Reuters India

India’s Cipla Q3 profit tops estimates on North America sales boost

BENGALURU/HYDERABAD (Reuters) -Indian generic drugmaker Cipla on Monday reported its third-quarter profit above analysts expectations, boosted by strong performances in North American and domestic markets. Consolidated net profit rose 32% to 10.56 billion Indian rupees ($127.1 million) in the quarter ended Dec. 31 from a year earlier, compared with average analysts’ estimate of 10.43 billion …

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S&P Global upgrades Adani Ports, Adani Electricity on cash flow optimism

BENGALURU (Reuters) – S&P Global Ratings revised its outlook for India’s Adani Ports and Special Economic Zone and Adani Electricity Mumbai to stable from negative on signs of robust cash flow in the next 12 to 24 months. Adani Ports’ ratio of adjusted net debt to earnings before interest, tax, depreciation and amortization – a …

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Sony ends $10 billion merger with India’s Zee, setting stage for legal row

By Nishit Navin and Chris Thomas BENGALURU (Reuters) -Japan’s Sony Group scrapped plans on Monday for a $10 billion merger of its Indian unit with Zee Entertainment, ending a deal that could have created one of the South Asian nation’s biggest TV broadcasters. The collapse of the deal in content-hungry India creates more uncertainty for …

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India’s Coforge Q3 profit rises on deal wins, maintains FY revenue forecast

BENGALURU (Reuters) – Indian IT services company Coforge reported a 4.3% increase in third-quarter profit, aided by deal wins in a challenging macroeconomic environment, and reiterated its revenue growth forecast for fiscal year 2024. Consolidated net profit rose to 2.38 billion rupees ($28.6 million) for the quarter ended Dec. 31 from 2.28 billion rupees a …

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Colgate-Palmolive India posts Q3 profit jump on lower expenses, urban demand

BENGALURU (Reuters) – Colgate-Palmolive (India) reported a 35.7% jump in third-quarter profit on Monday, aided by healthy urban demand and a fall in expenses. Net profit rose to 3.30 billion rupees ($39.7 million) for the quarter ended Dec. 31 from 2.43 billion rupees a year earlier. Sales of consumer goods makers have been boosted by …

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India’s Steel Authority suspends two directors at direction of anti-graft ombudsman

NEW DELHI (Reuters) – India’s state-owned Steel Authority of India has suspended two board directors at the direction of the anti-graft ombudsman, the company said in a statement on Sunday, without specifying the allegations. The suspension will not affect the company’s performance, Chairman Amarendu Prakash said in a statement. “Business is being carried out as …

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