India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
The company added 95 lakh new 4G subscribers taking its total 4G subscriber base to 7.53 crore inching closer to its peer Bharti Airtel which reported 4G customer base of 7.7 crore.
Rajneesh Gupta presents all the important numbers after the second week of IPL 2021.
The bilateral trade grew by 4.6 per cent from $68.4 billion in 2011 to $ 71.6 billion in 2012.
Low-cost air carrier SpiceJet is looking at ways to raise around $75 million (Rs 335 crore). The airline has given the mandate to IDFC-SSKI for raising funds through preferential allotment of shares and strategic sale. "IDFC-SSKI is working on it and the money will be raised through both preferential allotment of shares and strategic sale," said a Mumbai-based investment banker, who is associated in this deal.
Govt is set to garner Rs 1 lakh crore from sale of radiowaves.
While the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
On December 31, SpiceJet's accumulated losses had grown to Rs 3,233 crore.
Proposal to provide weighted deduction at 150 per cent of expenditure incurred on skill development in manufacturing sector.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
As many as eight companies have completed their share buyback plans in the first quarter of 2014-15, purchasing stocks worth nearly Rs 222 crore (Rs 2.22 billion) which is 75 per cent of the collective target.
Air India's outstanding debt stood at a whopping Rs 26,033 crore (Rs 260.33 billion) and its working capital loans were over Rs 21,125 crore (Rs 211.25 billion) as on December 31 last year.
Mahindra Group retail subsidiary Mahindra Retail Pvt Ltd is planning to invest up to Rs 100 crore (Rs 1 billion) as part of its strategy to strengthen presence in the speciality chain 'Mom and Me'.
IOC encashed the bank guarantee Kingfisher had given for buying aviation turbine fuel or ATF for its fleet of 75 aircraft, 10 days ago, industry sources said. As on April 20, the private air-carrier owed IOC about Rs 160 crore (Rs 1.6 billion) in fuel bills. It sent a cheque of this amount to IOC but the cheque bounced, forcing IOC to encash the bank guarantee.
Telecom operators owe government a huge amount of Rs 17,980.77 crore in licence fee and spectrum charges, but the outstandings are under litigations, Parliament was informed on Wednesday.
Punjab Kings, who had paid Rs 10.75 crore for Maxwell in the previous auction, had released the 32-year-old following the 2020 edition in which he made 108 runs in 13 games at 15.42.
While Air India owes Rs 450 crore (Rs 4.5 billion), beleaguered Kingfisher Airlines has unpaid dues of Rs 75 crore (Rs 750 million) and both carriers have been put on the cash-and-carry mode of payment.
The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
The Indian Railways on Wednesday said it suffered an estimated loss of Rs 13,675 crore (Rs 136.75 billion) in the current fiscal on account of various social service obligations, including suburban and non-suburban services.
The scrip was the worst hit among the front-line companies on both the indices during the day.
The cover, touted as one of the highest taken by an individual, is in two parts: a fire insurance policy of Rs 75 crore (Rs 750 million) and an additional cover of Rs 25 crore (Rs 250 million) for items within the house.
Coming out of the red after virtually wiping out Rs 124 crore (Rs 1.24 billion) accumulated losses, leading watchmaker Timex is investing Rs 6.75 crore (Rs 67.5 million) as it expects to earn profits this year.
The month also saw Adani Power acquiring the 600-Mw Korba West thermal power plant from the Gautam Thapar-led Avantha group for Rs 4,200 crore (Rs 42 billion).
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Under Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel-III.
Christie's second art auction in Mumbai saw 78 works by Indian artists fetching a total of Rs 75.27 crore.
Only 14 routes of the 202 on which the airline operates, meet the total cost of operations.
The Bharatiya Janata Party candidate and spokesperson Meenakshi Lekhi filed her nomination papers from the New Delhi constituency on Friday and declared her assets worth over Rs 34 crore which includes wealth of her husband and two children.
In the top-10 ranking list of most valued companies, TCS stood at number one position followed by RIL, HDFC Bank, ITC, Infosys, HDFC, ONGC, CIL, SBI and HUL
In just four days of auction, the bid for the pan-Indian broadband wireless access spectrum has gone up by three times to Rs 5,245 crore (Rs 52.45 billion) against the base price of Rs 1,750 crore (Rs 17.50 billion).
On building a world class digital infrastructure, he said that 75 per cent work was done and it would be available by middle of 2015.
Snapdeal to acquire GoJavas for Rs 200 cr, say sources.
Reliance Jio Infocomm, expected to start commercial operations in the Indian telecom space in the next few months, had a net worth of Rs 5,026.16 crore, the company said in a statement submitted to the Department of Telecommunications (DoT) on Monday.
The Indian Air Force's long pending requirement of basic trainer aircraft can now be met with the acquisition of 75 Pilatus planes starting later this year under a Rs 2,800 crore deal signed today with the Swiss company.
On the equity volume front, 7.66 lakh shares of the company were traded on BSE and over 91 lakh shares changed hands at NSE during the day.
Funds raised were to support financing activities and meet working capital needs.
This forms about 7.5 per cent of India's projected investment of Rs 5,28,316 crore (Rs 5,283.16 billion) in overall infrastructure during the next financial year and over a fourth of the Rs 1,59,000-crore (Rs 1,590-billion) investment to be made in the electricity sector alone in 2011-12, the terminal year of the current Plan period.
Reliance Industries emerges biggest gainer
The strong inflow in MF schemes coincided with a gain in BSE's benchmark Sensex by two per cent last month.
Kingfisher had been asked to give its repayment plan in that meeting, failing which the lenders would not be shy of starting the process to sell its assets pledged with them, bankers said.
Kotak Mahindra Bank on Thursday said it planned to expand its network to about 75 branches in three years.
