Business Gain

Debt, not coal, earns $ 388 million in profit for Adani

Controversial coal miner Adani Mining posted an annual profit of $ 388.4 million in Australia without selling as much as a bucket of coal, thanks to a stronger Australian dollar against the US greenback. In its financial accounts on file with the corporate regulator, Adani Mining said it generated revenue of just $ 8 million – most of it from ...

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Large companies gain market share, but struggling small companies

The distress faced by unorganized small businesses during the second wave of Covid and the market share gains of large companies that have gone largely unscathed are said to be reflected in their June quarter results. Small businesses suffered under the weight of localized and uneven bottlenecks and shorter opening hours during the first fiscal quarter, affecting operations as well ...

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HDFC Bank Q1: Net Profit Up 16.1%, But Wave 2 Slows Growth Rate

Amid disruption from the second wave of the pandemic, the country’s largest private lender, HDFC Bank, on Saturday reported lower than estimated net profit of Rs 7,730 crore in the June quarter as the quality of bank assets deteriorated. Although the bank’s net profit grew 16.1% year-on-year, the net profit missed the consensus estimate of Rs 7,931 crore by Bloomberg. ...

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