Telecom operator Bharti Airtel on Thursday posted a net profit of Rs 1,612 crore for the first quarter ended June 2023, which is nearly flat over earnings in the same period of the previous year. The revenue for the just-ended quarter was 14 per cent higher at Rs 37,440 crore compared to the year-ago period "backed by strong and consistent performance delivery across the portfolio", the company said.
Bharti Airtel has quietly narrowed its adjusted gross revenue (AGR) market share gap with Reliance Jio, the country's largest player in the game, in the last three years. Despite Jio's aggressive entry into 4G and now into 5G, Airtel's gap with Jio, which was 6.4 percentage points in Q1 of FY21 and went up to 7.2 percentage points in Q1 of FY22, has fallen to only 4.4 percentage points in Q1 of FY24. Currently, Reliance Jio's AGR market share is 41.6 per cent while Airtel's is at 37.2 per cent.
Finance Minister Nirmala Sitharaman on Thursday said Pradhanmantri Suryodaya Yojana will enable one crore families to get up to 300 units of free electricity monthly and help them save up to Rs 18,000 annually. "There is provision of Rs 10,000 crore for rooftop solar (scheme) in the Budget," said finance secretary T V Somanathan in press conference on Budget later in the day. Earlier in the day Sitharaman in her interim Budget speech said through rooftop solarisation, one crore households will be enabled to obtain up to 300 units of free electricity each month.
India is expected to ramp up its purchase of crude oil from the United Arab Emirates (UAE) in the coming months following discussions between the two countries on the sidelines of the ongoing COP28 summit in Dubai, multiple sources in the know said. The UAE has historically been India's third-largest source of crude. It has suffered the largest drop in shipments since Indian refiners began to binge on Russian crude in 2022.
UltraTech Cement's third quarter of financial year 2023-24 (Q3FY24) performance saw a combination of 6 per cent year-on-year (Y-o-Y) volume growth and 8 per cent revenue growth coupled with better realisations per tonne. The earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at Rs 3,250 crore and Ebitda per tonne was Rs 1,191. Profit after tax (PAT) was reported at Rs 1,780 crore. Other income dipped and interest costs rose.
The creditors of the grounded carrier Jet Airways on Wednesday raised questions over the source of Rs 200 crore deposited by the Jalan-Kalrock Consortium before the insolvency appellate tribunal NCLAT and said it does not align with the resolution plan. Additional Solicitor General N Venkataraman, representing lenders including SBI and other banks, told the National Company Law Appellate Tribunal (NCLAT) that there are apprehensions about the source of funds, which deposited money for Jalan-Kalrock Consortium's (JKC). "The payment is not compliant with the resolution plan as it mandates that the money is to be paid through JKC," ASG submitted before a three-member NCLAT bench headed by chairperson Justice Ashok Bhushan.
Bumrah, Shami to be rotated during home Tests vs England
From the landing of Chandrayaan 3 to the bombardment of Palestine by Israel, a look at some events that shaped the world in the second half of 2023.
Get a new QR code from an alternative provider. PhonePe, Google Pay, Pine Labs, etc are some of the other service providers.
Australian captain Pat Cummins couldn't believe his ears when he found a near 100,000 people at Narendra Modi Stadium go pin-drop silence after Virat Kohli's dismissal giving the vibe of a "quiet library" during the World Cup final against India.
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
Arguably among the best in his trade across cricketing generations, star India speedster Jasprit Bumrah celebrated his 30th birthday on Wednesday.
The government has exempted units of investment trusts and ETFs issued by entities based in GIFT City or traded in exchanges there from capital gains tax. The Central Board of Direct Taxes (CBDT) notified the exemption from capital gains tax any unit of investment trust; a unit of a scheme; and a unit of an Exchange Traded Fund (ETF) launched under the International Financial Services Centres Authority (Fund Management) Regulations, 2022. Gujarat International Finance Tec-City (GIFT)-IFSC is being promoted as a tax-neutral enclave for the financial sector.
In 2024 so far, 20 startups have already visited the campus with 80 placements.
ITC highlighted that legal cigarettes account for 9 per cent of tobacco consumption in India, but 80 per cent of tax collection is from tobacco products. While illicit cigarettes account for roughly one-third of the market share, legal cigarette volumes have recovered to around 96 per cent of peak FY13 volumes, after dipping to 70 per cent in FY21.
