BUSINESS
Only 7% of routes under RCS-UDAN scheme sustainable beyond 3-year concession period: CAG
As on February 9, 2023, after four rounds of bidding under UDAN, 467 routes have commenced, operationalising 70 airports, including two water aerodromes and nine heliports, the Ministry of Civil Aviation said
BUSINESS
CAG flags irregularities in projects under Bharatmala Pariyojana Phase-I, cost overruns in Dwarka Expressway
The auditor has also found deficiencies in the appraisal and approval mechanism proposed to the Cabinet Committee on Economic Affairs
BUSINESS
SpiceJet Q1 results: Airline flies back into black with net profit of Rs 197.5 crore
The revenue for the Q1FY24 came in at Rs 2,003.5, 18.5 percent lower from Rs 2,457 crore in the same period a year ago.
BUSINESS
Concor plans capital expenditure of Rs 600 crore in 2023-24
The logistics major maintained its guidance to improve Exim volume in 2023-24 despite seeing a drop in overall Exim volumes in India
BUSINESS
Maharaja will live on with Air India, to be a part of airline's future: CEO Campbell Wilson
Wilson has said rumours of Maharaja's death are greatly exaggerated and he will live on
BUSINESS
Ircon International aims for Rs 12,000 cr orders, focuses on growth
IRCON Int is also looking at a capital expenditure of Rs 500 crore in 2023-24 as part of its plans to spend around Rs 1,150 - Rs 1,200 crore in the next few years.
BUSINESS
Exclusive: Issues around demerger of SCILAL to be resolved in the next couple of weeks, listing soon: Sources
There were two major hitches to the demerger. One related to the waiver of stamp duty by the Maharashtra government and the other to a letter from an SCI employees’ association to SEBI
BUSINESS
Indian manufacturing industry needs to grow fast to tap into the world's China+1 outlook: AM Naik
Naik highlighted that the current government under the leadership of Prime Minister Narendra Modi, central policies have helped boost manufacturing capacities in India.
BUSINESS
Air traffic under UDAN remains low in Q1 despite bumper sales: Sources
During this period, domestic air traffic climbed 18.6 percent YoY and 9.6 percent from the pre-pandemic Q1FY20.
BUSINESS
IRB Infra is looking at 20% on year growth in toll revenue in 2023-24
Slowdown in exports, e-commerce and even the forthcoming elections will not have a great impact on the company’s bottomlines. The company is in fact, hoping to expand its orderbook and reduce debt in the near term.
BUSINESS
IndiGo to hike salaries of pilots after record breaking Q1FY24 performance
The salary hikes are likely to be in the range of high single-digit to mid-teens increases on the base salaries, senior executives from IndiGo said.
BUSINESS
RITES to aggressively bid for export, consultancy orders: CMD Rahul Mithal
RITES will aim to have 50 percent of its order book from the consultancy segment, said Mithal. The move is aimed at mitigating the miniratna’s fall in revenue from Indian Railways’ inspection segment.
BUSINESS
TCI confident of double-digit growth in FY24 after slower Q1: MD Vineet Agarwal
The logistics and supply chain solutions provider does not foresee any major impact from headwinds in India’s exports and e-commerce segments.
BUSINESS
P&W's engine issues will affect some of our aircraft as well, says IndiGo CFO Gaurav Negi
IndiGo's top management said that initially it expects a "single-digit number" of its aircraft to be impacted by the latest P&W snag.
BUSINESS
L&T CEO says special dividend of Rs 6 being given to honour Chairman A M Naik
The Rs 6 dividend to shareholders is only a token of our affection, esteem and, most importantly, gratitude (towards A M Naik).
BUSINESS
MC Exclusive | Bengaluru's Electronics City Metro Corridor to get its first trains by September: Titagarh Rail MD
All 216 coaches will be supplied to BMRCL by March 2025, of which around 204 will be manufactured at the company's facility in Uttarpara near Kolkata.
BUSINESS
RITES Q1 results: Profit falls 26% to Rs 96 crore in Q1
RITES Q1 earnings: Operating revenue, excluding other income, stood at Rs 503.7 crore in the quarter under review, down 13 percent from Rs 578.33 crore in the year-ago quarter.
BUSINESS
MC Exclusive | Govt to miss target to double ship recycling capacity at Alang, to come up with a new long term plan
The government blames global financial slowdown, cost cutting by shipping cos for missing target and said it will instead focus on a five-year plan to revitalise the industry and offer scope to diversify to reduce dependence on one industry.
BUSINESS
Go First asked to submit flight schedule after signing new agreements with aircraft lessors
Many lessors informed the aviation regulator that they have terminated the old agreements
BUSINESS
L&T Q1 results: Operating margins from infra segment expected to rise from January-March quarter, says CFO
The engineering major's management expects operating margins to improve in the next few quarters but is cautious about slowing ordering activity going ahead due to Union Elections that will take place in 2024.
BUSINESS
Vande Bharat’s growing popularity may lure passengers away from airlines
The biggest impact of the swanky new trains is likely to be on shorter routes. Vande Bharat trains will force airlines to rethink their network strategies, experts say
BUSINESS
Go First, Pratt & Whitney in talks on new lease pact for up to 30 engines
The new lease agreement is being discussed as part of Go First's plans to scale up operations in 2024 once the airline restarts operations.
TRENDS
Delhi High Court rejects Go First's appeal against lessor aircraft inspection
The lessors have now been permitted to carry out inspection in regular intervals.
TRENDS
'Have responded to Go First's proposal today', DGCA tells Delhi High Court
Anjana Gosain, the lawyer who appeared for DGCA, told the high court that they have also pointed out certain short comings in Go First's proposal and the airline's Resolution Professional (RP) is to respond to them in a time bound manner
