Whirlpool of India consolidated net profit rises 1.33% in the June 2025 quarter
Net profit of Whirlpool of India rose 1.33% to Rs 145.73 crore in the quarter ended June 2025 as against Rs 143.82 crore during the previous quarter ended June 2024. Sales declined 2.58% to Rs 2432.32 crore in the quarter ended June 2025 as against Rs 2496.86 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 2432.322496.86 -3 OPM % 8.688.45 - PBDT 249.99252.10 -1 PBT 196.44195.91 0 NP 145.73143.82 1
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Economic Times
9 minutes ago
- Economic Times
Tata Trusts put faith in N Chandrasekaran for another term to sustain growth
N Chandrasekaran has proved he has the calibre and excellent track record of delivering results. His leadership will ensure stability and growth Mumbai: Tata Trusts approved another five-year extension for N Chandrasekaran as chairman of Tata Sons in a unanimous decision, reinforcing leadership continuity at the group. The resolution, passed by all trustees of the key holding entities - Sir Ratan Tata Trust and Sir Dorabji Tata Trust - comes amid strategic deliberations to retain Tata Sons' status as a private entity and initiate discussions with Shapoorji Pallonji (SP) Group for a possible exit. The Tata Trusts resolution is expected to be endorsed by the Tata Sons board in due move reflects the Trusts' intent to maintain stability while navigating complex structural and shareholder transitions within the group. The Trusts own a controlling 66% in Tata Sons, group holding company. Stellar Performance An official close to the matter said the group's new businesses have a gestation period of at least five to seven years, with significant capital having been committed to them. 'Chandrasekaran has proved he has the calibre and an excellent track record of delivering results,' the person said. 'His leadership will ensure stability and growth.' The resolution was passed after discussions over the current performance and future plans of Tata group companies, people in the know said. 'The trustees are highly satisfied with the leadership and group growth demonstrated by Chandrasekaran in recent years,' said another highly placed official familiar with the matter. 'Chandrasekaran's experience and leadership abilities will help steer it through the critical phase of consolidating investments in new businesses and scaling them up. His steady hand will also be crucial in ensuring Tata Sons remains a privately held company, as envisioned by the Trusts.' Tata Sons and Tata Trusts did not comment. Among the challenges ahead is keeping Tata Sons unlisted, as sought by the Tata Trusts. Also, the chairman has to consider ways of giving minority investor SP Group an exit. The latter owns 18.37% of the unlisted holding Sons was classified as an Upper Layer NBFC (NBFC-UL) in September 2022, requiring it to list by September 2025. The company has, since, applied to RBI for deregistration and exemption from listing. It will also have to steer clear of taking on any debt in its balance was granted a second five-year term in February 2022. A TCS veteran, he joined the board of Tata Sons in October 2016 and was appointed chairman in January him at the helm, the group nearly doubled revenue and more than tripled net profit and market cap over the past five years, during which it spent Rs 5.5 lakh crore. The group's revenue from all listed and unlisted entities was Rs 15.34 lakh crore in FY25, with net profit at Rs 1.13 lakh crore and market cap at Rs 37.84 lakh crore.'Unlike typical stock market-driven companies, large multi-generational family-owned businesses across the globe don't have leadership only for few years but for a sufficiently long period so the leader can shape the generational evolution, and until the person has the trust of the owners and is capable of effectively leading the business, for which Chandrasekaran is a perfect fit,' said Sougata Ray, executive director of the Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB).
Time of India
9 minutes ago
- Time of India
Subsidy on small-value UPI payments cut, banks look for ways to offset cost
If India's 'free UPI' policy was already pinching banks, the government's latest move has turned the screw further. A fresh cut in incentives for small-value digital payments is prompting banks to quietly shift part of the cost to their partners and customers. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A cut in the government incentive on small-value Unified Payments Interface-based transactions is pushing banks towards levying charges on certain UPI transactions, according to two bankers in the finance ministry reduced the incentive for processing small-value UPI payments at small merchant outlets to 0.15% per transaction from 0.25% last year. The incentive is paid with a lag of 12-18 months, hence the calculation will be based on digital transactions processed in the financial year banks, this reduction is a double whammy of sorts, as it comes on top of the withdrawal of all forms of incentives offered against RuPay debit cards and UPI payments made at large merchant a letter dated March 24 to banks, the finance ministry said it made the decision in consultation with the National Payments Corporation of India, which manages the UPI platform. ET has seen a copy of the finance ministry and NPCI did not respond to emailed questions until press time per regulatory definitions, a small merchant is one with a turnover of less than Rs 20 lakh in the previous fiscal government had introduced the incentive to compensate banks for providing UPI services for free. The decision to cut the subsidy reflects a drastic reduction in the budgetary allocation for digital payments incentive to Rs 1,500 crore in fiscal 2025 from Rs 3,500 crore paid out last year. Bankers said with no government support, they may have to find ways to offset the cost of providing the service.'After the government withdrew the incentive pay-out on a large part of the payments market, now 10 basis points have been reduced on small-value payments as well. Banks will be forced to pass on some of the charges to their payment aggregating partners,' said a senior banker with a private sector bank. The payment aggregators could be passing on these charges to some of the large merchants. ICICI Bank has started passing on some of the charges to its payment partners, news platform the Head and Tale reported on the year prior, the government ran a more elaborate incentive scheme for the digital payments industry, offering 0.25% for payments up to Rs 2,000 across all forms of merchants for UPI and RuPay debit card transactions. Transactions made at government websites for financial service payments like insurance and mutual funds attracted a lower incentive of 0.15% incentive. All those incentives stand withdrawn this ministry's letter to banks said the Department of Financial Services, in consultation with the NPCI and the financial advisor to the government, might revise the charges from time to week, while speaking at an event in Mumbai, Reserve Bank of India governor Sanjay Malhotra spoke about the need to make UPI payments sustainable and mentioned that either the government or the users would have to bear the price of running the payment the digital payments industry has also been pushing the government to bring back the merchant discount rate on UPI payments, the government has said that UPI would continue to operate for to RBI data, the UPI platform had recorded 18.4 billion transactions in June, while RuPay debit card transactions at point-of-sales terminals and ecommerce platforms had totalled 78 million.
Indian Express
9 minutes ago
- Indian Express
Armed with BrahMos, GRSE delivers ‘Himgiri' warship to Indian Navy
The Garden Reach Shipbuilders and Engineers (GRSE) Limited, on July 31, delivered a new warship named Himgiri to the Indian navy, according to an official statement. The ship is the first of three advanced frigates being made by GRSE under Project 17A. According to the statement, Himgiri is the 801st ship made by GRSE, which is 149 meters long and weighing about 6,760 tonnes, it is the largest and the most modern warship made by the GRSE. Out of the 801 ships, 112 are warships, the highest number made by any shipyard in India. The total cost of the three warships under Project 17A is over Rs 21,833 crore, the statement said. It added that the project is also helping the Indian economy. A relevant portion of its value has fuelled MSMEs, start-ups, and OEMs in building the ship. Rear Admiral Ravnish Seth, a Chief Staff Officer (Technical), Eastern Naval Command, accepted the ship on behalf of the Indian Navy. First launched on 14 December 2020, it is equipped with weapons like the BrahMos and Barak 8 missiles, said that statement. It is also equipped with the AESA radar system and other advanced systems to detect and fight threats from the air, sea and underwater. Using diesel engines and gas turbines for power, it is built to survive battle situations. (Anisha Ghosh is an intern at the Kolkata office of The Indian Express)
