Latest news with #Rs4
Economic Times
2 days ago
- Business
- Economic Times
Three years after takeover Air India wants to walk without Tata hand holding
Air India, three years post-Tata Sons acquisition, is striving for profitability and reduced reliance on promoter equity. CEO Campbell Wilson highlights initiatives like airline mergers, tech upgrades, and fleet modernization to cut operational costs. Despite narrowed losses in FY24, airspace closures pose challenges, but Air India focuses on service quality and strategic routes to attract premium customers amidst rising competition. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ( Originally published on Jun 01, 2025 ) Three years after salt-to-steel conglomerate Tata Sons acquired Air India, the airline is aiming to be profitable and cut its dependence on equity investment from promoters, the airline's CEO Campbell Wilson in an interview to ET, didn't put a timeline to become profitable, but outlined multiple initiatives like the merger of four airlines into two, upgrading archaic software systems to modern ones, a strong order book for new aircraft while retrofitting the older ones and a better trained workforce as some of the steps which is reducing the cost of to an internal presentation reviewed by ET, the airline, late last year, had set a target to become profitable by FY 27. But closure of the Pakistani airspace for Indian carriers is likely to delay that, say experts.'I think the trajectory is very positive. While Air India has got new aircraft and improved standards, the low cost unit Air India Express has gone from 25 to 100 aircraft in a very short period of time and hence, there is some consolidation that needs to be performed,' Wilson said.'So if you, if you take the 2 units, both have slightly different trajectories, but in totality, are in the right place,Referring to the five-year transformation plan 'Vihaan' which was announced in September 2022, Campbell said,The airline significantly narrowed its losses in FY24, reporting a loss of Rs4,444 crore compared with Rs11,387 crore loss in FY23, its first full year after privatisation in 2022.'It'll take still a little bit more time to achieve what we want to achieve, but it was a five year project in the beginning'.The closure of the Pakistan air space has put a spanner in Air India's road to profitability. Due to the closure, which started on April 24, Air India's flights to North America are being forced to take detours and stops at Vienna and Copenhagen, leading to increased expenses.'It's not insignificant, but you know, as long as it covers the cost of operation, we will continue to operate. We don't know the extent to which the bottom line is going to be affected. We will try to minimise the effect,' Wilson airline has taken multiple mitigating steps like reducing the number of seats sold to reduce weight of aircraft such that only four routes are now doing dual strategy of operating a low cost and full service product though is helping to improve the balance sheet, the top executive said, as the low cost unit will be able to have cost parity with rival IndiGo in domestic sectors while Air India is earning a premium due to better product and service standards.'Previously, there weren't any sufficient advantages to overcome brand reputation, product and service that weren't as developed. But as we attain parity or even leadership on those things, those plus non-stop connections are clearly a competitive advantage,' Wilson airline's passenger revenue has more than doubled with a 49% market share on the top five metro routes and revenue from cargo has tripled since passengers for the airline has increased four times since acquisition, and is 10% of total traffic as the airline has revamped its flight schedules from neighbouring and South East Asian countries and flights are timed such that passengers connect to destinations in Europe, East Asia and Australia with minimum waiting is heating up as rival IndiGo, which has over 60% share of the domestic market, is readying to launch flights to though feels that the service standard and product of Air India will be attractive to the high-paying customers while IndiGo attracts the price conscious travellers. 'There's a premium market that is going via somewhere else because the non-stop proposition isn't of sufficient quality. We are catering to a different market segment and just need to be focused on our product quality, loyalty programme, catering, perception and connectivity,' he the airline's cabin upgrade program has been delayed significantly due to supply chain problems. Passengers flying to Europe and North America regularly complain about the worn out cabin or non-functional seat back screens. 'So there is more consistency to the product than earlier and there will be complete consistency in two years,' Wilson Tata Sons remain patient? 'You should ask them,' he quipped.
