Page 1238 - Company News

GIC Re net profit rises 6.1% to Rs 732 crore in June quarter of FY24

GIC Re on Thursday reported a 6.1 per cent increase in net profit at Rs 732 crore in the June quarter, despite a steep fall in gross premium income and massive underwriting of losses

How Indian unicorns are forging profits out of funding winter's ice

"Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand," says Pranav Pai, founding partner at 3one4 Capital

CMS Info Systems promoter offloads 19.4% stake for Rs 1,071 crore

CMS Info Systems promoter Sion Investment Holdings Pte on Thursday divested a 19.4 per cent stake in the company for Rs 1,071 crore through open market transactions

Verizon Business inks pact with HCLTech for managed network services

On the other hand, Verizon Business will continue to lead all customer acquisition, sales, solutioning, and overall planning and development with its customers

Chemplast Sanmar completes first phase of Rs 680 crore expansion plans

The new production block is designed and constructed based on best-in-class safety standards for such a facility

Grasim Industries posts 56% Q1 profit drop on chemicals, textile slump

Prices of chemicals, including caustic soda, fell in the in the June quarter, leading to a 21.5% revenue drop in the company's second-largest business

Karnataka High Court stays order imposing Rs 50 lakh fine on X Corp

As such, on deposit of Rs 25 lakh, the order of the single judge bench is stayed until the next hearing date, the HC said

Jindal family-backed Shalimar Paints scripts new coming after stagnation

Jindal family-backed paint company taken up goal of modernising plants, enhancing capacity

Kirloskar Oil Engines Ltd profit rises 53% to Rs 126 crore in June quarter

Kirloskar Oil Engines Limited on Thursday reported a 53 per cent jump in consolidated net profit to Rs 126 crore in the June quarter

NCLT approves Zee Ent-Sony India merger, dismisses all objections

Zee Entertainment soars 18% after merger clearance

Adani prepared to go solo with $50 billion green hydrogen project

Earlier this year, French company Total Energies was reported to put plans to partner with the company in the venture on hold

Alibaba Group Holding's revenue beat estimates in first step of comeback

This year, Alibaba enlisted two co-founders to replace Daniel Zhang at the helm and oversee a complicated six-way split of its main businesses from the cloud to local and global e-commerce

Smartphone maker vivo to open 10 flagship stores in India by 2024

Smartphone maker vivo on Thursday said it plans to open 10 flagship stores in India by 2024.

Container Corp Q1 results: Profit falls 17% as costs rise, revenue slip

State-owned Container Corporation of India reported a more than 17% fall in first-quarter profit on Thursday after costs increased and revenue fell

SAIL Q1 results: Consolidated net profit drops 74% to Rs 212 cr,

State-owned SAIL on Thursday posted a 74 per cent fall in its consolidated net profit to Rs 212.48 crore in the April-June quarter, dragged by higher expenses.

Coupang to set up technology centre in India, begins recruitment drive

The Indian team will support the company's global technology team, sources said

Honeywell Automation India's profit growth slows as expenses climb

Engineering firm Honeywell Automation India reported its slowest profit growth in five quarters on Thursday, as expenses, led by the rising costs, outpaced revenue

PVR INOX launches standalone IMAX property at iconic Priya Cinema

Multiplex chain PVR INOX on Thursday announced that they have converted Priya Cinema, one of the first theatres they opened in the national capital, into a state-of-the-art standalone IMAX theatre

Amazon India enabled nearly $8 bn in exports, created 1.3 mn jobs

Amazon had pledged to digitise 10 mn MSMEs, enable $20 bn in cumulative e-commerce exports and create 2 mn jobs in India by 2025. Amazon said it was well on track to fulfil these pledges

Flipkart terms passage of data protection bill 2023 a 'good move'

The government expects to implement Digital Personal Data Protection Act 2023 within 10 months