Net income for the first quarter ended June 30 dropped to Rs 107 crore ($16.4 million) from Rs 328 crore a year earlier.
Indian refiners had received approval to pay Iran $1.4 billion in oil dues, Reuters reported earlier, in one of the first signs a nuclear deal with six major world powers is helping Tehran unlock ...
The company has been forced to cut costs and jobs following its ill-timed entry into Europe, where steel demand has languished after the financial crisis and clients have turned to cheaper imports...
The South Korean steelmaker has signed an agreement with Uttam Steel and Power to set up a 3 million tonne-per-year integrated steel plant in the state.
The company's net profit for the period ended June 30 more than doubled to Rs 763 crore ($118.82 million), on a consolidated basis, from Rs 337 crore a year earlier.
Weak monsoon rains, essential for irrigating the majority of farmland, have affected the incomes of farmers in several parts of the country, leading to lower tractor sales.
"We remain fully committed to our Africa operations and will continue to invest in its growth and building a profitable business and accordingly have no plan to exit," the company said.
The deal, valued at about Rs 800 cr, is expected to be completed in 2015, Fairfax said in a statement.
The company said it was shelving plans to buy a cricket team in the highly profitable Indian Premier League blaming the 'negative aura' of the corruption-hit competition.
Tata Motors, part of Tata Group, generated about Rs 2,000 crore ($316 million) in revenue from defence over the last three years, about 3 per cent of the company's total revenues.
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