Page 84 - Companies

BharatPe refutes Ashneer Grover's claim of data breach 150 mn users

Fintech platform BharatPe termed the allegations levelled by its former Managing Director and Co-founder Ashneer Grover about data leak at the company as "malicious and completely baseless"

Steel firm AM/NS India's EBITDA drops 62.75% to $162 mn in Dec quarter

Joint venture firm says lower selling price and India's duty on steel exports last year impacted business

Adani Total Gas net profit rises by 13% despite rise in input cost

Adani Total Gas Ltd -- the joint venture of Adani group and TotalEnergies of France which retails CNG to automobiles and piped gas to households -- on Thursday reported a 13 per cent increase in net profit as sales rose. Net profit of Rs 148 crore in October-December compares to Rs 132 crore earnings in the same period a year back, the company said in a statement. Revenue from operations rose to Rs 1,186 crore from Rs 932 crore. CNG sales climbed 15 per cent to 116 million standard cubic metres while piped natural gas (PNG) sales dropped 23 per cent to 70 mmscm. The profitability rose despite a 27 per cent jump in cost of natural gas it converts into CNG and piped natural gas. "During the quarter, ATGL has delivered a good performance with its calibrated approach despite the high input gas price scenario," said Suresh P Manglani, CEO of the company. While the gas sector has been seeing volatility in prices due to geopolitical issues, moderation in the international gas prices in

Subscribers leave Disney+ Hotstar; paid user base falls 6% in Dec quarter

Parent firm to fire 7,000 staffers globally to save $5.5 bn in costs, make streaming biz profitable

Sebi to auction assets of Infinity Realcon, Sunheaven Agro on Mar 13

Capital markets regulator Sebi on Thursday said it will auction 9 properties belonging to four companies -- Infinity Realcon, Bharat Krishi Samriddhi Industries, Ravi Kiran Realty India and Sunheaven Agro India -- on March 13 to recover investors' money. These companies had raised funds from investors without complying with regulatory norms. The nine properties to be auctioned include land parcels and a multi-storied building, situated across West Bengal. The total reserve price of these properties is pegged at Rs 3 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids, Sebi said auction of the properties will be conducted through online mode on March 13 during 10.30 am to 12.30 pm. Of the 9 properties to go under the hammer, 4 belongs to Bharat Krishi Samriddhi Industries, 3 relate to Infinity Realcon and one each of Sunheaven Agro India and Ravi Kiran Reality India. The regulator said the bidders should make their own independent enquiries ...

Data science company Tredence announces ESOP buyback worth $30 mn

Firm that employs 2,000 has 80% of its workforce in India, got $175 mn in funding last year

Adani Wilmar's Solan facility raided for alleged GST violations: Report

Adani Wilmar had failed to deposit GST collection for "several years" and this reportedly led to the inspection

2,500 IT freshers to be given pink slips for failing screening test: Report

The screening tests may also get more stringent as the firms are under pressure to honour campus offers but are already overstaffed

Microsoft's ChatGPT-powered Bing browser now available for public use

American tech giant Microsoft's new ChatGPT-powered Bing experience will now be available for everybody as a "limited preview" on desktop.

Pennar Industries' PAT up by 97.2% at Rs 21 crores in December quarter

Pennar Industries Ltd (PIL), on Wednesday said its consolidated profit after tax for the quarter ended December 31 was up by 97.2 per cent at Rs 21.12 crore compared to Rs 10.71 crore in Q3 FY22. The city-based value-added engineering products and solutions company said net revenues during the quarter stood at Rs 692.22 crore up 29.9 per cent compared to Rs 532.97 crore in Q3 FY22. For the first nine months period in the current fiscal, the company booked Rs 51.6 crore PAT on Rs 2,226.2 crore net revenue.

When silver is gold for company boards: Over 300 directors 'octogenarians'

321 company directors are octogenarians, 22 are over 90, largest chunk in 45-60 band

TCS expands partnership with UK's Phoenix Group, inks over £600 mn deal

This will be one of the largest deals for the company in the coming quarter

Trent reports consolidated net profit at Rs 154.81 cr in December quarter

Tata group retail firm Trent Ltd on Wednesday reported a consolidated net profit of Rs 154.81 crore in the third quarter ended on December 31, 2022. The company had posted a net profit of Rs 113.78 crore in the October-December quarter a year ago, Trent said in a regulatory filing. Its revenue from operations was at Rs 2,303.38 crore during the quarter under review compared to Rs 1,499.08 crore in the third quarter of FY22. Trent's total expenses were at Rs 2,189.62 crore. According to the company, its results for Q3 FY23 "are not comparable" with the corresponding quarter and period of the previous year. "This (the consolidated net profit result) gave the change in profile & quantum of inventory provisioning, rent waivers etc between the three quarters on account of the pandemic. Q3 FY22 had accounting for rent waivers and reversals relating to inventory provisioning. Accordingly, the CAGR of revenues and profitability versus FY20 is more representative of growth," it ...

NCLAT rejects bankruptcy board's plea against telecom tower firm GTL Infra

Corporate debtor's business is sustainable and it is a viable going concern, NCLT had ruled

Number of recognised startups rises to 86,713 in Dec 2022 from 445 in 2016

As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday. These startups are eligible to avail fiscal incentives under the Startup India action plan of the government. "As a result of sustained government efforts, the number of recognized startups has increased from 445 in 2016 to 86,713 in 2022 (as on December 31, 2022)," Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In a separate reply, he said in the UT of Ladakh, 1,006 industrial units have been established with total investment of Rs 122.71 crore after bifurcation of erstwhile Jammu & Kashmir state. On the other hand, Jammu & Kashmir has received investment proposals worth Rs 26,650.49 crore.

As layoffs continue, companies may tweak processes to determine appraisals

In the upcoming year, the salary hikes are less likely to be dependent upon seniority

TenderCuts launches new platform HappyChops for local meat outlets

Platform empowers local meat shops with latest tech and robust supply chain; has on-boarded 100 shops in Chennai, plans to rope in another 300 by March, expand to 10 more cities by June

LinkedIn India's membership crosses 100 million, second largest after US

Software & IT professionals form biggest chunk of members; management the most sought-after skill

Polaris Smart Metering raises $100 mn in funding from I Squared Capital

Funds raised will primarily be used to acquire, execute and finance large smart metering contracts across India

Despite a good Q3, near-term demand worries cloud Apollo Tyres' outlook

There could, however, be some margin relief on account of falling input costs