Page 23 - Company News

Nippon Life Q2 results: Profit falls 4% to ₹345 cr, revenue rises 15%

Nippon Life India Asset Management Ltd (NAM India) on Thursday reported a 4 per cent year-on-year drop in profit after tax (PAT) to Rs 345 crore for the quarter ended September 30. The asset management company had earned a PAT of Rs 360 crore in the year-ago period. However, the company's revenue from operations rose 15 per cent to Rs 658 crore in the second quarter of the current fiscal (FY26) from Rs 571 crore in the same period of the preceding fiscal, according to a stock exchange filing. Besides, the board of directors of Nippon Life India Asset Management has approved an interim dividend of Rs 9 per share. As of September 30, 2025, the company's assets under management (AUM) stood at Rs 7.61 lakh crore (USD 85.7 billion), and serves 21.9 million unique investors, representing over one in every three mutual fund investors in the country. Sundeep Sikka, Executive Director and CEO of NAM India, said, "In terms of business performance, we continue to gain market share with the .

Swiggy's board to discuss ₹10,000 crore fundraise plan to fuel growth

Food delivery and quick commerce firm Swiggy, which owns Instamart, on Thursday said its Board will meet on November 7 to consider and approve a proposal to raise Rs 10,000 crore through a qualified institutional placement. Swiggy said the external environment is competitive and dynamic, and hence the company's board will consider raising additional funds. "With the current cash balance to be further bolstered by the Rs 2,400 crore Rapido divestment, we feel comfortable about our overall balance sheet strength, and are well-funded for our growth ambitions," Swiggy said in a letter to shareholders. "However, the external competitive environment is dynamic, and legacy and new players continue to attract investments to the sector. This has necessitated a conversation with the Board to consider additional fundraising, which will give us access to sufficient growth capital while enhancing our strategic flexibility. Hence, the Swiggy Board will be meeting on 7 November 2025, to consider a

Van Der Hoeven wins €40 mn contracts for strawberry greenhouses in India

Dutch company Van der Hoeven Horticultural Projects said on Thursday it has secured three contracts worth 40 million euros to build high-tech greenhouses for strawberry cultivation in India. The greenhouses will be set up across 8 hectares in Punjab, Tamil Nadu and Karnataka, Sales Manager Pieter Jan Robbemont told PTI. "For the first time, we are going to bring our hi-tech greenhouse technology to India. We have got three projects for strawberry cultivation," Robbemont said. The company is awaiting bank financing to start implementation, with construction taking a minimum of one year, he said. The Dutch technology differs from existing systems in India by offering advanced climate control, irrigation, automation and cultivation systems designed to optimise crop production across diverse climates, the company said. Van der Hoeven is one of four companies exploring the Indian market under HortiRoad2India, a multi-year public-private partnership initiative by the Netherlands to prom

Dabur India Q2 profit rises 6.5% to ₹444.79 crore on strong sales growth

Homegrown FMCG firm Dabur India Ltd on Thursday reported 6.53 per cent increase in consolidated net profit to Rs 444.79 crore in the September quarter. The company had posted a consolidated net profit of Rs 417.52 crore in the same quarter last fiscal year, Dabur India said in a regulatory filing. Consolidated revenue from operations during the quarter stood at Rs 3,191.32 crore as against Rs 3,028.59 crore in the year-ago period, it added. Total expenses in the quarter under review were higher at Rs 2,758.33 crore as compared to Rs 2,634.40 crore in the corresponding period a year ago, the company said. "Despite a dynamic economic environment and transitional GST headwinds, we delivered robust topline and bottomline growth, reaffirming our leadership across core categories," Dabur India CEO Mohit Malhotra said. He further said, "Our India business reported market share gains across 95 per cent of the portfolio, a clear testament to our focused brand investments and deep consumer

Welspun Corp Q2 profit rises 57% to ₹443.51 cr, order book at ₹23,500 cr

Welspun Corp on Thursday posted a 57 per cent rise in consolidated net profit to Rs 443.51 crore in the September quarter, driven by a rise in revenues from the core steel products business. It had clocked a net profit of Rs 282.96 crore in the July-September period of the preceding 2024-25 financial year, the company said in a regulatory filing. Total income increased to Rs 4,408.66 crore in the September quarter from Rs 3,364.23 crore in the year-ago period. Total expenses stood at Rs 3,916.09 crore, higher from Rs 3,074.90 crore in Q2 FY25. The board of the company also approved the incorporation of two wholly-owned subsidiaries in the United Arab Emirates (UAE). One of the proposed companies will be incorporated at the Dubai International Financial Centre. It will act as an investment holding company to oversee the investments globally. Another entity will be incorporated at the Free Trade Zone in the UAE to handle global marketing for all products and carry out the business

Aditya Birla Capital Q2 results: Net profit rises 3% to ₹855 crore

Aditya Birla Capital on Thursday reported 3 per cent increase in consolidated net profit at Rs 855 crore for the second quarter ended September 2025. The financial services arm of Aditya Birla Group earned a net profit of Rs 834 crore in the same quarter of the previous financial year. Total income rose to Rs 10,609 crore during the quarter under review from Rs 10,362 crore a year ago, Aditya Birla Capital said in a regulatory filing. Interest income increased to Rs 5,003 crore from Rs 4,141 crore in the same quarter a year ago. Total expenses rose to Rs 9,475 crore from Rs 9,034 crore. The total Asset Under Management (AMC, life insurance and health insurance) grew 10 per cent to Rs 5,50,240 crore as on September 30, 2025 from Rs 5,01,152 crore a year ago.

