Tag Archives: BIZ

India’s Tata Consumer posts Q1 profit miss on higher expenses

CHENNAI/BENGALURU, July 26 (Reuters) – India’s Tata Consumer Products (TACN.NS) reported a smaller-than-expected 24% rise in first-quarter profit on Wednesday, as mounting expenses outpaced higher sales of its eponymous packaged food and beverages. The Kolkata, West Bengal-based company said its consolidated net profit rose to 3.17 billion Indian rupees ($38.66 …

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India’s Tech Mahindra posts 39% drop in Q1 profit as clients cut spending

BENGALURU, July 26 (Reuters) – India’s Tech Mahindra (TEML.NS) on Wednesday posted a surprise 39% drop in first-quarter profit, as challenging macroeconomic conditions prompted clients to curb spending. The company’s consolidated net profit fell to 6.93 billion rupees ($84.5 million) for the quarter ended June 30. Analysts were expecting profit …

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Colgate-Palmolive’s Indian unit reports Q1 profit rise on demand recovery

[1/2]Colgate toothpaste is pictured on sale at a grocery store in Pasadena, California January 30, 2014. REUTERS/Mario Anzuoni/File photo BENGALURU, July 26 (Reuters) – Toothpaste maker Colgate-Palmolive (India)’s (COLG.NS) quarterly profit rose 30.5% on Wednesday, aided by improved domestic demand. Net profit roseto 2.74 billion rupees ($33.40 million) for the …

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India’s Mahindra & Mahindra picks up 3.53% stake in RBL Bank for $51 mln

BENGALURU, July 26 (Reuters) – Indian tech-to-tractor conglomerate Mahindra & Mahindra (MAHM.NS) on Wednesday said it bought a 3.53% stake in private lender RBL Bank (RATB.NS) for 4.17 billion rupees ($50.8 million). The company might consider further investment in the lender subject to pricing, regulatory approvals and required procedures, Mahindra …

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India’s offer to privatise rocket has 20 potential bidders

BENGALURU, July 27 (Reuters) – The Indian government’s effort to privatise part of its space programme by opening bids to build its small satellite launch rocket has attracted initial interest from 20 companies, an official overseeing the process told Reuters. India’s Small Satellite Launch Vehicle (SSLV) was developed by the …

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