BENGALURU/CHENNAI (Reuters) – India’s ITC Ltd reported a bigger-than-expected rise in quarterly profit on Thursday, boosted by solid demand for tobacco products as well as other consumer goods. The cigarettes-to-hotels conglomerate’s profit rose 21% to 50.87 billion rupees ($622 million) in the quarter ended March 31, it said in an exchange filing. Analysts, on an …
India’s ITC beats profit estimates on steady demand Read More »
BENGALURU (Reuters) – India’s Swiggy said on Thursday its food delivery business achieved profitability in March, less than nine years since its inception. The company, which also offers grocery delivery services, had recorded a wider loss for the financial year 2021-22 on a surge in expenses, the Economic Times reported in January. Swiggy has had …
India’s Swiggy says food delivery business turned profitable in March Read More »
MUMBAI (Reuters) -State Bank of India, the country’s largest lender, on Thursday reported a more than 83% jump in fourth-quarter profit, led by a sharp drop in provisions on bad loans and healthy credit growth. Net profit was at a record 166.95 billion rupees ($2.04 billion)for the quarter ended March 31, compared with 91.14 billion …
India’s top lender SBI posts record quarterly profit in Q4, tops view Read More »
MUMBAI (Reuters) – The Reserve Bank of India likely sold dollars via public sector banks after the rupee weakened past 82.50 to the U.S. dollar on Thursday, its lowest in almost two months, three traders told Reuters. The rupee was at 82.4675 to the dollar, having fallen to 82.5575 earlier on worries over cash dollar …
Indian cenbank likely sold dollars to limit rupee’s decline –traders Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Thursday, in tandem with their Asian peers, amid indications that the United States was close to a deal to raise its debt ceiling. The Nifty 50 was up 0.33% at 18,242.30 as of 9:44 a.m. IST, while the S&P BSE Sensex rose 0.37% to 61,791.68. Asia-Pacific …
Indian shares rise on optimism over US debt ceiling talks Read More »
NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi this week trumpeted a flurry of investment by global companies as he tries to create more jobs ahead of a general election due in the first half of next year. Amazon.com Inc’s cloud computing division on Thursday became the latest company to announce an investment in …
Factbox-Amazon to Walmart, investors in India boost Modi ahead of vote Read More »
By Seher Dareen (Reuters) – Gold retreated on Wednesday as the dollar advanced after hawkish comments from U.S. Federal Reserve officials raised doubts over interest-rate cuts this year. Spot gold dropped 0.4% to $1,981.39 per ounce by 2:15 p.m. EDT (1815 GMT) after touching its lowest since April 27. U.S. gold futures settled down 0.4% …
Gold slips as dollar rises on hawkish cues from Fed officials Read More »
LONDON (Reuters) -Srichand Hinduja, the Indian-born billionaire leader of a global business empire and the patriarch of Britain’s wealthiest family, has died aged 87, his daughters said on Wednesday. Hinduja, known by his initials S.P., was suffering from dementia and his family said he had “passed away peacefully this morning.” He was chairman of the …
S.P. Hinduja, billionaire head of Britain’s richest family, dies at 87 Read More »
BENGALURU (Reuters) – Indian sustainable energy solutions provider Thermax Ltd posted a better-than-expected jump of 52% in fourth-quarter net profit on Wednesday, helped by a 16% rise in sales. Consolidated net profit rose to 1.56 billion rupees ($19.08 million) for the three months ended March 31, from 1.03 billion rupees a year earlier. Analysts, on …
India’s Thermax beats Q4 profit expectations on strong sales growth Read More »
BENGALURU (Reuters) – India’s GlaxoSmithKline Pharmaceuticals Ltd reported an 8.6% fall in its pre-tax profit for the fourth quarter on Wednesday, hurt by the government’s curbs on pricing of some essential medicines. Consolidated profit before tax dropped to 1.90 billion rupees ($23.23 million) for the quarter ended March 31, from 2.08 billion rupees a year …
India’s GlaxoSmithKline Pharma’s pre-tax profit falls on govt pricing caps Read More »
