Page 4 - Companies

Looking to maintain double-digit profit growth in FY26: MHRIL CEO Bhat

Mahindra Holidays & Resorts India is looking to maintain a double-digit growth in its consolidated profit for the remaining part of this fiscal, buoyed by a strong performance in the first quarter, according to its Managing Director and CEO Manoj Bhat. The company, which plans to add about 1,000 rooms this fiscal as part of its overall target of increasing its key count to 10,000 by FY30, is on track with inventory additions, Bhat told PTI. "If you look at the consolidated profit growth of 18 per cent in Q1, I think that would be our target. In that range, we will look at growing our profits through the course of the year," he said when asked for the outlook for the remaining part of the fiscal year. In the first quarter, Mahindra Holidays & Resorts India Ltd (MHRIL) had posted a consolidated profit after tax of Rs 7.2 crore against Rs 6.1 crore in the year-ago period, up 18 per cent. Its total income increased 8 per cent to Rs 740.2 crore compared to Rs 686.1 crore in the ...

Jio Financial Q1 result: Profit up marginally to ₹325 cr, revenue jumps 46%

Shares of closed at ₹318.1 apiece on the BSE on Thursday

Sebi extends portfolio rebalancing timelines to all passive breaches in MFs

Market regulator Sebi on Thursday said that timelines for portfolio rebalancing in mutual fund schemes will now be applicable to all types of passive breaches across actively managed schemes, which was earlier limited to only asset allocation. A passive breach refers to unintended deviations from the mandated asset allocation or regulatory limits that do not arise from the direct actions or omissions of asset management companies (AMCs). Passive breaches generally do not happen due to the omission and commission of Asset Management Companies (AMCs). The mandated rebalancing period for all mutual fund schemes, except Index Funds and Exchange Traded Funds (ETFs), is 30 business days. Such breaches may be caused by corporate actions, significant price movements in underlying securities, maturity of instruments, or large-scale investor redemptions. The clarification came in the wake of a recommendation made by the Mutual Funds Advisory Committee (MFAC) and is aimed at ensuring consiste

Jeffrey Mark Overly appointed new chairman of auto parts maker Sona Comstar

Overly, an independent director since 2021, brings over four decades of global manufacturing experience to the role following the passing of former chairman Sunjay Kapur

Berger is number 2 by a margin in the decorative paint space: MD & CEO

Acquisitions are a high risk strategy; there are advantages in utilizing one's own strengths

Decathlon India to hit 170 stores by 2027, rolls out circular model

Decathlon plans to grow to 170 stores by 2027 and has launched a circular business model with repair, resale and buyback services across most of its Indian outlets

MakeMyTrip launches train seat prediction tool to reduce waitlisted fares

Never miss a confirmed seat again-MakeMyTrip predicts sell-outs and sends timely alerts so you can book your train tickets before they're gone

Japan firms to face fines if they fail to protect workers from heat waves

Businesses will face potential penalties including fines of 500,000 yen ($3,475) if provisions aren't sufficient

Perishables fuel Air India's cargo growth amid cold chain overhaul

Air India's perishables cargo rose 37% in two years as it expanded cold chain infrastructure, added tech tools, and grew flight capacity on key international routes

India may soon allow US, foreign companies to bid for govt contracts

The government is likely to allow US firms to bid for contracts worth over $50 billion, mainly from federal entities, as it negotiates a trade deal with Washington.

FY25 marks among the least ever spends on taking companies private

Acquisition amount at less than Rs 100 crore

Focusing on how ageing millennials look at wellness: Fireside's Vinay Singh

With ₹3,000 crore under management, Fireside Ventures sees emerging consumer cohorts and tech-driven wellness as key to India's evolving consumer brand landscape

Perfetti Van Melle India aims for ₹4,000 crore revenue in FY26

After closing FY25 at Rs 3,500 crore, the confectionery maker expects FY26 to be stronger, driven by improved demand, distribution depth and product mix shifts

EV biz to breakeven when monthly sales reach 25K units: Hero MotoCorp CFO

Hero MotoCorp aims to break even in its EV business by reaching 25,000-30,000 monthly unit sales, with FY25 sales up 175% and EBITDA improving to -95%

Vi files fresh petition in SC, seeks ₹30K crore waiver on AGR dues

Telco seeks waiver of over ₹30,000 crore of Adjusted Gross Revenue (AGR) dues towards penalties and interest as Supreme Court hearing is expected on 19 May

Burberry to cut 1/5 of its workforce globally as profits plunge, costs rise

Burberry will cut 1,700 jobs worldwide by 2027 including its entire night shift in Castleford after a £66 million loss forces the luxury brand to intensify cost-cutting efforts

Eternal leases over 84,000 sq ft office space in Mumbai's Andheri

The lease spans five years with a rent escalation clause, includes 57 parking spots, and was registered on 9 May with a fit-out period of 150 days starting 1 May 2025

JB Pharma Q4 results: Profit up 15% to ₹145.6 cr; revenue rises 10%

JB Pharma posts strong FY25 performance with 19.3% profit growth; domestic business up 20%, CDMO segment and Russia drive international gains

Q4 results highlights: Tata power net profit rises 16.5% to ₹1,042 crore

Q4 results highlights: Hindustan Aeronautics, Lupin, Eicher Motors, and financial services firm Muthoot Finance will be among 126 companies to release their earnings today. Catch the updates here

Thomas Cook India to top FY26 industry growth: MD & CEO Mahesh Iyer

Firm sees itself outperforming sector's 12-15 per cent growth forecast for FY26 after a strong Q4, with gains in Middle East DMS, MICE, and B2C travel segments