Reuters India

QIA likely picks up shares worth $500 million in India’s Adani Green – report

BENGALURU (Reuters) – Qatar Investment Authority (QIA) likely picked up shares worth $500 million in India’s Adani Green Energy via block deals on Monday, ET Now reported, citing sources. Over 1.1 million shares of the Adani Group-owned renewable power producer changed hands in fourteen block deals as of 2 p.m. IST, as per data from …

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Indian e-commerce startup Meesho posts first-ever profit, plans IPO in 12-18 months

By Munsif Vengattil BENGALURU (Reuters) – Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview. Meesho competes with Amazon and Walmart’s Flipkart in India’s fast-growing e-commerce market, with its website becoming popular by targeting smaller …

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India’s MedPlus Health reports 18% rise in Q1 profit on retail demand

BENGALURU (Reuters) – India’s MedPlus Health Services reported a 18.3% rise in first-quarter profit on Monday as increased presence of the pharmacy helped drive its retail sales. The company’s consolidated net profit rose to 37.9 million rupees ($458,277.41) in the three months ended June 30, from 32 million rupees, a year earlier. MedPlus Health was …

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India’s Godrej Consumer Products misses Q1 profit view as costs bite

BENGALURU (Reuters) – India’s Godrej Consumer Products reported a lower-than-expected quarterly profit on Monday, hurt by mounting costs. Consolidated net profit fell nearly 8% to 3.19 billion rupees ($38.57 million) for the first quarter ended June 30, the owner of the Cinthol soap brand said in an exchange filing. Analysts, on average, had expected the …

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India’s Sobha says Q1 profit doubles on strong demand for houses

BENGALURU (Reuters) – Indian real estate developer Sobha Ltd on Monday said its June quarter profit more-than-doubled as demand in the country stayed resilient, with more people booking flats and houses in big cities and towns. The Bengaluru-headquartered company’s consolidated net profit rose to 120.5 million rupees ($1.46 million) for the three months ended June …

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India’s Gland Pharma posts 41% jump in quarterly revenue on Cenexi acquisition

HYDERABAD (Reuters) – Indian generic injectables maker Gland Pharma Ltd reported a 41% jump in first-quarter revenue on Monday, aided by its acquisition of French pharmaceutical group Cenexi. The Hyderabad-based company, which draws the bulk of its revenue from the United States, Europe, Canada, Australia and New Zealand, said revenue jumped to 12.09 billion Indian …

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Indian opposition leader Rahul Gandhi returns to parliament after reinstatement

By YP Rajesh and Rupam Jain LONDON (Reuters) – Rahul Gandhi returned to India’s parliament on Monday after a Supreme Court ruling, boosting the profile of his Congress party and its opposition allies ahead of a no-confidence vote against Prime Minister Narendra Modi’s government. The vote is not expected to affect the popularity of Modi’s …

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India’s Tata Chemicals posts drop in Q1 profit on lower prices, volumes

BENGALURU (Reuters) – India’s Tata Chemicals Ltd posted a 9.7% fall in first-quarter profit on Monday, hurt by a fall in soda ash prices and lower volumes. The chemical manufacturer’s consolidated net profit fell to 5.32 billion rupees ($64.31 million) during the quarter ended June 30 from 5.89 billion rupees a year earlier. “Soda ash …

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India’s Bayer Cropscience posts Q1 profit rise on corn business strength

BENGALURU (Reuters) – Bayer Cropscience, the Indian unit of German drug and pesticide maker Bayer AG, on Monday reported an 8.6% rise in quarterly profit, boosted by strong sales in its corn seeds business. Profit rose to 3.29 billion rupees ($39.77 million) for the quarter ended June 30, from 3.03 billion rupees a year earlier. …

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