Reuters India

India raises concerns over oil market volatility with producer countries

By Nidhi Verma NEW DELHI (Reuters) – India has flagged concerns over volatility in the global oil prices to major oil producers and organisations, oil minister Hardeep Singh Puri told lawmakers on Thursday. India, the world’s third biggest oil importer and consumer, ships in over 80% of its oil needs from overseas. “Government has been …

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India’s Apollo Tyres Q1 profit more than doubles on lower costs

BENGALURU (Reuters) – India’s Apollo Tyres reported a bigger-than-expected rise in quarterly profit on Thursday, boosted by lower rubber costs and strong domestic auto sales. The company’s consolidated profit more than doubled to 3.97 billion rupees ($48.07 million) in the three months ended June 30 from 1.77 billion rupees a year earlier. Analysts, on average, …

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Honeywell Automation India’s profit growth slows as expenses climb

BENGALURU (Reuters) – Engineering firm Honeywell Automation India reported its slowest profit growth in five quarters on Thursday, as expenses, led by the rising costs, outpaced revenue. The Indian arm of U.S. conglomerate Honeywell International Inc reported profit grew a marginal 1.4% to 1.03 billion Indian rupees ($12.46 million) in the first quarter ended June …

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India’s Torrent Power posts higher Q1 profit on robust demand from gas-based plants

BENGALURU (Reuters) – Torrent Power Ltd on Thursday reported a 3% increase in June-quarter profit, aided by a rise in contribution from merchant power sales in gas-based plants. The power arm of Torrent Group said consolidated net profit rose to 5.17 billion rupees ($62.58 million) in the three months ended June 30 from 5.02 billion …

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India’s consumer goods growth hits 1-1/2-year high on rural revival- NielsenIQ

CHENNAI (Reuters) – The consumer goods industry in the world’s most populous country clocked its fastest growth in a year and a half in the April-June quarter, as softening inflation drove demand even in the hinterlands, according to a report published on Thursday. Demand for consumer goods has been under pressure in rural India, with …

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India’s largest basmati rice exporter KRBL posts Q1 profit growth on steady demand

By Bharath Rajeswaran BENGALURU (Reuters) – KRBL, India’s largest exporter of branded basmati rice, on Thursday said its first-quarter profit rose 18.90% on steady demand for its India Gate basmati rice and strong export prices. The company’s consolidated net profit rose to 1.95 billion rupees ($23.59 million) for the quarter ended June 30, from 1.64 …

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India’s Samvardhana Motherson misses Q1 profit view as higher costs weigh

BENGALURU (Reuters) – India’s auto components maker Samvardhana Motherson International on Thursday reported a smaller-than-expected jump in first-quarter profit, as higher expenses offset performance at its modules and polymer products division. The company’s consolidated net profit rose to 6.01 billion rupees ($72.60 million) for the quarter ended June 30 from 1.41 billion rupees a year …

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