Business

Billionaire Mukesh Ambani-backed Reliance Industries (RIL) on Friday, April 25, reported a net profit of ₹19,407 crore for the January-March quarter (Q3 FY25), up 2.41% from ₹18,951 crore recorded in the same period last year.Its revenue from operations grew 10% to ₹2,64,573 crore at the end of March quarter, as against ₹2,40,715 crore in the same period a year ago.In terms of operations, Reliance Industries' operating profit, also known as earnings before interest, tax, depreciation and amortization (EBITDA), rose 3.1% to ₹43,832 crore from ₹42,516 crore in the same period last year.Its operating profit margin, also known as EBITDA margin, declined 110 basis points (bps) to 16.57% from 17.66%.The company's board of directors has recommended a dividend of ₹5.5 per share for the financial ...

Zomato Share Price: Zomato shares fell 5% to ₹264.85 per share on the NSE after global brokerage firm Jefferies raised concerns over rising competition in the quick commerce space.After Zomato's shares more than doubled in value in 2024, analysts at Jefferies forecast that 2025 could be a breather year, with the stock possibly shifting gears into a price consolidation phase.According to news reports, the brokerage said aggressive strategies by existing players and entry of new competitors could lead to higher discounts, which could pose risks to Zomato's medium-term profitability.The brokerage said that apart from Zomato's Blinkit, competitors such as Swiggy's Instamart, Zepto, Amazon and others are actively competing for quick commerce market share, reports Moneycontrol. The report said ...

New Delhi, April 23: Crude oil prices rose by Rs 93 to Rs 5,545 per barrel in futures trade on Wednesday as participants increased the size of their deals due to strong spot demand. Crude oil contracts for May delivery on the Multi Commodity Exchange traded higher by Rs 93, or 1.71 percent, at Rs 5,545 per barrel, with 14,264 lots traded open. Analysts said crude oil prices rose in futures trade as participants increased their deals. Globally, West Texas Intermediate crude was trading 1.66 percent higher at $64.73 per barrel in New York, while Brent crude was up 1.60 percent at $68.52 per barrel.

New Delhi, Gold futures on Monday witnessed a massive jump of Rs 1,493 and crossed the psychological mark of Rs 96,000 per 10 grams due to rising demand in the global market.The yellow metal contracts for June delivery on the Multi Commodity Exchange (MCX) continued their stellar performance for the third consecutive day and climbed Rs 1,493 or 1.57 percent to touch a new peak of Rs 96,747 per 10 grams in early trade.Later, it bounced back sharply and was trading at Rs 96,600 per 10 grams, up Rs 1,346 or 1.41 per cent with an open interest of 21,540 lots.Similarly, the follow-on contract for August delivery rose by Rs 1,464 or 1.53 percent to hit a record high of Rs 97,360 per 10 gram on MCX.Commodity markets were closed on Friday on account of Good Friday.Analysts said the ongoing trade ...

New Delhi, Automobile exports from India grew 19 percent to over 53 lakh units in FY24-25 on the back of strong demand for passenger vehicles, two-wheelers and commercial vehicles in overseas markets.Total exports stood at 53.63 lakh (53,63,089) units in the previous fiscal as against 45 lakh (45,00,494) units in FY23-24 ending March 31, 2024.Passenger vehicle shipments grew 15 percent to 7,70,364 units in FY24 as against 6,72,105 units in the previous fiscal.The segment recorded its best ever annual performance in the last fiscal on the back of demand for global models manufactured in India, industry body SIAM said.With the improvement in manufacturing quality, some companies have also started exporting to developed markets.Utility vehicle dispatches led the sector with dispatches of 3,6...

Prestige Estates Projects Ltd reported a 48% growth in sales bookings in Q4, touching nearly Rs 7,000 crore.Prestige Estates Sales: The fourth quarter witnessed a 9% growth in sales volumes, reaching 4.49 million sq ft, with 2,301 units sold.Prestige Estates Projects has announced a significant 48% growth in sales bookings for the January-March quarter, touching nearly Rs 7,000 crore.This growth is in contrast to the annual decline, where pre-sales for FY 2024-25 fell 19% to over Rs 17,000 crore.The decrease in annual sales bookings is attributed to deferred launches due to delays in approvals, resulting in the Company not meeting its annual target of Rs 24,000 crore.The fourth quarter saw a 9% increase in sales volumes, reaching 4.49 million sq ft with 2,301 units sold. Average realisati...