IndiGrid Investment Managers Ltd has settled a probe by markets regulator Sebi in a case pertaining to the alleged violation of infrastructure investment trust (InvIT) rules after paying Rs 23.4 lakh towards settlement charges. The case related to IndiGrid Investment Managers allegedly using funds mobilised through borrowings for purposes other than the acquisition or development […]
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Sterlite Power bags Rs 2500 cr worth orders in Q4; FY24 wins surge 35% YoY
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 […]
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 […]
Goa airport receives bomb threat email; security beefed up
PANAJI: An email about a bomb at the Dabolim airport in South Goa sent the authorities into a tizzy on Monday, prompting them to increase the security on the premises, a senior official said. Talking to PTI, airport director S V T Dhanamjaya Rao said his office received an email in the morning about a […]