For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
Rangnekar was BCCI's first-ever CFO and remained under the scanner during three years in his job.
Adani Ports and JSW Infrastructure, India's leading private port operators, are expanding their logistics services to capture extra cargo while they run integrated transport services. "With incrementally less availability of lucrative port assets that can drive cargo volumes, port operators have naturally shifted their focus on deriving value in the upstream integration, i.e., the logistics space.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
Hero MotoCorp on Tuesday posted 24 per cent increase in consolidated profit after tax at Rs 1,169 crore for the fourth quarter ended March 31, 2025 riding on higher margins backed by better product mix, parts revenue and cost effectiveness. The company had reported a consolidated profit after tax (PAT) of Rs 943 crore in January-March FY24.
Housing demand should improve nationwide after the Reserve Bank of India (RBI) cut the repo rate by a larger-than-expected 50 basis points (bps) on Friday, said real estate industry executives. The rate cut comes after housing sales in top Indian cities in the first quarter of 2025 dipped 28 per cent due to skyrocketing residential property prices and geopolitical headwinds, according to Anarock.
'Every delay directly increases the cost burden on developers. Land holding charges, financing costs, and compliance expenses escalate as approvals drag on.'
Quick commerce company Zepto has completed a reverse flip from Singapore to India to become an Indian parent's entity ahead of its proposed IPO. Its co-founder and CEO Aadit Palicha, in a post on LinkedIn, described it as a historic milestone for the Indian startup ecosystem and an inflection point that represents long-term confidence in the liquidity and depth of Indian capital markets.
The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.
Hero MotoCorp is expecting its electric vehicle (EV) business to break even once it reaches monthly sales volumes of 25,000 to 30,000 units, which is a couple of years away, Chief Financial Officer (CFO) Vivek Anand said on Tuesday. "This year, in 2024-25 (FY25), if I really look at my EV performance, our volumes have grown by 200 per cent," Anand told analysts during the company's post-results conference call.
Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance section.
IndusInd Bank MD and CEO Sumant Kathpalia on Tuesday resigned with immediate effect, taking moral responsibility of accounting lapses in the derivatives portfolio, having financial implication of Rs 1,960 crore to the bank.
Nilanjan Roy spent 13 years with Bharti Airtel, prior to which he worked for 15 years with Unilever across their global operations.
The CFO will formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
Adani Enterprises Ltd (AEL) reported an over sevenfold year-on-year (Y-o-Y) rise in its consolidated net profit, attributable to the owners of the company, for the January-March quarter of 2024-25 (Q4FY25) due to an exceptional item gain. The conglomerate's net profit was recorded at Rs 3,844.91 crore, up from Rs 450.58 crore a year ago.
The Enforcement Directorate (ED) on Thursday said it has arrested Karvy Stock Broking Limited (KSBL) CMD C Parthasarathy and group CFO G Krishna Hari in connection with a money laundering investigation linked to alleged diversion of clients' securities of over Rs 2,873 crore. The agency produced the two-- already lodged in central jail, Bengaluru after being arrested by the police-- before a special Prevention of Money Laundering Act (PMLA) court in Hyderabad on January 20 and on January 25 it remanded them to four days of ED custody from January 27-30, it said in a statement. The ED case, filed under the criminal provisions of the PMLA, is based on multiple Telangana Police FIRs filed by the HDFC Bank, few other banks and investors alleging clients' securities were illegally diverted by Karvy Stock Broking Ltd and these were later pledged with banks and non banking financial companies (NBFCs) for loans which were later "defaulted".
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Affordable CFO services for firms that lack resources.
Adani Group's portfolio companies posted their highest-ever pre-tax profit (EBITDA) of about Rs 90,000 crore in the fiscal year ended March 31 and had a cash balance to cover 21 months of debt servicing, the ports-to-energy conglomerate said on Thursday. The Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) has more than tripled in six years - from Rs 24,870 crore in 2018-19 to Rs 89,806 crore in 2024-25 (April 2024 to March 2025).
Information Technology (IT) major Infosys escalated the legal tussle with Cognizant by filing a countersuit in a US court, accusing the Nasdaq-listed firm and its Chief Executive Officer (CEO) Ravi Kumar of anticompetitive practices by maintaining its monopoly. Infosys has also alleged that Kumar misused sensitive information that slowed the launch of the company's health care platform Helix.
India's second-largest IT company Infosys on Thursday reported an 11.7 per cent decline in consolidated net profit to Rs 7,033 crore for the March quarter. It had posted a profit (attributable to owners of the company) of Rs 7,969 crore in the year-ago period.
Gensol Engineering, the beleaguered firm that came under market regulator Sebi's lens for fund diversions and governance lapses, said that its independent director Arun Menon has resigned with immediate effect.
Twitter Inc named Anthony Noto as CFO, putting the well-regarded former Goldman Sachs executive who led its successful November IPO in charge of finances.
GM will join a very short list of S&P 500 companies, including Hershey Co and American Water Works Co, with women serving as CEO and CFO.
Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to invest Rs 75,000 crore ($9 billion) each into its new energy business and petrochemical expansion, according to a company presentation. In its FY25 result statement, Ambani said the company has laid a strong foundation for its projects in renewable energy and battery operations. "In the coming quarters, we will see the transition of this business from incubation to operationalisation.
On his personal Google+ page, the 52-year old announced his plans.
The chief financial officer's responsibility has become more complex. He no longer just crunches number but also leads the company on various fronts.
P Sampath, the current CFO, moves to a new role as the President of Business Optimisation and Improvement for Essar Energy plc, the company said in a press statement.
Murthy has served as Mphasis' CFO since July 2009 and will continue in his role till June 3, 2014, the company said in a statement.
'Binary fission will happen -- startups will lead to more startups.'
Apollo Hospitals Enterprise is set to expand presence in metro cities during FY26 with the addition of five hospitals that would add over 1,400 beds.
Bharti Walmart will also go slow on planned rollouts of its cash-and-carry stores in the country until this investigation into violations of the US Foreign Corruption Practice Act reaches a conclusion.
'We don't know which bus is coming next. I know for sure whatever bus comes next, it will miss that too.'
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
IT services major Infosys on Thursday reported 11.46 per cent increase in consolidated net profit at Rs 6,806 crore for December quarter FY25 and raised its guidance on the back of growth in financial services and manufacturing. The company had logged a profit of Rs 6,106 crore in the corresponding period of the previous fiscal.
Fintech firm BharatPe is targeting an initial public offering (IPO) in the next 18-24 months with the company expecting profitability at an earnings before interest, taxes, depreciation and ammotisation (Ebitda) level for FY25, chief executive officer (CEO) Nalin Negi said.
The fee of Rs 6 lakh consists Rs 1.5 lakh in respect of each application for each alleged offence by the company and Rs 25,000 by each of the current and former key managerial personnel for each alleged offence.
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
Billionaire Gautam Adani's younger son Jeet on Friday married fiance Diva Shah at a small and intimate, traditional ceremony with a close group of friends and family in attendance.
Despite summons, Republic TV's chief financial officer (CFO) did not appear before the Mumbai police on Saturday to record his statement in connection with the TRP manipulation racket, saying the channel has approached the Supreme Court in the case, a senior official said.
Satyam Computer, which has been acquired by Tech Mahindra and rebranded as Mahindra Satyam, is likely to get a new chief financial officer (CFO) by the first week of July.
