Page 2 - Company

Trafigura CFO Salmon to retire in June, Stephan Jansma to take charge

Executive director Jose Maria Larocca also notified the board of his intention to retire at the end of September, Trafigura said

Tata Steel board decides not to merge TRF Ltd as company sees turnaround

Tata Steel on Wednesday said its board has decided not to pursue the amalgamation of TRF Ltd, as the associate company is witnessing a turnaround in its business performance. Tata Steel had earlier announced the amalgamation of nine of its strategic businesses including Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, TRF, The Indian Steel & Wire Products, Tata Steel Mining Ltd, S & T Mining Company. In a statement, Tata Steel said "the boards of both the companies have decided not to pursue the amalgamation process. With the active support from Tata Steel, TRF has successfully navigated a highly challenging operating environment, witnessing a turnaround in its business performance." Since the announcement of the intended merger, Tata Steel has been providing significant operational and financial support by way of placement of orders and infusion of funds. Tata Steel further said it has successfully amalgamated five businesses after duly completing the ...

IBBI allows same RP for company and personal guarantor insolvency

The modifications to the IBBI - Bankruptcy Process for Personal Guarantors to Corporate Debtors, Regulations 2019, took effect from January 31

Adani Green completes funding of reserves for $750 million Holdco Bond

Adani Green had announced the redemption plan for the $750 million bonds earlier this month

Brigade Enterprises net profit up 117% to Rs 112.50 crore in Q2FY24

In Q2 FY24, Brigade reported an incremental leasing of 3 lakh square feet recording a five-time increase in quarter-on-quarter

Alembic Pharmaceuticals' revenue surges 8.17%, PAT up 3.21% in Q2FY24

The API business reported a 10 percent growth in revenues, reaching Rs 322 crores in the quarter

Should touch Rs 1K crore from OTC this year, says Nandini Piramal

The benefit of having patented products contract manufacturing is that there is always growth, said Piramal

Singur saga: TaMo's arbitration award roils political waters in West Bengal

The SC verdict triggered the compensation clause for Tata Motors

Metropolis Healthcare PAT declines 12%, consolidated revenue up 2.7%

EBITDA stood at Rs 77.8 crore, declining 6.2 per cent year-on-year and growing 16.1 per cent sequentially

Utility Sempra reports Q3 profit beat on infrastructure unit strength

The segment got a boost from increasing global interest in lower emissions fuels

Usha Martin reports 39% rise in net profit to Rs 109 crore in Q2FY24

Usha Martin on Friday reported a 38.66 per cent rise in consolidated net profit to Rs 109.52 crore during the September quarter. It had clocked a net profit of Rs 78.98 crore in the year-ago period, the company said in a regulatory filing. The company's total income rose to Rs 806 crore over Rs 825.83 crore in the year-ago quarter. Its expenses were trimmed to Rs 664.77 crore in the second quarter of the current fiscal from Rs 729.48 crore a year ago. "The Board of Directors of the company has approved the removal (strike-off) of Usha Martin Power & Resources Ltd, non material wholly-owned subsidiary from the records of registrar of companies, West Bengal, subject to requisite approvals of regulatory authorities as applicable," the filing said. Usha Martin is a leading global manufacturer of wire ropes. Usha Martin's wire rope manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok and the UK produce the widest range of wire ropes that find application in various industrie

Muthoot Microfin reports Rs 109.5 crore profit after tax for Q2FY24

Kerala-based microfinance firm Muthoot Microfin Limited has reported Rs 1,095.74 million profit after tax for the quarter that ended on September 30, the company said. The company said the profit was a rise of 14.5 per cent from the previous quarter. The microfinance arm of Kerala-based Muthoot Pappachan Group in a release said, the company has also posted growth indicators with total income from operations growing 17.74 per cent from the previous quarter to Rs 5,636.25 million as of September 30, 2023. Commenting on the results, Muthoot Microfin CEO Sadaf Sayeed said the financial performance over the first half of this financial year was the result of building a flexible operational framework. "This ensures we are consistently delivering lending options to our customers, enabling them to be financially independent," Sayeed said in the release. Muthoot Microfin MD Thomas Muthoot said the company firmly believes that their initiatives will chart the path towards sustainable and ..

Launch portfolio to support sales momentum for real estate major DLF

The sales in the quarter were led by the premium Camellias project which had bookings of Rs 720 crore

REC registers highest ever quarterly profit at Rs 3,773 crore in Q2FY24

The company also said its net worth has also grown by 18 per cent to Rs 63,117 crore

API Holdings' Rs 3,500 cr rights issue oversubscribed: Dhaval Shah

He said in November 2022, the firm had aimed for profitability by April 2023

JM Baxi Ports' Rs 2,500 crore IPO hangs fire amid promoter family feud

The ports and logistics major was in the process of filing DRHP last year

Peak XV's scale-up programme Surge announces the ninth cohort of startup

In Australia and Singapore, companies are developing platforms with emerging technologies in AI, deeptech and SaaS - a reflection of the remarkable growth these sectors have seen in recent years

L&T Finance Holdings Q2 results: Net profit rises 46% to Rs 595 crore

Its net interest income rose by 11 per cent year-on-year to Rs 1,726 crore

Poonawalla Fincorp's Q2 results: Net profit up 77% to Rs 230 crore

Net Interest Margin (NIM) saw an improvement of 106 basis points to 11.42 per cent from the year-ago period

Wipro posts flat Q2 profit, cuts Q3 revenue growth guidance on weak demand

The operating margin expanded 100 basis points to 16.1 per cent in the second quarter from 15.1 per cent in the year-ago period