Business

23 May

Q4 results: Power Grid’s net profit descend 4% to ₹4,166.33 Crore, declars final surplus of ₹2.75 per share

Priyanka RoyBusiness

Power Grid Corporation of India Limited (POWERGRID) on Wednesday announced its financial results for the fourth quarter (Q4) of the financial year 2024 (FY24) ending March 31, 2024.The state-owned company reported a nearly 4 per cent decline in its consolidated net profit to ₹4,166.33 Crore in the March quarter, mainly due to a marginal decline in income. Its consolidated net profit in the same quarter a year ago was ₹4,322.87 Crore.In a stock exchange filing, Power Grid said that its total income declined to ₹12,305.39 Crore in the fourth quarter, compared to ₹12,557.44 Crore in the same period a year…

22 May

Paytm Q4 results: Net loss grew up to Rs 550 Crore after closure of banking unit

Priyanka RoyBusiness

Paytm's revenue from operations declined 2.8 percent year-on-year (YoY) to Rs 2,267.1 Crore from Rs 2,464.6 Crore in the same quarter of FY23.According to the company's regulatory filing, fintech firm One97 Communications Ltd, owner of Paytm, has widened its loss to Rs 550 Crore in Q4FY22. The company had incurred a consolidated loss of Rs 167.5 Crore in the same period a year ago.Paytm's revenue from operations declined 2.8 percent year-on-year (YoY) to Rs 2,267.1 Crore from Rs 2,464.6 Crore in the same quarter of FY23.However, the company's loss narrowed to Rs 1,422.4 Crore in FY24 compared to Rs 1,776.5…

22 May

Guwahati welcomes Blum’s premier experience centre, elevatesfurniture design and innovation

Business BureauBusiness

Blum India has announced its first Experience Centre in Northeast India, strategically located in Guwahati. This state-of-the-art centre, established in partnership with Jain Interior Solution, represents a major milestone in Blum's expansion across the country. The inauguration event was graced by Mr. Nadeem Patni, Managing Director of Blum India, and Mr. Ravi Jain, Owner of Jain Interior Solution. Their presence underscored the importance of this collaboration in revolutionizing the furniture fittings market in the region. "The Northeast region of India holds significant geostrategic importance, and the ongoing economic advancement in this region signifies immense potential," Mr. Patni remarked. "Seizing this…

22 May

Bajaj Allianz Life achieves record-breaking growth in FY2024

Business BureauBusiness

Bajaj Allianz Life Insurance, a leading player in India’s private life insurance sector, has reported unprecedented growth for FY2024, marking significant achievements across various metrics. The company’s Individual Rated New Business (IRNB) surged by 21% year-on-year, positioning it as the fastest-growing life insurer among the top ten private players, with a five-year CAGR of 29%. In a milestone achievement, Bajaj Allianz Life’s New Business Value exceeded ₹1,000 crore for the first time, reaching ₹1,061 crore. The company also recorded its highest-ever Assets Under Management (AUM) at ₹1,09,829 crores as of March 31, 2024. Renewal premiums rose sharply by 32% to…

22 May

Byatikram Education Conclave bridges hearts and minds across India and Bangladesh

Business BureauBusiness

Byatikram MASDO, a beloved socio-cultural organization from Assam, is all set to host the much-anticipated "Byatikram Education Conclave" at the picturesque Dhaka Club in Dhaka, Bangladesh, on June 10th, 2024. This event, made possible through the collaborative efforts of partners such as the Assistant High Commission of Bangladesh in Guwahati, JIS University, Friends of Bangladesh, and Tarun IAS, promises to be more than just an academic gathering - it's a celebration of human connection and shared aspirations.The conclave is a testament to the power of education in fostering understanding and friendship across borders. It will bring together universities and educational…

21 May

Spices Board inspecting MDH, Everest plants; Efforts underway to upturn compliance

Priyanka RoyBusiness, Economy

Data shared by the Ministry of Commerce and Industry on Monday showed that the maximum residue level (MRL) for EtO in Singapore was 50 mg/kg, while in the EU it was 0.02 to 0.01 mg/kg and in Japan it was 0.01.The Spices Board of India is carrying out inspections at several MDH and Everest processing plants in the country to ensure that spice exports meet the requirements of the respective export destination, senior government officials said on Monday, adding that they have also suggested corrective action such as the use of steam sterilization, Also added actions. The focus is on…

21 May

Upstox enters insurance market, starting with term life coverage

Business BureauBusiness

Upstox has announced a partnership with HDFC Life to introduce insurance offerings, enhancing its mission of empowering individuals on their wealth-building journey. Starting with Term Life Insurance, Upstox aims to expand its services to include Health, Motor, and Travel Insurance, catering to diverse needs. This initiative stems from a deep-seated understanding of the challenges individuals face in navigating the complexities of insurance. Kavitha Subramanian, Co-Founder of Upstox, shares the platform's vision of making financial decisions accessible and stress-free for all. "We believe everyone deserves peace of mind when it comes to their financial future," she says.The collaboration with HDFC Life…

21 May

ONGC Achieves Record-Breaking Standalone Net Profit of Rs.40,526 Crore for FY’24

Business BureauBusiness

The ONGC Board of Directors approved the annual results for FY'24 at its 380th Meeting on May 20, 2024. The company achieved its highest standalone net profit of Rs. 40,526 crore for FY'24, the highest consolidated net profit of Rs. 57,101 crore. Crude Oil production in Q4 FY’24 saw an increase of 2.4% over Q4 FY’23 whereas gas production decreased by 3%. The highest ever total dividend for FY'24 is Rs. 15,411 crore, with a total dividend would be 245% (Rs 12.25 per share of face value Rs 5 each). This includes interim dividend of 195% (Rs9.75per share) already paid…

21 May

IndiaSkills 2024 wraps up, 58 champions set to shine on world stage

Business BureauBusiness

The curtains have closed on IndiaSkills National Competition 2024, leaving behind a legacy of talent, determination, and 58 exceptional winners primed to showcase India's prowess on the global stage. From May 15th to 19th, Yashobhoomi, Dwarka, witnessed fierce competition as over 900 candidates from 30+ states and Union Territories battled it out across 52 diverse skills. Odisha emerged as the frontrunner with an impressive tally of 17 Gold, 13 Silver, 9 Bronze, and 12 Medallion for Excellence, closely followed by Karnataka and Tamil Nadu. The competition transcended traditional crafts to cutting-edge technologies, reflecting the dynamic skill landscape of modern India.…

21 May

FGII conducted complementary health check-up camps in Sikkim

Business BureauBusiness

Future Generali India Insurance (FGII) has organized a complementary health check-up camps in Sikkim, generating significant interest among the local population. The initiative held at State Bank of Sikkim head office and Entel Motors in Gangtok on May 8 and May 10 respectively, witnessed the participation of over160 people. The health camps, which were conducted in association with Central Referral Hospital - Sikkim Manipal University, Gangtok, emphasized the significance of preventative healthcare and routine health check-ups for early detection and timely care. The company intends to arrange more such camps in the future to create awareness and equip individuals with…