Sterlite Power on Tuesday announced securing new orders worth Rs 2,500 crore during the quarter ended March 31. This takes the company’s cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement. “Sterlite Power has capped off a successful fiscal year FY24 […]
Category: Business Standard
Business Standard
REC logs highest annual profit of Rs 14K crore on lower stressed assets
REC Ltd, which is one of the leading non-banking financial companies (NBFC) in the energy sector, has registered its highest ever annual profit during the financial year 2023-24, owing to a reduction in stressed assets and diversification into newer business areas. During the financial year 2023-24, REC clocked a net profit of Rs 14,019 crore […]
REC Ltd net profit grows 33% to Rs 4,079 crore in March quarter
State-owned REC Ltd on Tuesday posted a 33 per cent rise in its consolidated net profit to Rs 4,079.09 crore during the March quarter on account of higher income. The company had clocked a net profit of Rs 3,065.37 crore during the January-March quarter preceding FY 2022-23, REC said in a regulatory filing. The company’s […]
German carrier Lufthansa looks to strong summer to shake off strike costs
Lufthansa hopes to claw back its strike-related losses in the second half of the year, the German flag carrier said on Tuesday, pointing to a strong summer season with bookings up 16 per cent compared with the previous year. The first quarter is often a loss-making one for airlines, with fewer bookings. However, Lufthansa’s losses […]
Lufthansa, Air France-KLM plan to cut costs after tough first quarter
Two of Europe’s top airline groups, Lufthansa and Air France-KLM, announced plans to cut costs after reporting wider first-quarter losses on Tuesday as they faced high customer payouts due to flight disruptions and labour disputes. The first quarter is often a loss-making one for airlines, with fewer bookings. But this year’s was worse than expected […]
Go First’s lenders consider liquidation after court order on planes
Lenders to India’s Go First will meet later this week to discuss options for the bankrupt airline, including liquidation, after a court order allowed lessors of the aircraft to take back their planes, two bankers with Go First’s creditors said on Tuesday. “There is no value left in the airline after the court order and […]
IndiGo sets up desk for passengers with special needs at Delhi airport
IndiGo on Tuesday said it has set up a desk to facilitate check-in for passengers with special needs at Terminal 1 of the airport in the national capital. “Currently, IndiGo has over 20 specially-abled employees and staff at the Delhi airport, who will also be deployed at these desks for assistance,” the airline said in […]
IndiGo starting to make India a global aviation hub: CEO Pieter Elbers
IndiGo, which placed its first-ever order for widebody planes last Thursday, is now on the path to establish itself as a global aviation player and make India a global aviation hub, said its Chief Executive Officer, Pieter Elbers, on Tuesday. “We have demonstrated over the years that we maintain a cost leadership (lowest unit cost […]
DGCA removes Vistara’s head of training for violating pilot training rules
The vice-president (VP) of Vistara airline’s pilot training was on Tuesday removed by the Directorate General of Civil Aviation (DGCA) over lapses in conversion training of pilots, which involved preparing narrow-body pilots to fly wide-body aircraft. According to sources, Vikram Mohan Dayal, VP, Training, at the full service carrier, has been suspended by the aviation […]
Road execution likely to dip by up to 10% in FY25 , says CareEdge
India’s pace of constructing national highways may be dented by up to 1,250 kilometres in 2024-25 and slow down to 31 kilometres per day, owing to execution challenges for the construction sector, rating agency CareEdge said on Tuesday. “National Highways construction pace is expected to slow down from 12,350 kilometres in FY24 to 11,100-11,500 kilometres […]
Ircon Intl JV bags order worth Rs 1,198 cr from East Coast Railway worth
Ircon International said that its joint venture, Ircon-DRA has been awarded the Letter of award (LOA) from East Coast Railway for the construction of Kottavalasa-Koraput Doubling Project in Andhra Pradesh on EPC mode. The said project includes construction of Kottavalasa-Koraput doubling project from Km. 45.483 to Km. 72.550 from Shivalingapuram Station to Borraguhalu Station in […]
G7 nations reach deal to shut down their coal-fired power plants by 2035
Energy ministers from the Group of Seven (G7) wealthy countries reached a deal to shut down their coal-fired power plants by 2035 at the latest, in a significant step towards the transition away from fossil fuels. “We have an agreement to stop using coal in the first half of 2030’s… it is an historical agreement,” […]