 "Top headlines: HUL Q3 net rises 17%; Ind-Ra sees FY23 GDP growth at 7.6%")
Willing to assist FRL, including proposed infusion of Rs 7,000 cr: Amazon
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, reiterating its willingness and ability to assist FRL in addressing any financial concerns of FRL, within the framework of the agreements.
This includes the solution proposed in the term sheet between Samara Capital, and FRL, which contemplated an infusion of Rs 7,000 crore in FRL. Read more
HUL Q3 results: Net profit rises 17% to Rs 2,243 cr
FMCG major Hindustan Unilever on Thursday reported 17% jump in net profit at Rs 2,243 crore for the quarter ending December 31, 2021 as it gained market share in both urban and rural areas as India emerged from coronavirus-related lockdowns.. It posted net profit of Rs 1,921 crore in year-ago period.
Growth in the quarter was competitive and profitable with domestic consumer growth of 11%. Read more
India Ratings sees FY23 GDP growth at 7.6% on sustained govt spending
India Ratings & Research expects India’s real gross domestic product to grow 7.6 per cent in fiscal year 2022-23, helped partly by a continued government spending and favourable global trade outlook, the ratings agency said on Thursday.
“After a gap of two years, the Indian economy will show a meaningful expansion, as the real GDP in FY23 will be 9.1 per cent higher than the FY20 (pre-Covid level) GDP level. However, the size of the Indian economy in FY23 will be 10.2 per cent lower than the FY23 GDP trend value,” said Sunil Kumar Sinha, Principal Economist with India Ratings. Read more
3 killed, 20 injured in blast at Lahore's Anarkali market
At least three people were killed and 20 others injured on Thursday in a powerful blast at the Paan Mandi in Lahore's famous Anarkali market, where Indian commodities are sold, police said.
Lahore police spokesperson Rana Arif confirmed the death of three persons in the blast that shattered windows of nearby shops and buildings, Dawn newspaper reported. Read more
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