Page 22 - Company News

South Indian Bank posts strong Q3, profit up 9% to ₹374 crore, NPAs fall

Private sector lender South India Bank on Thursday reported a 9.3 per cent rise in net profit to Rs 374 crore for the third quarter ended December 2025. The Kerala-based lender had earned a net profit of Rs 342 crore in the same quarter a year ago. Its total income increased to Rs 3,003 crore during the quarter under review from Rs 2,780 crore in the year-ago period, South Indian Bank said in a regulatory filing. Interest income also rose to Rs 2,518 crore from Rs 2,379 crore in the third quarter of the previous fiscal. The bank's operating profit improved to Rs 584 crore from Rs 529 crore in the December 2024 quarter. On the asset quality front, the bank's gross non-performing assets (NPAs) declined to 2.67 per cent of gross loans by the end of December 2025 from 4.30 per cent a year ago. Similarly, net NPAs or bad loans fell to 0.45 per cent compared to 1.25 per cent in FY25. Its capital adequacy ratio moderated to 17.84 per cent from 18 per cent at the end of the same quarter

Sony India FY25 revenue rises 2.4% to ₹7,851 crore, profit falls 6%

Consumer electronics maker Sony India's revenue from operations increased 2.44 per cent to Rs 7,851.08 crore in FY25; however, its total profit for the financial year decreased by nearly 6 per cent to Rs 157.03 crore, according to a regulatory filing from the company. Its total income, which includes other income, rose 2.45 per cent to Rs 7,917.54 crore for the financial year ended on March 31, 2025, according to financial data accessed through the business intelligence platform Tofler. Sony India, a wholly owned subsidiary of Japan's tech major Sony Corporation, had a net profit of Rs 166.99 crore, and its revenue from operations stood at 7,663.74 crore in the year-ago period. India is currently the fourth largest market for Sony after the US, China, and Japan. Sony India aims to become the third-largest global market for Sony within the next couple of years. Sony India's advertising promotional expenses rose 2.61 per cent to Rs 183.71 crore for the financial year which ended on

Bajaj Auto plans to take Chetak EV scooters to over 100 countries

Bajaj Auto is planning a phased expansion of its Chetak electric scooter to over 100 countries, focusing on localisation and its global distributor network rather than an aggressive rollout

Indian Railways awards €62 million loco maintenance contract to Alstom

French rolling stock maker Alstom has secured a €62 million Indian Railways contract to maintain WAG-12B electric locomotives at the Sabarmati depot till 2031

Aule Space raises $2 mn to develop satellite life extension jetpacks

Aule Space has raised $2 mn in pre-seed funding led by pi ventures to build autonomous satellite jetpacks that dock with geostationary

RBI clears Japan's SMBC to set up wholly owned subsidiary in India

Months after acquiring a 24.21% stake in Yes Bank, Japan's SMBC has received RBI's in-principle approval to set up a wholly owned banking subsidiary in India

Oil refiners to report strong Q3 performance aided by high refining margins

The state-run refiners are expected to report gross refining margins of $10-13 per barrel in the third quarter of FY26, aided by strong product cracks and benign crude prices

Eyeing cofinancing with multilateral agencies, says IRFC CMD Dubey

IRFC is reinventing itself as IRFC 2.0, eyeing co-financing with multilateral agencies and refinancing projects to tap a potential Rs 1 trillion annual infrastructure financing opportunity

No Infosys employee apprehended by US authorities: CEO Salil Parekh

Infosys CEO and Managing Director Salil Parekh on Wednesday clarified that no employee of the IT major has been apprehended by US authorities, dismissing viral social media reports about a purported deportation of a staffer. During the company's Q3 earnings call, Parekh, responding to a specific question, said the rumours that had been circulating online over the past few days. "No Infosys employee has been apprehended by any US authority. A few months ago, one of our employees was denied entry into the US and was sent back to India," Parekh said. The clarification comes in the wake of a post on social media platform X by a user named Chetan Anantharamu, which went viral earlier this week. The post narrated what Anantharamu described as a "wild wild story" involving an Infosys employee from Mysuru who was allegedly on-site for a project in the United States. According to the post, the employee was purportedly "picked up by ICE (Immigration and Customs Enforcement) agents and given

