Ashok Leyland logs Rs 68 cr net in Q1

Chennai (IANS) Commercial vehicle major Ashok Leyland Ltd closed the first quarter of FY23 with an after tax profit of Rs 68 crore.

According to the company, it had posted a revenue of Rs 7,223 crore for the quarter ended 30.6.2022 (Q1FY22…

Qualcomm sales up 37%, mobile biz crosses $6 bn riding on Snapdragon chips

New Delhi (IANS) Chip-maker Qualcomm has reported a 37 per cent rise in its revenue in the June quarter despite challenging macro-economic environment, announcing the extension of its patent license agreement with Samsung for its Galaxy devices.

Mechanism be brought to curb tax evasion in entertainment sector: Parliament panel

New Delhi (IANS) A Parliamentary standing committee in its report on the Entertainment sector has recommended that a mechanism be brought in place to curb the instances of tax evasion.

"A mechanism be brought in place for continuous review…

Mahindra to ride on immersive Qualcomm tech for new Scorpio-N

New Delhi (IANS) Mahindra & Mahindra on Monday announced a collaboration with chip-maker Qualcomm to bring latest technology advancements for comfortable, safe and intelligent driving experiences in its all-new Scorpio-N vehicle.

The chip-maker…

Consumer IT spending to slide further amid recession fears in Asia-Pacific

Singapor (IANS) The consumer IT spending in the Asia-Pacific region, already taking the brunt in the ongoing tight market conditions, is set to further slide in 2023, depending on the severity of the economic slowdown, according to an IDC report.

Akasa Air to launch commercial operation from August 7

New Delhi (IANS) Akasa Air, the airline promoted by billionaire investor Rakesh Jhunjhunwala, is set to launch its commercial operation with its first flight on August 7 on the Mumbai-Ahmedabad route.

The airline said that it will deploy a…

Tea production in Nilgiris increases by 6.9% due to heavy rain

Chenna (IANS) The Nilgiris district of Tamil Nadu, the largest producer of tea in South India, has witnessed an unprecedented increase in the production after heavy rainfall.

While the production of tea from January 2021 to June 2021 was 7.88…

Rupee depreciates to 80 against US dollar

Chennai (IANS) As predicted earlier, the Indian rupee on Tuesday crossed Rs 80 for a US dollar. The fall in rupee's value is owing to multiple factors like Russia-Ukraine war, outflow of foreign institutional investors and others, said experts.

No GST on food items when sold loose, clarifies Sitharaman

New Delhi (IANS) Following uproar in the Parliament over GST on food items, Union Finance Minister Nirmala Sitharaman on Tuesday defended the imposition of 5 per cent GST on food articles such as cereals, rice, flour and curd, which are pre-packaged…

RBI seeks regulations on cryptocurrencies: Sitharaman in LS

New Delhi (IANS) Finance Minister Nirmala Sitharaman on Monday said in the Lok Sabha that the Reserve Bank of India (RBI) has recommended framing of regulations for cryptocurrencies. The Indian government wants an international collaboration if such…