SPIC Q1 profit surged tenfold to ₹28 cr.
The Hindu
Southern Petrochemical Industries Corporation Ltd. (SPIC) standalone net profit for Q1 FY22 has risen by tenfold to ₹28 crore.Revenue from operations rose 56% to ₹499 crore. SPIC produced and sold ure
Southern Petrochemical Industries Corporation Ltd. (SPIC) standalone net profit for Q1 FY22 has risen by tenfold to ₹28 crore. Revenue from operations rose 56% to ₹499 crore. SPIC produced and sold urea of 1.80 lakh tonnes and 1.78 lakh tonnes respectively. It operated for 80 days against 70 days in the year-earlier period, it said in a regulatory filing. Since March 13, SPIC has started using natural gas as a feed stock instead of naphtha and hence it was eligible for higher fiscal incentives in the form of subsidy income on account of stricter higher energy norms for the next five years. The subsidy for this quarter is ₹381 crore.
Rupee trading in narrow range as U.S. dollar strengthens, Brent oil rises amid Ukraine-Russia conflict, FIIs sell equities.
Billionaire Gautam Adani indicted in U.S. for fraud and bribery, facing charges of defrauding American investors.
Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to develop a built-to-suit facility for the AME program that will feature modern classrooms, well-equipped laboratories for practical training and a team of qualified trainers.
Zepto raises $350 million in largest domestic fundraise in India, backed by leading financial institutions and notable individuals.
Adani Enterprises Ltd stock dips on NSE and BSE after Kenyan project cancellations and U.S. court allegations.
HSBC Flash India PMI shows uptick in private sector activity, with rising cost pressures and increased prices for customers.
Rupee rises slightly against US dollar amid geopolitical pressures, foreign outflows, and domestic equities; Brent oil surges.
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
The pandemic-induced downturn marked a turning point for cab drivers in Bengaluru. According to Tanveer Pasha, president, Ola and Uber Drivers’ Association, the number of active cabs in the city has dropped from over 1 lakh before the pandemic to just around 30,000 today.
Amazon will likely face an EU investigation next year into whether it favours its own brand products, said sources.
White House addresses bribery charges against Indian billionaire Adani, expresses confidence in U.S.-India relationship.