Income

Indian fear that food prices, utilities, household shopping, fuel, and going out are all likely to become more expensive next year: Ipsos Cost of Living report

Kolkata is estimated to be the most affordable city, while Mumbai may reach near-optimal affordability levels in 2025

KP Energy on Wednesday reported a three-fold rise in consolidated net profit to Rs 24.93 crore on the back of higher income. It had posted Rs 8.18 crore net profit for the period ended September 2023, the company said in an exchange filing. Its total income jumped to Rs 201.99 crore from Rs 71.48 crore in the July-September period of the preceding 2023-24 fiscal. The company's expenses increased to Rs 169.15 crore against Rs 59.41 crore a year ago.

Despite the dip in income, the total assets held by Maharashtra CM Eknath Shinde and his wife experienced substantial growth, rising from Rs 11.56 crore in 2019 to Rs 37.68 crore in 2023-24

India will witness the steepest rise in living standards of the common man on the back of the government's initiatives and the efforts towards doubling per capita income in few years, Finance Minister Nirmala Sitharaman said on Friday. Addressing the 3rd edition of the Kautilya Economic Conclave, the minister stressed that inequality in India has declined with the Gini coefficient, a statistical tool to measure inequity, showing improvement in urban as well as rural areas. "I expect these improvements to continue as the effects of the last ten years of economic and structural reforms manifest more thoroughly in the data in the coming years as the Covid shock fades from the economy," Sitharaman said. The upcoming decades, the minister said, "will see the steepest rise in living standards for the common man, truly making it a period-defining era for an Indian to live in". "While it took us 75 years to reach a per capita income of USD 2,730, as per IMF projections, it will take only f

This is despite an increase in properties registered under the Waqf

Bayer CropScience Ltd on Thursday reported a 23 per cent decline in its net profit to Rs 254.2 crore in the first quarter of this fiscal. Its net profit stood at Rs 328.5 crore in the corresponding period of the previous year. The company's total income fell to Rs 1,658.7 crore in the April-June period of this fiscal from Rs 1,760.3 crore in the year-ago period, according to a regulatory filing.

Global prospects have worsened in recent years

Central bank's contingency risk buffer at 6.5% of balance sheet, says annual report

Usha Martin on Friday reported a marginal 1 per cent rise in consolidated profit after tax (PAT) to Rs 106.33 crore for the March quarter of FY24. The company had posted a PAT of Rs 105.32 crore in the year-ago period, Usha Martin said in a filing to the BSE. The consolidated income in the January-March period declined to Rs 838.5 crore from Rs 866.5 crore in the year-ago period. Commenting on the performance, Usha Martin Non-Executive Director Tapas Gangopadhyay said, "We have concluded the financial year 2023-24 on a positive note with our robust operating cash flows, reflecting strong performance." Despite facing macro-economic challenges, the company managed to generate an 18.6 per cent EBITDA margin during the year, he said. "Notably, our core wire ropes division continued to perform well and contributed 71 per cent to our overall consolidated revenues," Gangopadhyay added. Usha Martin is a leading specialty steel wire rope solutions provider.

The number of people earning above Rs 1 crore annually has risen to over 2.16 lakh as on December 31, 2023, for Assessment Year 2023-24, Parliament was informed on Tuesday. Minister of State for Finance Pankaj Chaudhary gave assessment year-wise details of the number of individuals submitting ITR with income of more than Rs 1 crore. The number has increased from over 1.09 lakh in AY 2019-20 to about 1.87 lakh in AY 2022-23. The number of ITRs filed till December 31, 2023, with income over Rs 1 crore for AY 2023-24 has risen to 2.16 lakh. Chaudhary further said the total number of individuals who reported income from 'Profession' in AY 2023-24 is 12,218, up from 10,528 reported in AY 2022-23. In 2019-20, the number of people reporting income from 'profession' was 6,555. In reply to a separate question, Finance Minister Nirmala Sitharaman said direct tax collection (for the financial year 2023-24 up to January 31, 2024), personal income tax has grown at a rate of 27.6 per cent ...

