Bharti Airtel CEO Gopal Vittal said he believes the worst is over as far as the company’s revenue decline is concerned. During the last three months of 2017, Airtel saw the highest ever decline in both its India mobile revenue as well as per-user revenue as it struggled to compete with new entrant Reliance Jio. […]
Bharti Airtel CEO Gopal Vittal today said that the current levels of pricing in the Indian telecom market was ‘clearly unsustainable’ and will have to be raised. “These levels of pricing are clearly unsustainable, therefore pricing will have to be lifted,” he said, discussing Airtel’s third quarter results. “But there’s a fight for market share […]
NIT Technologies said third-quarter revenue increased 2.6% sequentially to Rs 756.5 Crores, an increase of 9% on year. Operating Margins expanded 97 bps sequentially to 17.1% as a result of growth in Digital engagements in US and EMEA. Operating profits expanded 8.7% on quarter and 11.4% on year to Rs 129.5 Crores. Net profit improved […]
Pharma company Lupin said it has launched a generic version of Pfizer Inc.’s antibiotic Vibra-Tab. The drug has annual sales of around $144 million in the US, the Indian company said. The AB-rated generic was approved by the United States Food and Drug Administration (FDA) earlier. Doxycycline Hyclate Tablets 100 mg is indicated for the […]
Bharti Airtel reported a decline in its third quarter revenue as the battle with Reliance Jio raged on and the impact of lower termination charges kicked in, but the company prevented any massive damage to its bottom line. Airtel’s top line shrunk by 6.7% on quarter and 13% on year to Rs 20,319 cr for […]
Diversified group Adani Enterprises reported revenue of Rs 9,938 crores for the Oct-Dec quarter compared to Rs 8,606 crores for the same quarter last year. Due to the higher revenue, operating profit (EBIDTA) jumped to Rs 1,048 crores from Rs 705 crores last year. Net profit inched up to Rs 351 crores from Rs 340 […]
North Indian newspaper publisher DB Corp reported disappointing results for the third quarter as its key revenue sources, advertising, saw a abnormal decline during the quarter. Revenue from print advertisements declined by 5.8% despite the comparison being with a quarter that was ravaged by demonetization. Print advertising revenue fell to Rs 378 cr from 401 […]
The Supreme Court has lifted the bans imposed by certain state governments like Gujarat and Haryana on the movie Padmavat and said the movie will screen across India next week. The movie is set to release on Jan 25. The court said it was the responsibility of the state governments to keep law and order, […]
Panacea Biotec said it signed two long-term agreements with the world’s largest vaccine manufacturer, Serum Institute of India Pvt. Ltd, for manufacturing polio vaccines with a potential market size of $1.25 bln per year. The vaccine will also protect against six other diseases — Diphtheria, Tetanus, Pertussis, Hepatitis B, Haemophilus influenza type B & Polio. […]
Engineering services provider L&T Technology Services said it won a $50 million (Rs 320 cr) contract to provide engineering and R&D services to “leading aerospace electronic systems manufacturer” for five years. The company, a listed subsidiary of Larsen & Toubro, did not name the client. It said the project will result in transformation of the […]
Hindustan Unilever, the country’s largest fast-moving consumer goods maker, reported a 17% increase in its like-to-like top line and an 11% growth in sales volumes for the October December period when compared to the previous year. The previous year’s sales were disrupted by demonetization. The total revenue, including tax, generated by the company rose to […]
Zee Entertainment Enterprises, the country’s largest listed media company, reported a whopping 30% jump in advertising sales in India as the comparison period of last year was hit by demonetization. Domestic advertising revenue was at Rs 11,373 mn (Rs 1,137 cr) on a like to like basis, excluding the sports business that was sold to […]
Bharat Heavy Electricals Limited (BHEL) said it won a Rs 2,800 cr order from Maharashtra State Power Generation Company (MAHAGENCO) to set up a 660MW coal-based thermal power project in Bhusawal Thermal Power Station in Maharashtra. It will be set up as an expansion project (Unit 6) of the existing power station. The 1,420 MW […]
Real estate developer Puravankara Ltd said it has started taking ‘expressions of interest’ from buyers for its upcoming ‘affordable’ housing project at Judicial Layout, Kanakapura Road, Bangalore. Provident Park Square is being taken to market through a quasi-book building method. Under this, price bands are announced for each type of property and interested buyers can […]
Bharat Forge, India’s largest exporter of auto components, said it opened a research and development facility at MIRA Technology Park in the UK to design powertrain solutions for Electric Vehicles. The powertrain refers to components such as the transmission that converts the engine’s power into movement. So far, much of the research on EVs were […]
Ashok Leyland, the auto arm of the Hinduja Group said it signed a Letter of Intent (LoI) with Phinergy, an Israel-based company that is developing Aluminium Air batteries for long-range vehicles. Unlike lithium ion batteries, which need to be recharged after 200-500 km, a vehicle that uses aluminum air battery can run for several thousand […]
Gravita India Limited, one of India’s biggest recycling companies, said it won a Rs 250 cr order from inverter manufacturer Luminous Power Technologies, a unit of Europe-based Schneider Electric. The order will be executed during 2018, the company said. “It will help the company to strengthen its top line and bottom line in coming FY […]
Ipca Laboratories Ltd said it is has acquired US-based drug manufacturer Pisgah Labs Inc. for US$ 9.65 millions free of debt. The acquisition is aimed at establishing the company’s foothold in the US market in the field of contract research and small-volume manufacturing of active pharmaceutical intermediaries. Pisgah Labs Inc., North Carolina, USA was originally […]
Reliance Industries’ controlled TV18 reported better results than in recent quarters, and said advertising revenue is showing signs of recovery. The company reported a 8% growth in the top line for Oct-Dec quarter to Rs 271 cr, while profit before tax remained flat at Rs 16 cr. Profit from joint ventures jumped to Rs 19 […]
Going by indications from the Unique ID Authority of India, Aadhaar numbers could soon be linked to people’s images, allowing the government and corporations to identify people from their photographs and videos. “UIDAI introduces yet another landmark technology for authentication – Face Authentication,” tweeted @ceo_uidai, the official handle of the CEO of UID Authority of […]
