Bharti Airtel on Tuesday said its net profit during the October-December quarter declined 27% sequentially to Rs 830 crore (after exceptional items), missing Street estimates. In the preceding quarter, the country’s second-largest telecom operator had booked a one-time gain of Rs 722 crore on account of spectrum sale to Reliance Jio. Adjusting for this, the net profit in the preceding quarter would have stood at Rs 594 crore. During the December 2021 quarter, the net profit before exceptional gain was Rs 807 crore.

National Aluminium Company Ltd (Nalco) on Monday said its December quarter consolidated profit surged over three times to Rs 830.67 crore.

The company had posted a profit of Rs 239.71 crore for the year-ago period, Nalco said in a filing to BSE.

Income during the quarter increased to Rs 3,845.25 crore over Rs 2,414.95 crore in the year-ago period, the filing said.

The company paid final dividend of Rs 1 per equity share amounting to Rs 183.66 crore for 2020-21. With this, the total amount of dividend payout for 2020-21 is Rs 3.50 per equity share — interim dividend of Rs 2.50 per share and final dividend of Rs 1 per share amounting to Rs 644.27 crore.

(With inputs from agencies)

During her 'digital' Budget speech on February 1, Union Finance Minister FM Nirmala Sitharaman briefly touched upon the headwinds into GST while lauding the highest-ever revenue collection of Rs 1,400 billion in January 2022. 

However, the details lie in the fine print, and Finance Bill 2022 does leave enough for the tax professionals to put the proposals under the microscope. 

The GST proposals appear to introduce rigorous restrictions on credit availment by linking it to accurate and timely compliance, credit availment and payment of tax liability at the supplier's end, of which the recipient has no control. 

Meta, formerly known as Facebook, lost $251 billion of value on Thursday. It was a record single-day loss for any company in US history.

That's more than Netflix, at $180.1 billion, is worth; it's more than Nike, at $229.8 billion, is worth; and more than McDonald's, at $194.8 billion, is worth.

In fact, it's more than the value of 477 of the 500 companies in the benchmark S&P 500 index, according to Companiesmarketcap.

Reliance Industries Limited (RIL) has submitted a revised resolution plan to National Company Law Tribunal (NCLT), Ahmedabad, to acquire the debt-ridden Sintex Industries Ltd for an offer of Rs 2,700 crore to Rs 2,800 crore to the financial creditors, said sources aware of the development.

The Mukesh Ambani-led RIL has reportedly entered into a partnership with Assets Care & Reconstruction Enterprise (ACRE) for the bid to acquire Sintex, said sources.

The RIL offer includes payment to financial creditors and equity infusion for working capital requirements, said sources.