Orient Cement's profit rises multi-fold to ₹205 crore in Q1 FY26
Orient Cement Ltd, now part of billionaire Gautam Adani-led Adani Group , on Friday reported a multi-fold jump in its net profit to ₹205.37 crore for the first quarter ended June 2025.The company had posted a net profit of ₹36.71 crore a year ago, according to a regulatory filing by Orient Cement Ltd (OCL), a subsidiary of Ambuja Cements Its revenue from operations surged 24.44 per cent to ₹866.47 crore in the June quarter. It was ₹696.26 crore in the year-ago period.OCL's total expenses grew 12.4 per cent to ₹724.28 crore in the June quarter.Its total income, which includes other income, climbed 23.7 per cent in the June quarter to ₹868.64 crore.After an open offer, the total shareholding of Adani Group increased to 72.66 per cent in the company."Pursuant to the said acquisition, the company has become a subsidiary of Ambuja Cements Limited with effect from June 18, 2025," it said.On October 22, 2024, Adani Group firm Ambuja Cements entered into a share purchase agreement with the promoter group and certain other shareholders to acquire 46.80 per cent of the shareholding of the company.Shares of Orient Cement Ltd on Friday settled at ₹252.90 apiece on BSE, down 1.50 per cent from the previous close.
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The Hindu
14 minutes ago
- The Hindu
Indian economy devastated by five Modi-inflicted shocks: Congress
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Mint
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Time of India
31 minutes ago
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Indian economy devastated by five Modi-inflicted shocks: Congress
The Congress on Friday claimed that the Indian economy has been well and truly devastated by a series of "five Modi-inflicted shocks", and said the government as well as its cheerleaders are being economical with the truth of the real state of the economy. Congress general secretary in-charge communications Jairam Ramesh said the Modi government, its drumbeaters and cheerleaders are living in a make-believe world. The opposition party's assertions came a day after former Congress president and Leader of Opposition in the Lok Sabha Rahul Gandhi said everybody except Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman know that the country's economy is "dead". In a post on X, Ramesh said, "Over the past decade, the Indian economy has been well and truly devastated by a series of five Modi-inflicted shocks. Nobody else can be held responsible." He said demonetisation completely disrupted our growth momentum and destroyed the livelihoods of crores of Indians. Live Events "A fundamentally flawed GST--that is a Tax that is neither Good nor Simple--has wreaked havoc on thousands of business enterprises across the country, except the large companies who can afford to pay the cost associated with GST compliance," Ramesh said. He further claimed that the record imports from China have led to the closure of lakhs of MSMEs across the country--in Gujarat alone, around a third of the MSMEs in the stainless steel industry have shut down their operations. Exports in key areas are dependent on imports of raw materials, components, and intermediates from China, he said. Ramesh pointed out that private investment has lost the buoyancy it demonstrated during 2004-14. "Indian industrialists are acquiring citizenship of other countries in an ever increasing measure. The politically motivated and extortionist Raid Raj, coupled with the proliferation of Modani's tentacles, has led to a loss of confidence in the Indian economy," Ramesh alleged. He argued that wages for the majority of Indians have stagnated in the last decade, across sectors and across classes. "This is particularly so in rural India. Household savings have fallen sharply just as household debt has ballooned. Private mass consumption, one of the key drivers of growth, is sputtering just as luxury consumption has not ebbed, clearly pointing to sharpening economic inequalities ," the Congress leader said. "The Modi government, its drumbeaters and cheerleaders are living in a make-believe world. They are being economical with the truth of the real state of the economy," Ramesh said. On Thursday, Gandhi had alleged that the BJP-led government has destroyed the country's economic, defence and foreign policies, and is "running the country to the ground". Speaking with reporters in the Parliament House complex, Gandhi had also claimed that a trade deal with the US will happen and US President Donald Trump will define it. Asked about Trump calling the Indian economy "dead", the Congress leader had said, "He is right, everybody knows this except the prime minister and the finance minister. Everybody knows that the Indian economy is a dead economy. I am glad that President Trump has stated a fact." He had alleged that the BJP has destroyed the Indian economy.
