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FMCG firm Procter & Gamble Q4 net profit down 29% to Rs 49 crore

FMCG firm Procter & Gamble Hygiene and Health Care Ltd on Wednesday reported a 29.2 per cent decline in its net profit at Rs 48.98 crore for the quarter ended June 2021. The company, which follows the July-June financial year, had posted a net profit of Rs 69.21 crore in the corresponding period of the previous fiscal, it said in a regulatory filing. However, revenue from operations rose 23.96 per cent to Rs 786.59 crore as against Rs 634.53 crore in the April-June period last year. Revenue from operations for the full fiscal stood at Rs 3,574.14 crore.

Airtel board to meet on August 29 to consider fundraising options

Telecom operator Bharti Airtel on Wednesday said its board will meet on August 29 to consider various capital raising options, including equity and debt. The fundraising options entail equity or equity-linked or debt instruments, the company said in a regulatory filing but did not divulge into the quantum of capital raising under consideration. The latest move is expected to give more fire power to Airtel, as the company takes on rivals in the fiercely-competitive Indian telecom market that is now gearing up for 5G.

Jindal Steel plans $2.4-billion spend in six years, double output

Jindal Steel & Power Ltd. plans to spend $2.4 billion over the next six years to ramp up capacity, joining its peers in announcing massive expansions as a recovery from the pandemic boosts demand. The steelmaker plans to raise total crude steel capacity to 15.9 million tons by March 2025 from 8.6 million tons, the New Delhi-based company said in an investor presentation on Tuesday. The expenditure also includes plans to more than double pellet production capacity to 21 million tons by 2024, it said.

Aviation ministry signs MoU with Adani group for providing airport services

The Civil Aviation Ministry on Wednesday signed a memorandum of understanding (MoU) with the Adani group for providing services, including customs, immigration and security, at the Jaipur, Guwahati and Thiruvananthapuram airports, an official statement said. The Centre had in February 2019 privatised six major airports of the country -- Lucknow, Ahmedabad, Mangaluru, Jaipur, Thiruvananthapuram and Guwahati -- and through a competitive bidding process, the Adani group won the rights to run all of them for 50 years

NCLAT agrees to hear Jet staff's plea against Kalrock-Jalan resolution plan

The National Company Law Appellate Tribunal will hear on October 8 an appeal filed by Jet Airways employees against the Kalrock-Jalan revival plan. Various employee groups have moved the appellate tribunal seeking a stay on the insolvency court order approving the revival plan as it hurt their interests. A division bench of the NCLAT on Wednesday allowed the resolution professional and the committee of creditors two weeks to file their response on the appeals and posted the matter on October 8 for admission. The tribunal was hearing an appeal filed by Association of Aggrieved Workmen of Jet Airways against the plan as it contravenes with the provisions of the Insolvency and Bankruptcy Code. The Bharatiya Kamgar Sena and Jet Airways Cabin Crew Association too have

AirAsia India loss rises 95% to Rs 1,533 cr in FY21; Vistara's loss narrows

AirAsia India’s losses nearly doubled to Rs 1,533 crore on a year-on-year basis in FY21 while those of Vistara narrowed down to Rs 1,612 crore in the same period, according to company filings.

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