Mobility tech firm Sona BLW Precision Forgings (Sona Comstar) on Tuesday reported a 24 per cent year-on-year growth in consolidated profit after tax at Rs 133 crore in the three months ended December 2023. The company had recorded a consolidated profit after tax of Rs 107.10 crore in the December quarter of FY23, it said. Total income in the third quarter of the current fiscal was Rs 777 crore as against Rs 685 crore reported in the year-ago period, a growth of 13 per cent, according to the company. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) for Q3FY24 stood at Rs 227.3 crore, a growth of 22 per cent compared to Rs 186.2 crore in the same quarter last fiscal, it said. The company also said that with five new BEV (Battery Electric Vehicle) programme wins, the net order book has increased to the highest ever level of Rs 24,000 crore. "We delivered our highest quarterly EBITDA, net profit, BEV revenue, BEV revenue share and order book in Q3 FY24. "Our BE

The investment income rose by 130.7 per cent Y-o-Y to Rs 11,372 crore, from Rs 4,929.8 crore a year ago

HDFC Asset Management Company Ltd (HDFC AMC) on Thursday reported a 32 per cent year-on-year jump in profit after tax (PAT) at Rs 488 crore for the three months ended December 2023. In comparison, the company had posted a PAT of Rs 369.16 crore in the year-ago period, HDFC AMC said in a regulatory filing. The company's total income surged 23 per cent year-on-year to Rs 814.17 crore in the October-December quarter of the current fiscal (FY24), from Rs 663 crore in the year-ago period. During the period ended December 31, 2023, the asset management firm paid a final dividend of Rs 48 per equity share (face value of Rs 5 each) for the year ended March 31, 2023. For the nine months ended December 31, 2023, the company clocked a PAT of Rs 1,402 crore and total income of Rs 2,312.14 crore. HDFC AMC is an investment manager for HDFC Mutual Fund, one of the largest mutual funds in the country. Shares of HDFC AMC were trading 2.30 per cent higher at Rs 3,496.25 on the BSE.

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The country's rural demand is vulnerable and could be further impacted by the "dual blows" of lower income and high food inflation due to an erratic monsoon, according to a domestic rating agency. The upcoming festivities may lead to a rise in consumption demand but such an increase will depend on the extent of the skewed monsoon impact, CareEdge Ratings said in a report released on Tuesday. Consumption, including rural demand, is considered an important factor influencing the overall GDP growth in the country. Some FMCG players have already flagged concerns on the rural demand front. "Rural demand remains vulnerable and can be hit by a dual blow of higher food inflation and lower income," the rating agency said. It said the risk to farm income remains high as uneven distribution of monsoon has affected the sowing of certain crops and can adversely affect yields. The cost of living is also rising due to high food inflation and expected hit to agriculture due to an erratic monsoon,

The report also mentions that the food delivery platforms have helped create jobs for young workers in Tier-II and Tier-III cities

Home Credit India, which is a part of global consumer finance provider Home Credit Group, has said that sentiments of the low income population in urban and semi-urban spaces are quite buoyant about the country's economy. The company in its annual consumer survey 'The Indian Wallet Study 2023' found that with the economy growing, income levels have increased for 52 per cent of the low-income consumers last year. A total 76 per cent are expecting their incomes to rise in the coming year. This has made the low income population buoyant about the country's economy. However, despite the increase in their income the consumers are highly cautious when it comes to non-essential spending, the study said. The aim of the study is to understand the financial habits and sentiments of the consumers in the low-income strata within the urban and semi-urban areas. The study was made from a randomised survey of around 2200 respondents who are in the age group of 18 to 55 years with an annual incom

During the last financial year, the company's income dipped by around 12 per cent to Rs 8,215 crore from Rs 9,377 crore in 2021-22