'Personal income tax collections have been high on account of impressive advance tax mop-up.'
The tournament initiative was to launch on Wednesday - Ukraine Independence Day - with the exhibition event at Louis Armstrong Stadium
Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
Revenue of the Mumbai-based firm grew 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.
BCCI secretary Jay Shah spoke on a range of subjects related to Indian cricket, IPL's place in the global cricket calendar, running the cricket establishment in times of COVID-19 and the road ahead for both Indian cricket and IPL.
Sourav Ganguly-led BCCI's demand is for a tournament involving the 'Big Three' of India, Australia and England plus another country to be slotted into an already bursting schedule, putting it on course for a clash with the ICC, which has enjoyed a period of calm in recent years at its Dubai headquarters. India's 'Super Series' proposal is a concern to many in the game, including the executive chairman of the Federation of International Cricketers' Associations (FICA), Tony Irish.
Paytm's Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale on Wednesday, making it one of the country's most valued companies. The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges. While the portion set aside for retail investors was oversubscribed early, institutional buyers including FIIs flooded the share sale with offers on Wednesday, seeking 2.79 times the number of shares reserved for them.
Debt-ridden telecom operator Vodafone Idea is evaluating the option of converting interest dues arising out of the deferment of statutory payments into equity, a senior company official said on Monday. The company is also in talks with banks and investors for raising funds and part of the proceeds is likely to be utilised towards meeting obligations related to debt maturing this fiscal, Vodafone Idea Limited (VIL) chief financial officer Akshay Moondra said during the company's earning call. VIL MD and CEO Ravinder Takkar said the company expects to conclude fund raising plan by the end of the current financial year.
'So far we have paid our salaries and pension in full because we had some reserve fund.' 'But we cannot afford to do so for more than another three months.'
Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said. The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources. According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
The Board of Control for Cricket in India will only consider staging the Indian Premier League (IPL) abroad as a last resort if there is no other way to salvage the lucrative limited-overs tournament this year, a top BCCI official said. The annual tournament was originally scheduled to begin on March 29 but was postponed indefinitely due to COVID-19. India's death toll from the pandemic surpassed 20,000 on Tuesday.
'The Jalan Committee has now provided very clear guidelines on how the (RBI's) balance sheet should be looked at, what kind of disclosures should be made, what are the principles on which the Contingency Risk Buffer should be maintained, what should be the revaluation reserves, and the market risk to the Contingency Risk Buffer.'
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
A long and bitter funding winter in the start-up world is beginning to take its toll on start-up advertising across properties. Earlier this week, Mastercard replaced Paytm as the title sponsor for all international and domestic cricket matches organised by the Board of Control for Cricket in India (BCCI). But this is just one part of the story. The other side is that organisers of high-impact shows and events on Hindi general entertainment channels, too, are feeling the winter chill.
Amid economic uncertainties owing to the pandemic, the government's key revenue agency, the Income Tax Department, has close to 400 vacancies at commissioner level and above, affecting its functioning. Seventy-three of the 91 chief commissioner positions are lying vacant, with some for more than a year. Chief commissioner is the second-highest post in the department, below principal chief commissioner, which is at par with secretary in a ministry.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
The SIT was created by Supreme Court and notified by the government last year to curb black money.
Congress legislature party leader said the MVA is on a stronger wicket legally.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
Hindustan Zinc (HZL), a subsidiary of Vedanta, announced an interim dividend of Rs 21 per share last week, resulting in an outflow of Rs 8,863 crore. The announcement has turned the spotlight on India Inc's dividend-paying policy - more so for reasons driving the generosity of firms. An analysis of BSE 500 companies by Business Standard Research Bureau shows that some of the top 20 dividend-paying companies in 2021-22 (FY22) include Vedanta, Tata Consultancy Services, HZL, Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IndianOil), Hindustan Unilever (HUL), Reliance Industries (RIL), and Bajaj Auto, among others.
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 8,250 crore through an initial share-sale.
In 2020-21, business activities were hit by the coronavirus pandemic. Biyani's annual remuneration stood at Rs 3.86 crore in 2019-20, according to Future Retail Ltd's (FRL) annual report for 2020-21. FRL's managing director Rakesh Biyani also saw his remuneration decline by 4.82 per cent to Rs 3.75 crore in the financial year ended March 31, 2021.
Originally, the ICC had agreed to give US$293 million but, after hectic negotiations, its chairman Shashank Manohar agreed to increase it by US$100 million.
Revenue grew 5.1 per cent in the quarter under review to Rs 39,946 crore from Rs 38,010 crore in the corresponding period last fiscal.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
In conversation with Deepsekhar Choudhury and Neha Alawadhi, Sharma speaks about his journey and the road ahead.
As the start-up ecosystem undergoes revenue losses and client attrition, 5paisa.com had a good quarter recently in terms of client addition and continues the streak of business growth in the April-June period so far.
While the ratio determines the extent to which the government is able to finance its expenditure, it is also an indicator of tax compliance. Developed countries have a higher contribution of tax to their GDP.
'I told myself, I will be 23 next year. Why can't I be a billionaire too?'
Baba Ramdev's Patanjali Ayurved is considering bidding for the title sponsorship of the upcoming Indian Premier League, according to a company official.
PCB Chairman Ehsan Mani had insisted that although the PCB had suffered losses because of absence of series against India but it can live without playing them. The PCB also faced financial disagreements with its last broadcaster over the unscheduled home series against West Indies etc.
The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday reported 6.14 per cent decline in consolidated net profit at Rs 1,241.1 crore for the fourth quarter ended March 31, 2021. The auto major had posted a net profit of Rs 1,322.3 crore in January-March quarter of 2019-20, MSI said in a regulatory filing. However, revenue from sale of products stood at Rs 22,959.8 crore as compared with Rs 17,187.3 crore earlier, up 33.58 per cent.
Cricket Australia, who is undergoing financial due to global lockdown, received a boost with the government set to give the Indian team international travel exemptions.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
In a statement by BCCI secretary Jay Shah, 'the move was made considering the monsoon season in India in the months of September-October this year'.
'Some of the conditions put forth by the UAE authorities make it next to impossible for the PCB to host the matches in UAE.'
Last week, the International Cricket Council (ICC), after a board meeting, said a decision regarding the tournament will be made next month.
President Ram Nath Kovind on Monday appointed Chandra as 24th CEC on Monday.
Monetising online readership, a deeper focus on content and getting revenue from the reader are ways to make the business future-proof, observes Vanita Kohli-Khandekar.
