Tata Power Q4 Profit Rises 16.5% to Rs 10.43 Bn
Tata Power posted a net profit of Rs 10.43 billion in Q4FY25, up 16.5 per cent from Rs 8.95 billion in Q4FY24, beating analyst estimates of Rs 10.22 billion. Revenues rose 7.9 per cent to Rs 170.96 billion, in line with expectations.EBITDA increased 39.2 per cent to Rs 32.46 billion, driven by higher power sales, growth in solar rooftop projects, and a 73 per cent year-on-year rise in profit after tax in the distribution segment, mainly due to Odisha Discoms’ improved performance.For FY25, Tata Power achieved its highest ever annual revenue of Rs 645.02 billion. The company plans a capex of ..
Major Ports Handle Record 855 MT Cargo in FY25
India’s 12 major ports handled a record 855 million tonnes (MT) of cargo in FY25, a 4.3 per cent increase over 819 MT in FY24, the Ministry of Ports, Shipping and Waterways announced.Growth was driven by container movement, up 10 per cent; fertilisers, up 13 per cent; petroleum, oil and lubricants (POL), up three per cent; and miscellaneous cargo, rising 31 per cent. Paradip Port Authority and Deendayal Port Authority crossed the 150 MT cargo mark for the first time. Jawaharlal Nehru Port Authority handled 7.3 million TEUs, a 13.5 per cent rise, setting a new record.POL cargo led with 254.5 ..
Reliance Plans to Sell 4.9% Stake in Asian Paints
Reliance Industries Limited (RIL) plans to sell its entire 4.9 per cent stake in Asian Paints, according to a report by The Economic Times citing sources. For this purpose, RIL has engaged Bank of America to manage the transaction.This marks a potential exit from a 17-year-old investment. RIL acquired its stake in 2008 for about Rs 5 billion. The paints sector has been under pressure due to margin challenges and rising competition. Notably, RIL had earlier considered a stake sale in 2020.Asian Paints shares were trading down 1.62 per cent at Rs 2,287.50 at 11:50 am on the day of the report.Rec..
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