IDFC First Bank posts Rs 101 crore profit in Q2 on interest income, lower provisioning
NEW DELHI: IDFC First Bank on Saturday reported a net profit of Rs 101 crore for the July-September quarter of the current fiscal year on healthy interest income and lower provisions. The private sector lender had posted a net loss of Rs 680 crore in the same quarter a year ago. The profit after tax […]
Amit Shah to hold BJP organisational meetings during two-day West Bengal visit
NEW DELHI: India’s Home Minister Amit Shah will hold organisational meetings with BJP activists in Bankura and Kolkata during his two-day visit to West Bengal from November 5, a senior party leader said on Saturday. A preparatory meeting was organised by the state BJP in the evening, party sources said. “Amit Shah Ji will arrive […]
DLF-GIC joint venture to be ready for launch of its REIT in 15-18 months
NEW DELHI: Realty major DLF’s rental arm DCCDL has started the process of structuring its rent-yielding commercial assets in Real Estate Investment Trust (REIT) form but the timing to launch the public issue will be decided by the promoters. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF and Singapore’s sovereign wealth […]
IOC Q2 net profit soars 10-fold to Rs 6,227 crore
NEW DELHI: India’s top oil firm Indian Oil Corporation (IOC) on Friday reported a 10-fold jump in its September quarter on the back of inventory gains and better margins. The company reported a standalone net profit of Rs 6,227.31 crore, or Rs 6.78 per share, in the July-September quarter, as compared to ₹563.42 crore net […]
Wheels India plans Rs 72 capex, Rs 41 crore for windmill segment
NEW DELHI: Automotive wheels and windmill component maker Wheels India Ltd has decided on a capex of Rs 72 crore starting this fiscal, said a top company official. “The fresh capex planned is Rs 72 crore. Some of that will start towards the end of this fiscal. About Rs 41 crore of that will be […]
Intellect Design posts Rs 59 crore net profit for Q2
NEW DELHI:Financial software technology company Intellect Design Arena Ltd on Friday said it closed the second quarter of this fiscal with a net profit of Rs 59.2 crore. In a statement issued here, Intellect Design said it had posted a net profit of Rs.59.2 crore on a consolidated basis for the period ended September 30, […]
100% vehicle tax waiver till December 31 for Punjab bus operators
NEW DELHI: In a major relief to bus operators in Punjab, Chief Minister Amarinder Singh on Friday ordered 100 per cent waiver on motor vehicle tax till December 31 for all stage carriage, mini and school buses, while deferring payment of arrears of taxes without interest and penalty till March 31, 2021. The move will […]
Income Tax refunds of Rs 1.27 trillion issued so far this fiscal: Finance Ministry
NEW DELHI: Income Tax refunds worth Rs 1.27 lakh crore has been issued to individuals and businesses so far this fiscal, Finance Secretary Ajay Bhushan Pandey said on Friday. He said the quick refund payment system is fully automated and transparent and the revenue department is monitoring the refund system every week. “In this financial […]
Reliance Jio’s Q2 net profit logs near 3-fold jump
NEW DELHI: Telecom major Reliance Jio Infocomm on Friday reported a near three-fold rise in its standalone net profit for the July-September quarter at Rs 2,844 crore. During the same period of last year, the company had reported a consolidated net profit of Rs 990 crore. Jio’s revenue from operations during the period under review […]
RIL’s Q2FY21 consolidated net profit slips to Rs 10,602 crore
NEW DELHI: Reliance Industries Ltd (RIL) on Friday reported a decline in its consolidated net profit for the quarter ended September 30 of FY2020-21 on a year-on-year (YoY) basis due to the effect of an exceptional item. Accordingly, the company’s consolidated net profit during the first quarter of FY21 declined to Rs 10,602 crore from […]
ICICI bank’s Q2FY21 net profit zooms to Rs 4,251 crore
NEW DELHI: Private sector lending major ICICI bank on Saturday reported an exponential rise in standalone net profit for the second quarter of 2020-21. Accordingly, the lenders net profit rose to Rs 4,251 crore ($576 million) in the quarter ended September 30, 2020 from Rs 655 crore ($89 million) reported for the corresponding quarter of […]
Embassy REIT raises Rs 750 crore via NCDs
NEW DELHI: Embassy Office Parks REIT on Tuesday said it has raised Rs 750 crore by issuing debentures on private placement basis and will use the funds for completing ongoing commercial projects and recent acquisition. Embassy REIT is the country’s first listed REIT (Real Estate Investment Trust) and the largest in Asia by area. It […]
DLF’s net profit dips 48% at Rs 232.14 crore in Q2 FY21
NEW DELHI: Realty major DLF on Friday reported a 48 per cent decline in its consolidated net profit at Rs 232.14 crore for the quarter ended September. Its net profit stood at Rs 445.83 crore in the year-ago period. Total income fell to Rs 1,723.09 crore in the second quarter of this fiscal from Rs […]
LafargeHolcim’s operating profit rises 1.9% to $1.6 billion in Q2 FY21
ZURICH: LafargeHolcim gave an upbeat assessment about the construction industry on Friday, upping its full-year guidance and saying the COVID-19 recovery was well under way. The world’s biggest cement maker said it was seeing demand for its products rebound, particularly in South America and India, and was looking forward to the launch of government stimulus […]
WeWork aims to become profitable in 2021 globally: CEO
NEW DELHI: Co-working major WeWork will focus on achieving profitable growth globally, including in India, in 2021 by increasing the occupancy level of its real estate portfolio, the company’s CEO Sandeep Mathrani said. Further, Softbank backed-WeWork will revisit its plan to launch an initial public issue (IPO) only after it becomes profitable, said Mathrani, who […]
Amazon asks Sebi, bourses to note arbitration ruling on Future-RIL deal
NEW DELHI: E-commerce giant Amazon has written to markets regulator Sebi and stock exchanges, urging them to take into consideration the Singapore arbitrator’s interim judgement that has put on hold the Rs 24,713-crore deal between Future group and Mukesh Ambani’s Reliance Industries Ltd while reviewing the proposed transaction, according to sources. The sources said that […]