The rating agency Icra has predicted a slowdown in domestic steel consumption growth for the next financial year (FY25). This comes after three consecutive years of double-digit growth in the industry. Icra forecasts a growth rate of 7-8 per cent in FY25, compared to an estimated 12-13 per cent in the current year (FY24). The […]
FMCG major Emami reported an 11.88 per cent increase in consolidated profit after tax to Rs 260.65 crore for the December quarter of 2023-24, aided by improved margins due to lower input prices. According to the company’s regulatory filing, the business had a net profit of Rs 232.97 crore in the October-December fiscal year 23. […]
Patanjali Foods on Thursday reported a 19.3 per cent year-on-year (YoY) drop in net profit for the quarter ended December to Rs 217 crore. Revenue from operations fell 0.2 per cent to Rs 7,911 crore. Sequentially, the topline rose just 1.1 per cent, while the bottomline dropped by nearly 15 per cent. The primary food […]
India’s Bajaj Electricals reported its third straight quarterly profit decline on Monday, as rising inflation impacted seasonal spending and rural demand remained weak. Consolidated net profit fell nearly 40 per cent to 373.6 million rupees ($4.5 million) in the three months ending 31 December, after falling 56 per cent and 14 per cent in the previous two quarters. In India, […]
Tata Motors on Sunday stated that it will increase the price of all passenger vehicles, including electric vehicles (EVs), by 0.7 per cent. The price increase will take effect on 1 February 2024 to partially cover hikes in input prices, according to a release. “This increase will be effective February 1, 2024 and is being taken to partially […]
Hyundai Motor India achieved the highest-ever domestic sales in the calendar year 2023, surpassing the six lakh sales milestone. The automaker recorded sales of 6,02,111 units, registering a 9 per cent increase over the previous year’s 5,52,511 units. Additionally, Hyundai Motor India elevated its export performance by 10 per cent, shipping 1,63,675 units in 2023 […]
Cars manufactured by Hyundai Motor India will cost more starting January 2024. The automaker announced on Thursday that the price increase was needed owing to rising input costs, an adverse exchange rate, and an increase in commodity prices, amongst other reasons. However, the automaker maintains it will continue to make consistent internal efforts to minimise […]
Indian automaker Tata Motors said on Monday that it will raise the prices of its commercial vehicles by up to 3 per cent, its third hike this calendar year to offset the residual impact of past input costs. The price hike, effective from 1 October, will be applicable across its range of commercial vehicles, the […]
Engine oil maker Castrol India reported an 11.3 per cent fall in first-quarter profit on Tuesday as rising raw material costs offset the growth in revenue. Profit after tax fell to Rs 203 crore for the three months ended 31 March from 2.28 billion rupees a year earlier. Revenue from operations increased 4.7 per cent […]