Jio-bp sets up 28 EV charging points at its Devanahalli retail outlet

Jio-bp on Thursday announced the launch of an integrated mobility hub with 28 EV charging points within a retail outlet at Devanahalli in Bengaluru. The Devanahalli outlet with a multi-fuel retail site offering petrol, diesel, CNG, and a wildbean caf now adds an EV charging hub, featuring superfast DC chargers with 28 charging points dispensing up to 360kW, Jio-bp said. This flagship destination brings together fuel, CNG, EV, retail, and caf experiences under one roof, redefining convenience for customers and travellers alike, a statement issued by Jio-bp said. Jio-bp Chairman Sarthak Behuria said the Devanahalli Mobility Station represents our vision for the future of integrated mobility in India. Located near Kempegowda International Airport, the hub makes it easier for EV owners and fleets in and around Bengaluru to charge quickly, relax, and continue their journeys with confidence, Behuria said.

Union Bank Q2 profit dips 10% on lower core income, loan recoveries

State-run Union Bank of India on Thursday reported a 10 per cent decline in September quarter profit at Rs 4,249 crore, driven by a decline in core income and also recoveries from written-off accounts. Its newly appointed Managing Director and Chief Executive Asheesh Pandey said the lender will be "balancing" between topline growth and protecting bottomline from hereon. On the speculation about another round of consolidation among state-run lenders, and if the bank will merge with one of its peers, Pandey declined comment. Without denying any speculation, he said things are "evolving". During the quarter, it reported a 2.6 per cent dip in the core net interest income at Rs 8,812 crore due to a softer loan growth of less than 5 per cent and also a narrowing of the net interest margin to 2.67 per cent from 2.90 per cent in the year-ago period. Pandey did not share a specific target on the loan growth for FY26, but added that it still aspires to grow the book at 8-10 per cent on the b

Canara Bank Q2 results: Net profit rises 19% to ₹4,774 cr on higher income

State-owned Canara Bank on Thursday reported 19 per cent increase in net profit at Rs 4,774 crore for the second quarter ended September on the back of decline in bad loans. The bank had earned a net profit of Rs 4,015 crore in the year-ago period. Total income increased to Rs 38,598 crore in the second quarter from Rs 34,721 crore in the same period of the previous fiscal, Canara Bank said in a regulatory filing. Interest income improved to Rs 31,544 crore from Rs 29,740 crore in the same quarter a year ago. However, Net Interest Income witnessed moderation in the quarter to Rs 9,141 crore as against Rs 9,315 crore a year ago. Operating profit also increased to Rs 8,588 crore as against Rs 7,654 crore in the same quarter a year ago. In terms of asset quality, gross non-performing assets (NPAs) of the bank moderated to 2.35 per cent of gross advances at the end of September 2025 as against 3.73 per cent by the year-ago period. Similarly, net NPAs or bad loans came down to 0.54

Swiggy trims sequential loss to ₹1,092 cr on back of Instamart growth

India's quick commerce industry, which promises to deliver everything from milk to mobile phones in minutes, has ignited an investment frenzy as it grows at a blistering pace

Aakash shareholders clear share capital hike after NCLAT approval

The edtech firm said the capital hike and rights issue are essential to ensure Aakash's operational stability and protect Byju's investment through Think & Learn

Mercedes tops auto-margin forecasts as premium model sales offset costs

Like rivals including Porsche and BMW, Mercedes faces particular challenges in the Chinese premium and luxury market, where a price war driven by local carmakers is hitting demand

Altman unveils trillion-dollar AI vision as OpenAI eyes massive expansion

After reaching a deal with Microsoft on Tuesday that removes limits on how OpenAI raises money, Altman laid out even more ambitious plans to build AI infrastructure to meet growing demand

L&T appoints former G20 Sherpa Amitabh Kant as independent director

Infrastructure major Larsen & Toubro (L&T) on Wednesday said its board has approved the appointment of former G20 Sherpa and NITI Aayog CEO Amitabh Kant as a non-executive, independent director of the company. Kant has been appointed for a term of five years with effect from Wednesday. "The board of directors of the company at its meeting held today, i.e., October 29, 2025, have approved the... appointment of Amitabh Kant as a non-executive, Independent Director (Additional Director) of the company for a term of 5 years with effect from October 29, 2025, up to and including October 28, 2030, subject to approval of shareholders of the company," Larsen & Toubro said in a filing to the BSE. Last month, IT services company HCL Technologies had announced the appointment Kant as an independent director. In September, IndiGo also appointed him as an additional director on its board after receiving security clearance from the civil aviation ministry. Canadian billionaire Prem ...