Aviation watchdog DGCA has taken off SpiceJet from its enhanced surveillance regime, a senior official said on Tuesday. The airline, which has been facing multiple headwinds, was placed under enhanced surveillance recently. The senior DGCA official said that in view of the observations made in the past concerning inadequate maintenance and in view of the incidents during the monsoon season last year, SpiceJet was placed under enhanced surveillance.
'My protest was in the interest of the nation.' 'I am just doing my duty as a citizen of this country.'
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
The Supreme Court on Tuesday reserved its verdict on a batch of pleas challenging the abrogation of Article 370 of the Constitution which bestowed special status on the erstwhile state of Jammu and Kashmir.
Market regulator Sebi on Monday moved the Supreme Court seeking 15 more days to conclude the ongoing probe into the allegations of stock price manipulation by the Adani group. The Securities and Exchange Board of India (Sebi), in its fresh application, said that it has examined and investigated 24 matters pertaining to the case. "Out of the said 24 investigations/examinations, 17 are final and complete and approved by the Competent Authority in accordance with Sebi's extant practice and procedures," the regulator said.
Reliance Industries (RIL) has reset its battery pack production timeline, shifting it from 2023 earlier to 2024, details shared in the oil-to-telecom conglomerate's latest annual report suggest. In the FY23 annual report released on Sunday, the company has listed the start of battery pack production in 2024. A year ago, at the company's annual general meeting (AGM), Mukesh Ambani, chairman and managing director of RIL, had said, "We aim to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell-to-pack manufacturing facility by 2024."
Prime Minister Narendra Modi and Australian Deputy PM Richard Marles will be among the key personalities who are expected to attend the ICC Cricket World Cup grand finale
The IPL teams are expected to splurge on players like Pat Cummins, Harry Brook and Mitchell Starc.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
To understand Modi, listen to what he does not say -- vide NRC, suggests Prem Panicker.
It was an optional session at the Supersport Park but for India skipper Rohit Sharma, skipping the nets wasn't an option.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
Reuters's Indian Photojournalists Adnan Abidi, Amit Dave, Danish Siddiqui and Sanna Irshad Mattoo were awarded the Pulitzer Prize for Feature Photography at Columbia University in Manhattan, October 20, 2022.
Two persons were arrested in Surat in Gujarat for allegedly forging documents like Aadhaar and PAN cards as well as voter IDs using a website, in the process posing a serious threat to national security, a police official said on Monday.
A bench of Justices KM Joseph and BV Nagarathna said the earlier regime of four percent quota to Muslims will continue to hold field till May 9, when the matter will be heard next, without any prejudice to the contentions to be raised by the state government.
Kandula, 23, was struck by a police vehicle driven by Officer Kevin Dave when she was crossing a street in Seattle on January 23.
Women in Surat have come out with a unique way to welcome Prime Minister Narendra Damodardas Modi on his visit to the city for Navratri.
India face a replay of their 2019 World Cup semi-final against New Zealand, while South Africa are set for a tough Australian challenge as the semi-final line-ups was confirmed on Saturday.
A bench of Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala was told by solicitor general Tushar Mehta that he had some discussion with the governor on the issue and would make a statement on the next date of hearing.
The Biden administration has assured the Indian government of a quick investigation into the incident and bring to justice the police officers who were responsible for it.
The ICC is unlikely to take any action on Pakistan Cricket Board's complaint for alleged boorish crowd behaviour during their World Cup game against India in Ahmedabad on October 14,
Two-wheeler exports from India have decreased by 20 per cent year-on-year (Y-o-Y) to 1.69 million units in the first half (H1) of 2023-24 (FY24) due to a challenging geopolitical situation and foreign exchange (forex) crises in key markets such as South Asia, industry body Society of Indian Automobile Manufacturers (Siam) said on Monday. On the other hand, passenger vehicle (PV) exports in H1FY24 increased by 5 per cent to 336,754 units because the key markets are much more diversified worldwide, Vinod Aggarwal, president, Siam, told reporters during a press conference. The Russia-Ukraine war, which started in February 2022, has brought significant instability to global fuel prices.
A bench of Justices KM Joseph and BV Nagarathna said from the records tabled before the court it appears that the Karnataka government's decision is based on "absolutely fallacious assumption".
Well aware that he has not been "everyone's cup of tea", the enigmatic David Warner says he would have toned down a bit if he were to start all over again.
India's highest wicket-taker in Tests Anil Kumble praised Ravichandran Ashwin's massive effort, the best for any Indian in West Indies.
