In the first quarter (Q1) of the ongoing financial year ending June 30, Westlife Foodworld, which operates McDonald's outlets in the South and West, reported an 88 per cent drop in net profit. While net sales remained flat, its same-store sales growth (SSSG) fell by 6.7 per cent, impacted by "subdued in-store business, although the off-premise segment saw positive same-store sales", the company said.
'If in our cities, all urban bus transport services are free, then the taxpayers are paying for it, or if electricity were to be made free, that's a huge cost to the rest of the people'
'Skirmishes with officials in the Press Information Bureau were an everyday affair as the newspapers sought clearances from the media censors for publishing the next day's editions'
Houses in low lying areas of Kerala were flooded in the heavy rains, while the accompanying strong winds uprooted trees, damaged homes and caused power disruptions, throwing normal way of life into disarray across the state.
What was once a solemn Vedic ritual is today a celebration for the entire extended family. And why not? With families living in distant cities, even continents, weddings are seen as an occasion for cousins and uncles to congregate under one roof for two or three days, observes Ambi Parmeswaran.
India's biggest telecom players, Bharti Airtel and Reliance Industries-backed Jio Platforms, will soon bring billionaire Elon Musk-led SpaceX's Starlink satellite services to India. According to analysts, the move could boost India's tele density, especially in the rural areas, and may be an opportunity for investors to add the two stocks on dips for long-term gains
The Aam Aadmi Party (AAP), led by Arvind Kejriwal, suffered a major setback in the Delhi Assembly elections, losing to the Bharatiya Janata Party (BJP). The loss marks a significant blow to Kejriwal's national ambitions and raises questions about the future of the party. The AAP had been in power in Delhi for the past 10 years and had also formed a government in Punjab. Despite the defeat, the party still holds 13 MPs from Punjab and Delhi. The article examines the factors that contributed to the AAP's defeat, including allegations of corruption, poor civic facilities, and the BJP's relentless attacks. It also explores the impact of the loss on Kejriwal's national aspirations and the party's future.
Bajaj Finance, IndusInd Bank, State Bank of India, Maruti, Tata Motors, ITC, Tata Steel and Reliance Industries were also among the gainers. Nestle, NTPC, Kotak Mahindra Bank, Power Grid and Titan were among the laggards.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
Gross GST collections rose by 9.1 per cent to about Rs 1.84 lakh crore in February, boosted by domestic consumption and indicating potential economic revival. As per the official data released on Saturday, on a gross basis, mop up from Central GST stood at Rs 35,204 crore, State GST at Rs 43,704 crore, Integrated GST at Rs 90,870 crore and compensation cess of Rs 13,868 crore.
The labourers, who are said to be of Nepali origin, were engaged in the construction of a hotel.
'The choice is clear: We either embrace this transformation and cement our global leadership, or hesitate, lose ground, and fade into irrelevance.'
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
Auto parts exports from India may see a slight slowdown as US President Donald Trump's 25 per cent tariff could increase car prices for buyers by 8-25 per cent, thereby affecting demand, experts believe.
The NCB, which recently filed a charge-sheet in the drugs-on-cruise case, gave a clean chit to Aryan Khan.
The metro, it seems, is politics-proof -- even if it comes at a high cost.
Delhi-based Jasmeet Singh Sandhu, an Indian Revenue Service officer, has secured third position in the test.
So far, over 30 people have died across Northeastern states due to heavy rainfalls, floods and landslides, according to media reports.
With November 22, 23 and 24 being among the most auspicious dates for marriage this year, hotels across the country are all booked, as are wedding-related ancillary services.
Experts are of the opinion that though digital services hold the future, the companies are likely to take a hit during the transition period.
'At least 25 Olympic-sized swimming pools worth of plastic chewing gum gets dumped.' 'And because the way people spit it out, there's no possible way this plastic can be recycled.'
