Reuters India Business

By M. Sriram MUMBAI (Reuters) – Indian yoghurt maker Epigamia, backed by French dairy giant Danone, has shelved plans to sell its inflation-hit business and is now looking to expand to new markets, its CEO said in an interview. Founded in 2015 and backed also by Belgian investor Verlinvest, Epigamia is a small Indian startup …

Danone-backed Indian yoghurt maker Epigamia shelves plan to sell inflation-hit business Read More »

BENGALURU (Reuters) – India’s Zydus Wellness Ltd reported a drop in its fourth-quarter profit margins on Wednesday, as higher costs outweighed a rise in sales that was powered by price hikes for products such as Glucon-D energy drinks. The company’s shares fell nearly 4% after the results. Net profit for the Ahmedabad, Gujarat-based company rose …

India’s Zydus Wellness posts smaller profit margins as costs bite Read More »

CHENNAI (Reuters) – Jubilant Foodworks Ltd on Wednesday reported a near-71% slump in quarterly profit as the Domino’s Pizza’s Indian franchisee incurred higher expenses while inflation-hit consumers cut back on discretionary spending. Consolidated profit fell to 285.4 million rupees ($3.49 million) for the quarter ended March 31 from 967.6 million rupees a year ago. Total …

Domino’s India franchisee Jubilant reports 71% slide in Q4 profit as demand slows Read More »

By Jayshree P Upadhyay and Arpan Chaturvedi MUMBAI (Reuters) -India’s Supreme Court on Wednesday granted the country’s market regulator additional time till August 14 to complete its investigation into possible violation of securities law and regulatory disclosures by the Adani group. The court directed the Securities and Exchange Board of India (SEBI) to complete its …

India’s top court gives market watchdog 3 more months to finish Adani probe Read More »

By Arpan Chaturvedi NEW DELHI (Reuters) – Aircastle, a lessor to Indian budget airline SpiceJet Ltd, told a tribunal on Wednesday that settlement talks with the company over unpaid dues were inconclusive. The Ireland-based lessor earlier this month sought to initiate bankruptcy proceedings against SpiceJet over non payment of lease rentals and other dues. The …

SpiceJet’s offer to settle unpaid dues not good enough, lessor tells India tribunal Read More »

BENGALURU/CHENNAI (Reuters) – India’s Devyani International Ltd on Wednesday reported a 21% slump in fourth-quarter profit as the KFC restaurant operator saw a jump in expenses and inflation-hit consumers cut back spending on fast food. Consolidated net profit fell to 607.2 million rupees ($7.4 million) for the quarter ended March 31, the local franchisee of …

KFC-operator India’s Devyani’s profit falls on expenses, demand slowdown Read More »

By Siddhi Nayak MUMBAI (Reuters) – India’s Bank of Baroda does not foresee any challenges in adhering to the central bank’s proposed loan-loss mechanism given its improved asset quality ratios and will be able to maintain credit costs, a top official at the bank said. The state-run lender’s credit cost, the projected quantum of potential …

Bank of Baroda ‘well protected’ for switch to RBI’s new loan-loss proposal – CEO Read More »

By Dharamraj Dhutia and Siddhi Nayak MUMBAI (Reuters) – Indian banks put forth their concerns over elevated overnight rates at a money markets association meeting last week and have informally asked the Reserve Bank of India to help manage liquidity, senior treasury officials said on Wednesday. The weighted average overnight call money rate has remained …

Indian banks express concern over high overnight funding costs Read More »