Page 16 - Companies

Adani Wilmar's Solan facility raided for alleged GST violations: Report

Adani Wilmar had failed to deposit GST collection for "several years" and this reportedly led to the inspection

2,500 IT freshers to be given pink slips for failing screening test: Report

The screening tests may also get more stringent as the firms are under pressure to honour campus offers but are already overstaffed

Microsoft's ChatGPT-powered Bing browser now available for public use

American tech giant Microsoft's new ChatGPT-powered Bing experience will now be available for everybody as a "limited preview" on desktop.

Pennar Industries' PAT up by 97.2% at Rs 21 crores in December quarter

Pennar Industries Ltd (PIL), on Wednesday said its consolidated profit after tax for the quarter ended December 31 was up by 97.2 per cent at Rs 21.12 crore compared to Rs 10.71 crore in Q3 FY22. The city-based value-added engineering products and solutions company said net revenues during the quarter stood at Rs 692.22 crore up 29.9 per cent compared to Rs 532.97 crore in Q3 FY22. For the first nine months period in the current fiscal, the company booked Rs 51.6 crore PAT on Rs 2,226.2 crore net revenue.

When silver is gold for company boards: Over 300 directors 'octogenarians'

321 company directors are octogenarians, 22 are over 90, largest chunk in 45-60 band

TCS expands partnership with UK's Phoenix Group, inks over £600 mn deal

This will be one of the largest deals for the company in the coming quarter

Trent reports consolidated net profit at Rs 154.81 cr in December quarter

Tata group retail firm Trent Ltd on Wednesday reported a consolidated net profit of Rs 154.81 crore in the third quarter ended on December 31, 2022. The company had posted a net profit of Rs 113.78 crore in the October-December quarter a year ago, Trent said in a regulatory filing. Its revenue from operations was at Rs 2,303.38 crore during the quarter under review compared to Rs 1,499.08 crore in the third quarter of FY22. Trent's total expenses were at Rs 2,189.62 crore. According to the company, its results for Q3 FY23 "are not comparable" with the corresponding quarter and period of the previous year. "This (the consolidated net profit result) gave the change in profile & quantum of inventory provisioning, rent waivers etc between the three quarters on account of the pandemic. Q3 FY22 had accounting for rent waivers and reversals relating to inventory provisioning. Accordingly, the CAGR of revenues and profitability versus FY20 is more representative of growth," it ...

NCLAT rejects bankruptcy board's plea against telecom tower firm GTL Infra

Corporate debtor's business is sustainable and it is a viable going concern, NCLT had ruled

Number of recognised startups rises to 86,713 in Dec 2022 from 445 in 2016

As many as 86,713 startups have been recognised by the government as on December 31, 2022, Parliament was informed on Wednesday. These startups are eligible to avail fiscal incentives under the Startup India action plan of the government. "As a result of sustained government efforts, the number of recognized startups has increased from 445 in 2016 to 86,713 in 2022 (as on December 31, 2022)," Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In a separate reply, he said in the UT of Ladakh, 1,006 industrial units have been established with total investment of Rs 122.71 crore after bifurcation of erstwhile Jammu & Kashmir state. On the other hand, Jammu & Kashmir has received investment proposals worth Rs 26,650.49 crore.

As layoffs continue, companies may tweak processes to determine appraisals

In the upcoming year, the salary hikes are less likely to be dependent upon seniority

TenderCuts launches new platform HappyChops for local meat outlets

Platform empowers local meat shops with latest tech and robust supply chain; has on-boarded 100 shops in Chennai, plans to rope in another 300 by March, expand to 10 more cities by June

LinkedIn India's membership crosses 100 million, second largest after US

Software & IT professionals form biggest chunk of members; management the most sought-after skill

Polaris Smart Metering raises $100 mn in funding from I Squared Capital

Funds raised will primarily be used to acquire, execute and finance large smart metering contracts across India

Despite a good Q3, near-term demand worries cloud Apollo Tyres' outlook

There could, however, be some margin relief on account of falling input costs

Distressed funds including Oaktree Capital scoop up Adani Group bonds

Adani Enterprises Ltd., the flagship company, finished up nearly 15% on Tuesday, leading gains as other related stocks also rose

Adani Ports considering to repay $605 mn of loans to calm investors

India's largest private sector ports operator, which reported an earnings miss in the latest quarterly earnings, also said it would roughly halve its capital expenditure next financial year

Over 75% Indian workplaces lack basic facilities for PwD: Randstad survey

The findings of a report released by Randstad India reveal that there is a gap between the policies for PwD and their implementation

Weak tea biz a drag on domestic sales performance of Tata Consumer Products

International margins fall sharply on cost inflation, price lag in December quarter

Adani Ports eyes Rs 15,000 cr Ebitda in FY23, will prepay Rs 5,000 cr debt

Prepayment to significantly improve net debt-to-Ebitda ratio, bring it closer to 2.5x by March, says company

Century Ply profit slips by 16% y-o-y to Rs 81 cr in Dec quarter

India's leading plywood maker Century Plyboards (India) Ltd on Tuesday reported a standalone net profit of Rs 81.36 crore in the third quarter ended December 2022, a 16 per cent decline compared to a net profit of Rs 97.27 crore a year ago. the company reported a 3 per cent growth in revenue to Rs 877 crore for the quarter under review, compared to Rs 848 crore in the corresponding quarter of FY'22. Century Ply also inaugurated its extended capacity at Hoshiarpur MDF (medium density fibre) plant, the company said in a statement. As part of its investment plan over FY23-FY25, the company is investing about Rs 250 crores in Hoshiarpur. With this, the production capacity has been enhanced by 58.33 per cent, the company said. "The Q3FY23 ended with quarterly revenue of Rs 877 crore on standalone basis, a de-growth of just 2.6 per cent on QoQ basis despite being a seasonally weak quarter," Century Plyboards India chairman Sajjan Bhajanka said. The upcoming greenfield MDF project in And