BUSINESS
Max Healthcare's net profit jumps 7% to Rs 269 cr in Q3
Profit after tax (PAT) for the quarter stood at Rs 269 crore compared to Rs 252 crore in Q3 FY22 and Rs 267 crore in Q2 FY23, according to the company. The operating EBITDA was at its highest ever at Rs 419 crore, compared to Rs 364 crore in the corresponding quarter last year (Q3 FY22) and Rs 410 crore in the previous quarter (Q2 FY23).
Adani Group has not pledged shares of Ambuja Cements and ACC Ltd
"We would like to clarify that none of the shares of Ambuja or ACC have been pledged by Promoters," a statement from Adani Group filed by ACC said. "The Promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top up under the acquisition financing raised last year," the statement added.
Government has tried to simplify taxation regime in budget: Revenue secretary
Addressing a post-budget discussion organised by industry body FICCI, Malhotra further said that the government's thrust is on improving trust, having tax rates without increasing the tax cuts and on certainty and stability. Central Board for Direct Taxes (CBDT) chairperson Nitin Gupta, who was also present on the occasion, said that the government has tried to prevent leakage of revenue through appropriate changes.
Pakistani rupee plunges to historic low
The Pakistani rupee depreciated by Rs 2.52 to settle at Rs 271.35 at the close of the day. However, the local currency touched 272.17 against the dollar during intra-day trade, Geo News reported. The rupee had closed at Rs 268.83 on Wednesday. Since the start of this year, the rupee has depreciated by 44.92, Geo News reported.
Coromandel International Q3 net profit at Rs 539 cr
Total Income for nine months period ended 31st Dec 2022 was at Rs 24,265 crore compared with Rs. 14,937 crore of same period previous year, registering a growth of 62 per cent over previous year. The net profit for nine months was Rs 1,773 crore as against Rs 1,229 crore of previous year.
Samsung partners with Qualcomm, Google to build XR ecosystem
"We will transform the future of the mobile industry by building the XR ecosystem together with Qualcomm and Google," TM Roh, president of Samsung Electronics' Mobile eXperience business, said at the event. XR is an umbrella term covering virtual reality (VR) and augmented reality (AR).
Tea sector unhappy over total negligence in Union Budget
According to the Darjeeling Tea Association (DTA)'s principal advisor S. Mukherjee, the tea sector was probably the only industrial segment which was not spared even a word as regards to any industry stimulation package or subsidy.He pointed out that even the recommendations of the Parliamentary Standing Committee of Commerce & Industry for a one- time package for the revival of the tea sector in Darjeeling was also ignored.
Adani Enterprises withdraws RHP, cancels agreements with several parties
The move is a follow up to the company's decision on Wednesday not to proceed with its Rs 20,000 crore follow-on public offer and withdraw the RHP on account of the prevailing market conditions. The company said owing to the extreme volatility in the company's stock price, other commercial and strategic considerations, and to protect the interest of the investors it is withdrawing the follow-on public offer.
Life insurance scrips suffer from 'Halahala' poison in Amrit Kaal budget
Barring the ICICI Prudential Life Insurance scrip which opened positive, the shares of other listed life insurers were in red for a second consecutive day. The shares of ICICI Prudential that closed at Rs 402.55 on Wednesday opened at Rs 396.95 and went up to Rs 410.61 and changed hands for Rs 407.
Indian aviation industry suffers over Rs 24,000 cr loss in 2020-22
As per the Union Ministry of Civil Aviation, the industry in FY 2020-21 suffered a loss of Rs 12,479 crore and in FY 2021-22 it was Rs 11,658 crore. In a reply at the Lok Sabha on Thursday, the Ministry said the Centre has taken various initiatives to support the aviation industry. The reduction in Value Added Tax (VAT) on Aviation Turbine Fuel (ATF) was taken up with state governments and union territories levying high VAT on ATF.
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