India's IndiGo airline posts 62% jump in fourth-quarter profit
May 21 (Reuters) - India's IndiGo airline operator Interglobe Aviation (INGL.NS), opens new tab reported a 62% jump in its fourth-quarter profit on Wednesday, helped by steady demand for domestic air travel.
The country's biggest airline by market share clocked a profit of 30.73 billion rupees ($359 million) for the three months to March 31, from 18.94 billion rupees a year ago.
($1 = 85.5170 Indian rupees)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
4 hours ago
- Reuters
Indonesia vows to provide US tariff preferences before June talks
JAKARTA, June 3 (Reuters) - Indonesia has committed to provide a list of preferred tariffs on U.S. goods before starting a second round of talks with Washington scheduled this month, its senior economy minister said on Wednesday after meeting the U.S. trade envoy. The U.S. was Indonesia's third-biggest export destination as of last year, receiving shipments worth $26.3 billion, according to Indonesian government data. The Southeast Asian country booked a $16.8 billion trade surplus with the U.S. in 2024. Economy Minister Airlangga Hartarto said Indonesia is ready to accelerate negotiations with the U.S. before the July 3 deadline for reciprocal tariffs set by President Donald Trump in his drive to end U.S. trade deficits with countries worldwide. The Trump administration has imposed a 32% tariff on Indonesian goods but that has been paused until July along with those targeting other countries. "We are ready to continue open dialogue and overcome negotiation challenges in tariffs and non-tariff barriers, digital trade... and the issues of economic and national security," Airlangga said in a statement. Reuters was seeking U.S. comment. Airlangga, who met U.S. Trade Representative Jamieson Greer on the sidelines of an OECD meeting in Paris, said Indonesia hopes that a "mature and measured" approach can open space for it to build a strong and long-term partnership with the U.S. As part of the negotiation, the government has said it wants to increase U.S. energy imports by about $10 billion, including purchases of U.S. fuel, crude oil and liquefied petroleum gas. Indonesia received shipments of U.S. goods worth $26.3 billion in 2024, according to government data. The main Indonesian exports to the U.S. include electronics, apparel and clothing, and footwear.
Reuters
5 hours ago
- Reuters
China's Liulin Senze Coal & Aluminum to produce alumina from low-grade ore
June 3 (Reuters) - Chinese company Liulin Senze Coal & Aluminum will start producing alumina from low-grade bauxite at its factory in Shanxi province in July thanks to a new technology developed in France, the technology's developer said. Although China has domestic bauxite reserves, much of it is of low quality, making the country reliant on bauxite imports to meet demand for alumina production — a key input for aluminium, of which China is the world's largest producer. The process developed by French green tech company IB2 enables the conversion of low-grade bauxite into high-quality alumina by neutralizing impurities such as silica and sulphur, IB2's CEO Romain Girbal said in an interview with Reuters. "The (Shanxi) plant is expected to process up to 50,000 metric tons per month by December and IB2 aims to scale it up to 3 million tons of bauxite per year within the next two years," he said. IB2's technology is being used under a 22-year deal signed in 2023 with privately owned Liulin Senze Coal & Aluminum, he said. Liulin Senze Coal & Aluminum did not respond to requests for comment. Girbal said IB2 is in advanced discussions with five other Chinese producers about providing the technology. While such technology could help reduce China's reliance on imported bauxite for alumina production, the scale of production that can be achieved long term using the technology remains to be seen. There are supply concerns in the global bauxite market after Guinea's military government recently cancelled 129 mineral exploration permits, some linked to bauxite. Imported bauxite accounts for more than 70% annually of China's needs, most of it from Guinea and Australia, and Chinese bauxite imports rose 12.4% year-on-year in 2024 to 158.77 million tons, according to customs data. China produced nearly 60% of the world's primary aluminium output last year, which totalled 72 million tonnes, according to the International Aluminium Institute.
Reuters
5 hours ago
- Reuters
Stada in talks with two private equity groups over sale, Welt reports
BERLIN, June 3 (Reuters) - German pharmaceutical firm Stada is in talks with two private equity investors about a sale, Germany's Welt newspaper reported on Tuesday. Its owners Bain Capital and Cinven could seek an initial public offering in October if talks on a sale do not come to fruition, the report cited an unnamed source as saying.
