Business

28 Apr

Yes Bank net profit rises 123% quarter-on-quarter to Rs 452 crore in Q4

Priyanka RoyBusiness

Yes Bank Q4 Results Highlights: Indian private lender Yes Bank reported a significant 123% year-on-year growth in net profit for the fourth quarter (Q4) of FY24,increased to ₹452 crore from ₹202.4 crore in the same quarter last year, well above analysts' expectations. Sequentially, profits increased 95.2% from the previous quarter, according to the earnings report dated April 27, 2024. Net interest margin (NIM) remained stable at 2.4% for Q4FY24, in line with the previous quarter. The bank experienced strong growth in non-interest income, With a growth of 56.3% year-on-year and 31.3% quarter-on-quarter growth in Q4FY24, Resulting in 38.8% year-on-year growth for FY24. CEO…

27 Apr

Nestlé India and Dr. Reddy’s Laboratories Ltd. to form a partnership to introduce innovative nutraceutical brands to consumers in India

Business BureauBusiness

Nestlé India Limited and Dr. Reddy's Laboratories Ltd have formed a joint venture to bring innovative nutraceutical brands to consumers in India and other territories. The partnership will combine Nestlé Health Science's global range of nutritional health solutions, vitamin, minerals, herbals, and supplements with Dr. Reddy's' established commercial strengths in India. The joint venture will help JV Partners grow their complementary nutraceutical portfolios in categories such as metabolic, hospital nutrition, general wellness, women's health, and child nutrition for consumers across India. This partnership is a significant step towards enhancing consumer value through powerful brands and products, as it will enable…

27 Apr

Ramveer Tanwar partners with Coca-Cola for pond restoration in Gurugram

Business BureauBusiness

‘The Pondman of India’ teamed up with the Coca-Cola India employees and local volunteers to desilt a pond in Shikohpur, Gurgaon, Haryana. They also planted saplings to enhance the surroundings. This joint effort in partnership with PHD Rural Development Foundation aims to benefit the socio-economic ecosystem setting a refreshing example of community-led environmental stewardship.

27 Apr

Skill India Digital Hub Empowers Youth with Digital Skills

Business BureauBusiness

India stands at the forefront of a global skills revolution. The International Labour Organization (ILO) convened the Global Skills Forum, spotlighting India's innovative strides in skill development. Central to this discussion was the pivotal role played by the Skill India Digital Hub (SIDH), an initiative by the Ministry of Skill Development and Entrepreneurship (MSDE), in reshaping the nation's skill ecosystem. During the forum's panel discussion on "Human-Centered Digital Transformation of Skills Development," Ms. Shreshtha Gupta, Executive Vice President of the National Skill Development Corporation (NSDC), hailed SIDH as a game-changer. Gupta emphasized SIDH's role as a comprehensive digital platform, revolutionizing…

27 Apr

Nestlé India brews excitement with NESPRESSO launch, promises premium coffee experience

Business BureauBusiness

Nestlé India has announced its plans to introduce the highly anticipated NESPRESSO, the renowned pioneer in premium coffee, to the Indian market by the end of 2024. The launch will mark the availability of NESPRESSO's exclusive coffees and machines, catering to both domestic and professional consumers with its original and professional systems. The inaugural NESPRESSO boutique is slated to open its doors in Delhi, with subsequent expansions into other major cities across the country. In addition to physical outlets, NESPRESSO products will be made accessible online through various e-commerce platforms, widening its reach to coffee enthusiasts nationwide.Suresh Narayanan, Chairman and…

27 Apr

HCL’s revenue extend 5% in FY24

Priyanka RoyBusiness

Bengaluru: HCL Tech's revenue grew 5% in constant currency for FY20, showing a significant decline from the 13.7% growth recorded in the previous year. The company's operating margin endure stable at 18.2% year-on-year. HCL Tech CEO C Vijay Kumar said, “We reacted with agility and maintained good momentum in the services and software businesses. Our operating margin is in line with our guidance, ending the year at 18.2% margin. Over the next year (FY25), “we expect consolidation on both the demand and supply fronts.” On a sequential basis, the company's profit saw a marginal increase of 0.3 in constant currency. However, its…

26 Apr

SBI Life Insurance Q4 results: Net profit growth up 4% to Rs 810 crore

Priyanka RoyBusiness

SBI Life Insurance on April 26 reported net profit of Rs 810 crore for the March quarter, up 4 ℅ from the year-ago period. The insurer’s net premium income stood at Rs 25,116 crore as against Rs 19,896 crore last year. The solvency ratio fell to 1.96 percent as against 2.15 percent last year. For the year ending March 2024, the insurer’s annual premium equivalent (APE) stands at Rs 19,720 crore with 17 per cent year-on-year growth. The value of new business margin (VNB) for the year stood at 28.1 percent. The insurer’s total assets under management stood at Rs…

26 Apr

Unlocking the Nutritional benefits of Almonds in Boosting Immunity and Family Well-being

Business BureauBusiness

The Almond Board of California held a panel discussion on 'Snack Smart for a Healthier Family and Stronger Immunity' at The Park Hotel, Kolkata, to address the issue of unhealthy snacks affecting overall well-being and immunity. Panelists included Bollywood actress Soha Ali Khan, Celebrity Pilates Master Instructor Yasmin Karachiwala, and Ritika Samaddar, Regional Head of Dietetics at Max Healthcare – New Delhi. The session emphasized the importance of healthy snacking, particularly incorporating nutrient-rich options like almonds into daily diets, for boosting immunity and family well-being. The panel discussion emphasized the importance of clean, balanced eating habits, particularly in the face…

26 Apr

Tata Motors Leads in Innovation: Secures 333 Patents in Fiscal Year 2024

Business BureauBusiness

Tata Motors, India’s leading automobile company, has yet again achieved a significant milestone towards intellectual property rights(IPR) creation with a record-breaking number of 222 Patents and 117 Designs applications filed during the year FY24, highest in its history. The filings cover various product and process innovations, focusing on key automotive trends like Connectivity, Electrification, Sustainability, and Safety (CESS). Tata Motors bcx has received a record 333 patents, covering vehicle systems like powertrain, body & trim, suspension, brakes, HVAC, and emission control, bringing its total granted patents to over 850. Tata Motors prioritizes engineering excellence, cleaner powertrains, design, connectivity, and intelligent…

25 Apr

SPACE India welcomes Bollywood’s millennial star Sanjana Sanghi as its Brand Ambassador

Anshu RayBusiness, Entertainment

Actress Sanjana Sanghi's relentless pursuit of making world a better place and her dedication to empowering the Youth are second to none! As an UNDP Youth Champion, she has garnered widespread admiration, attracting audiences not just with her acting talent but also with her noble humanitarian work. Now, the model has added another feather to her cap as she joins SPACE India as the brand ambassador. Sanjana's deep-hearted commitment to education and knowledge aligns superbly with this association. Sharing her excitement about embracing a new role, Sanjana Sanghi expressed, "Those who know me are well aware of my passion and…