Tag: Industry

Jun 2

Jio, VIL pitch for Satcom spectrum allocation through auction; Airtel opposes

While the satellite industry has unanimously demanded spectrum allocation through administrative methods, major telecom firms Reliance Jio, Vodafone Idea, and Bharti Airtel offered divergent views to sector regulator Trai. The comments on a consultation paper on spectrum assignment for space-based communication by the Telecom Regulatory Authority of India were made public on Friday. Reliance Jio […]
Jun 2

RBI imposes Rs 2.2-crore penalty on Indian Overseas Bank 

Reserve Bank on Friday imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance. The fine is imposed for contravention of the provisions of certain directions issued by RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to […]
May 29

IRCTC posts profit jump of 30.4% for Q4FY23 at Rs 278.80 crore, announces 100% final dividend

Indian Railway Catering and Tourism Corporation (IRCTC) on Monday posted a fiscal fourth quarter profit at Rs 278.80 crore, up 30.4 per cent in comparison to Rs 213.78 crore in the corresponding quarter of previous year. It posted revenue from operations at Rs 965.02 crore, up 39.7 per cent as against Rs 690.96 crore in […]
May 26

BHEL reports 34.2% fall in profit as higher material costs weigh

India’s state-owned Bharat Heavy Electricals Ltd reported a 34.2% fall in quarterly profit on Friday, hurt by a rise in total expenses despite the surging power demand in the country. Standalone net profit fell to 5.98 billion Indian rupees ($72.4 million) for the fourth quarter ended Mar. 31, from 9.09 billion rupees a year earlier, […]