Latest news with #250
Business Standard
3 days ago
- Business
- Business Standard
Board of Equitas Small Finance Bank approves QIP issue of Rs 1250 cr
At meeting held on 30 May 2025The Board of Equitas Small Finance Bank at its meeting held on 30 May 2025 has approved raising of funds by way of issuance of such number of equity shares or any other eligible securities and / or other securities convertible into equity shares including warrants, or otherwise (collectively Securities) for an aggregate amount not exceeding Rs.1,250/- crore by way of Qualified Institutions Placement (QIP) and / or through any other permissible mode, in one or more tranches. Powered by Capital Market - Live News
Time of India
4 days ago
- Automotive
- Time of India
Bajaj Auto's Q4 net profit declines 10% to ₹1,802 crore
Bajaj Auto reported a 10% year-on-year decline in its consolidated net profit for the quarter ended 31 March 2025. The profit stood at ₹1,802 crore compared to ₹2,011 crore in the same period last year. On a sequential basis, profit after tax fell 18% from ₹2,196 crore in Q3FY25. Despite the drop in profit, revenue from operations grew by 9% to ₹12,646 crore, up from ₹11,555 crore a year ago. However, it was 4% lower than the ₹13,169 crore recorded in the previous quarter. The company's board has recommended a dividend of ₹210 per share for the financial year ended 31 March 2025. Subject to shareholder approval, the dividend is expected to be credited on or around 8 August 2025. Segment performance On a standalone basis, Bajaj Auto reported a 6% increase in net profit to ₹2,049 crore, up from ₹1,936 crore in Q4FY24. Standalone revenue also rose 6% year-on-year to ₹12,148 crore. The company attributed its revenue growth to strong sales of premium motorcycles, electric scooters, and commercial vehicles, along with robust export volumes. It noted that revenue growth was partially impacted by the temporary suspension of KTM exports. EBITDA and margins Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 6% year-on-year to ₹2,451 crore. EBITDA margin stood at 20.2%, a marginal increase from 20.1% in the year-ago period. The company said the improvement in margin was supported by favourable currency movements and cost reductions on its new Chetak electric platform. Domestic sales decline, exports surge Domestic sales volumes for the quarter were down 7% year-on-year at 6,13,248 units, compared to 6,57,330 units in Q4FY24. On a sequential basis, domestic volumes fell 13%. Two-wheeler sales totalled 5,01,096 units, while commercial vehicles accounted for 1,12,152 units. In contrast, export volumes rose 19% year-on-year to 4,89,686 units, up from 4,11,246 units. Bajaj Auto said exports delivered solid performance, helping offset some of the domestic shortfall. The company described FY25 as a record year in terms of revenue and profit, supported by stable ICE performance and rapid expansion in electric mobility. It highlighted strong results from the 125cc+ motorcycle segment, particularly the Pulsar range, which crossed ₹10,000 crore in domestic revenue and ₹15,000 crore globally. Bajaj Auto also reported that KTM and Triumph together sold over one lakh units domestically, reflecting the success of its expanded premium portfolio. The recent refresh of the Duke 200/250 and the launch of the new Adventure 390 helped sustain momentum.
TimesLIVE
7 days ago
- Automotive
- TimesLIVE
Volvo to cut 3,000 jobs in restructuring
Sweden-based Volvo Cars said on Monday it will cut 3,000 mostly white-collar jobs as part of a restructuring announced last month as it grapples with high costs, a slowdown in electric vehicle demand and uncertainty over trade tariffs. Volvo Cars, majority-owned by China's Geely Holding, on April 29 unveiled a programme to slash costs by 18bn Swedish crowns (R33,929,250,000) and hit the brakes on investments, warning redundancies were inevitable. In the first quarter, the carmaker had 43,500 full-time employees and 3,000 staffing agency personnel, according to its earnings report. Volvo Cars said the reductions will primarily affect office-based positions in Sweden and represent around 15% of the total office-based workforce globally. "The automotive industry is in the middle of a challenging period. To address this, we must improve our cash flow generation and structurally lower our costs," CEO Hakan Samuelsson said. As the group announced its cost cuts last month it also withdrew its financial guidance, pointing to unpredictable markets amid weaker consumer confidence and trade tariffs causing turmoil in the global car industry. On Friday US President Donald Trump threatened to impose a 50% tariff on imports from the EU from June 1, but on Monday he backed away from the date, restoring a July 9 deadline to allow for talks between Washington and Brussels. Samuelsson on Friday told Reuters customers would pay a big part of any tariff-related cost increases, and a 50% levy could make it impossible to import one of its most affordable cars, the Belgium-made EX30 electric vehicle, to the US.
