Eternal (formerly known as Zomato) reported a net profit of Rs 39 crore for the fourth quarter of FY25, down 77.7 per cent year-on-year from Rs 175 crore in the same period a year ago. On a sequential basis, profit was also down 33.8 per cent from Rs 59 crore in the preceding quarter (Q3FY25).
The upcoming Union Budget to be presented on February 1 is likely to assume a nominal gross domestic product (GDP) growth between 10 and 10.5 per cent for FY26, a Business Standard poll of 10 economists showed. The first advance estimates released by the National Statistics Office (NSO) had estimated a nominal GDP growth of 9.7 per cent for FY25. Nominal GDP, calculated at current market prices, factors in the effect of inflation. It is used as the base to calculate crucial macroeconomic indicators, such as fiscal deficit, revenue deficit, and debt-to-GDP ratio.
'Regulatory challenges exist everywhere. What we look for is regulatory stability over time.'
'For us, it's "keep moving and keep building a critical mass", which is commensurate with the size of the country.'
Mutual funds (MFs) reinforced their record monthly inflows in October with an investment of Rs 87,000 crore (up to October 29), softening the downside pressure on domestic markets. Their prior record for monthly inflows was Rs 48,139 crore in May. This unprecedented monthly buying partially countered record monthly sales by foreign portfolio investors (FPIs) of Rs 1.1 trillion last month.
'Earlier, our cost of funds was higher than most in the peer group.'
The Indian Council of Medical Research was in talks with the Serum Institute of India for local manufacturing of monoclonal antibodies (MABs). However, it did not take off, as the volume was much less in India.
'The IPL provides a different ladder in terms of recognition.' 'If you do well, you will obviously get noticed and it enhances your selection into white-ball formats.'
The charging infrastructure expansion includes the setup of over 600 DC charging stations by 2030 (including company-owned and company-operated ones) in addition to partnerships with over 10,200 charging points, collaborating with operators like Shell, Charge Zone, and Statiq.
'I am more optimistic about India than before.'
'Dynastic politics has become a tool of convenience for political parties. The BJP does not hesitate to accept it when it comes to its own alliance or party candidates. The same goes for the others.'
Both new and completed project values as of December 2024 remain below pre-pandemic levels seen in 2019.
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
The implementation of this toll collection system, which will eventually eradicate toll booths, necessitates the fitting of an on-board unit (OBU) in every vehicle that can track a vehicle's location in real time.
With rising disposable incomes in cities beyond metros, the penetration of credit cards - and consequently, credit card spending - is growing at a much faster pace than in traditional metro cities, primarily driven by e-commerce spending.
Can a culture survive as a way of life, even as the language and writing at its core, alter with time? Can we be rational and Malayalee or do we have to necessarily be religious and proudly cultural to be Malayalee? asks Shyam G Menon.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
'In the past six months, capital markets have seen a dip, and realty is struggling. The stock-market investor will be cautious of putting that investment in real estate when there may be a slowdown coming.'
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
'This is also a time when you realise that short-term trading and dabbling in derivatives may result in financial losses.'
'Everything can be resolved, but my husband's legacy is not up for sale.'
'I certainly hope the two can avoid a trade war and believe they will.' 'I expect some in India will push for retaliatory tariffs if the Trump administration applies significant reciprocal tariffs.'
'At present, we are conducting internal consultations with legal minds and other stakeholders.' 'Once we have a reasonable draft, we'll then engage in broader consultations.'
'Every Indian should move to an EV, and the government should not buy any fossil fuel cars. The government should become the first driver of EV adoption.'
The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, it has already started work with used online car marketplace Spinny.
Amid slowing volume sales among India's major automakers, Toyota Kirloskar Motor (TKM) has defied the trend with strong growth, driven by demand for hybrid vehicles and a reliable product line up. The company expects this momentum to continue in 2025. "The overall response to our cars has been fabulous. So, we foresee the same momentum in 2025 as well," Sabari Manohar, vice-president, sales-service-used car business, TKM, said.
UK-based Standard Life, the joint venture partner in HDFC Standard Life Insurance and HDFC Asset Management Company, is entering the Indian private equity space. Gerry Grimstone, chairman of the British insurance major, speaks to Business Standard's Shilpy Sinha on the impact of the economic slowdown and the company's investment plans.
Auto majors report positive sales figs for November.
Reliance Industries Ltd, India's most valuable company, on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in April-June -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.
At the PMO, policies are framed by factoring in analytical perspectives, implications, sustainability, and other dimensions.
'Expect India to keep doing well irrespective of geopolitics.'
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
Akasa Air has asked the Directorate General of Civil Aviation (DGCA) to exempt it from deploying CAT-III trained pilots on flights to and from two major fog-affected airports, Kolkata and Bengaluru, for specific periods, since there is a shortage of such pilots in its roster.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
'By March-end, we should have closure of the PNC portfolio. After completion of PNC acquisition.'
These "cyber commandos" will be different from personnel at cyber police stations and will work with local administration to tackle cyber threats.
User protection and a proposal for a licensing framework for companies seeking to operate in the cryptocurrency area will be part of an upcoming consultation paper on the sector, said a senior industry executive. Even as specific regulations around crypto are yet to take shape, companies are setting up baseline user protection processes, including a redressal mechanism, fraud detection, regular filing of suspicious transaction reports (STRs), among others.
'Stay disciplined, and remain invested.' 'Volatile times are the best to invest in structural opportunities at the right price.'
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