India Gazette
2 days ago
- India Gazette
Delhi: Delivery boy stabbed during robbery
New Delhi [India], June 1 (ANI): A 30-year-old delivery boy was stabbed by two robbers in the DBG Road police station area of Delhi early on Sunday morning. The victim, identified as Dharmendra, was returning home on his bike when the assailants, riding a scooty, intercepted him, the police said. According to police, the robbers snatched Dharmendra's mobile phone and around Rs4,000 in cash. When he resisted, one of the attackers stabbed him in the stomach before fleeing the scene. Dharmendra was rushed to RML Hospital, where he is currently undergoing treatment. Authorities have launched a search operation to apprehend the culprits. Further investigations are underway. Meanwhile, a 32-year-old woman, identified as Menaka Singh, was allegedly strangled to death in the Baljeet Nagar area under the Patel Nagar police station, Delhi Police reported on Saturday. According to Delhi Police, information was received regarding a murder in the Baljeet Nagar area of PS Patel Nagar. It was found that a 32-year-old lady identified as Menaka Singh was strangled. She was a homemaker whose husband works as a salesman in a Kirti Nagar furniture store. The accused, Dharmendra Kumar, aged 28 years, has been arrested. (ANI)
Time of India
4 days ago
- Politics
- Time of India
Use biochar, mechanisation for higher yields: Gadkari to farmers
1 2 3 4 Nagpur: Union minister for road transport and highways Nitin Gadkari called on farmers to embrace organic carbon techniques, biochar use, and modern mechanisation to improve agricultural yields, reduce input costs, and bolster farm income. Speaking at a workshop on biochar production and training at Bhakti Farms in Dhapewada on Friday, Gadkari said, "Organic carbon is like oxygen for soil—essential for healthy farming and prosperity." Addressing farmers and agricultural experts, he stressed that new technologies and organic farming practices can ensure better productivity and higher profitability. "We must adopt these innovations to protect the environment and improve the lives of farmers," he said. The workshop was organised by Agrovision Foundation and attended by dignitaries including Kanchan Gadkari, senior agricultural scientist CD Mayee, A Manikandan from ICAR-CICR, Ramkrishna Ghodpage from Dr Panjabrao Deshmukh Krishi Vidyapeeth (PDKV), Vijay Waghmare, Agrovision's Ravi Boratkar, and MGIRI's Ashutosh Murkute, Deep Verma, BJP district president Anandrao Raut, and other local leaders. Highlighting examples from Maharashtra, Gadkari cited Saoner's Rajesh Bagal, who reaped 110 tonne sugarcane per acre by boosting soil carbon content to 0.8% through compost use. Similarly, BJP leader Raut harvested 100 tonne sugarcane per acre after enhancing organic carbon levels in his land. "These examples prove that increasing organic carbon directly improves yields," he said. Gadkari described biochar as a 'black gold' that enhances soil fertility and combats climate change by storing carbon and reducing pollution. "Biochar also improves water retention and nutrient levels in soil," he explained. He noted that 'padhati' and 'turhati' are excellent local biomass sources for biochar production in Maharashtra. Gadkari detailed affordable methods to produce biochar, introducing equipment developed by MGIRI in Wardha: the drum-type pyrolyser priced at Rs5,000 to Rs7,000, and the box-type pyrolyser priced at Rs30,000, which can be mounted on tractors for easy field use. Beyond biochar, Gadkari urged farmers to explore cutting-edge technologies like drones for spraying nano urea, which can cut fertiliser wastage from 75% in manual spraying to just 25%. He cited farmer Dilip Dhote's success with drones and discussed solar-powered electric tractors and electronic bullock carts as affordable and efficient solutions for small farmers. Gadkari shared his own farming experiments, including mechanised 'iwamrut' (organic fertiliser) production at his farm, and free fly ash distribution from power plants to improve soil quality and reduce costs. He spoke about plans to create an organic fruit and vegetable market linked to Bhakti Farms, where residue-free produce will fetch higher prices compared to local mandis. "We're developing a dedicated website for Bhakti Farm Market so farmers can earn up to Rs4 lakh per acre from organic onions," he said. He also called for creating a bank of small agricultural tools and machinery to help farmers reduce their dependence on scarce labour and complete field work quickly. "New equipment is available in the market, but banks of such tools will make them accessible to small farmers," he suggested. Gadkari expressed his determination to end farmer suicides by reducing costs and improving farm incomes through technology. "Scientists must visit villages and teach farmers these methods so no one is left behind," he said, thanking Nagpur University management council member Samay Bansod