Adjusted Gross Revenue

Omnicom to acquire Interpublic, forming ad giant with $26 bn annual revenue

Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost USD 26 billion. Shareholders of The Interpublic Group of Companies Inc. will receive 0.344 Omnicom shares for each share of Interpublic common stock that they own. Omnicom shareholders will own 60.6 per cent of the combined company and Interpublic shareholders will own 39.4 per cent after the transaction is complete. The combined company will keep the Omnicom name and trade under the OMC ticker symbol on the New York Stock Exchange. The deal is expected to have annual cost savings of USD 750 million. The transaction is targeted to close during the second half of next year. It still needs the approval of Omnicom and Interpublic shareholders. Shares of Interpublic jumped more than 15 per cent before the market open on Monday, while Omnicom's stock fell more than 2 per cent.

iPhone maker Apple sets all-time revenue record in India: CEO Tim Cook

iPhone maker Apple has set an all-time revenue record in India and observed a double-digit growth in iPad sales in the country in the September 2024 quarter, senior officials of the company said on Friday. The company reported an over 6 per cent growth in total net sales to USD 94.93 billion during the reported period from USD 89.49 billion a year ago. "We also set September quarter segment revenue records in the Americas, Europe, and the rest of Asia Pacific, as well as in a large number of countries, including the United States, Brazil, Mexico, France, the UK, Korea, Malaysia, Thailand, Saudi Arabia and the UAE, and we continue to be excited by the enthusiasm we're seeing in India, where we set an all-time revenue record," Apple CEO Tim Cook said during the company's earnings call. Cook said Apple also opened two new stores - one in Mumbai and the other in Delhi - in the country during the quarter. "We can't wait to bring four new stores to customers in India," he said. In early

Microsoft Cloud, Office software boost revenue growth beyond projections

Sales in the first quarter, which ended Sept 30, increased 16% to $65.6 billion

Snap reports strong revenue growth, boosting shares amid ad revamp

"Snap's continued hard work to revamp its ad business to better serve performance-focused advertisers, particularly small and medium-sized businesses, and diversify its revenue streams through

Coca-Cola bets on rising soda demand to forecast surge in its revenue

Its average selling prices rose 10 per cent in the third quarter, while unit case volumes 1 per cent

Alok Industries Q2: Loss widens to Rs 262 cr; revenue dips to Rs 885.6 cr

Textile manufacturer Alok Industries on Monday said its consolidated net loss widened to Rs 262.10 crore for the second quarter ended September 2024. The company had posted a net loss of Rs 174.83 crore in the July-September period a year ago, according to a regulatory filing from Alok Industries, jointly owned by Reliance Industries and JM Financial Asset Reconstruction. Its revenue from operation fell 35.46 per cent to Rs 885.66 crore during the period under review. It was Rs 1,372.34 crore in the corresponding period a year ago. The total expenses in the September quarter declined 25.45 per cent to Rs 1,160.63 Alok Industries' total income, including other income, was down 34.97 per cent to Rs 898.78 crore in the September quarter. Reliance Industries owns a 40.01 per cent stake and 34.99 per cent by JM Financial Asset Reconstruction Company in Alok Industries, which operates in-home textiles, cotton yarn, apparel fabric, garments, and polyester yarn. Shares of Alok Industrie

Vodafone Idea stock at Rs 2.5 or Rs 15? Analysts divided after AGR order

Vodafone Idea share price target: The lowest price target has been given by Goldman Sachs, with a 'Sell' rating, as it sees no government support/relief in AGR liabilities

Vodafone Idea shares tank 20%, Indus Towers 14% after SC rejects AGR plea

Vodafone Idea share price plunged 10 per cent to Rs 11.61 per share on the National Stock Exchange (NSE) on Thursday

Supreme Court agrees to listen to Vodafone Idea's plea on AGR computation

The Supreme Court on Monday took note of a telecom firm's submission that its plea seeking correction of alleged errors in Adjusted Gross Revenue (AGR) related dues be listed for consideration. A bench comprising Chief Justice of India D Y Chandrachud, Justice J B Pardiwala and Justice Manoj Misra was urged by senior advocate Harish Salve, appearing for Vodafone Idea, that the petition needed consideration. The curative petition against the dismissal of earlier pleas seeking correction of alleged errors in AGR-related dues is yet to be listed before a bench, the telecom firm said. "I will see," the CJI said and asked whether an email has been sent in this regard. On October 9 last year, the top court had taken note of submissions of some telecommunication companies seeking listing of their pleas on AGR due issue. The telcos had referred to alleged errors in the arithmetic calculation for arriving at the AGR-related dues by the Department of Telecommunications (DoT). In July 2021,

