Top headlines: RIL Q1 net profit falls 7%; SC dismisses Telcos' plea on AGR

Business Standard brings to you the top headlines on Saturday

The AGR calculation row surfaced after the Supreme Court on September 1, 2020, allowed telecom companies to pay their AGR dues to the government in instalments spread over a 10-year period. The Supreme Court on Monday had observed that it had said not just once but twice and thrice that the AGR dues can’t be re-computed, and reserved the order. Read more on this and other top headlines

SC dismisses Vi, Airtel pleas seeking correction of AGR due calculation

In a blow to the telecom sector, the Supreme Court on Friday dismissed the petitions of Vodafone Idea and Bharti Airtel seeking correction of alleged errors in calculating the dues linked to adjusted gross revenue (AGR). With an accumulated debt of Rs 1.8 trillion, Vodafone Idea is likely to be the most adversely hit by the court verdict. Read more
 

RIL consolidated Q1 PAT falls 7% to Rs 12,273 crore, beats estimate

Mukesh Ambani-led Reliance Industries (RIL) posted a consolidated net profit (attributable to owners of the company) of Rs 12,273 crore for the first or June quarter of 2021-22 (Q1 FY22), a year-on-year (YoY) and quarter-on-quarter (QoQ) decline of about 7 per cent. Read more

At Rs 98,849 cr, Zomato most-valuable listing day company after Coal India

Ant Group-backed Zomato has emerged as the second-most valuable company after Coal India on listing day with a market cap of Rs 98,849 crore. Coal India, which made its stock market debut in October 2010 after a record Rs 15,200-crore IPO, had a market cap of Rs 2.16 trillion following its trading debut which saw its shares soar 40 per cent. Read more
 

High-paid jobs saw salary hike during Covid-19 lockdown, says PLFS

Jobs were lost, person-days in casual labour fell massively, and incomes of the lowest earning among the population were hit the most during the period when the nationwide lockdown of 2020 was in place, the latest data released by the National Statistical Office shows. Read more
 

Don't have fixed timeline to vaccinate all against Covid, says govt

There is no fixed timeline for completion of the ongoing vaccination drive in the country, the health ministry said in Parliament on Friday. “However, it is expected that all beneficiaries aged 18 years and above will be vaccinated by December 2021,” Bharati Pravin Pawar, minister of state in the health ministry, told the Lok Sabha. Read more

NCLAT refuses to stay Piramal Group's resolution plan for DHFL

The National Company Law Appellate Tribunal (NCLAT) on Friday refused to stay the resolution plan of Dewan Ho­u­sing Finance Corporation (DHFL) and its subsequent tak­e­over by Piramal Group over the plea filed by 63 Moons Technologies. Read more