Page 9 - Companies

Poonawalla Fincorp consolidated net profit up at Rs 96 crore in Q3

Interest margins improve, credit costs down; asset growth flat

TTML decides against conversion of interest amount on AGR dues into equity

TTML said it has decided not to opt for conversion of interest related to AGR dues into equity

UK Grocery giant Tesco cuts overnight roles; 1,600 jobs at risk

British supermarket chain Tesco warned Tuesday that more than 1,600 workers are at risk of losing their jobs because of changes to its stores and gas stations. The retail giant said many of the jobs are at risk after it removes overnight shelf-stacking roles at many shops. Three dozen gas stations also will be converted to pay-at-pump only during overnight hours, Tesco said. The company said it was aiming to reassign all affected staff. Tesco said Monday that it was planning to close its discount supermarket arm, Jack's, with seven stores shutting for good and the remaining six becoming Tesco shops. It also announced it was closing meat, fish and deli counters in over 300 stores. Customers' shopping habits have changed since the start of the coronavirus pandemic, Tesco UK and Republic of Ireland chief executive Jason Tarry said. The retailer told shareholders last month that it expected to post record profits of more than 2.6 billion pounds ($3.5 billion) for the current financial

Motorcycle maker Royal Enfield reports 15% drop in wholesales in January

Mid-sized motorcycle maker Royal Enfield, a part of Eicher Motors, reported a 15 per cent decline in total wholesales at 58,838 units in January this year.

Gitanjali Gems case: Sebi bans Mehul Choksi, another individual from mkts

Sebi has barred fugitive businessman Mehul Choksi and one Rakesh Girdharlal Gajera from the capital markets for one year

200 Indian startups to showcase business ideas, innovations at Expo 2020

Dubai Silicon Oasis (DSO) and India Innovation Hub on Monday announced a partnership with Indian online travel company EaseMyTrip and UK-headquartered investment banking company HSBC

Microfinance institution Satin Creditcare posts Q3 net profit at Rs 34 cr

Microfinance institution Satin Creditcare Network Ltd (SCNL) on Monday reported a profit after tax of Rs 34 crore in the quarter ended December. The company had reported a loss of Rs 80 crore in the year-ago period. Its net interest income grew Rs 194 crore in the December quarter as against Rs 164 crore in the same period of the previous fiscal. Disbursements for the quarter declined to Rs 1,348 crore as compared to Rs 1,822 crore in Q3FY21. Microfinance disbursements dipped to Rs 1,224 crore as compared to Rs 1,742 crores in the same quarter of the previous fiscal. Asset under management (AUM) dropped to Rs 7,218 crore as against Rs 7,880 crore. The microlender's Chairman and Managing Director H P Singh said, Considering the current pandemic scare and detection of new Omicron variant, the company has adopted a well-calibrated and cautious approach in disbursing new loans due to which AUM de-grew by 8.4 per cent year-on-year. Its gross non-performing assets (NPAs) stood at 8.61

Gati Shakti national master plan: States to get on board by March-end

The Department for Promotion of Industry and Internal Trade's (DPIIT) logistics division has been holding state-level conferences to explain the project

JSW Steel Independent Director Malay Mukerjee passes away at 74

Steel company JSW Steel announced the passing away of Malay Mukerjee, who was an independent director on its board.

NCLT approves APSEZ's composite scheme to acquire Sarguja Rail Corridor

The company will now consolidate all rail assets under a single business entity Adani Tracks Management Services Pvt Ltd

Saregama India plans to invest up to Rs 750 cr in music business

Saregama India, a part of RP-Sanjiv Goenka Group, is planning to invest up to Rs 750 crore in its music business to achieve a 25-30 per cent revenue growth in the next few years

Embassy REIT to invest Rs 850 crore to develop office space in Bengaluru

Currently, Embassy REIT is developing a total of 4.6 million square feet area, including the new 1.9 million square feet office buildings

Siva Industries bidder Vallal RCK to move SC after NCLAT rejects offer

NCLAT says will send company to liquidation as deadline of 330 days as per IBC Code is breached

Beauty, private labels will take Shoppers Stop margins to double-digits: MD

In a Q&A, Venu Nair, talks about the company's strategy to expand in tier-1 and tier-2 cities

Chennai-based agri-commerce firm WayCool lines up Rs 250 crore ESOP

Scheme to cover all 1,500 employees; firm plans to expand its presence to geographies like Middle East as part of its roadmap to become a unicorn by 2025

Criticism hypocritical, blacklisting by America will be rescinded: NSO

"I absolutely sleep soundly at night," said Shalev Hulio, Chief Executive Officer of NSO Group

Easemy Trip consolidated profit after tax soars by 83.8% in Q3

The company had posted a profit after tax of Rs 22 crore in the same period last fiscal

MRPL third quarter profit rises to Rs 969 crore

The Mangalore Refinery and Petrochemicals Limited (MRPL) posted a net profit of Rs 969 crore during the third quarter of 2021-22 against a loss of Rs 76 crore in the corresponding period in 2020-21.

MapmyIndia declines since listing gains; Q3 net profits, revenue fall YoY

Shares of MapmyIndia haven't been able to keep its strong bull run and have fallen around 15 per cent since its bumper listing on the exchanges.

Looking at new markets to push apparel exports: AEPC chairman

AEPC said it is looking at new markets such as Latin America, Australia and Israel to push the country's exports