Tag Archives: PUBL

BENGALURU, July 24 (Reuters) – India’s Byju’s and its lenders, who own more than 85% of the edtech startup’s $1.2 billion term loan, have agreed to work towards amending that loan by Aug. 3, the steering committee of the creditors group said on Monday. The successful execution of the loan …

BENGALURU, July 24 (Reuters) – India’s Mahindra Logistics ( MALO.NS ) swung to a loss in the first quarter on Monday, hurt by higher expenses and lukewarm demand. The freight carrier posted a consolidated net loss after tax of 85.5 million rupees ($1.04 million) in the three months ended June …

NEW DELHI/BENGALURU, July 24 (Reuters) – Troubled Indian startup Byju’s has cut down on its office spaces in Bengaluru, two sources told Reuters on Monday, as the company tries to cut costs and ramp-up liquidity. The move comes as the edtech company has already let go of thousands of employees …

BENGALURU, July 24 (Reuters) – Indian mortgage lender PNB Housing Finance (PNBH.NS) on Monday posted a nearly 48% rise in its first-quarter profit, driven by robust demand for housing loans and improved asset quality. PNB Housing, a unit of state-run lender Punjab National Bank (PNBK.NS), said its consolidated net profit …

BENGALURU, July 24 (Reuters) – India’s ITC Ltd (ITC.NS) said on Monday it would spin off its hotels business from the rest of the company, separating it from its cigarettes and food businesses. The cigarettes-to-hotels conglomerate would hold a 40% stake in the newly formed entity, to be named ITC …

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) …

BENGALURU, July 22 (Reuters) – Indian digital payments firm Paytm (PAYT.NS) reported a 39% rise in quarterly revenue, helped by soaring demand for loans. One 97 Communications Ltd (PAYT.NS), parent of India’s no. 2 digital payments app by market share, reported late Friday that revenue rose 39% year-on-year to 23.42 …

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 …

MUMBAI, July 22 (Reuters) – India’s Yes Bank (YESB.NS) reported a smaller-than-expected increase in quarterly net profit on Saturday as it set aside more money for aging bad loans and security receipts, denting the impact of higher net interest income. The private lender’s standalone net profit rose 10.3% for the …

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) …