BUSINESS
IndiGo reports net profit of Rs 1,422 crore in Q3
The airline reported a net profit of Rs 1,422 crore, compared to net profit of Rs 1,298 million (Rs 129.8 crore) as compared to the same period last year marking over 10 times growth. As per the results declared by InterGlobe Aviation Ltd on Friday, total income for the quarter ended December 2022 was Rs 154,102 million, an increase of 62.6 per cent over the same period last year.
Apple now has more than 935 mn paid subscriptions
Apple CEO Tim Cook said that the company achieved double-digit revenue growth from App Store subscriptions and set all-time revenue records across a number of categories, including cloud and payment services. "All told, Apple now has more than 935 million paid subscriptions," Cook informed.
Foreign exchange reserves rise to $576 bn in January
This is the third consecutive week that the country's reserves have risen. During the week ending January 20, the foreign exchange reserves were $573.73 billion. The central bank has been intervening to buy dollars to stabilise the rupee. Apart from this, the valuation changes have also added to the RBI's foreign exchange reserves.
'Criminal conspiracy': Lawyer moves SC seeking a probe into Hindenburg report
American short seller Hindenburg Research's report about Indian billionaire Gautam Adani has led to a stock rout, erasing over $ 100 billion from his empire and pushing him down on the global rich list. The Adani group rubbished the allegations made by the Hindenburg Research.
'IMF giving us tough time', Pakistani rupee plunges after PM Shehbaz's comments
"As we speak, an IMF delegation is in Islamabad [holding parleys on loan programme] and giving a very tough time to the finance minister and his team," the Prime Minister said while speaking at the apex committee meeting in Peshawar, as he termed the economic challenges "unimaginable", Geo News reported.
Amazon's Cloud arm AWS hits annualised sales run rate of over $85 bn
"Starting back in the middle of the third quarter of 2022, we saw our year-over-year growth rates slow as enterprises of all sizes evaluated ways to optimise their cloud spending in response to the tough macroeconomic conditions," said Brian Olsavsky, Chief Financial Officer at Amazon.
Automobile exports record growth of 35.9% from 2020-21 to 2021-22
According to the reply, the Central government has taken multiple measures to promote India's export. Foreign Trade Policy (2015-20) has been extended up to March 31, 2023 and Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended up to March 31, 2024.
9.2 lakh metric tonnes of wheat sold through e-auction by FCI
In the first week of e-auction, quantities ranging from of 100 to 499 million tonnes attracted maximum demand. After this, the demand was for quantities of 500-1,000 million tonnes, followed by that of 50-100 million tonnes, thus indicating that small and medium flour millers and traders actively participated in the auction.
Portion of Adani Group's capex is deferrable: Moody's
Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will impact the group's ability to raise capital. In a note issued on Friday, Moody's said the credit ratings for Adani Ports and Special Economic Zone Limited.
UPI-based transactions hit record 8.03 bn in Jan at Rs 13 tn in value
According to the data by the National Payments Corporation of India (NPCI), the value of transactions hit nearly Rs 13 trillion in January. The volume of transactions was 7.8 billion, and value was Rs 12.8 trillion in December. This milestone proves that the country is now firmly on the path to becoming a digital-first economy.
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