VA Tech WABAG, a leading Indian water technology company, has announced that it has secured an order worth $33.5 million (Rs 270 crore) for designing and building an industrial wastewater treatment plant at the Ras Tanura Refinery in Saudi Arabia. The order has been awarded by SEPCO III Electric Power Construction Corporation to provide engineering […]
RailTel Corporation of India Ltd has announced that it has received a work order worth Rs 124.90 crore for the implementation of unified communication infrastructure across the Western Railway zone. The project includes setting up IPMPLS LAN infrastructure, VOIP telephone exchanges, IP-based signaling and control communication systems. It also involves the replacement of existing UTN […]
Leading omni-channel retailer Shoppers Stop registered a steady 4% growth in total sales for the third quarter of FY24, despite demand headwinds impacting India’s retail sector. The growth was driven by non-apparel categories like beauty and watches/fragrances, which offset continued weakness in apparel sales. Shoppers Stop’s beauty business achieved record quarterly sales of INR 262 […]
Mumbai-based JSW Infrastructure Limited announced robust third quarter results for the period ending December 31st, 2023, driven by healthy cargo volume growth, operating leverage, and strategic expansion. Cargo volumes handled grew 17% year-over-year to 28.1 million metric tonnes in Q3 FY2024. Higher utilization rates at Paradip Iron Ore Terminal, Paradip Coal Terminal, and Mangalore Coal […]
Animal healthcare company Hester Biosciences’ quarterly revenues and profits declined on a year-on-year basis due to a sharp fall in its revenue from animal healthcare. Hester’s total standalone revenues for Q3 FY24 decreased by 7% to Rs 655.05 crore compared to Rs 707.73 crore in the year-ago period, mainly due to an 18% decline in […]
As India gears up for the presentation of its interim Budget for 2024, expectations are running high among various stakeholders. The interim Budget, often seen as a precursor to the full budget, sets the tone for the government’s financial strategy and policy direction for the upcoming fiscal year. Taxation: A Key Focus A central aspect […]
Bajaj Auto Ltd. registered a healthy 31% year-on-year increase in overall vehicular sales for November 2023, one of the country’s leading two and three-wheeler manufacturers stated today. The performance was led by the whopping 77% jump in domestic sales. According to the regulatory report submitted by the Pune-based company, Bajaj Auto clocked total sales of […]
As Indian IT services company Persistent Systems embarks on an ambitious growth strategy, it has brought on four new seasoned executives to strengthen its leadership team. Persistent has just added several industry veterans. Ayon Banerjee joined as Chief Strategy and Growth Officer from Boston Consulting Group, where he advised IT services companies on accelerating growth […]
Alexander Gerding, Managing Director of industrial chemicals manufacturer BASF India, struck an optimistic tone about the company’s long-term growth prospects in the country, despite the challenging global environment. Speaking during the Q2 FY2023 earnings conference call, Gerding highlighted several positive factors that make him confident about BASF India’s future. “I always say it’s not a […]
Pharmaceutical company Wockhardt recently announced its financial results for the second quarter and first half of fiscal year 2023, ending September 30th, 2023. The results show strong revenue growth of 11% in Q2 and first half of FY2023, driven by Wockhardt’s international businesses in the UK, emerging markets, and Ireland. Q2 FY2023 Revenue Up 11% […]
Leading stainless steel manufacturer Jindal Stainless Limited (JSL) has received a credit rating upgrade from CRISIL Ratings. The company’s long-term bank facilities and debt programme rating has been revised upwards from CRISIL AA-/Positive to CRISIL AA/Stable. Meanwhile, the short-term bank facilities rating has been reaffirmed at CRISIL A1+. This rating action factors in Jindal Stainless’ […]
Keystone Realtors Limited, a leading real estate developer in Mumbai, said it acquired a 16,152 sqm plot of land in Dahisar (East) for Rs 218.5 crores, one of its biggest purchases of land. The plot was purchased from Haren Textiles Private Limited and Harit Synthetic Fabrics Private Limited. According to the company, the land has […]
Mumbai-based Vakrangee Limited, a technology-driven company focused on building India’s largest network of last-mile retail outlets, announced a sharp increase in its profits for the second quarter ended September 30, 2023. The company’s profit after tax jumped 210.55% to Rs. 42.39 lakhs compared to the same quarter last year. EBITDA also rose 40.80% to Rs. […]
Wonderla Holidays Limited, India’s largest amusement park operator, has reported strong growth in revenue and footfalls for the second quarter ended September 30, 2023, indicating a recovery after COVID-19 disruptions. The company’s gross revenue grew 17% year-on-year to Rs 81.41 crore in Q2 FY2024, compared to Rs 69.73 crore in Q2 FY2023. Footfalls increased 6% […]
Mumbai-based FMCG company Jyothy Labs Limited announced robust results for the second quarter ended September 30, 2023. The company reported an 11.1% increase in net sales to Rs 732 crores compared to the same period last year. Net profit jumped 59.1% to Rs 104 crores versus Rs 65.4 crores in Q2 FY2023. The growth was […]
United Spirits Limited, India’s largest spirits company, has moved the Madhya Pradesh High Court against a Value Added Tax (VAT) demand of Rs 7 crore for financial year 2020-21. In a regulatory filing, United Spirits said it has filed a writ petition in the Jabalpur bench of the High Court challenging the demand raised by […]
Bengaluru-based business services provider Quess Corp reported robust top-line growth along with significant improvements in profitability. Quess Corp’s total revenue for Q2 FY2024 stood at Rs 4,748 crores, up 11% year-on-year. Profit after tax jumped 79% to Rs 71 crores compared to Rs 40 crores in Q2 FY2023. The company’s headcount increased to 547,000 in […]
Pune-based real estate developer Kolte-Patil Developers Ltd (KPDL) has reported strong operational and financial performance in the second quarter of FY 2023-24 (Q2 FY24), with healthy growth in new sales, collections and revenues compared to the same period last year. In its earnings release, KPDL said it achieved new sales of 0.98 million square feet […]
Titan Company Limited, India’s leading consumer lifestyle company and part of the Tata Group, today reported strong second quarter results for the period ended September 30, 2023. The company’s total standalone income grew 21% year-on-year to Rs 10,027 crore in Q2 FY2023-24. Profit before tax (PBT) rose 9% to Rs 1,261 crore from Rs 1,155 […]
Maruti Suzuki India Limited sold a total of 199,217 units in October 2023, registering its highest ever monthly sales, as per a company statement released today. The auto major had sold 167,520 units in October last year. Maruti’s domestic passenger vehicle sales stood at 168,047 units in October 2023, also an all-time high and up […]
