Tag Archives: BIZ

India’s Reliance shares drop after Q1 profit misses estimates

BENGALURU, July 24 (Reuters) – Shares of Reliance Industries (RELI.NS), India’s largest company by market capitalization, fell nearly 3% on Monday after the conglomerate posted a bigger-than-expected drop in its first-quarter profit late on Friday. Weak demand and a steep fall in refining margins impacted the company’s flagship oil-to-chemicals (O2C) …

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India’s ICICI Bank beats estimates with record April-June net profit

MUMBAI, July 22 (Reuters) – ICICI Bank (ICBK.NS), India’s second-largest private lender, beat expectations to deliver a record first-quarter net profit on Saturday, helped by higher interest income and loan growth. The Mumbai-based lender reported a near-40% rise year-on-year in net profit to 96.48 billion rupees ($1.18 billion) for the …

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India Kotak Mahindra Bank’s 67% profit jump beats expectations

MUMBAI, July 22 (Reuters) – India’s Kotak Mahindra Bank (KTKM.NS) beat expectations on Saturday with a 67% year-on-year rise in net profit for the April-June quarter, helped by higher net interest income and robust loan growth. The Mumbai-based private lender’s standalone net profit rose to 34.52 billion rupees ($421.1 million) …

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India’s Vedanta posts 41% slump in Q1 profit on soft metal prices

BENGALURU, July 21 (Reuters) – Indian metals-to-oil conglomerate Vedanta ( VDAN.NS ) reported a 40.8% plunge in first-quarter profit on Friday, as weak commodity prices outweighed a slight increase in production and sales for metals like aluminum . Consolidated profit after tax declined to 33.08 billion rupees ($403.55 million) for …

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India’s Reliance misses profit view as oil-to-chemicals business drags

BENGALURU, July 21 (Reuters) – Reliance Industries (RELI.NS), India’s most valuable company, reported a wider-than-expected drop in first-quarter profit on Friday, as its flagship oil-to-chemicals (O2C) business was hurt by weak demand and a steep fall in refining margins. Reliance’s O2C business is still its main growth engine that powers …

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India regulator permits Go First to resume flying with conditions

NEW DELHI, July 21 (Reuters) – India’s aviation regulator on Friday gave its nod to Go Airlines (India) to resume operations if it can meet certain conditions, including getting interim funding and approval of its flight schedule, an order viewed by Reuters showed . The cash-strapped airline stopped flying operations …

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