The net profit was supported by lower tax outgo of Rs 59.66 crore compared with Rs 96 crore a year ago. The company’s plant load factor (PLF) from coal-based power plants barring 3,960-Mw Sasan Ultra Mega Power Project (UMPP), dropped in April-June quarter.
For the six – Flipkart, Snapdeal, Paytm, Ola, Zomato and the latest entrant Swiggy – it was the quest for capital to scale their businesses that was easily available from entities across the border that had the founders dilute their stakes in their ventures.
The company reported a net profit of Rs 2,093 crore while consolidated revenues stood at Rs 14,827 crore, registering a sequential growth of 3.6 per cent. The company’s flagship IT services revenues stood at Rs 13,700 crore.
PACL had submitted a proposal to the committee to recover over Rs 15,000 crore in two years. According to the proposal, the company offered to bring in buyers to purchase its assets for a total consideration of at least Rs 15,000 crore.
Wipro's focus will be to modernise Alight's core technology assets and further automate its operations to enhance the user experience of Alight's end customers, it said.
JSW Steel is one of India’s leading steel makers with a total capacity of 18 million tons per annum. It has plants in Karnataka, Tamil Nadu and Maharashtra. JSW Steel has also joined hands with Numetal to bid for Essar Steel.
While main promoter HDFC will dilute 4.08 per cent to the public through the offer, foreign partner Standard Life will sell 8.1 per cent of its holding in the fund house, one of the largest among the private players.
Owners of Sterling Group, Nitin Sandesara and Chetan Sandesara, floated close to 300 shell firms to fraudulently move and layer the loan money abroad, as per the chargesheet.
Earlier on May 22 it had ordered status quo on the insolvency of Essar Steel for two months as it admitted petitions of Numetal and ArcelorMittal over the bidding eligibility.
Brian Crutcher, who was appointed chief executive officer and president on June 1, has worked at Texas Instruments for the past 22 years, holding various positions including executive vice president and chief operating officer.
Operational creditors conoveyed to the NCLAT that their representative was not allowed to attend the meeting. There are 1,700 operational creditors and all of them would be wiped out if their money is not recovered, they said.
Financial creditors of Essar Steel have filed claims worth Rs 54,917 crore, while those for Bhushan Steel had submitted claims worth Rs 56,079 crore, data from the companies’ websites showed.
The Gurugram-based grocery start-up said in its quest to exceed customers' satisfaction, it is currently upgrading operations. Grofers also strongly believes in delivering an unparalleled experience to its buyers, it added.
The company's current portfolio consists of 138 products authorised for distribution in the US market, and 62 Abbreviated New Drug Applications (ANDAs) are pending approval with the USFDA.
Elon Musk's spat with British caver Vernon Unsworth started last week, after rescue teams rejected Musk's offer of a mini-submarine created by his rocket company to help rescue a 12-member soccer team and their coach trapped inside a flooded cave.
If the EEOC finds Uber broke the law by paying women differently than men for the performing the same jobs, the agency could slap fines on the company as punishment.
The government owns 85.96 per cent stake in IDBI Bank, while LIC has 7.98 per cent shareholding in the lender, as per the June-end shareholding details available with the Bombay Stock Exchange.
HUL shares closed at Rs 1,753.85, up 0.73 per cent, on the BSE on Monday.
"Our association with the Ministry of Skill Development and Entrepreneurship is aimed at empowering our direct sellers with government recognised certification in line with Amways vision," said Anshu Budhraja, CEO, Amway India.
Sector regulator the Petroleum and Natural Gas Regulatory Board (PNGRB) on May 4 supported the Reliance idea and sought industry comments on declaring pipelines as a common carrier and giving third parties access.