Despite the strain faced by the aviation sector in India, low-cost carrier SpiceJet reported net profit of Rs 261.7 crore and total income of Rs 3,145.3 crore for the quarter ending June 2019. Last year, it had a loss of Rs 38.1 crore on revenue of Rs 2,253.3 crore for the corresponding quarter last year. Operating expenses […]
Cadila Healthcare today said that the US FDA has classified its Moraiya factory near Ahmedabad as ‘official action indicated’ or OAI. OAI is one of the three types of classification that a plant inspection report is put under after an FDA inspection. The three classifications are ‘no action indicated’, ‘voluntary action indicated’ and ‘official action […]
Anuj Puri, chairman of Anarock Property Consultants, today called on the Reserve Bank of India to go for a cut of at least half a percentage point in the overnight interest rate to ensure that the real estate sector is revived. The call comes in the wake of a global slowdown in consumption and investment, […]
Pharma manufacturer Lupin said its Aurangabad factory has successfully obtained an Establishment Inspection Report (EIR) from the US FDA for its May inspection. The receipt of an EIR signifies the successful closing of the inspection as far as the company is concerned. Lupin’s Aurangabad facility is involved in the manufacture of Oral Solid Dosage, Oral […]
While it is no secret that Reliance Jio, India’s largest telecom operator by volume, is planning to introduce a new service that will combine on-demand TV, live TV, high-speed broadband, video conferencing, music and a host of other services, Bharti Airtel CEO Gopal Vittal indicated that his company too is about to launch such a […]
Bharti Airtel, one of the top three telecom companies in India, said it plans to shut down its 3G network across India over the next six months. “We intend to shut down 3G services by december,” said CEO Gopal Vittal today, speaking to investors. The company has already shut down the 3G network in Kolkata, […]
Maruti Suzuki, India’s largest carmaker, released the ‘first sketch’ of XL6 — its ‘premium three-row vehicle’ that is likely to take on the likes of XUV500 and Toyota Innova. The XL6 is based on the Ertiga platform, but offers upgraded features and is more ‘sporty’ with greater ground clearance than the Ertiga. The Ertiga itself […]
Bharti Airtel’s India numbers indicated that the company did indeed hit the bottom in the December quarter of last year, and continued to improve its numbers from then on. Airtel, which had seen its India revenue fall to Rs 14,768 cr in the December quarter, had improved it to Rs 15,241 cr in the quarter […]
Sanjay Kumar is a Delhi-based professional who does not consider himself very tech-savvy. But when he wanted to put up a refrigerator for sale, he turned to a classifieds site advertises heavily on TV, urging people to get rid of their superfluous goods. Within hours of putting up the ad, he was contacted by an […]
Mahindra & Mahindra Ltd. (M&M Ltd.), the second biggest home-growth automaker, reported a 15% fall in its July auto sales, shortly after Maruti Suzuki reported a 33% decline. Total domestic auto sales was down 16%, versus 35% for Maruti Suzuki. The decline in its Utility Vehicle sales, which account for about 40% of the company’s […]
Maruti Suzuki reported one of the worst auto sales declines in recent years, with sales in India falling 35.1% to 98,210 vehicles in July 2019. The company had seen a decline of 17.3% in its India retail sales in the previous month, which stood at 1.11 lakh. The decline in July was similar across the […]
Jagran Prakashan, which publishes India’s most widely distributed newspaper, the Hindi daily Dainik Jagran, today reported yet another quarter of continued pain as the media sector grapples with falling revenues and continuing encroachment by digital media. Despite expectations of a boost to revenue from general elections, the company actually reported a year-on-year decline. Advertising revenue […]
Milind Deora, head of Congress Party’s Mumbai unit who is known to be close to the business community of the country, said businessmen in the country are feeling uneasy about the current climate, but not speaking out due to fear. Deora, who was speaking in the context of the suicide of entrepreneur and businessman VG […]
Vodafone Idea officials admitted that the outflow of customers from the network after the company started blocking incoming calls of low-use customers has been more than what they had expected. “The churn has been higher than what we thought it will be,” CEO Balesh Sharma said in Monday. Sharma also admitted that the company is […]
Vodafone Idea CEO Balesh Sharma today said the company had managed to increase the speeds of its 4G networks by 50-70% in around half of its circles where it has merged Idea and Vodafone networks together. However, said Sharma, the market is yet to fully appreciate the improvement in speeds because of the experience that […]
Dabur, one of India’s biggest consumer brands specializing in products based on Ayurveda, today launched Babool Ayurvedic, a new variant of Babool, the most popular herbal toothpaste in India. Babool paste is named after Babool, the Hindi name for Acacia, which forms one of the ingredients. Even rivals like Patanjali and Himalaya have launched many […]
When Vodafone Idea and Bharti Airtel started cutting off the incoming call facility of low-spending customers around 4-5 months ago, the idea was to force these customers to stop using one of the SIM cards for incoming only. The idea was that if customers are forced to recharge their legacy numbers once every month for […]
Tata Motors, the biggest home-grown automaker, reported a loss of Rs 3,698 cr loss as UK subsidiary Jaguar Land Rover continued to bleed. The company had posted a loss of Rs 1,902 cr in the same quarter last year, and had reported a profit of Rs 1,117 cr in the preceding quarter (Jan-Mar). The biggest […]
Caplin Point Laboratories said it has received an Establishment Inspection Report (EIR) from the US FDA for a recently concluded inspection at the manufacturing plan run by its unit Caplin Steriles Limited. “This was the third successful US FDA audit at the plant since 2016,” the company said, referring to the June inspection. An EIR […]
Fitch Ratings has downgraded the long-term credit rating of Tata Motors by one notch to BB- from BB due to both domestic as well as JLR-related factors. The rating agency further kept a negative outlook on the company’s rating, pointing to various factors such as further uncertainty in Britain over its exit from Europe, increasing […]
