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Jio Platforms net profit rises 8.8% to Rs 3,795 crore in December quarter
Business

Jio Platforms net profit rises 8.8% to Rs 3,795 crore in December quarter

Gross revenue from operations increased by 5.76 per to Rs 24,176 crore from Rs 22,858 crore in the October-December 2020 period

TV18 Broadcast Q3 Results: Net profit jumps 35% sequentially to Rs 312 crore
Business

TV18 Broadcast Q3 Results: Net profit jumps 35% sequentially to Rs 312 crore

We are building a strong and sustainable media franchise which not only delivers quality content to Indian audience but also value to the shareholders, said chairman Adil Zainulbhai

TV18 Broadcast Q1 Results: Operating profit jumps 323%, revenue rises 49%
Business

TV18 Broadcast Q1 Results: Operating profit jumps 323%, revenue rises 49%

The company posted a 16.2 percent jump in operating margin highest ever during the first quarter. The operating margin was 5.7 percent in the corresponding quarter last fiscal

Crisil affirms AA-negative, A1-plus on Vedanta's debt instruments, bank facilities; operating profitability in FY21 likely to be lower
Business

Crisil affirms AA-negative, A1-plus on Vedanta's debt instruments, bank facilities; operating profitability in FY21 likely to be lower

Vedanta is expected to undertake cash preservation measures such as reduced capital expenditure (capex) and limited dividend payout in fiscal 2021.

Dr Reddy's Q4 profit jumps 76% to Rs 764 cr on higher sales in US, Europe; revenue up 10% at Rs 4,432 cr
Business

Dr Reddy's Q4 profit jumps 76% to Rs 764 cr on higher sales in US, Europe; revenue up 10% at Rs 4,432 cr

Dr Reddy's said various initiatives have been undertaken to ensure that our manufacturing-related operations continue unabated enabling it to serve the patients.

Taking Vedanta private will give Anil Agarwal-controlled parent firm access of company cash; deal credit positive: Moody's
Business

Taking Vedanta private will give Anil Agarwal-controlled parent firm access of company cash; deal credit positive: Moody's

On 18 May, Agarwal-chaired board of directors of Vedanta Ltd approved its parent, VRL's open offer.

Adani Gas Q4 profit up 61% at Rs 122 cr; pandemic impacts current demand for CNG, PNG from industrial segment
Business

Adani Gas Q4 profit up 61% at Rs 122 cr; pandemic impacts current demand for CNG, PNG from industrial segment

Adani Gas said it will ensure that during this period of crisis, the supply of PNG and CNG is maintained without any interruption.

Novelis Q4 sales dive 12% to $2.7 bn as commodity prices fall, shipments decline; firm on capacity additions
Business

Novelis Q4 sales dive 12% to $2.7 bn as commodity prices fall, shipments decline; firm on capacity additions

For the full year, Novelis net sales decreased 9 percent from the prior year to $11.2 billion, driven by lower average LME aluminum prices and local market premiums.

Fitch downgrades Tata Motors, cites cash flow issues; move to have negative impact on company's debt profile
Business

Fitch downgrades Tata Motors, cites cash flow issues; move to have negative impact on company's debt profile

The negative outlook reflects risks to Tata Motors' financial profile from a prolonged pandemic that can result in further deterioration in its profitability.

NCLAT allows JSW Steel to acquire Bhushan Power for Rs 19,700 cr; grants immunity from prosecution by ED
Business

NCLAT allows JSW Steel to acquire Bhushan Power for Rs 19,700 cr; grants immunity from prosecution by ED

A two-member bench headed by Chairman Justice S J Mukhopadhaya, said that JSW Steel will be immuned from the acts done by the former promoters of Bhushan Power & Steel.

RIL consolidated profit surges 13.5% to record Rs 11,640 cr in Q3 on strong growth in telecom, retail verticals
Business

RIL consolidated profit surges 13.5% to record Rs 11,640 cr in Q3 on strong growth in telecom, retail verticals

Consumer businesses, which till last year accounted for a quarter of RIL's pre-tax profit, contributed a third of EDITDA in the third quarter.

Ashok Leyland shares plunge 7% in early trade after company reports 93% plunge in Q2 results
Business

Ashok Leyland shares plunge 7% in early trade after company reports 93% plunge in Q2 results

Revenue stood at Rs 3,929 crore for the second quarter, down 48% as compared with Rs 7,621 crore in the year-ago period, Ashok Leyland said in a regulatory filing.

Airtel Africa Q2 net profit up 78% at $96 mn driven by growth in customer base; revenue grows 9.8% to $844 mn
Business

Airtel Africa Q2 net profit up 78% at $96 mn driven by growth in customer base; revenue grows 9.8% to $844 mn

The revenue of Airtel Africa grew 9.8 percent to $844 million during the reported quarter from $769 million in the corresponding quarter of 2018-19.

IMF report warns of rising risks in economy, Reliance in bullish trend; all this and more on Moneycontrol Pro
Business

IMF report warns of rising risks in economy, Reliance in bullish trend; all this and more on Moneycontrol Pro

The IMF says that ultra-low and negative interest rates have led to a desperate search for yield among investors, leading to overvaluation of assets.

RIL AGM 2019: Mukesh Ambani’s promise of zero net-debt firm in next 18 months is music to ears of shareholders
Business

RIL AGM 2019: Mukesh Ambani’s promise of zero net-debt firm in next 18 months is music to ears of shareholders

Going by Ambani’s speech at the AGM, RIL already has received strong interests for the stake buy in Reliance Jio and Reliance Retail which will help the firm generate fresh cash flow.

Brewing giant AB InBev seeks to raise $9.8 bn for Asia unit in world's largest IPO this year; deal to be a welcome boost to Hong Kong
Business

Brewing giant AB InBev seeks to raise $9.8 bn for Asia unit in world's largest IPO this year; deal to be a welcome boost to Hong Kong

AB InBev has previously said an IPO of its Asia business could help create a brewing champion for the region such as Budweiser or Corona.

Essar Steel reports Rs 4,229 cr EBITDA during Corporate Insolvency Resolution period
Business

Essar Steel reports Rs 4,229 cr EBITDA during Corporate Insolvency Resolution period

Insolvency resolution proceedings of Essar Steel had commenced on 2 August 2017

Tata Steel shares zoom over 7% after Q4 results, biggest gainer on both key indices
Business

Tata Steel shares zoom over 7% after Q4 results, biggest gainer on both key indices

Tata Steel share advanced 6.67 percent to close at Rs 545 on the BSE. During the day, it zoomed 7.26 percent to Rs 548