Page 32 - Companies

Mindspace REIT's Q2 net operating income jumps 18% to Rs 491 crore

Mindspace Business Parks REIT has posted an 18 per cent increase in its net operating income (NOI) to Rs 491 crore for the second quarter of this fiscal. Its NOI stood at Rs 417 crore in the year-ago period. The revenue from operation rose 21 per cent to Rs 600 crore in the July-September period from Rs 497 crore in the corresponding period of the previous year, according to a regulatory filing on Monday. Mindspace REIT has declared a distribution of Rs 284 crore or Rs 4.79 per unit for the second quarter of this fiscal. Of this, around 90 per cent is in the form of dividends, tax-exempt in the hands of unitholders. Ramesh Nair, Chief Executive Officer of K Raheja Corp Investment Managers, the manager of Mindspace REIT, said, "We have had a good quarter in terms of NOI growth". "India's tech prominence and growing office space demand, driven by GCCs, is promising, and the IT industry considering a return to a 5-day office week is encouraging. "While short-term challenges are exp

Relief for Zee Entertainment's Punit Goenka as SAT sets aside Sebi's order

With this, Goenka can now be appointed as the Managing Director (MD) of the merged entity

Space-tech company Skyroot raises $27.5 mn in funding round led by Temasek

Skyroot plans to utilise the newly acquired capital to drive its next growth phase

CCAvenue.ae launches mobile-based QR Code payment solution in the UAE

This is the company's first foray into the offline payment space in the UAE market

Sun Pharma and Zydus Lifesciences partner to market kidney drug Desidustat

Under this licensing agreement, Zydus has granted Sun Pharma semi-exclusive rights to co-market Desidustat in India

Majority organisations' very concerned' on impact of data law: EY study

While the rules that would provide exact processes of the DPDP Act are yet to be notified, the government has consistently claimed that large organisations must not require much time to comply

Piramal Pharma clocks 11% revenue growth in quarter ending September

Company's Ebitda grows 44% year-on-year, Chairperson Nandini Piramal anticipates a stronger financial performance in H2

Dr Reddy's Laboratories Q2 results: Net profit rises 33% to Rs 1,480 crore

The company said that the Ebitda was enabled by geographic diversification and productivity improvement in operations

IndiaMart Q2 result: Consolidated net profit at Rs 69.4 cr, revenue up 23%

The revenue from operations for Q2FY24 came in at Rs 296.96 crore, compared to Rs 240.66 crore year-on-year (y-o-y), registering a rise of 23.39 per cent

Tamilnad Mercantile Bank Q2 net profit increases 5% to Rs 274 crore

The bank's total income during the period was up by 16 per cent, from Rs 1,141 crore in September 2022-23 to Rs 1,365 crore in the second quarter of FY24

Suzlon secures order for 3 MW series turbines from Juniper Green Energy

Under the terms of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including, the erection and commissioning

See huge opportunity to expand in Tier-II, says Marks & Spencer India

Ritesh Mishra, managing director at M&S India, said, "Tier-II cities are of paramount importance to us, as there is still room for growth in Tier-I markets"

ACC Ltd Q2FY24 result: Consolidated net profit at Rs 387 cr; revenue up 11%

The total income for Q2FY24 came in at Rs 4,644.78 crore, compared to Rs 4,057.08 crore year-on-year, registering a rise of 14.48 per cent

PMI Electro Mobility raises Rs 250 crore from Piramal Alternatives

The funds will be used to develop innovative solutions, bring technological advancements to its production capabilities and scale its operations

Canara Bank Q2FY24 result: Net profit jumps 42% to Rs 3606 cr; NPA down 27%

The net interest income (NII) for Q2FY24 came in at Rs 26,837.68 crore, compared to Rs 20,106.92 crore year-on-year

Asian Paints Q2 result: Consolidated profit jumps 53% YoY to Rs 1,232 cr

The company announced an interim dividend of Rs 5.15 per share

Jubilant Foodworks Q2FY24 result: Net profit at Rs 97 cr YoY; revenue up 5%

The revenue from operations for Q2FY24 came in at Rs 1,368.6 crore, compared to Rs 1,301.5 crore year-on-year

CCI becomes member of International Competition Network's steering group

Competition Commission of India (CCI) on Wednesday said it has become a member of the steering group of the International Competition Network (ICN). The ICN comprises 140 competition agencies from 130 countries. "CCI joins the prestigious Steering group of International Competition Network (ICN) as a member at the ICN Annual Conference 2023 at Barcelona, Spain after consistent efforts. "ICN consists of 140 competition agencies and is guided by its apex body -- Steering Group of 18 members," according to a post by CCI on social media platform X. An official said this is the first time that the CCI has become a member of the ICN's steering group and the membership is for two years. The ICN provides competition authorities with a specialised yet informal venue for maintaining regular contacts and addressing practical competition concerns, according to its website.

Without whole-genome sequencing, a treatable TB epidemic is a challenge

HaystackAnalytics, an IIT Bombay-incubated company working in the area of genomics using big data has created a comprehensive drug resistance test for tuberculosis (TB)

Lloyds Metals Q2FY24 result: Profit up 62% YoY to Rs 231 cr, revenue up 61%

The company's total income for Q2FY24 stood at Rs 1,111.23 crore, compared to Rs 686.36 crore year-on-year