Telecom infrastructure major Indus Towers posted a consolidated profit after tax of Rs 1,541 crore in the December quarter, the company said on Tuesday.
The company had posted a loss of Rs 708 crore in the year-ago period.
The company's consolidated revenue grew 6 per cent in the third quarter of the ongoing fiscal to Rs 7,199 crore from Rs 6,765 crore a year ago.
"Our third consecutive quarter of record tower additions demonstrated our robust operational performance. We expect our major customer's focus on its network expansion and the ongoing 5G rollouts to continue, yielding growth opportunities for us in the near term," Indus Towers Managing Director and CEO Prachur Sah said in the statement.
The company's total number of towers increased by 22,383 on a year-on-year basis to 2,11,775.
"The return on capital employed improved to 19.2 per cent as against 12.5 per cent on year-on-year basis. Third quarter of the financial year had an impact of Rs 2,270 crore due to provision for 

The company had posted a loss of Rs 708 crore in the year-ago period

Puravankara declared its earnings after market hours on Tuesday. Ahead of the earnings, its shares were down 6 per cent to close at Rs 220.90 on the Bombay Stock Exchange (BSE)

Its credit costs declined to 2.52 per cent from 2.67 per cent a year ago

Hospital chain Aster DM Healthcare on Tuesday said its shareholders have approved the proposal to hive off its Gulf business in a deal valued at USD 1.01 billion.
The proposed resolutions were passed with the requisite majority by shareholders on January 22, the company said in a regulatory filing.
Over 99 per cent of the votes polled were in favour of the deal, it added.
On November 28 last year, Aster DM Healthcare announced that it would separate its India and Gulf businesses by way of a deal worth over USD 1 billion.
The company stated that it has received approval from its board and subsidiary Affinity Holdings Pvt Ltd to separate the India and GCC businesses into two distinct and standalone entities.
Under the separation plan, Affinity entered into a definitive agreement with a consortium of investors led by Fajr Capital, a private equity firm headquartered in the UAE, to invest in Aster's GCC business.
Upon completion, the separation of the India and GCC businesses will ..

Aster DM Healthcare

Over 99 per cent of the votes polled were in favour of the deal

Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses

Byju's

Maruti Suzuki India has collaborated with Delhi Rail Division of Northern Railway to transport its Jimny cars to western ports through freight trains, which will be further transhipped in vessels to African nations, an official statement said.
According to the statement, Sukhvinder Singh, Divisional Railway Manager, flagged off the first freight train with 98 cars on Tuesday from Farukhnagar station in Gurugram to Pipavav Port (West Coast) in the presence of the senior officials of Maruti as well as Delhi Rail Division.
"Delhi Division, Northern Railway has become the preferred partner of Automotive Industries and in a major boost to increase export of automobile, M/s  Maruti Suzuki India Limited is now transporting Maruti Cars of Jimny model to Western ports, which are further being transhipped in vessels to African nations.
"The first rake was loaded on January 23, 2024, from Farukhnagar station to Pipava Port. The rake composition consists of 25 NMG (New Modified Goods) type ...

Maruti Suzuki

'This initiative will not only generate additional loading and revenue for the Railways, but it is also an environmentally friendly means of transporting automobiles by trains'

Fair trade regulator CCI on Tuesday said it has granted approval to JSW Group's proposed acquisition of a stake in MG Motor India Pvt Ltd.
MG Motor India is a wholly-owned subsidiary of Shanghai-headquartered SAIC Motor.
The deal is to be done through JSW Ventures Singapore Pte, a newly incorporated entity that is part of the Sajjan Jindal-led JSW Group.
The proposed transaction relates to the acquisition of up to approximately 46 per cent of the share capital of the MG Motor India Pvt Ltd along with certain special rights by the JSW Ventures Singapore Pte, as per the notice submitted to the Competition Commission of India (CCI) by the entities.
As per an update on CCI's website on Tuesday, the regulator has approved the proposed deal.

India launches probe into MG Motor as scrutiny on Chinese firms widens

MG Motor

MG Motor India is a wholly-owned subsidiary of Shanghai-headquartered SAIC Motor

The net advances grew by 18.5 per cent YoY and 3.9 per cent QoQ. Deposits stood at Rs 13.3 trillion, with CASA ratio at 39.4 per cent down 20 bps sequentially