for organising the workshop. "If we mechanise, experiment, and share knowledge, I'm confident we can end farmer distress and ensure prosperity for every farmer," he concluded. # What is Biochar? A carbon-rich material created by burning crop residues in low-oxygen conditions (pyrolysis). It looks similar to charcoal. # Key Benefits - Enhances soil organic carbon - Improves soil fertility and water retention - Reduces fertiliser requirements - Stores carbon, combating climate change - Cuts agricultural waste by reusing crop residue # How to Produce Biochar: - Drum-type pyrolyser: - Cost: ₹5,000–₹7,000 - Made from steel drums, suitable for individual farmers - Box-type pyrolyser: - Cost: ₹30,000 - Tractor-mounted for larger-scale production # Scientific Backing: - Increases organic carbon in soil, leading to better yields - Known as "black gold" by agricultural scientists - Proven to boost crop production when used with compost # Local Examples: Farmers in Maharashtra increased yields from 60–70 tonnes to over 100 tonnes of sugarcane per acre by raising soil carbon. Endorsed by Union Minister Nitin Gadkari at the Dhapewada workshop. # Sustainability Impact: - Reduces need for chemical fertilisers - Cuts down greenhouse gas emissions - Prevents open burning of crop residues # Applications - Can be mixed with compost for organic farming - Enhances yield quality, increasing market value of produce - Reduces input costs over time # Call to Action for Farmers - Test soil for organic carbon (minimum 0.25% ideal, can go up to 0.8%) - Start small-scale biochar production using local crop residues - Combine with organic techniques to boost incomes and fight climate change Nagpur: Union minister for road transport and highways Nitin Gadkari called on farmers to embrace organic carbon techniques, biochar use, and modern mechanisation to improve agricultural yields, reduce input costs, and bolster farm income. Speaking at a workshop on biochar production and training at Bhakti Farms in Dhapewada on Friday, Gadkari said, "Organic carbon is like oxygen for soil—essential for healthy farming and prosperity. " Addressing farmers and agricultural experts, he stressed that new technologies and organic farming practices can ensure better productivity and higher profitability. "We must adopt these innovations to protect the environment and improve the lives of farmers," he said. The workshop was organised by Agrovision Foundation and attended by dignitaries including Kanchan Gadkari, senior agricultural scientist CD Mayee, A Manikandan from ICAR-CICR, Ramkrishna Ghodpage from Dr Panjabrao Deshmukh Krishi Vidyapeeth (PDKV), Vijay Waghmare, Agrovision's Ravi Boratkar, and MGIRI's Ashutosh Murkute, Deep Verma, BJP district president Anandrao Raut, and other local leaders. Highlighting examples from Maharashtra, Gadkari cited Saoner's Rajesh Bagal, who reaped 110 tonne sugarcane per acre by boosting soil carbon content to 0.8% through compost use. Similarly, BJP leader Raut harvested 100 tonne sugarcane per acre after enhancing organic carbon levels in his land. "These examples prove that increasing organic carbon directly improves yields," he said. Gadkari described biochar as a 'black gold' that enhances soil fertility and combats climate change by storing carbon and reducing pollution. "Biochar also improves water retention and nutrient levels in soil," he explained. He noted that 'padhati' and 'turhati' are excellent local biomass sources for biochar production in Maharashtra. Gadkari detailed affordable methods to produce biochar, introducing equipment developed by MGIRI in Wardha: the drum-type pyrolyser priced at Rs5,000 to Rs7,000, and the box-type pyrolyser priced at Rs30,000, which can be mounted on tractors for easy field use. Beyond biochar, Gadkari urged farmers to explore cutting-edge technologies like drones for spraying nano urea, which can cut fertiliser wastage from 75% in manual spraying to just 25%. He cited farmer Dilip Dhote's success with drones and discussed solar-powered electric tractors and electronic bullock carts as affordable and efficient solutions for small farmers. Gadkari shared his own farming experiments, including mechanised 'iwamrut' (organic fertiliser) production at his farm, and free fly ash distribution from power plants to improve soil quality and reduce costs. He spoke about plans to create an organic fruit and vegetable market linked to Bhakti Farms, where residue-free produce will fetch higher prices compared to local mandis. "We're developing a dedicated website for Bhakti Farm Market so farmers can earn up to Rs4 lakh per acre from organic onions," he said. He also called for creating a bank of small agricultural tools and machinery to help farmers reduce their dependence on scarce labour and complete field work quickly. "New equipment is available in the market, but banks of such tools will make them accessible to small farmers," he suggested. Gadkari expressed his