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High frequency indicators, like vehicles sales, air traffic, steel consumption and GST E-way bills, point towards a sequential pickup in momentum of economic activity during the second half of the fiscal 2024-25 and sustain moving forward, RBI Bulletin said on Wednesday. However, a strong dollar, driven by US economic resilience and trade policy pivots, could exacerbate capital outflows from emerging economies, push risk premiums higher, and intensify external vulnerabilities, said an article on 'State of the Economy' published in RBI's February bulletin. Economic activity momentum is poised to be sustained, strong rural demand is expected to receive a further fillip from the robust performance of the agriculture sector. Urban demand is also poised for a recovery, tracking decline in inflation as well as a boost to disposable incomes from the sizeable income tax relief announced in the Union Budget 2025-26. "...high frequency indicators point towards a sequential pick-up in momentum
DEE Development Engineers, a piping solutions provider, expects its revenue to triple to around Rs 2,400 crore in the next three to five years as it embarks on its next phase of growth, the company's Chairman and Managing Director (CMD) Krishan Lalit Bansal said. The company, which reported a revenue of Rs 785 crore in 2023-24, is expecting higher revenue in the current financial year, Bansal said during an interaction here. DEE Development Engineers has launched its new facility in Anjar with an investment of Rs 250 crore. The facility, with an initial capacity of 12,000 tonnes per annum, is expected to be ramped to 27,000 tonnes per annum by September this year. The company also plans to come up with a Rs 90-crore seamless pipe manufacturing facility in Anjar by December this year, Bansal added. This unit will have an annual production capacity of 7,000 metric tonnes. "We are putting up a specialised forged seamless pipe plant also. The pipes produced out of that shall primarily
The upcoming annual budget for FY26 could announce further measures to boost employment generation, CII said on Sunday, emphasising that job creation at a mass scale is important to engage the young population productively, and drive inclusive growth in the world's most populous nation. The industry body has suggested a seven-point agenda to harness India's demographic dividend, including an integrated national employment policy, support to labour-intensive sectors, and setting up an international mobility authority, among other targeted measures. With a median age of just 29 years, India is a young country, and is set to add 133 million people to its working-age population by 2050. The government could consider launching an internship programme in government offices in rural areas for the college-educated youth, CII said. It argued that this initiative would create short-term employment opportunities in government offices while bridging the gap between education and professional .
The profitability of small finance banks, measured in terms of return of assets (RoA), will moderate around 40 basis points to about 1.7 per cent this fiscal from 2.1 per cent in last financial year due to lower net interest margins (NIM) and higher credit costs, said a report. That said, RoA for small finance banks (SFBs) will still be higher than that for the overall banking system by 50-60 bps on account of the relatively higher yielding nature of their loan book, Crisil said in the report. Last month, Reserve Bank Deputy Governor Swaminathan J had asked SFBs to be vigilant and ensure that risks are mitigated in time. He also highlighted the importance of sustainable business models. He underscored the need to strengthen cybersecurity to safeguard against digital threats. The report said NIM for SFBs is expected to contract 15 bps as they continue diversifying to secured asset classes, which have relatively lower yields. Credit cost, meanwhile, may rise to about 40 bps because
Telecom gear maker GX Group expects its revenue to grow by 66 per cent to Rs 500 crore by financial year 2026, on account of growth in domestic business as well as exports, a top company official has said. The company makes Gigabit Passive Optical Network (GPON) gears that are required to run fibre-based broadband networks. GX Group also makes routers and switches as well as Internet of Things (IoT) devices in India. GX Group CEO Paritosh Prajapati told PTI that the company is looking to expand its manufacturing unit in India with an investment of Rs 100 crore in the current financial year. According to him, benefits from the telecom production-linked incentive (PLI) scheme are one of the key growth drivers for the company. "We have achieved a 40 per cent year-on-year (YoY) growth in consecutive years, supporting us to grow from a Rs 300 crore to a Rs 500 crore company within the next two financial years. "We are planning to build India as our Global hub, therefore, we are ...
The country's airport industry is projected to report a profit before tax of USD 1.3 billion in the current financial year. The profit is anticipated to be Rs 256.1 (USD 3.1) per passenger in the fiscal ending March 2025, aviation advisory firm CAPA India said while giving projections at its aviation summit in the national capital on Friday. In the current fiscal, passenger throughput at Indian airports is estimated to rise to 404.9 million. Out of the total, 81.1 per cent will be domestic and 18.9 per cent will be international traffic, it said. As per the report, the Airport Authority of India's (AAI) profitability is likely to remain robust in FY2024 and FY2025. "The topline will grow due to an increase in aeronautical revenue along with the receipt of revenue share from the recently privatised six non-metro airports, without having to incur any expense associated with it - resulting in higher profitability," it added. The industry's profit before tax is expected to be USD 1.3
ReNew Energy Global Plc on Thursday said its net profit jumped seven-fold to USD 7 million in the January-March quarter of FY24 due to higher income and reduced expenses. The total revenue for the latest fourth quarter decreased by 4.4 per cent to USD 297 million, down from USD 311 million in the same period in the preceding fiscal, according to a company statement. The company attributed the fall in revenue to lower earnings from its transmission projects. The company's net profit for the entire financial year stood at USD 50 million, compared to a net loss of USD 60 million in FY23. The clean energy major registered an 8.1 per cent jump in its total revenue to USD 1,158 million in FY24 from USD 1,072 million in FY23. The company said that the record profits were registered despite a marginal fall in the weighted average Plant Load Factor (PLF) for the reporting quarter as well as the financial year due to lower radiation and wind speeds. While the PLF for FY24 was 26.4 per cent