ONGC seeks technical help to raise oil, gas output at Mumbai High field

State-owned Oil and Natural Gas Corporation (ONGC) is seeking help from an internationally-proven technical service provider to raise oil and gas production from its flagship but old and maturing Mumbai field in the Arabian Sea. The firm has floated an international tender to identify the service provider who will help raise production from the field, ONGC said in a post on X. "The giant multi-layered Mumbai High field, which commenced production 48 years ago in 1976, is currently in its mature stage of production and ONGC has implemented a number of schemes in this field to improve production," it said. "As a custodian and operator of Mumbai High field, ONGC is keen to collaborate with a global technical service provider. The service provider would be contracted for 10 years, extendable by another five years." Mumbai High field lies 160 kilometres off the coast of Mumbai and produces about 38 per cent of India's oil production. While it hit a peak output of 40,000 barrels per day

Govt's telecom revenue for FY24 expected to miss target by Rs 10,000 cr

Under the 2022 revival package totalling Rs 1.64 trillion and the Rs 89,047 crore allocation in 2023, the government is set to provide spectrum and settle adjusted gross revenue (AGR) dues for BSNL

EV-led delivery service firm Zypp Electric posts 3x revenue growth in FY24

Zypp Electric is now operationally profitable, the company claimed

Zoomcar Q3 results: Revenue slips 19% to $2.4 mn, bottomline improves

The firm said that net revenue declined due to lower number of days booked, resulting in decreased gross billings as Zoomcar prioritised higher-margin bookings in support of its cost reduction efforts

Vodafone Idea files plea in Supreme Court seeking correction of AGR dues

When the CJI asked Salve how long the arguments would take, he said it would only take a day

At Rs 11.8 trn, India's gross tax revenue up by 16% in 5 months of FY24

August tax mop-up gives boost to govt finances

Telecom services' AGR up sequentially to Rs 64,494 cr in March qtr: TRAI

Telecom service sector's adjusted gross revenue rose 2.5 per cent sequentially to Rs 64,494 crore in March 2023 quarter, according to data released by sector regulator TRAI on Monday. Seen year-on-year, the adjusted gross revenue increased 9.5 per cent over the corresponding period of the previous year. Another notable takeaway from the TRAI report was around the metrics of monthly Average Revenue Per User or ARPU, which showed a sequential decline in the case of postpaid, and a quarter-on-quarter rise for the prepaid category. Overall, the monthly ARPU for wireless service increased a tad 0.83 per cent. The gross revenue (GR), Applicable Gross Revenue (ApGR) and Adjusted Gross Revenue (AGR) of the Telecom Service Sector for the quarter ended March 2023 was pegged at Rs 85,356 crore, Rs 78,631 crore and Rs 64,494 crore, respectively. While the GR decreased by 3.19 per cent, ApGR increased by 2.62 per cent and AGR increased by 2.53 per cent in March 2023 quarter, as compared to the

FinMin okays converting Vodafone Idea's Rs 16,100 cr dues to govt equity

The government of India will own nearly 33% of Vodafone Idea's equity, and become the single-largest shareholder if the deal goes through

Tata Sons pegs AGR liabilities of two telecom firms at Rs 19,638 cr

Tata Teleservices, one of the first to start wireless telephony services in India, becomes cash burner for group

Hindustan Zinc net profit rises 56% in Q1 to Rs 3,092 cr; revenue jumps 45%

Hindustan Zinc Ltd (HZL) on Thursday reported a 55.9 per cent rise in consolidated net profit at Rs 3,092 in the June quarter, mainly on the back of higher metal prices. The company had posted consolidated net profit of Rs 1,983 crore in the first quarter of the previous fiscal, it said in a filing to BSE. The consolidated revenue from operations in the April-June preriod increased by 44.8 per cent to Rs 9,236 crore, over Rs 6,378 crore in the year-ago period, the filing said. "Net profit for the quarter was at Rs 3,092 crore, up 55.9 per cent Y-o-Y and 5.6 per cent sequentially," the company said in a statement. HZL's board has given the approval for forming a wholly-owned arm to set up a five lakh tonnes per annum fertiliser plant. "Hindustan Zinc delivered best first-quarter production for mined metal, refined metal and silver. With the exit run-rate for both mined and refined metal crossing over one million tonnes, we are fully geared to deliver another stellar performance th

Vodafone Idea to take 4-year reprieve on Rs 8,837-crore AGR dues

Has option to convert interest on deferred amount into additional equity to govt