The Star
26-05-2025
- The Star
Man, 67, falls prey to promises of profit, loses over RM625,000
JOHOR BARU: A 67-year-old man lost over RM625,000 after falling for a fake investment scheme that promised high returns. Johor Baru North OCPD Asst Comm Balveer Singh said the victim was contacted by an individual named Susan, who introduced him to the scheme in March. 'She got in touch with him through WhatsApp with the attractive opportunity of earning at least 15% profits from his invested amount. 'The victim was then added into a chat group on the app where he was instructed to download another app to manage and monitor his investment,' he said in a statement on Monday (May 26). He added that the victim followed the instructions and performed 16 transactions, depositing RM625,250 in total into five different bank accounts from March 22 until May 19. ACP Balveer said the victim realised he was scammed when he failed to withdraw his profits. 'He was instead told to deposit more money into the scheme so he decided to lodge a police report on Sunday (May 25),' he said, adding that the case is investigated under Section 420 of the Penal Code for cheating, which carries a jail term of up to 10 years and caning and a fine. ACP Balveer said actions will also be taken against those involved in letting others use their bank accounts as mule accounts. 'The public is advised to exercise caution when it comes to investments or depositing their money with strangers. 'The people should also be more aware of commercial crime trends and avoid falling prey to such tactics,' he added. He urged people to use the police's SemakMule portal or app to verify and check the list of mule bank accounts, phone numbers and shell companies used by scammers.
Express Tribune
24-05-2025
- Business
- Express Tribune
CDWP okays seven projects worth Rs104b
Listen to article Minister for Planning Ahsan Iqbal on Friday chaired a meeting of the Central Development Working Party (CDWP) that approved seven projects worth Rs104 billion. "Out of these, four projects with a cumulative cost of Rs8 billion were approved at the CDWP level. Additionally, three major projects, amounting to Rs96 billion, were recommended to the Executive Committee of the National Economic Council (Ecnec) for final approval," a news release said. The forum approved two projects relating to industries and commerce namely the "1,000 Industrial Stitching Units (Phase-II)" worth Rs1,950 million and the "Acquisition of Land for Establishment of SME Facilitation Centres at Various Locations" worth Rs1,250 million. It gave the go-ahead to two projects pertaining to information technology namely the "Development of Pakistan Lunar Exploration Rover (PLExR) for Chang'E-8 Mission" worth Rs2,535 million and the "Pakistan Manned Space Mission" worth Rs2,243 million. The CDWP referred three projects belonging to the transport and communication sector to Ecnec including the "Improvement of Road from Sanghar to National Highway N-5 at Point Rohri via Mundh Jamrao and Saleput 0.00 to 221 km" with a revised cost of Rs36,910 million. Another project titled the "Construction of Additional Carriageway along Mehran Highway from Nawabshah to Ranipur (135 km)" was forwarded to Ecnec at a revised cost of Rs41,034 million. The forum referred a project called the "Improvement of Road from Rohri to Guddu Barrage @ M-5 Interchange Sadiqabad via Khanpur Mahar, Mirpur Mathelo & Mureed Shah (150 km)" to Ecnec at a revised cost of Rs17,971 million.
