Latest news with #Rs89
India Gazette
02-06-2025
- Automotive
- India Gazette
Hyundai Motor India reports monthly sales of 58,701 units in May 2025
Gurugram (Haryana) [India], June 2 (ANI): Hyundai Motor India Limited (HMIL) recorded total monthly sales of 58,701 units, including domestic sales of 43,861 units and exports of 14,840 units in May 2025, which shows the demand for the car overseas. According to HMIL, the availability of a few critical models was impacted in May on account of the scheduled biannual plant maintenance shutdown at the Chennai manufacturing facility. Tarun Garg, whole-time Director and Chief Operating Officer, HMIL, commenting on the performance, stated, 'HMIL's total sales volume for May 2025 stood at 58,701 units. May is a month of our routine week-long biannual maintenance shutdown at our Chennai manufacturing facility which affects availability of few critical models. The company also stated, 'We continue to witness consistent growth in our exports volume and this is a testament to the 'Make in India, Made for the World' philosophy that we passionately uphold. Going forward, we remain hopeful of a steady increase in demand for both domestic as well as international shipments with reduced uncertainty on the geo-political front and improved macro-economic situation.' Hyundai contributed 68.5 per cent in domestic SUV supply to the Indian market in FY24-25, with Creta contributing to over 30 per cent in midsize SUV space. The company exported 163K vehicles, while domestic volumes stood at 599K in the last fiscal. Revenues of the company in FY24-25 stood at Rs 691,929 Mn. and EBITDA at Rs89,538 Mn, with EBITDA margin at 12.9 per cent. last fiscal the company has given a dividend of Rs21 per to its shareholders. The product line of Hyundai India includes Grand i10 (Hatchback & Sedan), i20, Venue, Accent (Verna), Creta and Creta Grand. The company currently exports to more than 80 countries. (ANI)
Hans India
23-05-2025
- Business
- Hans India
Adani Group's EBITDA rises 8% to all-time high of `89,806 cr in FY25
New Delhi: The Adani Portfolio of companies on Thursday reported a landmark fiscal result for FY25, as EBITDA scaled to an all-time high of Rs89,806 crore ($10.5 bn), up 8.2 per cent year-on-year. Excluding non-recurring prior period items, the growth stands even higher at 18 per cent (on-year). Meanwhile, profit after tax (PAT) rose to an all-time high of Rs40,565 crore. Gross assets increased to Rs609,133 lakh crore at a six-year (FY19-FY25) CAGR of over 25 per cent, as the Adani Portfolio registered record capex of Rs126,000 crore ($14.7 bn). 'A key highlight of FY25 is the continued industry-beating Return on Assets (RoA) of 16.5 per cent, which is among the highest in any infrastructure business globally, underpinning the attractive asset base and the execution capabilities of the Adani Portfolio to continuously churn out the best quality assets across sub sectors,' said Jugeshinder Robbie Singh, GCFO, Adani Group. 'Additionally, we have undertaken various initiatives related to governance and ESG, viz. Tax Transparency report released by all portfolio companies, in addition to all the other initiatives introduced over the past years, resulting in industry-best ESG scores and performance by international ESG rating agencies,' he added. Cash after tax (CAT) or Fund Flow from Operations (FFO) increased to Rs 66,527 crore ($7.8 billion), up 13.6 per cent, driven by strong operating leverage across businesses. According to the company, higher cash flows helped record asset addition of Rs1.26 lakh crore -- the highest in the history of Adani Portfolio, taking the total gross assets to Rs6.1 lakh crore ($71.2 bn).
Time of India
09-05-2025
- Politics
- Time of India
AIADMK MLAs question govt claims, detained in Dharmapuri
: Two MLAs and 22 party cadres were detained on Friday for disrupting a meeting chaired by tourism minister R Rajendran to review the condition of two in the district. Rajendran, along with district collector R Sadheesh and various officials, participated in the meeting at Subramaniya Siva Cooperative Sugar Mill in Harur to discuss measures to improve the mills' performance and interact with the meeting, AIADMK MLA Govindhasamy raised concerns and said, "During the assembly session, we were told that more than 45% of the work on setting up a at the Subramaniya Siva Cooperative Sugar Mill was completed. But the work hasn't even begun."He said the tourism minister was lying about the project's progress. This remark triggered outrage among the cadres present at the meeting and they began shouting at MLAs Govindhasamy and V Sampathkumar. Tired of too many ads? go ad free now AIADMK cadres retaliated, leading to a heated this, police escorted the two MLAs out of the meeting. They were later detained, along with 22 AIADMK cadres, at a private marriage hall. All of them were released later in the to reporters later in the day, Govindhasamy said, "A cogeneration unit has been a long-standing demand of farmers of Harur and Pappireddipatti who are the mill's stakeholders. In 2023-24, Rs89 crore was sanctioned for this purpose. During the recent assembly session, it was stated that 45% of the work was completed. But where is the progress?"The MLA said he had visited the mill several times along with Harur MLA V Sampathkumar. "But we didn't see any ongoing work. When we raised this question, we were removed from the meeting and detained. The govt is lying. No work has been done there."
Gulf News
02-05-2025
- Business
- Gulf News
Vizhinjam Port is a win for India and Kerala - why can't V.D. Satheesan get it?
