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Ratan Tata, Tata Sons welcome SC dismissal of review petition by SP Group

Veteran industrialist Ratan Tata and Tata Sons on Thursday welcomed the Supreme Court's dismissal of a plea of the Shapoorji Pallonji (SP) group seeking a review of the verdict that upheld the Tata group's removal of Cyrus Mistry as Chairman of Tata Sons. Reacting to the development, in a statement Tata, who is the Chairman Emeritus said, "We would like to express our grateful appreciation of the judgement passed and upheld by the Supreme Court today."

Dr Reddy's Labs Q4 PAT falls 76% on pricing pressure, low export benefit

Hyderabad-based Dr Reddy’s Laboratories (DRL) has posted a 76 per cent year-on-year (YoY) dip in profit after tax (PAT) to Rs 88 crore in Q4FY22 driven by pricing pressure in North America and Europe, lower export benefits, and an increase in the inventory provisions. The revenue was up 15 per cent to Rs 5,437 crore for the quarter under review. For the full year, Dr Reddy’s posted a 13 per cent growth in revenues to Rs 21,439 crore, while its net profit was up 37 per cent to Rs 2,357 crore.

APM Terminals Pipavav's Q4 net profit increases 10% to Rs 72 crore

APM Terminals Pipavav (Gujarat Pipavav Port Ltd) on Thursday reported a 10 per cent rise in net profit at Rs 72.4 crore for the quarter ended March 31, 2022. The private port operator had recorded a net profit of Rs 65.4 crore in the corresponding quarter of fiscal year ended March 2021, according to a company statement. Revenue from operations in the quarter under review stood at Rs 220.07 crore, a growth of 13 per cent, over Rs 193.4 crore clocked during the March quarter of FY 2020-21, it said.

Maruti to invest Rs 18k cr in Sonipat plant to roll out 1 milion units/year

Maruti Suzuki India (MSI) on Thursday said its new manufacturing facility in Haryana, the company's third in the state, would reach peak production capacity of 10 lakh units per annum in the next eight years entailing a total investment of Rs 18,000 crore. The new facility, which would come at a 800- acre site at IMT Kharkhoda in Sonipat district, will entail total investment of Rs 11,000 crore in the first phase with a production capacity of 2.5 lakh units per annum.

MakeMyTrip partners with banks, NBFCs for 'book now pay later' option

Online travel firm MakeMyTrip on Thursday said it has partnered with 15 banks, NBFCs and fintech players, including HDFC Bank, IDFC Bank, Capital float and Zest Money, for its 'book now pay later' option while booking flight or hotels. The company's fintech arm TripMoney has established a marketplace attracting 15 banks, NBFCs and fintech players, which also include Kissht, Lazypay and Simpl, among others, to offer easy travel credit to travellers, MakeMyTrip said in a statement.

Solar PV module manufacturer Waaree

Energies bags orders worth $2.37 bn Domestic solar PV module manufacturer Waaree Energies on Thursday said it has secured new orders worth USD 2.37 billion from customers in the domestic and international markets. The orders are for supplying high-efficiency bifacial solar panels of 540Wp (watt peak) and 600Wp, Waaree Energies. These panels will be produced in Waaree's manufacturing facility using M10 and M12 cells.

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