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India’s Tribhovandas Bhimji Zaveri posts five-fold jump in Q1 profit

1 Aug 2023

BENGALURU (Reuters) – Indian jeweller Tribhovandas Bhimji Zaveri reported a nearly five-fold jump in first-quarter profit on Tuesday, as higher margins from premium pricing and lower expenses banded together to make up for its first revenue fall in 10 quarters. The company said its consolidated net profit rose to 113.7 million Indian rupees ($1.38 million) …

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India orders drugmaker linked to Cameroon cough syrup deaths to stop manufacturing

1 Aug 2023

NEW DELHI (Reuters) -The Indian government has ordered a drugmaker whose cough syrup was linked to the deaths of at least six children in Cameroon to stop manufacturing, it said on Tuesday, the fourth Indian company to face a crackdown over tainted medicines. The move comes as Indian regulators step up inspections at drugmakers after …

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At least five killed in Hindu-Muslim clashes south of New Delhi

1 Aug 2023

By Sakshi Dayal NEW DELHI (Reuters) -At least five people, including two police personnel, were killed in clashes between Hindus and Muslims that erupted on Monday around 50 km (30 miles) south of the Indian capital New Delhi, police officials told Reuters. The violence erupted after a Hindu religious procession passed through the Muslim dominated …

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India asks Tesla to copy Apple in pairing Chinese, Indian suppliers -sources

1 Aug 2023

By Nikunj Ohri, Shivangi Acharya and Aftab Ahmed NEW DELHI (Reuters) – As Tesla examines building a plant in India, officials have asked the company to emulate Apple in finding local firms to partner with any Chinese suppliers involved, according to three government sources with direct knowledge of the matter. Tesla has been in talks …

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India’s Godrej Agrovet posts higher Q1 profit as costs drop

1 Aug 2023

By Biplob Kumar Das BENGALURU (Reuters) – India’s Godrej Agrovet Ltd reported a 27.3% rise in first-quarter profit on Tuesday, aided by lower costs and growth in its animal feed and crop protection businesses. The company’s consolidated net profit rose to 1.05 billion rupees ($12.8 million) in April-June, from 827.1 million rupees a year ago. …

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India’s Thermax misses Q1 profit view on weak sales growth, exceptional cost

1 Aug 2023

BENGALURU (Reuters) – India’s Thermax on Tuesday posted a smaller-than-expected 1.7% rise in first-quarter profit, dragged by slow sales growth and an exceptional cost due to ongoing litigation. The company posted a consolidated net profit of 599.5 million rupees ($7.3 million) for the quarter ended June 30, compared to analysts’ estimate of 1.04 billion rupees …

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India’s Adani Total Gas reports 9% rise in Q1 profit on higher CNG sales

1 Aug 2023

BENGALURU (Reuters) – India’s Adani Total Gas reported a nearly 9% rise in first-quarter profit on Tuesday, helped by higher sales of compressed natural gas (CNG). The company, which distributes piped gas to various Indian cities, said consolidated profit rose to 1.50 billion rupees ($18.2 million) for the quarter ended June 30 from 1.38 billion …

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Crane collapse kills 16 workers in India’s Maharashtra state

1 Aug 2023

NEW DELHI (Reuters) – At least 16 workers were killed and several others were feared trapped after a crane collapsed during the construction of a bridge in the western Indian state of Maharashtra, officials said. Television footage showed mangled remains of the crane sprawled on the ground between pillars of the bridge near Shahapur area, …

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Cricket-Bumrah back from injury to lead India in T20 series against Ireland

31 Jul 2023

(Reuters) – India pace spearhead Jasprit Bumrah will return from a lengthy injury absence to lead the side against Ireland in the Twenty20 series next month, the Board of Control for Cricket in India (BCCI) said on Monday. The 29-year-old right-arm seamer has not played international cricket since last September and underwent rehabilitation following back …

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Castrol India’s second-quarter profit rises 9% on higher volumes

31 Jul 2023

BENGALURU (Reuters) -Engine oil maker Castrol India reported a 9% rise in second-quarter profit on Monday, helped by higher sales volumes. The Mumbai-based firm’s profit after tax rose to 2.25 billion rupees ($27.4 million) for the June quarter from 2.06 billion rupees a year earlier. Castrol’s revenue from operations increased 7.4% to 13.34 billion rupees. …

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