Page 6 - Company News

Ninjacart posts Rs 256-cr loss in FY25, revenue drops to Rs 1,634 cr

Agritech firm Ninjacart on Friday reported a loss of Rs 256 crore during the last fiscal year on lower income. In a statement on Friday, the company said its operating revenue declined to Rs 1,634 crore in the 2024-25 fiscal year from Rs 2,007 crore in the preceding year. "Losses remained largely stable at Rs 256 crore in FY25 versus Rs 260 crore in FY2024...," Ninjacart said. The company attributed the fall in revenue to its decision to discontinue select low-margin and non-core business segments. Ninjacart said its core businesses, which is a fulfilment platform serving retailers, traders, and other institutional customers (including quick-commerce players), are scaling strongly during the current fiscal year, growing at over 100 per cent year-on-year. All core businesses have already achieved operating profitability and the company is now focused on achieving overall profitability during 2026-27, it said. "FY25 was about disciplined execution and making thoughtful choices. We

Evaluating setting up shop in United States: Vikram Solar chairman

Vikram Solar Chairman Gyanesh Chaudhary says consolidation is under way in renewables, with capacity expansion, upstream investments and plans to explore the us market despite sector headwinds

Policy changes create room for foreign insurers to explore: Sompo MD

India's non-life insurance sector is set for faster growth as the Insurance Amendment Bill allows 100% FDI, boosts investor confidence and strengthens regulation, says Mathur, Universal Sompo CEO

Ola Electric secures ₹367 crore incentive under India's auto PLI scheme

The sanction pertains to the Demand Incentive for the Determined Sales Value for FY 2024-25, and authorises a payment of ₹366.78 crore to be released through IFCI Limited

Culture of watching movies is stronger in South: PVR Inox MD Ajay Bijli

Culture of watching movies is stronger in South, says PVR Inox MD

Tata Motors' EV arm to launch five new models by FY30; capex Rs 18,000 cr

Tata Passenger Electric Mobility plans five new EV models by FY30 and Rs 16,000-18,000 crore capex on products, technology and charging infrastructure as Tata EV sales cross 250,000 units

While competition is high, Voltas remains well protected, says MD Menon

In an exclusive interview, Mukundan Menon, the managing director of Voltas, talks about protecting its turf in a competitive market

APSEZ completes acquisition of NQXT Australia, revises FY26 Ebitda guidance

Adani Ports and Special Economic Zone has completed the NQXT Australia acquisition and raised FY26 Ebitda and cargo volume guidance, citing the terminal's growth and cash flows

Saleem Ahmad assumes charge as RVNL chairman and managing director

Rail Vikas Nigam Limited said Saleem Ahmad has taken charge as its new chairman and managing director. He previously served as director (projects) at NBCC (India)

HMEL to invest ₹2,600 crore in Bathinda refinery for downstream expansion

HPCL Mittal Energy plans to invest Rs 2,600 crore at its Bathinda refinery to build polypropylene downstream industries and start fine chemical projects to expand its business

HN Reliance Foundation Hospital launches tele-robotic surgery programme

HN Reliance Foundation Hospital has launched a tele-robotic surgery programme, allowing Mumbai surgeons to remotely perform, guide robotic procedures at a Jamnagar partner centre using Jio's network

Union Bank of India cuts rates on select retail loans by up to 160 bps

Union Bank of India has reduced rates on select retail loans from December 18, cutting home loans by 30 bps, vehicle loans by 40 bps and personal loans by up to 160 bps

Tata Motors Finance settles Sebi matter for ₹32 lakh over NCD issue

Tata Motors Finance settled the Sebi matter for Rs 32 lakh over alleged violations tied to five Tier-II perpetual NCD issuances between 2019 and 2022

Bharat Biotech inks tech transfer pact with Biofabri for MTBVAC TB vaccine

Bharat Biotech has signed a technology transfer agreement with Spain's Biofabri to enable end-to-end manufacturing of MTBVAC, with a Phase 3 study in India expected to start recruitment in Q1 2026

'Abuse' of market dominance: CCI seeks info from aviation major IndiGo

Competition Commission has sought details from IndiGo after a consumer complaint alleged exploitative pricing following flight disruptions; CCI may examine Section 4 issues

Ambuja Cements approves merger of ACC and Orient Cement into parent entity

Ambuja Cements' board approved schemes to merge ACC and Orient Cement into Ambuja, setting share-swap ratios and targeting completion within 12 months to drive efficiencies and simplify structure

Paytm to enter Indonesia and Luxembourg; brings Alabbar SPV into UAE unit

Paytm is setting up wholly owned subsidiaries in Indonesia and Luxembourg and is restructuring its UAE unit by bringing in an SPV of Emaar founder Mohamed Alabbar as a 49% shareholder

MUFG Bank not keen on raising Shriram Finance stake beyond proposed 20%

MUFG Bank said it will not raise its stake above the proposed 20 per cent in Shriram Finance and has no plans to invest in other Shriram Group entities, even as SFL approved a $4.4 billion deal

Shapoorji Pallonji enters plotted development with ₹600 cr project in Pune

Shapoorji Pallonji Real Estate has launched Treetopia, a 105-acre plotted development in Pune with 483 residential plots and an estimated revenue potential of Rs 600 crore

Abundant intelligence, skilling to shape AI future: Microsoft India head

Unmetered intelligence, human-supervised 'digital colleagues' and continuous skilling as the key safeguard amid big shifts will shape an AI-rewired future, Puneet Chandok, President, Microsoft India and South Asia has said outlining his top predictions. Microsoft CEO Satya Nadella during his visit to India earlier this month had announced plans to invest USD 17.5 billion here to help build infrastructure and sovereign capabilities for the country's AI-first future - the bold commitment marking the tech giant's largest investment ever in Asia. Chandok said AI has moved beyond hype, delivering real impact today. "...the next phase will be defined by how responsibly, inclusively, and thoughtfully we scale it," Chandok told PTI. His headline predictions for the rearranging world and frontier AI include intelligence moving from being scarce to abundant, with compute increasingly translating directly into cognition for organisations, in an era of "unmetered intelligence". AI 'agents' wi