Page 1918 - Company News

Biocon net profit rises 71% to Rs 144 cr in June quarter; revenue rises 23%

Biotechnology major Biocon on Wednesday reported a 71 per cent increase in consolidated net profit at Rs 144 crore for the June quarter on the back of robust growth across business verticals.

Cost for data breaches averaged Rs 17.6 cr in 2022, highest ever: IBM study

Industrial companies paid most for cyberattacks as 'threat magnitude' grows

5G spectrum auction extends to Day 3; govt receives Rs 1.49-trn bids so far

Though details of the bids are not announced as yet, ICICI Securities said its analysis shows that Jio has likely bid for the highest spectrum worth Rs 80,100 crore

Poonawalla Fincorp's consolidated Q1 net profit up 118% to Rs 141 crore

Poonawalla Fincorp's NIMs were up by 155 basis points YoY to 9.5 per cent

Hero MotoCorp selects Accenture to enhance supply chain, reduce costs

Accenture will use its zero-based supply chain approach to facilitate Hero MotoCorp's cost optimisation efforts

Boeing surprises with positive cash flow in Q2 but misses estimates

Boeing Co. reported a $193 million profit for shareholders in the second quarter, but the results fell short of Wall Street targets for earnings and revenue as its defense business weakened

Transport union protests Dunzo 'warning to riders' about supporting strikes

A Dunzo spokesperson said that the company is looking into the matter

Paytm says data 'safe' after report of cyber breach affecting 3.4 mn users

After cyber-security company Firefox Monitor claimed that Paytm suffered a massive data breach two years back that may have exposed data of over 3.4 million users, Paytm said that all data is 'secure'

'Absolutely no impact on flight ops': SpiceJet after DGCA cuts 50% flights

On July 6, the DGCA issued a show-cause notice to SpiceJet following at least eight incidents of technical malfunction in its aircraft since June 19

Blue Dart Express profit rises over three-fold to Rs 119 cr in April-June

Logistics service provider Blue Dart Express on Wednesday reported more than three-fold jump in consolidated profit after tax at Rs 118.79 crore in April-June 2022 quarter over the same period

HAL signs contract worth over $100 mn with Honeywell for HTT-40 engines

The Hindustan Aeronautics Limited (HAL) on Wednesday signed a contract worth over USD 100 million with Honeywell for supply and manufacture of 88 TPE331-12B engines/kits along with maintenance

Cabinet approves Rs 1.64-trn package for revival of BSNL: Vaishnaw

To de-stress the telco's balance sheet, Rs 33,000 cr statutory dues will be converted into equity and a similar amount of bank loans will be repaid through the issue of low-interest bonds

Spotify's quarterly revenue, user growth beats expectations in Q2

Premium subscribers, which account for most of the company's revenue, rose to 188 million, beating analysts' expectations of 187 million

Interest in pricey 700MHz band means enhanced 5G indoor coverage

The costliest 700 MHz band is ideal for coverage in high-density areas and deep data networks

Zomato allots shares worth Rs 200 crore to staff at Re 1 face value

Zomato, which is going through its worst phase at Dalal Street, has allotted nearly 4.66 crore shares to its employees from its employee stock option plan (ESOP) pool at the face value of Rs 1

Equity management firm Qapita acquires ESOP Direct in all cash-deal

Pune-based ESOP Direct provides solutions in equity compensation

Travel technology firm Spotnana raises $75 mn in Series B funding round

Spotnana said the Series B funding will help it in hiring and promoting its Travel-as-a-Service Platform

CFM ARC sells JBF Industries assets to Reliance Industries entity

RIL was the lone bidder for the company with a Rs 825-crore offer as against the dues of Rs 2,100 crore of banks

Mastercard enables 200,000 merchants for card-on-file tokenisation

Mastercard said it worked with 45,000 merchants, 34 issuing banks, 10 acquiring banks, and 30-plus token requestors (including all major payment aggregators) to create 90 million tokens

CCPA to challenge Delhi HC stay on service charge norms for hotels

Guidelines prohibit levy of service charge on food bills