Future Retail, the country’s largest brick-and-mortal retailer with over 1,100 stores, reported an overall improvement in its profits margins in the Apr-June quarter. The improvement was largely the result of a slight dip in operating expenses, even as sales fell as the company shut unprofitable outlets. Excluding such stores, sales improved 7.1% on year. Net […]
Ramco Systems, one of India’s top cloud software vendors, said it won yet another client from Philippines for its logistics management offering. It said AP Cargo Logistic Network Corp will implement Ramco Svstems’ Logistics Software to manage its freight operations nationwide. The deal includes Finance and human resource management modules as well, besides transport management, hub management; warehouse management, […]
PVR Cinemas said it has opened its 137th multiplex at Phoenix United Mall in Bareilly, Uttar Pradesh. With this, said India’s largest cinema exhibitor, it now has 13 multiplexes in Uttar Pradesh. The company has also increased the total multiplexes in North India to 49. The latest property will have four screens, taking the total screens […]
The latest health bulletin from Kauvery Hospital in Chennai at 6:30 PM today has said that there has been a further deterioration in Tamil politician Karunanidhi’s health. “There has been a decline in the medical condition of Kalaignar Dr M Karunanidhi, DMK President and former Chief Minister of Tamil Nadu,” read the bulletin signed by […]
Assocham, one of India’s prominent associations of industries, has expressed concern at the government’s proposal to put in place a mechanism to block apps like Facebook, WhatsApp and Telegram. The government has, in a confidential letter sent to internet service providers, asked them to suggest ways in which such apps can be blocked at India’s […]
Alembic Pharmaceuticals said it received tentative approval from the US Food & Drug Administration for launching a therapeutic equivalent of Latisse ophthalmic solution. Allergan Bimatoprost solution is used to treat loss of hair, or hypotrichosis, of the eyelashes. The solution, with an estimated US market size of $63 million, increases the length, thickness and darkness […]
Bhima Jewellers, one of the biggest gold retailing firms in Kerala, seems to have pulled its advertisements from Mathrubhumi due to ‘controversies’ over the printing of a novel by the publication group. “We give importance to public sentiments and wish to stay away from controversies of any kind. We have noted your concerns and have […]
The mysterious addition of the former hotline of UID Authority of India, which spooked out Android users by mysteriously appearing on their phones, was hardcoded into the Android set-up program, Google has said. Responding to concerns of users’ phones being hacked by some secret agency, which then ‘loaded’ UIDAI’s helpline number, a Google spokesperson apologized […]
Jet Airways, one of India’s oldest private airlines, denied reports that it is on the verge of a shutdown, but admitted it had initiated talks with employees in an effort to cut costs in the face of adverse market conditions. Reuters reported that the company had urged pilots to take a 15% pay cut to […]
Bharti Airtel said it has deployed an extra block of spectrum to its 4G service in Uttar Pradesh East circle, improving the carrying capacity of the network. “The addition of fresh 5 MHz spectrum will significantly boost Airtel’s mobile network capacity across UP (East) and enable a superior 4G data and voice experience for customers […]
The central government has denied that it has promised to set up an AIIMS (All India Institute of Medical Sciences) in Kerala, the country’s most lucrative medical market. Asked whether the Government in 2015 had promised to set up an All India Institute of Medical Sciences (AIIMS) in the State of Kerala, union minister for […]
Reliance Jio and State Bank of India today announced further deepening of their financial relationship, including deeper penetration of SBI services into Jio’s customer care app MyJio. “MyJio, one of India’s largest over-the-top (OTT) mobile applications will now bring in financial services capabilities of SBI and Jio Payments Bank,” the telecom operator said. In return, […]
The Supreme Court has refused to stay the sale of ‘Meesa’ (The Moustache), a Malayalam novel that has been in the news for offending certain organisations in Kerala, pending further deliberations. Hearing a public interest litigation filed by Delhi-based Malayali N Radhakrishnan, a bench headed by Chief Justice Dipak Misra asked for a translation of […]
Godrej Properties, among the few large and healthy real estate companies remaining in India, reported a disappointing set of numbers for the first quarter. The company said booking value, or the value of properties booked by customers in the three months, fell to Rs 820 crore from Rs 1,474 crore a year ago. Similarly, booking […]
Samsung overtook Chinese challenger Xiaomi to retake the crown of India’s top smartphone brand in April-June period, according to market tracker CMR, even as Reliance Retail emerged as India’s biggest smartphone maker. A week ago, Counterpoint Research too had come to the same conclusion. Xiaomi had ended Samsung’s decade-long reign at the top of Indian […]
Government of India’s NALCO, or National Aluminium Company, said its primary Aluminium smelter plant at Angul in Orissa is facing a ‘crisis’ due to the the shortage of coal to produce power. Smelting of alumina into aluminium is one of the most power-hungry processes in industrial production. To supply power to the unit, NALCO had […]
Mahindra & Mahindra’s passenger vehicle sales continued to be impacted by the success of Vitara Brezza and other SUV models from its biggest rival Maruti Suzuki. For the July quarter, total utility vehicle sales at Mahindra & Mahindra fell by 7% compared to a year ago to 17,879, even as sales of cars and vans continued […]
Outgoing Idea Cellular CEO Himanshu Kapania admitted today that his company understimated the impact that unlimited plans would have on the company’s finances. Reacting to concerns about Idea Cellular’s failure to keep up with the revenue growth of Bharti Airtel and Reliance Jio in the last six months, Kapania identified two factors for the slowdown […]
Idea Cellular CEO Himanshu Kapania said his company has placed the order for radio equipment that will increase the company’s 4G capacity significantly in eight crucial circles as part of a massive network upgrade process for Vodafone Idea. “We have placed the order for TDD in both 2300 and 2500 MHz in eight circles… A large […]
Nature-based consumer products maker Dabur India reported 24.6% growth in net profit for the first quarter, riding the trend of rising sales. However, the company, which faces tough competition from Patanjali Ayurved, reported a dip in profits when compared with the preceding quarter. The primary reason for the sequential decline was a sharp increase in […]
