Top headlines: Infosys Q4 net rises 12%; PV sales dip nearly 4% in March

The sales of passenger vehicles in India witnessed a decline by nearly 4 per cent, the auto industry body SIAM said on Wednesday. While the Enforcement Directorate has summone the global vice president of Chinese mobile manufacturer Xiaomi, Manu Kumar Jain, for investigation in a probe related to alleged contravention of the foreign exchange law, the officials said. Read more such top headlines and related information in the section below.
 

Infosys Q4 results: Net profit rises 12% to Rs 5,686 cr; revenue up 23%

India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22.

The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing.

Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added. Read more

Exports up nearly 20% to $42 bn in March; trade deficit widens to $18.5 bn

The country's exports in March 2022 rose 19.76 per cent to $42.22 billion on account of healthy performance by sectors such as petroleum products, engineering, and leather, even as trade deficit during the month widened to $18.51 billion.

In March 2021, exports stood at $35.26 billion, according to commerce ministry data released on Wednesday. Read more

Passenger vehicle sales dip nearly 4% in March: SIAM data

Passenger vehicle wholesales in India declined nearly 4 per cent to 279,501 units last month, auto industry body SIAM said on Wednesday.

Passenger vehicle (PV) dispatches from factories to dealerships in March 2021 stood at 290,939 units. Read more

ED issues FEMA summons to Xiaomi global VP Manu Kumar Jain

The Enforcement Directorate (ED) has summoned the global vice president of Chinese mobile manufacturing company Xiaomi, Manu Kumar Jain, for questioning in a probe linked to alleged contravention of the foreign exchange law, officials said on Wednesday.

The federal probe agency, according to sources, is investigating the company and its executives under the provisions of the Foreign Exchange Management Act (FEMA) linked to foreign remittances worth crores made over the last few years. Read more