ICICI Bank

The Competition Commission of India (CCI) on Tuesday said it has cleared Tata Electronics' proposed acquisition of Taiwan-based Wistron's operations in India.
Wistron Infocomm Manufacturing (India) operates an iPhone assembly plant near Bengaluru.
In October last year, Wistron Group announced it has agreed to sell a plant in Bengaluru to the Tata Group.
According to an update on the CCI's website on Tuesday, the regulator has cleared the deal between Tata Electronics and Wistron.
Tata Electronics proposes to acquire 100 per cent of the Wistron Infocomm Manufacturing (India) equity share capital from SMS Infocomm (Singapore) Pvt Ltd (SMS Infocomm) and Wistron Hong Kong Ltd (Wistron HK), as per a notice submitted to the regulator.
SMS Infocomm and Wistron HK owned 99.99 per cent while 0.01 per cent of the Wistron Infocomm Manufacturing (India) share capital on a fully diluted basis, respectively.
Wistron InfoComm Manufacturing (India) was incorporated in 2017 by the Wistron group.

iPhone

Wistron Infocomm Manufacturing (India) operates an iPhone assembly plant near Bengaluru

Renewable energy firm SAEL on Tuesday said it has secured USD 1 billion funds from various financial institutions, including Norfund, DFC, ADB, and Tata Cleantech, to finance its renewable energy portfolio.
The investment will be used to expand the company's solar and biomass projects, capitalising on the conducive market potential and government schemes in the renewable energy sector, a company statement said.
According to the statement, SAEL -- an Indian renewable energy company specialising in solar and waste-to-energy projects -- announced forging of partnerships and securing financial closure for capital totalling up to USD 1 billion at an event in New Delhi.
The event was attended by the Ambassador of Norway, Deputy Chief of Mission, United States, and other dignitaries.
Norfund, DFC, ADB, Tata Cleantech were the major participants in the capital raise, besides other financial institutions.
In addition to the USD 1 billion partnership announcement, the SAEL has plans to comp

solar projects

The event was attended by the Ambassador of Norway, Deputy Chief of Mission, United States, and other dignitaries

The company is focusing on rebuilding its core business and will double down on recent attempts to jump on to the next big bandwagon in education

The funding deal volume fell by a sharper 72% in 2023 to 1,444 deals as compared to 5,114 deals in 2022

startup funding deals fell to lowest since 2018 in 2023

Bengaluru-based space start-up Pixxel plans to launch a series of small, home-built satellites -- Fireflies -- from June that could have a finer look at the Earth with its five-metre resolution hyper-spectral imagery.
Pixxel recently launched its satellite manufacturing unit -- Mega Pixxel -- in Bengaluru where it can assemble, integrate and test 40 satellites weighing 100 kilogrammes every year as the nascent company aims to take a leap in the space sector.
"If you are looking at 100-kilogramme micro-satellites which are able to do a whole lot of stuff in terms of actual commercial viability, we can do 20 of them at a single point in time. The turnaround time from getting them assembled to ship-to-launch is about six months. That makes it 40 every year," Awais Ahmed, founder and CEO Pixxel, told PTI.
Ahmed said Pixxel aims to launch six 100-kilogramme satellites, named Fireflies, by June, and add another 12 next year to monitor in over 250 spectral bands at five-metre spatial ...

satellite rocket space

Pixxel raised USD 36 million in Series B funding last year from Google, Lightspeed and other investors. So far, it has raised USD 71 million since its founding in 2018

Despite the shift towards a family-centric approach, Mehta assured customers that the Rizta will uphold the quality and reliability synonymous with the Ather brand

Ather, Ather Energy

Airtel is leveraging NB-IoT tech and a suite of offerings, he says

Ganesh Lakshminarayanan

Debashis Chatterjee speaks about the overall demand environment and company's strategy

LTIMindree CEO & MD Debashis Chatterjee

He talks about how the company is focusing on going fully electric and moving away from petrol and diesel powertrains

Shailesh Chandra, Tata EV, Tata Passenger Electric Mobility, TPEML, TPEML MD, MD Chandra

At the end of the third quarter, our patents portfolio stood at 1,249, out of which 811 are co-authored with customers and the rest are filed by LTTS

Amit Chadha, the CEO and MD of LTTS

He says that the recent Reserve Bank of India norms on increased risk weights on unsecured loans impacted the capital adequacy ratio by 100 bps

V Vaidyanathan, BFSI Summit, MD & CEO, IDFC First Bank

Sekhon says India's low-correlation with other key markets makes it an ideal bet for diversification

Manraj Sekhon, Templeton Global Investments

The managing director (MD) and chief executive officer (CEO) of the Kerala-based South Indian Bank, Seshadri talks about his priorities, the bank's growth roadmap and third quarter numbers

P R Seshadri, Managing Director and chief executive officer of the Kerala-based South Indian Bank

Bhatuda says that as far as passing of the reduction of rates to customers is concerned, the same will follow the interest rate movement across the industry

Call data records revealed that Abhay Bhutad, MD and CEO of Poonawalla Financewas involved in the dealing-making process and allegedly passed on unpublished price sensitive information to some connected entities

Abhay Bhutada, Poonawalla Finance

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