MRPL Q3 FY26 profit rises nearly 5-fold to ₹1,445 cr, debt down ₹3,577 cr

State-owned Mangalore Refinery and Petrochemicals Limited (MRPL) on Wednesday reported a strong turnaround in its financial performance for the third quarter and the first nine months of FY 2025-26, driven by higher revenues, improved margins and a sharp reduction in borrowings. The Board of Directors of MRPL, a subsidiary of Oil and Natural Gas Corporation (ONGC) and a Schedule A' Mini Ratna Category-I company, approved the standalone and consolidated financial results at its 272nd meeting held on January 14, 2026. For the third quarter ended December 31, 2025, MRPL's revenue from operations rose to Rs 29,720 crore, compared to Rs 25,601 crore in the corresponding period last year. Profit before tax jumped nearly five-fold to Rs 2,214 crore, while profit after tax increased to Rs 1,445 crore, from Rs 304 crore in Q3 of FY25. The company's EBITDA for the quarter stood at Rs 2,824 crore, reflecting improved operational efficiency. During the nine-month period, MRPL recorded revenue

Credgenics forays into consumer segment with FixMyScore.ai platform

Credgenics has entered the consumer segment with the launch of FixMyScore.ai, targeting credit score improvement and repayment solutions for retail borrowers

Groww Q3 results: PAT down 28% despite rise in revenues and client base

Billionbrains Garage Ventures' net profit fell 28 per cent in the December quarter, even as revenues rose 16 per cent on growth in new segments and a rising active client base

HCLTech sharpens focus on India as market, appoints Sandeep Saxena as CGO

HCLTech has elevated company veteran Sandeep Saxena as Chief Growth Officer - Growth Markets 2, as it sharpens focus on India and other key regions such as West Asia and Africa

US-based State Street to buy 23% stake in Groww AMC for ₹580 crore

US-based asset manager State Street Investment Management will acquire a 23 per cent stake in Groww Asset Management for USD 65 million (Rs 580 crore), in a move aimed at strengthening its presence in India, the asset management arm of Billionbrains Garage Ventures said on Wednesday. The investment will be made in one or more tranches. The total investment comprises Rs 381 crore through secondary share purchases and about Rs 199 crore in fresh capital, which could dilute Groww AMC's stake up to 23 per cent. "The investment will help State Street Investment Management to strengthen its presence in India while also enabling the delivery of Indian-focused investment strategies to its clients globally," the US-based firm said in a statement. Separately, in a stock exchange filing, Groww AMC said it has entered into an agreement with State Street Global Advisors Inc, an entity that operates under the State 'Street Investment Management' brand, for an investment into the ...

Ola Electric announces expansion of 4680 Bharat Cell platform

Ola Electric on Wednesday announced the expansion of its 4680 Bharat Cell platform. As part of the initiative, businesses and startups can now directly purchase the 4680 Bharat Cells, or the 1.5kWh 4680 Bharat Cell battery pack for application across automotive, humanoids, drones, and portable medical equipment. With this announcement, the company will enable startups and businesses to innovate and scale rapidly with new energy storage solutions designed, engineered, and manufactured in India, the Bengaluru-based firm said in a statement. The company also announced that its residential Battery Energy Storage System (BESS) solution, Ola Shakti is now available for purchase with deliveries for 6kW/9.1kWh starting end of January 2026, and 3kW/5.2kWh starting mid-February 2026. Furthermore, the company said it has also begun deliveries of its flagship motorcycle, Roadster X+ 9.1kWh powered by the 4680 Bharat Cell, offering a range of up to 500 km on single charge. In addition to this,

There is a clear sense of recovery taking shape: TCS' Krithivasan

TCS CEO K Krithivasan talks about his vision of AI-first TCS and shift in its strategy towards acquisition

Q3 revenue per employee has improved 3.5% sequentially, says TCS CFO

TCS, for the first time, disclosed revenue from AI. Annualised AI revenue grew 17.3 per cent sequentially to $1.8 billion

Elie Saab forays into Indian branded residence market with M3M group

Elie Saab to open first retail store this year

USK Capital acquires US-based snacking brand Go Raw

The office acquired a majority stake in Go Raw's parent, Freeland Foods LLC, through one of the operating entities owned and controlled by USK Capital under the overseas direct investment route

Ducati India plans 10 new model launches in 2026, price reveal soon

Italian luxury motorcycle maker Ducati on Tuesday said it has lined up 10 new and updated motorcycle models for launch in the domestic market this year. These models include Desmo450 MX, the 2026 edition of the new Multistrada V4 Rally, Panigale V4 Lamborghini, and new Monster V2 and the new Hypermotard V2/V2 SP, among others, it said. Of the 10 new models, one motorcycle model, Panigale V4R, has already hit the market on January 2, Ducati said. Besides, the company said its dealer touchpoints for the Indian market are also in place. "The year 2026 is poised to be another landmark year for Ducati as we continue to push boundaries with a portfolio of new launches that will set fresh benchmarks in the premium motorcycle segment," said Bipul Chandra, Managing Director, Ducati India. Ducati India's commitment to delivering the most sophisticated, performance-driven motorcycles to Indian customers has never been stronger, he said. "We are excited to introduce these exceptional new mod