Boeing delays 777x jet to 2027, takes $5 billion charge amid setbacks

Last month, CEO Kelly Ortberg said the company was behind schedule in certifying the jet, saying a 'mountain of work' needed to be done

United Breweries Q2 profit declines 65% to ₹46 crore on weak beer sales

United Breweries Ltd on Wednesday reported a 65 per cent decline in consolidated net profit to Rs 46.34 crore in the September quarter impacted by unusual monsoon hitting beer sales. The company had posted a consolidated net profit of Rs 132.33 crore in the second quarter of the previous fiscal year, United Breweries Ltd (UBL) said in a regulatory filing. Consolidated revenue from operations during the quarter stood at Rs 3,737.31 crore compared to Rs 4,743.56 crore in the corresponding period a year ago, it added. Total expenses in the quarter under review were lower at Rs 3,686.37 crore as compared to Rs 4,575.68 crore, the company said. UBL said its "total volume declined 3.4 per cent in Q2, with growth in mainly Maharashtra, Andhra Pradesh and Assam more than off-set by adverse weather across our footprint as well as stock-building in Q2-FY25 following the peak season impacted by national elections". Premium volume grew 17 per cent in the quarter, it added. The company said i

GMB, APM Terminals Pipavav ink ₹17,000 crore MoU to boost Gujarat ports

The Gujarat Maritime Board (GMB) and private entity Gujarat Pipavav Port Ltd on Wednesday signed a Memorandum of Understanding (MoU) for an investment of Rs 17,000 crore here with the aim to strengthen the maritime sector of Gujarat. Chief Minister Bhupendra Patel and A P Moller-Maersk Board Chairman Robert Maersk Uggla were present on the occasion. Pipavav Port or APM Terminals Pipavav, partly owned by A P Moller-Maersk, is a major private port located near Rajula in Amreli district of Gujarat, while the GMB is a government agency that manages and regulates ports in the state. "The objective of this MoU is to further strengthen the maritime sector of Gujarat through the capacity expansion of Pipavav Port," stated an official release. This project will create about 25,000 direct and indirect employment opportunities, giving new impetus to the local economy and improving the standard of living in rural areas, it said. "It will increase the existing container, bulk, liquid and Ro-Ro

LIC Housing Finance Q2 profit up 2% to ₹1,354 crore on higher income

LIC Housing Finance on Wednesday reported a marginal 2 per cent improvement in September quarter net profit to Rs 1,354 crore on a standalone basis. The company promoted by life insurance behemoth LIC had posted a net profit of Rs 1,329 crore in the year-ago period. Total income of the mortgage entity rose to Rs 7,170 crore during the quarter from Rs 6,932 crore in the year-ago period, LIC Housing Finance said in a regulatory filing. During the quarter, the interest income improved to Rs 7,034 crore as compared to Rs 6,853 crore in the same quarter a year ago. Total expenses during the quarter increased to Rs 5,465 crore from Rs 5,267 crore in the same period in the previous fiscal year. With regard to asset quality, the company was able to reduce gross non-performing assets (NPAs) to 2.51 per cent of the gross loans by the end of September 2025 from 3.05 per cent a year ago. Similarly, net NPAs, or bad loans, too, declined 1.19 per cent from 1.57 per cent at the end of the secon

Yes Bank lost over ₹2,700 crore in deals with Anil Ambani firms: CBI

Yes Bank suffered a loss of over Rs 2,700 crore due to the "unilateral decision" of its co-founder Rana Kapoor to invest in the Anil Ambani-led financial companies, said the CBI's charge sheet in a case pertaining to alleged fraudulent transactions between the bank and the industrialist's group entities. The Central Bureau of Investigation (CBI) last month filed a charge sheet against 13 people and entities, including Anil Ambani, Rana Kapoor and his family members, alleging criminal conspiracy, cheating and corruption related to loans and investments. The Federal probe agency's document said that further investigation was on regarding the role of Anil Ambani's son Anmol Ambani, the then executive director of Reliance Capital, in the case. The case is based on two separate complaints lodged by the Chief Vigilance Officer of Yes Bank. As per the charge sheet, the bank -- when Rana Kapoor was its managing director and chief executive officer -- made investments of Rs 5,010 crore in

Too much liberalisation of flying rights may hurt Indian airlines: A-I CEO

Air India chief Campbell Wilson on Wednesday said the pace of liberalisation of bilateral flying rights should not be "too much" that it undercuts the investments by Indian airlines and other aviation players. India is one of the world's fastest growing civil aviation markets, and various foreign carriers, especially from the Gulf, have been raising concerns that the country is not providing more bilateral rights as they look to tap the market potential. The Tata Group-owned Air India is working on revamping and expanding its fleet to offer more services amid rising air traffic demand. According to Wilson, around 95 per cent of the traffic that Indian airlines carry is terminating or originating in India. "For some of the other carriers, upwards of 60 per cent, 70 per cent and in some cases 90 per cent of what they are uplifting from India is transiting and going somewhere else. "And to the extent that Indian carriers have invested tens of billions of dollars in wide-body aircraft