NEW DELHI: State-owned Indian Overseas Bank (IOB) on Wednesday reported 30 per cent rise in net profit at Rs 723 crore for December quarter 2023-24, on the back of improvement in core income and reduction in bad loans. The Chennai-based lender had earned a net profit of Rs 555 crore in the same quarter a […]
The Supreme Court judgment on ‘double taxation avoidance agreements’ in the Nestle case, coupled with the decision of the Swiss finance department to withdraw the most favoured nation status for India is expected to have a wider ramification on past investments made by Indian companies in Switzerland. Prashant Bhojwani, Partner, Corporate Tax, Tax & Regulatory […]
Public sector banks (PSBs), including State Bank of India (SBI), are poised for another stellar year in 2024-25, building on their record-breaking aggregate net profit of ₹1.46 lakh crore in 2023-24, according to the Finance Ministry. This ongoing exceptional performance is the result of a series of “transformative” reform measures implemented in recent years, particularly […]
Tata Power MD Praveer Sinha TIRUNELVELI: With three years left in his role as Tata Power MD, Praveer Sinha has set an ambitious goal to double the company’s profits and increase revenues by 60% by FY30. The strategic plan for the 114-year-old company was outlined on Friday, highlighting that renewable energy would contribute half of […]
The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned […]
Azim Hasham Premji-led Wipro Enterprises has said its consolidated revenue from operations increased 9.8 per cent to Rs 16,902 crore in the financial year ended March 2024 while its profit jumped 35 per cent to Rs 1,903.1 crore.According to an RoC (Registrar of Companies) filing, its total income, including other income, stood at Rs 17,761.3 […]
NEW DELHI: Rolled steel products manufacturer Aditya Ultra Steel Ltd has reported a net profit of Rs 5.87 crore for April-September period of 2024-25 and also announced setting up a 5 MW solar plant at Rajkot in Gujarat. The company in a statement on Saturday said its revenue from operations stood at Rs 312.39 crore […]
Grasim Industries Ltd reported a 45.64 per cent decline in its net profit, falling to Rs 1,100.16 crore for the September quarter, as a result of lower profits in its cement business and investments in the building materials and renewables sectors.The Aditya Birla Group‘s flagship company had reported a net profit of Rs 2,024.05 crore […]
Ant Group’s profit in June quarter surged 193%, marking a turnaround from its previous year’s decline following governmental restrictions. It reached approximately 7.5 billion as calculated by Bloomberg, based on Alibaba’s one-third ownership.Earlier, the company witnessed a 10% decline in the previous quarter. The Hangzhou-based fintech company contributed 2.48 billion yuan ($343 million) to Alibaba […]
NEW DELHI: IT firm Happiest Minds Technologies has posted a 15.2 per cent on-year decline in consolidated net profit to Rs 49.52 crore in the September 2024 quarter. It reported a net profit of Rs 58.46 crore in the year-ago period, according to a regulatory filing on Wednesday. Revenue from operations during the quarter under […]