determination to end farmer suicides by reducing costs and improving farm incomes through technology. "Scientists must visit villages and teach farmers these methods so no one is left behind," he said, thanking Nagpur University management council member Samay Bansod for organising the workshop. "If we mechanise, experiment, and share knowledge, I'm confident we can end farmer distress and ensure prosperity for every farmer," he concluded. # What is Biochar? A carbon-rich material created by burning crop residues in low-oxygen conditions (pyrolysis). It looks similar to charcoal. # Key Benefits - Enhances soil organic carbon - Improves soil fertility and water retention - Reduces fertiliser requirements - Stores carbon, combating climate change - Cuts agricultural waste by reusing crop residue # How to Produce Biochar: - Drum-type pyrolyser: - Cost: ₹5,000–₹7,000 - Made from steel drums, suitable for individual farmers - Box-type pyrolyser: - Cost: ₹30,000 - Tractor-mounted for larger-scale production # Scientific Backing: - Increases organic carbon in soil, leading to better yields - Known as "black gold" by agricultural scientists - Proven to boost crop production when used with compost # Local Examples: Farmers in Maharashtra increased yields from 60–70 tonnes to over 100 tonnes of sugarcane per acre by raising soil carbon. Endorsed by Union Minister Nitin Gadkari at the Dhapewada workshop. # Sustainability Impact: - Reduces need for chemical fertilisers - Cuts down greenhouse gas emissions - Prevents open burning of crop residues # Applications - Can be mixed with compost for organic farming - Enhances yield quality, increasing market value of produce - Reduces input costs over time # Call to Action for Farmers - Test soil for organic carbon (minimum 0.25% ideal, can go up to 0.8%) - Start small-scale biochar production using local crop residues - Combine with organic techniques to boost incomes and fight climate change
Hans India
7 days ago
- Business
- Hans India
Muthoot FinCorp Net profit zooms 40% to `787.15 cr in FY25
Trivandrum: Muthoot FinCorp Limited, the flagship company of the 138-year-old Muthoot Pappachan Group, also known as Muthoot Blue, reported a net profit growth of 39.86 per cent for FY25, reaching Rs787.15 crore, up from Rs562.81 crore in FY24. Year-on-year (Y-O-Y) revenue stood at Rs5,550.53 crore, a 38.22 per cent increase from Rs4,015.77 crore. Disbursements for the year were Rs66,277.31 crore, reflecting a 32.11 per cent growth Y-O-Y. Revenue for the quarter reached Rs1,478.59 crore, marking a 23.49 per cent increase from Rs1,197.31 crore in Q4 FY24. Assets Under Management (AUM) stood at Rs32,055.17 crore, up 46.22 per cent from Rs21,922.70 crore in the same quarter of the previous year. The standalone net profit for the quarter was Rs191.67 crore, compared to Rs239.79 crore in Q4 FY24, while disbursements rose to `19,648.29 crore from Rs14,130.08 crore, a 39.05 per cent increase. Thomas John Muthoot, Chairman of Muthoot FinCorp Limited, said: 'FY25 has been a deeply fulfilling year for us. The 39.86 per cent growth in net profit and over 38 per cent increase in revenue are not just financial achievements—they reflect the enduring trust of our customers, the strength of our purpose, and the dedication of our Muthootians across India. As our non-gold portfolio continues to expand and more households benefit from our inclusive offerings, we remain firmly committed to transforming lives by improving their financial wellbeing.' The board of directors has also approved the raising of up to Rs8,000 crore through the issuance of Non-Convertible Debentures (NCDs), Subordinated Debt, Perpetual Debt, and Commercial Papers (CPs) during the current financial year, to support the company's growth and capital requirements.
Business Recorder
7 days ago
- Automotive
- Business Recorder
Engine capacity above 1300cc: FBR proposes increase in WHT rates on vehicles
ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to increase withholding tax rates on vehicles having engine capacity above 1300cc in the coming budget (2025-26). Presently, the withholding tax on vehicles is 2 per cent of the total value for those with engine capacities between 1,300cc and 1,600cc; 3 per cent for 1,601cc to 1,800cc; 5 per cent for 1,801cc to 2,000cc; 7 per cent for 2,001cc to 2,500cc; 9 per cent for 2,501cc to 3,000cc; and 12 per cent for vehicles above 3,000cc. FBR may allow import of 5-year-old used vehicles It has been proposed to raise WHT rates on the said categories of vehicles to generate additional revenue. The move builds on last year's shift to a value-based taxation model that replaced fixed advance taxes with levies linked to vehicle prices across all categories. The FBR collected more than Rs4 billion in withholding taxes from all categories of vehicles in 2024. The FBR has projected significant revenue growth after enhancement in the tax rates from new fiscal year. Copyright Business Recorder, 2025
