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BT Podcast: Tata Motors posts over 11-fold rise in Q3 net profit

Tata Motors has posted over 11-fold increase in quarterly profit. The auto major reported net profit of Rs 1,215 crore for the December quarter.

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BT Podcast:Tata Motors posts over 11-fold rise in Q3 net profit

 


Tata Motors posts over 11-fold rise in Q3 net profit

Tata Motors has posted over 11-fold increase in quarterly profit. The auto major reported net profit of Rs 1,215 crore for the December quarter. The company had reported loss of Rs 1,052.13 crore in the year-ago period and a net loss of Rs 295.30 crore in September quarter, the company said in an exchange filing. Group revenue rose 16.1 per cent to Rs 74,156 crore in the reporting quarter, the company said in an exchange filing.

Sensex slide not due to capital gains tax, says Jaitley

Finance minister Arun Jaitley and his team have said that the market crash was due to 'negative global clues' and not due to the long term capital gains tax imposed in the budget. "It is not due to the Budget or the LTCG. Dow Jones has also fallen by over two per cent," Jaitley told reporters on the sidelines of an event. The Budget had imposed a 10 per cent LTCG tax, following which the Sensex started its downward spiral. After closing in the red on the Budget day, it witnessed the steepest fall since

Trai calls for accuracy in measurement of broadband experience

Internet speeds and broadband experience have undergone a massive change. Telecom regulator TRAI has suggested that all data-speed testers must share their certification methodologies in a transparent manner to ensure that everyone understands them. "Speed of internet connection is the most important and fundamental metric to measure broadband experience, especially since 4G LTE networks' penetration in India has increased and data consumption pattern has undergone a massive change," the Telecom Regulatory Authority of India said in a paper on measuring wireless data speeds

RBI could toughen warning against inflation

The Reserve Bank of India is likely to keep its policy rate on hold this week, but could toughen its warnings against inflation, economists have said, laying the ground for a hike in 2018 after prices accelerated at the fastest pace in 17 months. The central bank has been warning that inflation would make a comeback, ending a period of low levels that let it cut the repo rate by 2 percentage points to the current 6.0 percent over the past two years.

India to bar cryptocurrencies from its payments system

The finance ministry is planning steps to ensure cryptocurrencies are illegal within its payments system. At the same time it is appointing a regulator to oversee unregulated exchanges that trade in "crypto assets," a finance ministry official has explained. A panel set up by the government to look into issues relating to cryptocurrencies is expected to submit its report in the current fiscal year, ending on March 31 according to a Reuters report. The government does not consider cryptocurrencies legal tender and will take all measures to eliminate use of crypto assets in financing illegitimate activities or as part of payment system, Finance Minister Arun Jaitley told parliament

Indigo operator seeks nod to fly to Europe

Interglobe Aviation, the operator of IndiGo, has sought the aviation ministry's permission to fly to key European cities starting October. As reported by Economic Times, In a letter dated January 25, the airline has asked for approval to start flights to Frankfurt, Paris and Gatwick, Manchester and Birmingham in the UK starting October 2018 and to Brussels, Rome, Milan and Zurich in 2019. IndiGo, India's largest airline by passengers carried, said it is open to inducting aircraft such as Boeing's 777 and 787 for its expanded international operations

 

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