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Indian telecom infrastructure provider Indus Towers saw a 10% increase in its share price after it reported a Q4 net profit of INR 1,399 crore ($185m), representing a 23% YoY decline. The company made an additional provision of INR 43.4 crore towards doubtful debt in the quarter, with industry executives estimating that Vodafone Idea, the company’s biggest customer, owes Indus around INR 7,000 crore. This has led to a wavering outlook regarding Indus’ future success, with some experts suggesting a neutral or reduced rating.

Indian telecom infrastructure provider Indus Towers saw a 10% increase in its share price after it reported a Q4 net profit of INR 1,399 crore ($185m), representing a 23% YoY decline. The company made an additional provision of INR 43.4 crore towards doubtful debt in the quarter, with industry executives estimating that Vodafone Idea, the company’s biggest customer, owes Indus around INR 7,000 crore. This has led to a wavering outlook regarding Indus’ future success, with some experts suggesting a neutral or reduced rating.

​FMCG major Hindustan Unilever (HUL) on Thursday reported a 9.66% on-year jump in its March quarter profit at Rs 2,552 crore.

​FMCG major Hindustan Unilever (HUL) on Thursday reported a 9.66% on-year jump in its March quarter profit at Rs 2,552 crore.

Financial markets regulator Securities and Exchange Board of India (SEBI) has banned three individuals and two entities (in total five) from securities markets in a case of front-running trades in Life Insurance Corporation of India.

Financial markets regulator Securities and Exchange Board of India (SEBI) has banned three individuals and two entities (in total five) from securities markets in a case of front-running trades in Life Insurance Corporation of India.

Multi-channel auto platform CarTrade Tech reported a consolidated net profit of INR17.49 crore ($2.3m) for Q4 FY23. This compares with a net loss of INR21.39 crore in the same period a year ago. Its revenue surged 19% YoY to INR116.6 crore due to organic growth from its brand, CarWale, which has over 34 million average monthly unique visitors. Its adjusted EBITDA for the year ended March 31, 2023, stood at INR124.92 crore, while adjusted PAT for the same period was INR80 crore.

Multi-channel auto platform CarTrade Tech reported a consolidated net profit of INR17.49 crore ($2.3m) for Q4 FY23. This compares with a net loss of INR21.39 crore in the same period a year ago. Its revenue surged 19% YoY to INR116.6 crore due to organic growth from its brand, CarWale, which has over 34 million average monthly unique visitors. Its adjusted EBITDA for the year ended March 31, 2023, stood at INR124.92 crore, while adjusted PAT for the same period was INR80 crore.

Support may not last long as business fundamentals — revenue and profit outlook — take rightful precedence, eliminating short-term impact of the buyback announcement at a premium

Support may not last long as business fundamentals — revenue and profit outlook — take rightful precedence, eliminating short-term impact of the buyback announcement at a premium