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BENGALURU (Reuters) -India’s Britannia Industries reported a near-36% jump in quarterly earnings on Friday as the Marie Gold biscuits maker stocked up its products in mom-and-pop stores across rural markets. Britannia, which also sells cakes and breads, posted a consolidated profit of 4.58 billion rupees ($55.4 million) in the first quarter ended June 30, compared …

Biscuit maker Britannia’s profit climbs 36% on packaged foods demand Read More »

BENGALURU (Reuters) – Indian pipe manufacturer Welspun Corporation reported a jump in first-quarter profit on Friday, aided by a strong demand for its line and stainless steel pipes. The company’s consolidated net profit rose to 1.65 billion rupees ($19.93 million) from 41.1 million rupees a year earlier. The company said it maintained a healthy order …

India’s Welspun Corp Q1 profit rises on higher demand for line pipes Read More »

NEW DELHI (Reuters) – India’s top court on Friday suspended opposition Congress party leader Rahul Gandhi’s conviction in a defamation case, enabling him to return to parliament and contest national elections due next year. Following are some reactions from lawmakers and politicians: K.C. VENUGOPAL, MEMBER OF PARLIAMENT, CONGRESS “Justice has prevailed. No force can silence …

India’s top court suspends Rahul Gandhi’s defamation conviction Read More »

By Francis Mascarenhas MUMBAI (Reuters) – *Photo essay: Amid the luxury towers and expansive villas of Mumbai’s most exclusive postcode, a crumbling apartment block exemplifies the risks some people are willing to take to live in one of the world’s most expensive property markets. Some 600 people, mainly middle-class civil servants and their families, live …

Some Mumbai residents risk safety for affordable, central housing Read More »

By Nidhi Verma, Marwa Rashad and Emily Chow NEW DELHI/LONDON/SINGAPORE (Reuters) – GAIL (India) Ltd is close to finalising a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, three industry and trade sources said. The deal would be …

Exclusive-India’s GAIL close to finalising Qatar LNG purchase deal- sources Read More »

BENGALURU (Reuters) -India’s Eicher Motors reported a bigger-than-expected jump in first-quarter profit on Thursday due to strong sales of its Royal Enfield motorcycles. The company’s consolidated net profit jumped 50% to 9.18 billion rupees ($111 million) in the April-June quarter, beating analysts’ average estimate of 8.50 billion rupees, per Refinitiv data. Eicher and other two-wheeler …

India’s Eicher tops profit estimates on strong Royal Enfield sales Read More »

By Arpan Chaturvedi NEW DELHI (Reuters) – India’s move to relax regulatory oversight of forest areas by modifying a 1980 law is drawing protests from environmental activists who fear the changes will lead to unchecked commercial activity and infrastructure development in green areas. The original law was aimed at curbing the degradation of forest land …

India’s changes to forest conservation law draw flak from environmentalists Read More »

BENGALURU (Reuters) – Pepsi India bottler Varun Beverages on Thursday reported a 26.2% jump in its second-quarter profit, underpinned by improved product mix, a slide in input costs and higher volume growth. The company, which has been making and bottling PepsiCo-branded drinks for three decades, posted a consolidated net profit of 9.94 billion rupees ($120.22 …

Pepsi India bottler Varun Beverages posts profit growth on steady volumes Read More »