Business

[ad_1] NEW DELHI: Bharti Airtel's about Rs 41,000-crore of adjusted gross revenue (AGR) dues will not be converted into equity automatically as the telco's application for such conversion will go through a scrutiny at the Department of Telecom (DoT), an official source said on Friday.Bharti Airtel has sought conversion of its AGR dues of around Rs 41,000 crore, including interest liability, into equity in line with the relief given to Vodafone Idea by govt. "The application does not mean that it will be processed automatically. It needs to be evaluated and scrutinised before any final decision is made," the source said. An e-mail seeking comments from Bharti Airtel elicited no reply. [ad_2] Source link

[ad_1] HYDERABAD: India's mid-market GCCs (global capability centres) are experiencing a surge, outshining their peers by unlocking new opportunities. This growth is creating a flywheel effect, allowing them to leverage a diverse talent pool. India has over 480 mid-market GCCs, with 2.1 lakh employees, as shown in a Nasscom-Zinnov report. Mid-market GCCs are capability centres set up by mid-sized firms with annual revenue ranging from $100 million to $1 billion. They represent 27% of all GCCs and 22% of total units in the country. In the last five years, more than 110 new facilities were set up, representing approximately 35% of all new GCC units in India within this period.About 60% of end-to-end platform ownership in enterprise portfolios is driven from India by mid-market GCCs. Significant work is being done across AI/ML, cybersecurity, cloud, and data science. India hosts 47% […]

[ad_1] NEW DELHI: Gross direct tax collections rose 15.6% to top Rs 27 lakh crore during the last fiscal year, while refunds went up 26% to an all-time high of a little under Rs 4.8 lakh crore, provisional data released by the finance ministry showed.The provisional net direct tax collection, which was up 13.6% to just under Rs 22.3 lakh crore, was in line with the target set for the 2024-25 financial year. The provisional net direct tax collections are 100.8% of the budget target and 99.5% of the revised estimate presented in Feb.The tax numbers, both direct and indirect, as well as the savings expected on the expenditure front during the last financial year, indicate that govt may end up closing the year with a better-than-budgeted fiscal deficit. The revised estimates presented by Union finance minister Nirmala Sitharaman pegged […]

[ad_1] BENGALURU: The $500 million Infosys Innovation Fund invested in Bengaluru-based VC fund Yali Capital to expand its reach in India’s burgeoning deep tech ecosystem to cocreate solutions for its customers. "Our objective is to bring the power of the Infosys ecosystem and the innovation ecosystem together; to drive insights that feed into our strategic direction, to seek ideas to invest in deep tech startups, to co-create solutions for our clients by partnering with start-ups, and in the process elevate the innovation quotient," Infosys said in an internal note.Last year, Yali launched an Rs 810 crore India-focused deep tech fund, including a Rs 310 crore greenshoe option. The fund is co-founded by Ganapathy Subramaniam, former CEO of Cosmic Circuits, and Mathew Cyriac, chairman of Florintree. Yali Capital is a SEBI-approved Category 2 AIF investing in areas such as chip design, […]

[ad_1] Hindustan Zinc Ltd (HZL), a Vedanta group firm, reported a sharp 47.3% rise in its consolidated net profit for the March 2025 quarter, reaching Rs 3,003 crore, driven by higher income and steady operational performance.This marks the company’s best-ever fourth-quarter profit, up from Rs 2,038 crore in the same period last year.The company's income for the January-March quarter rose to Rs 9,314 crore, compared to Rs 7,822 crore in the year-ago period, HZL said in a stock exchange filing on Friday.The company said in a statement that it was its "best-ever fourth quarter profit after tax of Rs 3,003 crore, up 47 per cent Y-o-Y".Arun Misra, chief executive officer of HZL, attributed the strong performance to the company's efficient operations and strategic focus. “As the world's largest integrated zinc producer, we aim to meet rising domestic demand while maintaining […]

[ad_1] Nomura sees a stronger Indian rupee by December 2025 on the back of a weaker dollar index and strong inflows. According to Nomura, Indian Rupee will grow stronger against the US Dollar by the end of this year, owing to the current uncertainties in the global economy. Nomura is expecting the Indian Rupee to be around 84 against each US dollar by December 2025, stronger from the expectation of various economists of around INR 87.50 to 87.75 against one dollar.The selling of Indian equities by foreign portfolio investors has weakened INR in the last couple of months, it dipped to an all time low of 87.92 in February, close to the mark of 88/$1, however, the inflow in the form of debt and equities in the coming months is expected to push the value of INR. According to Nomura’s […]

[ad_1] Reliance Industries' digital arm, Jio Platforms, on Friday, reported a strong rise of 25.7% in its profit after tax (PAT) for the final quarter of the 2024–25 financial year, reaching Rs 7,022 crore, up from Rs 5,587 crore in the corresponding quarter last year.The company’s average revenue per user (ARPU), also climbed to 13.5% to Rs 206.2 in the March 2025 quarter, as compared to Rs 181.7 over the same quarter a year ago, in March 2024.The platform saw a major boost in its revenue from operations for the quarter, growing by 17.7% to Rs 33,986 crore, up from Rs 28,871 crore during the same period last year.For the full financial year ending March 31, 2025, Jio Platforms posted a PAT of Rs 26,120 crore, marking a 22% increase from Rs 21,434 crore in FY24. Annual revenue from operations […]

[ad_1] Top 10 Largest Economies In The World 2025: What are the 10 largest economies in the world? Did you know that India, which currently stands at the 5th position, will soon become the world’s 3rd largest economy by overtaking Germany and Japan? India is the world’s fastest growing major economy and its nominal GDP has grown 100% in the last 10 years! But even so, as per IMF’s 2025 projection, the GDP of US and China - the world’s largest and second largest economies - will be 7.3 times and 4.6 times respectively - that of India! We take a look at the world’s top 10 largest economies by nominal GDP size as per IMF and when India will become the third largest, next only to the US and China: [ad_2] Source link

[ad_1] NEW DELHI: Reliance Retail Venture Ltd (RRVL), the retail division of Reliance Industries on Friday reported a 29.1% rise in net profit to Rs 3,545 crore for the March quarter of FY25. The company's gross revenue also increased by 15.65%, reaching Rs 88,620 crore.For the financial year ending March 2025, the gross revenue increased by 7.85 per cent to Rs 3,30,870 crore, whilst profit after tax rose by 11.33 per cent to Rs 12,388 crore.The company's regulatory filing indicated that in the January-March quarter of the previous year, it had recorded a gross income of Rs 76,627 crore and profit after tax of Rs 2,746 crore.The latest March quarter showed Reliance Retail's operational revenue increased by 16.3 per cent to Rs 78,622 crore, compared to Rs 67,610 crore in the corresponding quarter of the previous year.Digital and new commerce […]

[ad_1] India’s economy could expand by 6.5% in the current financial year, supported by falling crude oil prices and manageable inflation levels, despite global trade tensions rising and the international economy slowing down.The EY's latest Economy Watch report released on Friday outlined four key global factors shaping India’s growth outlook: reduced exports, a global slowdown, declining crude oil prices, and a glut in global production capacities."With suitable fiscal and monetary policies, India may be able to sustain a real GDP growth at about 6.5% in FY26 as also in the medium term, while maintaining a CPI inflation below 4 per cent," said D K Srivastava, chief policy advisor at EY India.One of the main tailwinds for the Indian economy is the sharp fall in global oil prices. Crude prices, which were at $75 per barrel in early April, dropped to […]