalore Refinery and Petrochemicals Ltd plans to phase out fuel exports in the next two to three years as it expands its local retail network to diversify its sources of revenue, its managing director said. MRPL, a subsidiary of state-controlled Oil and Natural Gas Corp, operates a …
Indian refiner MRPL to phase out exports as it adds retail outlets Read More »
NEW DELHI (Reuters) -India’s wholesale price index fell 1.36% year-on-year in July, but the decline was smaller than expected because of higher prices for food and some commodities. Economists polled by Reuters had estimated the wholesale price index for July would fall 2.70%. It fell 4.12% in June. In July, fuel and power prices fell …
India’s July wholesale price index falls less than expected on food prices Read More »
BENGALURU (Reuters) -Indian budget carrier SpiceJet on Monday reported its highest quarterly profit in four years, as a sharp drop in expenses due to fewer flights operated more than offset a fall in revenue – sending shares up 6%. The company’s profit for the first quarter ended June 30 came in at 2.05 billion rupees …
India’s SpiceJet posts highest profit in four years on lower costs Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -India’s Adani Ports on Saturday said Deloitte’s reason for quitting as auditor of the company was “not convincing or sufficient to warrant such a move” and the global firm had all the necessary information it required to conduct the process. Deloitte decided to resign from the …
India’s Adani Ports says Deloitte auditor resignation arguments not convincing Read More »
By Mayank Bhardwaj NEW DELHI (Reuters) – Ample monsoon rains have accelerated the planting of summer-sown rice in India, according to the latest farm ministry data, after a slow start to the sowing season that began in June. Crop-nourishing monsoon rains picked up in July and August, allowing farmers to plant 32.8 million hectares (81 …
Indian rice planting accelerates with revival of monsoon rains Read More »
By Brijesh Patel (Reuters) – Gold prices hovered near a one-month low on Friday and were heading for their third consecutive weekly dip, as the dollar and bond yields strengthened after data showed U.S. producer prices increased in July. After dropping to its lowest level since July 7 earlier in the session, spot gold was …
Gold set for third weekly fall on stronger US dollar, yields Read More »
BENGALURU (Reuters) – India’s National Aluminium Co (Nalco) reported a more than 40% fall in quarterly profit on Friday, dragged down by weak prices and demand. The state-run aluminium producer’s consolidated profit fell to 3.34 billion rupees ($40.34 million) in the first quarter ended June 30, from 5.58 billion rupees a year earlier. The company, …
India’s Nalco posts fall in first-quarter profit on lower aluminium prices Read More »
BENGALURU (Reuters) – India’s Patanjali Foods on Friday reported a 63.6% drop in first-quarter profit as high costs dented margins. The Ruchi Gold oil maker’s net profit after tax fell to 877.5 million rupees ($10.60 million) for the quarter ended June 30, from 2.41 billion rupees a year earlier. Total revenue from operations increased 7.7% …
India’s Patanjali Foods Q1 profit slumps over 60% as high expenses dent margins Read More »
