Sun Pharmaceuticals Ltd, India’s largest drugmaker, reported a 14% decline in its revenue for the December quarter, led by a 35% fall in revenue from the sales of dosages in the US. Net profit fell 75% to Rs 365 cr from Rs 1,472 cr last year and Rs 912 cr in the preceding quarter. Total […]
Tata Power reported a sharp decline in its pretax profit due to costs rising faster than revenue. For the quarter ended December, the company’s revenue increased by about Rs 326 cr to Rs 7,041 cr compared to last year, but total operating expenses rose faster, by about Rs 580 cr on year. As a result, […]
Google, the maker of the most popular web browser in the world, has decided to crack the whip on intrusive advertisements. Starting Thursday, said the company, all advertisements on websites that repeatedly bombard users with intrusive ads will be blocked by default. Before the blocking goes into effect, the intrusive ads will be ‘flagged’, presumably […]
Club Mahindra, the holiday company owned by Mahindra & Mahindra, said it purchased two non-operating companies that have started ‘villa construction’ business in Sweden. The acquisition of the companies were done at a nominal price of 50,000 Swedish Kronas (Rs 4 lakh) each. The two companies were established recently, in October last year, under Swedish […]
Spectra, formerly known as Spectranet, said it has become India’s largest 1Gbps broadband network after carrying out a free network upgrade for all its customers in Bangalore. “Spectra’s Bengaluru customers have been upgraded to the 1 Gbps speed at no extra cost and with this, it is now the largest 1 Gbps broadband speed network […]
Sun Direct, the DTH platform from Chennai-based Sun TV Network, said it has added 25 new channels, including five HD channels. With this, the total number of HD channels on the platform has risen to 65 and the number of standard definition channels has risen to 237. It is expected to add another 15 HD […]
Pune-based real estate developer Kolte Patil Developers reported a 55% growth in its net profit for the December quarter after strong sales lifted margins compared to last year. However, on a sequential basis, net profit fell to Rs 28 cr from Rs 30 cr due to lower non-sales income. New area bookings in Q3 were […]
In a move that is likely to benefit thermal power producers and coal manufacturers in India, power minister Raj Kumar Singh today said that efforts are being made to move towards ‘time of day’ tariff system to balance the interest of traditional and emerging power sectors. “We must understand that renewables cannot help us meet […]
Pharma major Lupin said it has launched a generic version of Roche’s big-selling flu drug Tamiflu in the US. The drug, known as Oseltamivir Phosphate, had annual tablet sales of approximately USD 518 million in the US, making it one of the biggest generics in the market. The dosages that have been launched are 30 […]
Star India’s digital business, Hotstar, will make content available via Bharti Airtel’s TV app. The companies did not clarify if all content on Hotstar will be available or not. Given that it costs Rs 199 per month to access all content on Hotstar, that is unlikely. This is the second tie-up that Hotstar, part of […]
A consortium of companies, including ONGC, Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd, have taken a 10% stake in Lower Zakum Concession. The “participation fee” paid by the Indian consortium is 2.2 billion UAE dirhams (Rs 3,850 cr). The onshore field is located inside the UAE and is owned by the Abu Dhabi […]
Ortel Communications (Ortel), the Orissa-based cable and broadband services provider, reported a loss of Rs 6.6 cr for the third quarter as its broadband business was hit by 4G providers and cable business was under competitive pressure from DTH services. The loss of 6.6 cr compared with a loss of Rs 1.5 cr last year, […]
The government can heave a sigh of relief as the Goods and Services Tax collection for January have come in slightly stronger than what many expected. The final number for January is Rs 88,929 cr, an increase of 6.3% over Rs 82,716 cr recorded in the previous month. The declines were a matter of concern […]
India’s auto giant Mahindra & Mahindra said it has agreed to sell control of its Japanese speciality steel business to joint venture partner Sanyo Special Steel co for Rs 146.32 cr. Mahindra & Mahindra will sell 22% of the company, in which it used to own a 51% stake, and reduce its share to 29%. […]
Rajyavardhan Rathore, junior minister for information and broadcasting today confirmed that Doordarshan has given permission to eleven companies to manufacture set top boxes with encryption for use on its DTH service DD Free Dish. The statement confirms that the much delayed encryption of the service is on track and will be implemented once the stock […]
Information and Broadcasting minister Smriti Irani today clarified that there was no ‘ban’ on the transmission of condom ads during daytime, and that restrictions have been imposed only on ads that “objectified women”. Irani said she had already clarified the matter in response to a query by the health ministry on whether the ministry’s ads […]
Luxury automaker BMW launched its M3 Sedan and the new BMW M4 Coupé in India at prices of Rs 1.3 cr and Rs 1.33 cr excluding taxes. The prices include GST, but exclude road tax, RTO fees and other local taxes, levies and insurance. “The new BMW M3 Sedan and the new BMW M4 Coupé […]
Pharma major Lupin said it has launched a generic version of Concordia’s ADHD drug Kapway in the US. Kapvay tablets has annual sales of approximately USD 66 million in the US. It was in November last year that Lupin and Ajanta Pharma said they’d both got approval to launch Clonidine Hydrochloride tablets from the US […]
Maruti Suzki today unveiled the most anticipated new car in years, the new Swift, with a promise of 12.7% more mileage and 28% more luggage space than the outgoing version. The petrol version of the new Swift has been priced between Rs 4.99 lakh and Rs 7.29 lakh in Delhi before taxes, while the diesel […]
The government of India is exploring ways to ban the advertising of junk foods and soft drinks on television channels targeted at children, junior minister for information and technology Rajyavardhan Rathore told the parliament today. Rathore said intimations in this regard will be sent to television channels soon, and the idea was to discourage children […]
