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BENGALURU (Reuters) -India’s top e-scooter maker Ola Electric reported a bigger quarterly loss on Wednesday, hurt by subsidy cuts and a surge in depreciation costs, but said it was inching closer to breaking even in a key profit metric. The company, which made its trading debut last week, also said it would equip its e-scooters …

Indian EV maker Ola Electric’s Q1 hurt by subsidy cuts; break-even target close Read More »

BENGALURU (Reuters) -Indian miner Vedanta Ltd will sell a 3.3% stake worth more than $950 million in unit Hindustan Zinc, it said on Wednesday, bigger than the 2.6% stake it initially planned to hive off. Vedanta said it will sell 140 million Hindustan Zinc shares. That values the sale at 80.05 billion rupees (about $954 …

Indian miner Vedanta boosts stake sale in Hindustan Zinc to top $950 million Read More »

BENGALURU (Reuters) -Indian budget carrier SpiceJet reported a drop in first-quarter profit on Wednesday, as it flew fewer passengers amid legal and financial troubles. The company reported a standalone profit of 1.50 billion rupees ($17.9 million) for the quarter ended June 30, down 26.7% from last year. This excludes the business of its subsidiaries, including …

Indian carrier SpiceJet’s Q1 profit drops on fewer flights Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were little changed on Wednesday as broad-based profit booking offset gains in information technology (IT) stocks after softer U.S. producer prices data signalled cooling inflation in the country. The NSE Nifty 50 index was up 0.04% at 24,149.05 as of 10:34 a.m. IST, and the S&P BSE Sensex …

Indian shares flat as profit booking offsets IT gains Read More »

By Aditya Kalra NEW DELHI (Reuters) – Reliance and Walt Disney have offered to sell some channels to win faster antitrust approval for their $8.5 billion India media assets merger, but are resisting changes to cricket broadcast rights they own, two sources familiar with the matter said. Antitrust experts have warned that the Reliance-Disney merger, …

Exclusive-Reliance, Disney offer concessions to win antitrust nod for India media merger, sources say Read More »

BENGALURU (Reuters) -India’s largest two-wheeler maker Hero MotoCorp narrowly missed first-quarter profit estimates on Tuesday, hurt by weak average prices, even as sales remained strong. The company reported a standalone profit after tax of 11.23 billion rupees ($133.8 million) for the quarter ended June 30, up 36% from last year. Analysts, on average, expected a …

India’s Hero MotoCorp misses Q1 profit estimate on weak average prices Read More »

BENGALURU (Reuters) -India’s Apollo Hospitals Enterprise beat first-quarter profit expectations on Tuesday, driven by higher demand for its healthcare services. The hospital chain operator reported a consolidated net profit of 3.05 billion rupees ($36.3 million), up 83% from last year. Analysts were, on average, expecting a profit of 2.92 billion rupees, as per LSEG data. …

India’s Apollo Hospitals beats Q1 profit estimates on strong demand Read More »

BENGALURU (Reuters) – Indian retailer Nykaa reported a much smaller-than-expected quarterly profit on Tuesday, hurt by slowing growth in its mainstay beauty products and especially in apparel sales. The company, listed as FSN E-Commerce Ventures, said its consolidated net profit nearly tripled to 96.4 million rupees ($1.2 million) in the first quarter. However, that was …

Indian e-tailer Nykaa misses Q1 profit estimate as apparel sales slow sharply Read More »