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By Narayana KrishnaTitan Co. Ltd. Thursday reported a net profit of INR 10.30 billion for the June quarter, up nearly 34% on year and over 18% on quarter. The company's revenue from operations for the quarter was up over 20% on year and 8% sequentially at INR 145.64 billion. Titan's results were well ahead of analysts' estimates for both net profit and revenue. Analysts had estimated Titan's net profit for the quarter at INR 9.20 billion and revenue at INR 143.50 billion. Register to read more
By Pallavi Singhal Despite an 8% on-year underlying volume growth and a 10% growth in its net sales in the June quarter, Godrej Consumer Products Ltd.'s net profit fell short of Street estimates due to a steep rise in the cost of raw materials consumed, including packing material. The company's expenditure on raw materials rose sharply by 15% on year, the profit and loss statement showed. Read more
The Securities and Exchange Board of India Thursday said stock exchanges, clearing corporations, and depositories will jointly carry out the annual inspections of selected members across all segments in which the members operate, with effect from Dec. 1. Read more
The lenders of debt-ridden Bhushan Power & Steel Ltd. said in the Supreme Court Thursday that they should be paid interest by the successful resolution applicant JSW Steel Ltd. for the period of delay in implementation of the resolution plan. Further, the lenders argued that earnings before interest, taxes, depreciation, and amortisation generated during the insolvency process of Bhushan Power must flow to the creditors. Read more
The Securities and Exchange Board of India Thursday floated a consultation paper seeking views on proposals related to amendments to the regulatory framework for investment advisers and research analysts with the objective of facilitating ease of doing business and addressing practical challenges in the current framework. This consultation paper aims to bring in regulatory changes commensurate with the continually evolving nature of the investment adviser and research analyst industry, the SEBI said. Read more
By Anshul Choudhary and Taniva Singha The increase in contract sizes, investors shifting to non-expiry days, and higher premiums owing to volatility in the market helped BSE Ltd. report higher income from transaction charges for the June quarter, while keeping its costs in check. The company saw higher premiums during Apr-Jun due to market volatility induced by US tariff uncertainty, said Sundararaman Ramamurthy, managing director and chief executive officer of BSE, in a conference call with analysts post the company's June quarter earnings Thursday. Register to read more
Titan Co. Ltd. reported a net profit of INR 10.30 billion for the June quarter, higher than INR 7.70 billion profit posted a year ago. It also managed to beat Street estimates for net profit. The company's revenue from operation in Apr-Jun rose to INR 145.64 billion from INR 120.53 billion in the year-ago period. Read more
By Rajesh GajraThe on-year growth in volume, revenue, and operating profit of Grasim Industries Ltd. in the June quarter will likely be pulled in different directions by the varying performance of its three main operating segments–chemicals, cellulosic fibre, and paints. The company's standalone top line may record a double-digit rise on a year-on-year basis on the back of higher revenue in its paints business and mid-single-digit growth in its chemicals segment. Read more
Automobile retail sales in the country in July fell to a five-month low owing to weakness in two-wheelers, passenger vehicles, and commercial vehicles even as tractors continued to shine, data from the Federation Of Automobile Dealers Associations showed Thursday. Read more
The Supreme Court Thursday dismissed Allahabad High Court Justice Yashwant Varma's petition against an in-house committee report that indicted him following recovery of a huge amount of cash at his residence during a fire incident in March. Further, the top court upheld former chief justice of India Sanjiv Khanna's recommendation to President Droupadi Murmu to initiate proceedings against Justice Varma for his removal as a judge. Read more
