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The losses of health insurance business of PSU insurers either wiped out or decreased profits of other lines of business or increased the overall losses, the audit report on third-party administrators (TPAs) in the health insurance business of public sector insurance companies noted.

SCI said the company has assessed the current scenario and based on internal and external information available, it believes that there is no COVID-19 impact in the first quarter of 2022-23, hence there is no impact on its ability to continue operations and meet its financial commitments.

HT Media Chairperson and Editorial Director Shobhana Bhartia said the first quarter of FY 2022-23 began on a positive note with a strong performance in the previous fiscal year, with overall business performance and the larger economic and business environment seeing considerable improvement, especially in the latter half of the fiscal.

"Q1FY23 has been yet another strong quarter with highest Q1 revenue and profitability in last 10 years," said an earning statement from Raymond. During the quarter, it capitalised on market buoyancy and strong wedding demand, supported by expansive distribution helped propel sales.

"The growth was primarily driven by economic recovery from the adverse impact of the pandemic and through continuous support from the government to ease inflationary pressure. The other challenges include shortage of semiconductors, upward movement in commodity prices and ongoing global geopolitical tensions," said Ashok Minda, Chairman and Group CEO.

Other terms of reference of the committee include review investment avenues available for FPIs and advise on feasibility of new investment avenues. The panel will be required to recommend measures for simplification of FPI regulations and to advise on custodian-related matters pertaining to such foreign investors.

Bank managing director Soma Sankara Prasad said the management does not expect more provisioning requirements in the September quarter against treasury operations as bond yields are likely to stay at the current levels or may come down with the Reserve Bank of India frontloading repo rate cuts.

Metaverse as technology can revolutionise the education and training sector. A recent research by the University of Maryland revealed that students can retain more information when it is presented in Virtual Reality (VR) rather than on a static computer screen.

Revenue from operations declined to Rs 593 crore in the quarter from Rs 749 crore in the year-ago period.The drug firm said exceptional items for June quarter comprised Rs 130 crore on account of a voluntary retirement scheme and Rs 6 crore for restructuring to drive business transformation.

"Gold prices traded below USD 1,790 (per ounce) still heading for positive week ending on economic slowdown worries and risk premium over China - Taiwan tension," Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said.