Business - The Purbottar

27 Jan

Tata AIA Life launches ‘Shubh Muhurat’ to help Indian families achieve dream weddings

Business BureauBusiness

In a move to address the growing financial burden associated with Indian weddings, Tata AIA Life Insurance, a leading life insurer, has introduced 'Shubh Muhurat,' a novel life insurance solution. This product is designed to assist parents in systematically saving for their children's dream weddings while also providing financial security in unforeseen circumstances. Traditionally, Indian families have relied on gold, fixed deposits, and other conventional saving methods to accumulate funds for weddings. However, these options often lack flexibility or the potential for substantial wealth growth over time. Shubh Muhurat emerges as a solution, promoting goal-based saving through life insurance. The…

27 Jan

Air India introduces AI-driven eZ booking for seamless reservations

Business BureauBusiness

Air India has launched its groundbreaking AI-powered eZ Booking feature, promising a faster and more intuitive reservation experience for Maharaja Club loyalty program members. The feature, available on Air India’s website, eliminates complex navigation, allowing users to book tickets effortlessly by speaking or typing their travel needs. The innovative eZ Booking employs ‘Agentic AI,’ mimicking human travel agents by understanding natural language inputs and generating customized itineraries. Users can modify or finalize their plans with minimal commands, making the process seamless. “eZ Booking showcases our commitment to enhancing customer experience with intelligent digital solutions,” said Dr. Satya Ramaswamy, Chief Digital…

27 Jan

Indian Oil Q3 Earnings Preview | Dramatic increase in profit expected after weak Q2

editorBusiness, News

Indian Oil Corporation (IOC) Ltd will announce its third quarter earnings for the financial year 2024-25 on January 27. Analysts expect a sharp jump in profits, mainly due to the weak performance in the previous quarter (Q2 FY25). What to expect Profit jump: IOC is expected to report a profit of ₹6,140 crore, a significant rise from just ₹180 crore in Q2 FY25. Revenue growth: Revenue is estimated to grow 11% to ₹1.92 lakh crore compared to ₹1.74 lakh crore in the previous quarter. EBITDA improvement: Earnings before interest, tax, depreciation and amortization (EBITDA) is estimated to increase from ₹3,772…

25 Jan

ICICI Bank Q3 results preview: Net profit may rise 10%, asset quality likely to remain stable

editorBusiness, News

ICICI Bank is set to announce its financial results for the October-December quarter (Q3FY25) on Saturday, January 25. Analysts expect the bank to report a healthy rise in profit on the back of strong loan growth and stable asset quality. According to a CNBC-TV18 poll, ICICI Bank's profit after tax (PAT) is expected to rise 10.3% to reach ₹11,332.7 crore compared to ₹10,271.6 crore in the same period last year. Meanwhile, the bank's net interest income (NII) is estimated to reach ₹20,461.4 crore from ₹18,678.6 crore in Q3FY24. The bank's asset quality is likely to remain stable. Brokerage firm Motilal…

24 Jan

NHC Foods records 384% profit growth in Q3-FY25, eyes expansion

Business BureauBusiness

NHC Foods Limited, a leading exporter of spices and agricultural commodities, has reported a remarkable 384% growth in net profit for Q3-FY25, reaching ₹208.33 lakh compared to ₹43.03 lakh in the same period last year. Revenue for the quarter surged 58% to ₹7,352.97 lakh, driven by robust domestic and international demand. For the nine months ending December 31, 2024, net profit soared by 384% to ₹614.30 lakh, while revenue climbed 64% to ₹21,420 lakh, surpassing the company’s total FY24 profits. The performance underscores NHC Foods’ resilience and growth amid a challenging market landscape.To bolster growth, the company is investing in…

24 Jan

Flipkart teams up with ITI Kalyani to strengthen supply chain workforce

Business BureauBusiness

Flipkart, a leading player in India’s e-commerce sector, has partnered with the Industrial Training Institute (ITI) Kalyani, West Bengal, to establish a Center of Excellence (CoE) lab under its Supply Chain Operations Academy (SCOA). The initiative, outlined in a Memorandum of Agreement (MoA), aims to equip youth with industry-relevant skills for supply chain operations, addressing the growing demand in the e-commerce ecosystem. The CoE lab will provide free training, certifications, and a 45-day On-The-Job-Training (OJT) or Industry Exposure (IE) program at Flipkart facilities. SCOA’s curriculum covers key roles, including Picker, Putter, Packer, and Data Entry Operator. In 2024 alone, SCOA…

24 Jan

Flipkart and APFBC join hands to empower Assam’s entrepreneurs through e-commerce

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Flipkart, in collaboration with the Assam Project on Forests & Biodiversity Conservation (APFBC), hosted an orientation workshop focused on empowering self-help groups (SHGs) and cluster level federations (CLFs). The event, held at Aranya Bhawan, introduced participants to Flipkart’s 'Samarth' program, which aims to provide entrepreneurs with digital tools and PAN-India market access. Attendees, including artisans and weavers, gained insights on product listing and online business strategies. The workshop emphasized training and logistics support for sellers. Mr. Rajneesh Kumar, Chief Corporate Affairs Officer of Flipkart, highlighted the initiative's goal to foster economic opportunities and digital inclusivity for underserved communities. Launched in…

24 Jan

Indus Towers shares surge on rose in Q3 earnings, Citi expects 32% surge

editorBusiness, News

Shares of telecom company Indus Towers rose two percent in the morning session on January 24 after the company reported better-than-expected earnings for the quarter ended December (Q3) of the current financial year (FY25). Indus Towers reported a consolidated net profit of Rs 4,003 crore for the quarter, registering a growth of 159.9 percent from Rs 1,541 crore in the corresponding quarter of the previous fiscal, led by significant collection of dues from Vodafone Idea and strong tower additions. The company saw its revenue from operations grow by 4.8 per cent to Rs 7,547 crore from Rs 7,199 crore in…

23 Jan

Ujjivan Small Finance Bank Q3 results: Rise in provisions leads to 64% drop in profit

editorBusiness, News

Ujjivan Small Finance Bank Ltd reported a 64% year-on-year drop in its profit during the three months ended December to Rs 109 crore due to a rise in provisions. Sequentially, the bank's profit declined 53%.The bank's provisions and contingencies rose to Rs 223 crore, up sharply from Rs 63 crore a year ago. A marginal rise in net interest income also capped the small finance bank's net interest income at Rs 887 crore, up 3% year-on-year. As a result, net interest margin fell to 8.6% in the October-December period from 9.2% a quarter ago and 8.8% a year ago. The…

23 Jan

Assam ITI Ecosystem Summit focuses on future-ready and green skills for youth

Business BureauBusiness

The Future Right Skills Network (FRSN), in partnership with the Directorate of Employment and Training, Assam, successfully hosted the ITI Ecosystem Summit in Guwahati, bringing together industry leaders, policymakers, and learners to discuss the future of skill development. The event, held at NEDFi House, emphasized the need to equip Assam’s Industrial Training Institutes (ITIs) with future-ready and green skills to prepare the youth for the rapidly evolving job market. The summit aimed to address the growing demand for skilled labor in sectors such as renewable energy, digital technology, and green construction. With sustainability and AI driving industrial change, the event…