Tata Steel Q1 net profit falls over 93% to ₹524.85 crore
The Hindu
Tata Steel posted over 93% decline in consolidated net profit to ₹524.85 crore for the April-June quarter
Tata Steel on July 24 posted over 93% decline in consolidated net profit to ₹524.85 crore for the April-June quarter of 2023-24 on account of higher expenses.
It had posted ₹7,714 crore net profit in the corresponding period of 2022-23, according to a company filing to exchanges.
Total income also declined to ₹60,666.48 crore from ₹63,698.15 crore in the year-ago quarter, a fall of 4.75%.
Expenses soared to ₹58,553.25 crore in the first quarter of FY24 as against ₹51,912.17 crore a year ago.
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.
NTPC Green Energy IPO oversubscribed by 93% on day 2, raising ₹3,960 crore for renewable energy projects.
Chief Economic Advisor advises India Inc to focus on productivity, R&D, and quality over reliance on weak currency for exports.
Private telcos lost over 1 crore wireless subscribers in September, while BSNL added 8.5 lakh users, refusing to hike tariffs.
Gautam Adani indictment may become a factor in future negotiations between the Adani Group and Bangladesh, energy experts in Dhaka say