Business Finance

TATA GROUP RECEIVED A SUBSTANTIAL AWARD OF INR 766 CRORE FOR THE SINGUR PROJECT

4 min read

Tata Motors has been authorized to recover a sum of INR 765.68 crore from the West Bengal Industrial Development Corporation (WBIDC) as compensation for the [Read More…]

Business Finance

RESTRICTIONS ON STATE-IMPOSED POWER LEVIES

3 min read

The central government has directed states that they do not possess the authority to impose any form of taxation or levies on electricity generated from [Read More…]

Business Finance

INDIA AND THE UK ASSESS THE ADVANCEMENT OF THEIR FREE TRADE AGREEMENT (FTA)

2 min read

India and the UK conducted a review of the progress in their negotiations for the proposed Free Trade Agreement (FTA), which has now reached its [Read More…]

Business Finance

IN THE SECOND QUARTER, RELIANCE’S NET PROFIT SURGED BY 27.4%

3 min read

Reliance Industries Ltd: Q2 Financial Performance Overview Reliance Industries Ltd reported a dynamic financial performance in the second quarter, with noteworthy highlights in various segments [Read More…]

Tech News

ONEPLUS REFUSES TO COMPROMISE WITH ITS INAUGURAL FOLDABLE SMARTPHONE IT’S ONEPLUS OPEN

3 min read

Embracing the ‘Never Settle’ mantra, OnePlus Open lives up to this ethos right from the moment you unbox it. The device includes an 80W SUPERVOOC [Read More…]

Business Finance

VODAFONE IDEA’S LOSSES CONTINUE TO INCREASE

2 min read

Vodafone Idea (Vi) experienced an increased widening of losses during the quarter ending on September 30, despite flat revenues. The telecommunications company reported a consolidated loss of Rs 8,738 crore, compared to Rs 7,596 crore in the same period the previous year. In the preceding quarter, ending on June 30, losses were recorded at Rs 7,940 crore. This widening loss can be attributed to revenues of Rs 10,716 crore, just slightly higher than the year-ago quarter’s Rs 10,615 crore. Meanwhile, expenses remained elevated at Rs 18,670 crore, compared to Rs 18,302 crore in the same period last year.

Average revenue per user (ARPU) saw a modest increase, reaching Rs 142, a 2.1% sequential rise from Rs 139. This was primarily driven by the migration of subscribers to higher ARPU plans. Vi also noted significant data usage per broadband customer at 15.8 GB per month, with a 2% sequential growth in total data traffic for the quarter.

Vi’s subscriber base for the quarter stood at 219.8 million, a slight decrease from 221.4 million in the April-June period and 234.4 million in the same period last year. The company did highlight that its 4G subscriber base continued to grow for the ninth consecutive quarter, reaching 124.7 million, an addition of 1.8 million subscribers since the first quarter of the fiscal year.

Despite the challenging financial situation, Vi reported the lowest quarterly subscriber decline of 1.6 million since the merger. In terms of debt, Vi’s total gross debt as of September 30 was Rs 2,12,780 crore, including deferred spectrum payment obligations of Rs 1,35,130 crore and AGR liability of Rs 68,180 crore owed to the government. The company also had debt from banks and financial institutions, amounting to Rs 7,860 crore, in addition to Rs 1,610 crore from optionally convertible debentures.

Business Finance

SELLOFF SPARKS 900-POINT DROP IN SENSEX

2 min read

Geopolitical Tensions and Corporate Disappointments Fuel Widespread Stock Sell-Off The BSE benchmark Sensex experienced a sharp decline of nearly 900 points during its sixth consecutive [Read More…]

Business Finance

ADANI GROUP’S AUDITOR UNDERGOES INVESTIGATION

2 min read

India’s NFRA Initiates Inquiry into EY Member Firm Auditing Adani Group Companies Reports suggest that the National Financial Reporting Authority (NFRA), India’s accounting regulator, has [Read More…]