Buisiness

BENGALURU: Food and grocery delivery platform Swiggy’s revenue from operations rose 35% year-on-year to Rs 15,227 crore, driven by double-digit growth in food delivery and a doubling of Instamart’s order value.Its net loss widened to Rs 3,117 crore for FY25, from Rs 2,350 crore in the corresponding period last year, as the company sharply ramped…

India abstained from voting on IMF loan package for Pakistan NEW DELHI: India raised concerns during Friday’s International Monetary Fund’s Executive Board meeting regarding IMF’s financial assistance to Pakistan. While abstaining from voting, India said, “Pakistan has been a prolonged borrower from the IMF, with a very poor track record of implementation and of adherence…

Bank of India reported a robust 82% year-on-year increase in its net profit for the January-March 2025 quarter, reaching Rs 2,626 crore. This surge was primarily driven by significant treasury gains and a substantial rise in recoveries from written-off accounts.The bank’s core net interest income (NII) grew by 2% to Rs 6,063 crore, while other…

Citing sustained structural reforms, improved fiscal metrics, and macroeconomic resilience, global rating agency Morningstar DBRS has upgraded India’s sovereign credit rating to ‘BBB’ with a stable trend.The agency said the rating revision reflects India’s strengthened economic fundamentals, supported by continued infrastructure investment, digital transformation, and a more robust banking sector.“The upgrade reflects Morningstar DBRS’s view…

India raised concerns about the IMF’s assessment of Pakistan’s prolonged use of its resources. (AI image) India-Pakistan tensions: India on Friday raised concerns over IMF bailout packages and programs for Pakistan at the International Monetary Fund’s Executive Board meeting. “Pakistan has been a prolonged borrower from the IMF, with a very poor track record of…

India has sufficient supplies of petrol, diesel, and LPG, and there is no need for panic buying, top oil companies said on Friday, following rising tensions with Pakistan.State-run firms — Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) — issued separate statements assuring the public of adequate fuel stocks and normal operations….

State Bank of India (SBI) and seven other lenders announced on Friday the sale of 20 percent of their combined stakes in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for Rs 13,483 crore, marking the largest cross-border investment in the Indian banking sector. Upon completion of this transaction, SMBC will become the single…

Food delivery and quick commerce major Swiggy reported a sharp rise in its consolidated net loss to Rs 1,081.18 crore for the March quarter, nearly double the Rs 554.77 crore loss recorded a year earlier.The surge in losses was driven by aggressive investments in its quick commerce vertical, Instamart.Despite the widening losses, Swiggy’s revenue from…

US President Donald Trump on Friday floated slashing tariffs on China to 80% ahead of a weekend meeting, signaling a possible move to ease tensions in the ongoing trade war.“80% Tariff on China seems right! Up to Scott B,” Trump posted on Truth Social referring to Treasury Secretary Scott Bessent, who is one of the…

The recent uptick in Basmati rice prices is driven by increased international demand and not linked to geopolitical tensions between India and Pakistan, according to the All India Rice Exporters Association (AIREA).AIREA President Satish Goel clarified that the export prices of Basmati varieties 1509 and 1718 have seen a slight rise since March due to…