Kerala politicians can never ever seem to think beyond their backyards. Or go to any lengths to whip up a political crisis of nothing. Which is a pity. And shameful. Whatever reason V.D. Satheesan – the Congress Party stalwart and Kerala's Leader of the Opposition - had to stay away from the opening of the Rs89 billion Vizhinjam Deepwater Seaport was out and out political. If he had got the invite to attend, he should have - and not come out with the excuse of not receiving it on time. It's also time Satheesan stops name-dropping the late Oomen Chandy's name in every conversation about the Vizhinjam Port. Because it doesn't get Satheesan or the Congress Party anywhere. (Satheesan's ire is that Oomen Chandy's role in initially getting the port project rolling has not been appreciated enough…) But the real problem is Satheesan failure – a dismal failure – in not seeing the bigger picture. Because right now, that big picture is the one framed by the Vizhinjam Port. Nothing else matters. A public-private sector development, the gigantic ports creates - and opens up - opportunities that a cash-strapped, debt-heavy Kerala economy needs. Things have never looked this good for Kerala from an economic perspective at any other time in the near future. Compared to how projects usually shape up, this one actually did hit all the key construction milestones in fairly even time (once the teething problems associated with land acquisition was done). Operated by Adani Group, the port development has created jobs and offers the potential to add more to the workforce at a time when Kerala desperately needs to see more people employed gainfully. Satheesan, if he actually cared, could also look at an even bigger picture. Of what this port at the southern point of the country would mean for India's trade and status as a transhipment hub. At a time, when global trade is transforming itself at a pace never imagined before. India's got itself a truly next-generational seaport that gives the country's just that extra edge compared to what's available in its vicinity. This is a port that will add to India's chances as an economy that's taken its place among the world's biggest – and intends to stay there. Would it have been too much for Satheesan to have attended the ceremony to mark this moment? Narendra Modi as Prime Minister and Pinarayi Vijayan as Kerala Chief Minister were there, and so did Gautam Adani and a host of others. There were those matter and those who do not figure in the grand scheme of things who attended. Because the opening of Vizhinjam Port was what mattered, nothing else. Satheesan not attending did not change anything. Sateeshan should know by now that every aspect of Indian life is shaded by some aspect of politics. There will be those who will lay claim to have been instrumental in bringing Vizhinjam Port to life. Let history decide who should get the credit.
Express Tribune
27-01-2025
- Business
- Express Tribune
No reduction in industrial power prices
ISLAMABAD: The International Monetary Fund (IMF) has not endorsed Pakistan's proposal to further reduce industrial electricity prices by Rs2.70 per unit through the complete elimination of cross-subsidies, which the sector is providing to shoulder subsidies to low-end residential consumers. Energy ministry sources told The Express Tribune that the ministry floated the proposal to further reduce electricity prices for industries by Rs2.70 per unit. This would have provided nearly Rs37 billion relief to the industrial sector for the February-June period of this fiscal year. The annual impact had been estimated at Rs89 billion. The proposal was shared with the IMF last week, which has objected to it on the grounds that the government should aim at overall power sector reforms. The IMF's objection was that Pakistan should not implement this proposal in isolation. The government is working on a proposal to move from a general to a targeted subsidies regime in collaboration with the IMF. The new regime may be rolled out in July this year, which would address the issue of cross-subsidies, said the sources. "We have decided not to follow that route and work on a comprehensive proposal to bring down power tariffs for all segments," said Zafar Yab Khan, the spokesperson for the Ministry of Energy. He was requested to comment on the IMF's observations about the proposal to reduce industrial tariffs by Rs2.70 per unit. It was the second such cut that the government wanted to extend to the industrial sector in the past seven months. But it again ignored the residential consumers who are also cross-subsidising the below 300 units/month consumers' bills. Earlier, Prime Minister Shehbaz Sharif had announced a reduction in electricity tariffs for the industrial sector by Rs10.69 per unit to boost production and exports, according to an official announcement by the Prime Minister's Office in June last year. Deputy Prime Minister Ishaq Dar also chaired a meeting on power tariffs for industrial consumers last week, said the sources. Earlier, the IMF had also not given the go-ahead for a Rs4.80 per unit reduction in electricity prices for consumers by abolishing taxes. This would have provided Rs580 billion annual relief to residential consumers. To compensate for the Rs580 billion losses, the Power Division had proposed increasing the current Petroleum Levy rate of Rs60 per litre and sacrificing the Public Sector Development Programme (PSDP), according to government sources. The Power Division had proposed that income tax, sales tax, further tax, extra tax, electricity duty, and the television fee being charged on electricity bills be abolished. Many of these taxes are unjustified, but due to the Federal Board of Revenue (FBR)'s failure to expand the tax base, the bills are used as a tool to collect revenues. The elimination of six types of taxes would have resulted in a Rs4.77 per unit price reduction, but it would have dented federal and provincial revenues by Rs580 billion per annum, said the sources. Out of the Rs580 billion, there was an estimated hit of Rs352 billion on the provinces. The federal government could have sustained a Rs230 billion hit, according to the sources. The per-unit electricity cost, including all taxes and surcharges, is about Rs65 to Rs70 per unit, which has already forced consumers to shift to rooftop solar panels. The plan states that by abolishing income tax and reducing the sales tax to the extent of only input tax adjustment claims of the power producers, the government can reduce the electricity price by Rs4.12 per unit. The annual impact of reducing and abolishing these taxes is Rs502 billion. Under the 7th National Finance Commission award, 57.5% of federal tax collection goes to the provinces as their shares. Then there is an extra tax carrying an annual implication of Rs64 billion. The government collects Rs62 billion in electricity duty, and its elimination would have resulted in a 51 paisa per unit reduction. There is also a Rs35 per bill PTV fee. The government collects Rs16 billion annually in PTV fees, and its elimination could have reduced electricity prices by 13 paisa per unit. There could have been a negative impact of Rs182 billion on Punjab due to the reduction in taxes, duties, and fees. Sindh would have taken an annual hit of Rs86 billion, Khyber-Pakhtunkhwa Rs54 billion, and Balochistan Rs28 billion.
