MRF Q3 net dips by 71.49% to ₹145.85 crore
The Hindu
Total expenditure grew by ₹751 crore to ₹4,701.55 crore
Leading tyre manufacturer MRF Ltd. standalone net profit for the third quarter ended December contracted by 71.49% to ₹145.85 crore, due to higher raw material prices and changes in inventories of finished goods.
During the period under review, revenue from operations rose 6% to ₹4,830 crore. Total expenditure grew by ₹751 crore to ₹4,701.55 crore.
Cost of materials consumed increased by 14% to ₹2,989 crore. Changes in inventories of finished goods saw a loss of ₹106 crore against a gain of ₹224 crore, it said in a regulatory filing.
Vodafone sells stake in Indus Towers for ₹2,800 crore, uses proceeds to clear lenders dues and increase Vi shareholding.
SpiceJet to unground 10 more aircraft by mid April after raising funds, growing active fleet size to 28.
UN report projects Indian economy to grow by 6.6% in 2025, driven by private consumption and investment, with strong export growth.
Supreme Court halts ₹1 lakh crore GST notices to online gaming companies and casinos for alleged tax evasion.
Punjab Government rejects Centre's draft policy on agricultural marketing, citing concerns over private markets and MSP procurement.
CEAMA urges tariff reductions, PLI scheme expansion, and tax rationalization to boost Indian electronics industry competitiveness.
Sensex and Nifty rebounded but fell due to foreign fund outflows, with TCS leading gainers and FIIs selling off equities.
Adani Group to raise ₹7,148 crore by selling stake in Adani Wilmar, focusing on infrastructure business growth.
India's GDP growth rate decline, official estimates questioned, and economic slowdown analysis by experts and academics.
GrayQuest raises ₹80 crore in Series B funding to enhance technology platform and scale distribution in education ecosystem.
L&T chairman sparks outrage advocating 90-hour work week, reigniting work-life balance debate in India.