Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
The excise duty cuts on diesel and petrol will cost Rs 45,000 crore and lead to a 0.3 percentage point widening on the Centre's fiscal deficit, a foreign brokerage said on Thursday. Going by the overall consumption, the costs of the surprise move - which came after months of concerns over high payouts at filling stations - for the entire fiscal will come at Rs 1 lakh crore or 0.45 per cent of GDP, economists at Japanese brokerage Nomura said in a report. For the remaining months of the ongoing FY22, the cost will come at Rs 45,000 crore, which leads to an upward review of the fiscal deficit target.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
'Companies are being forced to pay higher salaries to retain and hire employees due to a big rise in attrition in the industry.'
Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. In value terms, these transactions are worth Rs 6.27 lakh crore, registering a growth of 17 per cent from Rs 5.36 lakh crore in February 2022, the governor told reporters while launching the Digital Payments Awareness Week at the RBI headquarters in Mumbai this afternoon. He also said the overall monthly digital payment transactions crossed over Rs 1,000-crore-mark each month during the past three months.
Indigo continued its market leadership ferrying 5.77 million passengers in the month, followed by rival Spicejet with 1.86 million, and Air India carrying 1.55 million passengers. Goair, AirAsia India and Vistara transported 1.33 million, 7.72 lakh and 6.48 lakh passengers, respectively.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Noting the actions and capabilities of the Chinese side, the IAF chief said, "They had brought their J-20 fighter aircraft (to areas close to Eastern Ladakh) and they go off from there but that is the flexibility of airpower. The moment Indian Rafales were brought in, their J-20 was there. We know their actions and capabilities and we are taking the required steps."
Vijay Baghel and Jogi accuse the chief minister of prompting liquor vends across the state.
Shashank Singh played the innings of his life to power Punjab Kings to a famous win.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
India's economy grew by 13.5 per cent in the first quarter of the current fiscal, mainly due to the base effect, official data showed on Wednesday. The gross domestic product (GDP) had expanded by 20.1 per cent in the corresponding April-June period of 2021-22, according to data released by the National Statistical Office (NSO). Many analysts had projected the Indian economy will expand at a double-digit growth rate due to the base effect.
Oil and Natural Gas Corporation on Tuesday crossed the 2 lakh crore (Rs 2 trillion-) -mark in terms of market capitalisation, with its scrip touching a 52-week high of Rs 1,422 at the Bombay Stock Exchange.
The Parliament incurred an electricity bill of Rs 6.25 crore during 2008. The bill of Rashtrapati Bhavan was Rs 6.70 crore, followed by Rs 50.35 lakh spent by the prime minister's residence from January-December 2008. Surprisingly, the electricity bills for Rashtrapati Bhavan and the prime minister's office for the same period was the highest in the last three years.
According to recent official data here is how world leaders' salaries stack up.
Fresh tremors were on Sunday felt in various parts of India, including the national capital Delhi, even as the death toll in Saturday's earthquake climbed to 62.
He said the people of the state took a historic decision in 2003 by removing the government of "Mr Bantadhar", apparently referring to senior Congress leader and former chief minister Digvijaya Singh.
However, the SBI report said it will take almost seven-quarters from Q4 FY21 to reach the pre-pandemic level in nominal terms and there will be a permanent output loss of around 9 per cent of GDP.
The stock has gained over 10 per cent in the last month but it could still have an upside, with valuations between Rs 5,200 and Rs 5,700 from several analysts and strong 'buy' consensus.
The fund generated a lot of interest immediately after Prime Minister Narendra Modi announced its formation of the fund in the last week of March after the COVID-19 outbreak and appealed for donations, prompting several private firms, government bodies and individuals, including celebrities, to donate money.
Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
Equity benchmarks started the first day of trade of the New Year on a positive note and ended with smart gains, propelled by buying in index majors Reliance Industries and ICICI Bank amid a firm trend in European markets. The 30-share BSE Sensex climbed 327.05 points or 0.54 per cent to settle at 61,167.79 on Monday. During the day, it jumped 382.05 points or 0.62 per cent to 61,222.79.
In Phase 6, indications are that the BJP, which is defending 40 seats, will lose in double digits and gain in single digits. Not good, if you are the ruling party scrambling to earn a working majority, with just one phase left to go, argues Prem Panicker.
Net tax receipts in the first half of the fiscal stood at Rs 3.23 lakh crore (Rs 3.23 trillion), or 33.1 per cent of BE, the data released by the Controller General of Accounts today showed.
The prisons department had on Thursday issued an order for the premature release of Amarmani Tripathi, citing the state's 2018 policy on remission, since they have completed 16 years of imprisonment.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
Two equity funds at the opposite ends of the risk matrix - small-cap and arbitrage - bucked the 'low inflow' trend in May this calendar year 2023 (CY23) to receive the highest net inflows in recent years. The Rs 3,280-crore net inflows into small-cap schemes in May was the highest for the category since the mutual fund (MF) industry started releasing fund-wise inflow data in April 2019. Arbitrage schemes raked in a net Rs 6,640 crore - the highest since July 2021.
On average, an account-holder among Punjab farmers availed of crop loans of around Rs 2.23 lakh in the first 11 months of 2016-17.
The convicted have been given sentences between one and five years.
As much as Rs 6,696 crore has been released to the states as GST compensation for the month of March 2018, as on May 29.
State Bank of India's house economists on Monday said the recent farm sector reforms reek of parochial thinking and promote lazy farming as they only cater to cereal-producing states. In the recently concluded monsoon session, the government rushed through three legislation to change the way agricultural produce is marketed, sold and stored by dismantling the decades-old APMC (Agricultural Produce Market Committee) mandis.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Authorities on Saturday continued to dig up currency to the tune of lakhs of rupees, including in new notes, across the country.
According to a report, the Indian healthcare sector will need a total capital investment of Rs 1.62 lakh crore (Rs 1.62 trillion) to provide accessible and affordable healthcare during the 12th Plan period.
Government gets Rs 17.1 lakh crore in its kitty
A private member resolution seeking that the government implement the recommendations of the Sachar Committee report and other reports that have discussed the educational and social backwardness of Muslims and enact a legislation for the prevention of atrocities against minorities was moved in the Rajya Sabha on Friday.
Outward remittances under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) surged by 50.64 per cent to $9.1 billion in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), driven by healthy growth across segments due to a revision in the timeline of tax collected at source under the LRS scheme and normalisation in international travel. Major drivers include equity and debt investments, deposits, and the international travel segment, among others. According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year.
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances