Mumbai: Vakrangee Ltd, an ATM services provider, reported a 201% year on year (YoY) increase in consolidated net profit to ₹3.15 crore in Q3 FY26, despite a 10.3% decline in income. The company has attributed this to a direct supply of ATM machines to Vakrangee, with the elimination of inter-company sales from its subsidiaries. The company’s total income was ₹68.6 crore in Q3 FY25, which has declined to ₹61.57 crore this time. The company’s EBITDA has grown 48.7% YoY from ₹6.22 crore to ₹9.26 crore, a YoY increase of 48.7%. As a provider of white-label ATM services, Vakrangee is looking…
Author: Abizar Attari
Abizar Attari
Abizar has been writing before AI started to take over your lives! His expertise lies in analysing diverse perspectives and simplifying them for laymen. Beyond writing, storytelling and editing, he enjoys running, learning and enjoying the outdoors.
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Mumbai: South India-focused lender SBFC Finance has delivered strong results for Q3 FY26, with its net profit rising 34% year on year to ₹118 crore as the company benefitted from improved asset quality and lower NPAs. The company’s revenues have reached ₹426 crores, a 27.8% YoY growth, with its Assets Under Management rising to ₹10,478, a 29% increase. Its Net Non Performing Assets (NPAs) have reduced to 1.48% in Q3, from 1.63% last year. The revenue growth was driven mostly by its core lending business, with its interest income growing to ₹393 crore from ₹301 crore in the quarter ended…
Mumbai: UltraTech Cement has reported a 27% year on year rise in net profits to ₹1,729.4 crore in Q3FY26, on the back of sustained cement sales, beating market expectations. The company delivered this performance despite challenges, including a shortage of sand across the country and the ₹ 88 crore one-time provisions to meet gratuity and leave liabilities, in compliance with India’s new labour laws. For the quarter, consolidated cement sales volumes had recorded a growth of 15% year on year, slightly below analysts’ expectations of 19-21%. Despite this, net sales increased 23% YoY to ₹21,506 crore from ₹17,555 crore in…
New Delhi: DLF Ltd has announced the launch of its first senior living residential project in Gurugram worth ₹2,000 crore, after almost 3 months of not announcing any new projects. To be developed in phases, the project will have an age-friendly design, community living and healthcare access, to meet the demand from India’s rapidly ageing high net worth retirees. This comes after months of recording a steep fall in sales bookings to ₹419 crore in Q3FY26, from ₹12,039 crore reported a year ago. The company’s ultra luxury, 17 acre The Dahlias project at DLF Phase 5 in Gurugram has seen…
New Delhi: The Competition Commission of India (CCI), in a leaked report, has shown how four leading steel companies, Tata Steel, JSW Steel, SAIL and RINL, have colluded to control prices and supply in the domestic steel markets between 2018 and 2023. In the report seen by Reuters, has reviewed dozens of WhatsApp groups, named “Steel Live Market” , “Friends of Steel” and “Tycoons” that have been used to share sales and production patterns, price changes and other changes with representatives from these companies. The case opened in 2021, with the companies being asked to submit their financial details and…
Mumbai: Adani Enterprises has refuted allegations made in a Bloomberg report that the US Securities and Exchange Commission (SEC) has tried (and failed) to issue summonses to Gautam Adani and his nephew Sagar Adani for a bribery scheme using capital raised in America. In a series of rebuttals made by its various subsidiaries, Adani Enterprises has said that it isn’t a party involved in any US legal proceedings as alleged in the report. “There are no allegations made against the Company in, and the Company is not party to, these proceedings,” the press releases by the Adani subsidiaries to the…
Mumbai: Gandhar Oil Refinery (India) has reported a healthy year-on-year(YoY) growth in revenue, which rose from ₹1,005.3 crore in Q3 FY25 to ₹ 1,167 this time. Along with this, the Profit After Tax (PAT) increased 68% YoY to ₹34 crore from ₹20.4 crore as the company chose to focus on the high-margin Pharmaceutical, Health-Care and Performance Oil (PHPO) product segment. In fact, PHPO commanded almost 50% of its 9M revenues for FY25-26, followed by lubricants at 26.80%, PIO at 9.50% and channel partners at 13.70%. The company’s consolidated EBITDA for Q3 FY26 rose to ₹59.1 crore from ₹41.6 crore, a…
Mumbai: Karur Vysya Bank has delivered a 20% quarter-on-quarter (QoQ) rise in consolidated net profit for Q3 FY26, driven by stronger operating leverage, delighting its investors. These results reflected stronger core banking performances as the bank’s Net Interest Margin (NIM) falls 22 bps due to a ₹139 crore write off made in the previous quarter. The surge in quarterly profits has been driven by a higher net interest income, healthy fee income growth and disciplined management, who helped offset the challenges from the NIM decline. The bank’s Current Account Savings Account (CASA) deposit growth increased by 16% year on year,…
New Delhi: Auto Components maker Sona Comstar, also known as Sona BLW Precision Forgings Ltd, has reported strong quarterly results on the back of strong growth in its electric vehicle traction motor and railways businesses. The company saw its revenues rise 39% year on year (YoY) to Rs. 1,209 crores, with its EBITDA growing at 30% to Rs. 305 crores. The company’s adjusted PAT was at Rs. 181 crores, with a net profit margin of 14.9%, even as the company had to make provisions for one-time expenses. Despite revenues from its battery EV sector being lower by 14.4% YoY for…
For musicians, AI can remove friction, reduce costs, and boost scale AI remains a tool for some, a cheatcode for others. Students and aspiring creators have long used AI tools as a shortcut to get quick, agreeable results, many of which depend on previously fed creative data that the chatbot mixes and spits out. Those in the creative industries, many of whom have spent years fine tuning their craft, have been up in arms against such tools, alleging that their work is being misused without permission. Sourabh Pateriya, Founder and CEO of Soundverse AI, agrees. “Fairness starts with agency and…