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
The Indian government has appointed Finance Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI). Pandey, a 1987-batch IAS officer, will replace Madhabi Puri Buch, whose three-year tenure ends on February 28. Pandey's appointment comes at a time when the markets are experiencing bear pressure due to withdrawals by foreign institutional investors (FIIs). Pandey has extensive experience in the finance ministry, having served as the longest-serving secretary in the Department of Investment and Public Asset Management (DIPAM) and the Department of Public Enterprises (DPE). He also played a key role in the framing of the 2025-26 Budget and the drafting of the new Income Tax Bill. Pandey's appointment is for an initial period of three years.
S&P Global Ratings on Wednesday said the impact of the US reciprocal tariff will be limited on India as the economy is domestically oriented with less reliance on exports. YeeFarn Phua, Director, Sovereigns and International Public Finance Ratings, Asia-Pacific S&P Global also said India will clock a 6.7-6.8 per cent GDP growth over the next two years.
Corporate India's struggle with subdued revenue and earnings growth persisted in the October-December quarter of 2024-25 (Q3FY25). The combined net sales (gross interest earnings for lenders) of listed companies grew in single digits for the seventh consecutive quarter, while their combined net profit rose by a single digit for the third straight quarter.
A patwari, a local revenue department official, was crushed to death by a tractor-trolley used for transporting sand illegally in Shahdol district of Madhya Pradesh, police said on Sunday.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
"Are we not giving a picture that there is no other person and the entire department is full of incompetent people?" a bench headed by Justice B R Gavai told Solicitor General Tushar Mehta.
'As more and more work becomes automated and a range of lower-level and higher-level tasks are replaced by AI, the need for a classic command-and-control pyramid structure goes away.'
The Director General of Police (DGP) of the Karnataka State Police Housing Corporation, Ramachandra Rao, has denied any knowledge of his stepdaughter Ranya Rao's alleged involvement in gold smuggling. Rao expressed deep distress over the incident, saying his reputation has been tarnished irreparably. He emphasised his lifelong dedication to honesty, integrity and discipline, and said his commitment to public service has always been his priority. Rao said he had no knowledge of the situation unfolding in his life and asked for fairness towards himself and his family. The DGP assured that if any laws were violated by Ranya, legal action would be taken.
Apple will source the majority of the iPhone sold in the US from India in the June quarter while China will produce the vast majority of the devices for other markets amid uncertainty over tax tariffs, a top official said on Friday.
A day after his appointment as the 26th governor of the Reserve Bank of India (RBI), outgoing Revenue Secretary Sanjay Malhotra on Tuesday said one must understand the economic landscape and do what was best for the economy. "Let me first go, join, understand the turf ... Here it is a different role," Malhotra said, speaking to reporters in front of North Block.
Kannada actress Ranya Rao's frequent trips to Dubai have come under intense scrutiny following her arrest for allegedly smuggling gold into India.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
When Gensol Engineering made its public market debut through a small and medium enterprises (SME) initial public offering (IPO) in September 2019, its promoters held a commanding 96 per cent stake. Now, that figure has shrunk to a "negligible" fraction.
Global firm Accenture's fourth quarter results prove that the worst is behind for the Indian information technology (IT) sector, said analysts on Friday (September 27). While the pace and the broadness of recovery is debatable, they said Accenture's results and revenue growth guidance for the next financial year (FY25) reduce downside risks for Indian IT companies.
Trump spoke approvingly of his recent telephone conversation with Xi Jinping. This could indicate the possibility of America and China reaching some level of tactical accommodation, which would not be good news for India, points out Ambassador Shyam Saran, a former foreign secretary.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Senior Congress leader Shashi Tharoor on Wednesday urged the party to be a party of hope, not resentment, a party of the future not just of the past, and a party with a positive narrative and not just criticism. He also slammed the BJP for trying to divide North from South, emphasizing the need for inclusivity and national harmony. Tharoor highlighted the importance of economic growth and equitable distribution of its benefits, calling for the Congress to remain the voice of the voiceless.
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