Muted topline growth and higher finance costs weigh on performance as agri-value chain platform remains pre-tax profitable during the fiscal year Chennai-based agri-value chain enabler Samunnati reported flat growth in the fiscal year ended March 2025, while continuing to remain profitable at the pre-tax level, according to its consolidated financial statements filed with the Registrar of Companies (RoC). The company’s gross revenue stood at ₹2,434 crore in FY25, marginally higher than ₹2,404 crore in FY24, reflecting subdued growth amid a challenging operating environment. Founded in 2014, Samunnati operates as a specialised agri ecosystem platform, offering both financial and non-financial solutions…
Author: Adarsh Kumar
Jaipur-based non-banking finance company Namdev Finvest has raised $37 million (around ₹324 crore) through a mix of listed non-convertible debentures (NCDs) and external commercial borrowings (ECB), as the lender looks to deepen its MSME lending footprint across rural and semi-urban India. The funding round saw participation from global development finance institutions and impact-focused investors, including FMO, Impact Investment Exchange (IIX), Franklin Templeton Alternative Investments Fund India, and Symbiotics. FMO, the Dutch Entrepreneurial Development Bank, led the round with a $20 million commitment, while IIX’s Women’s Livelihood Bond 7 (WLB7) invested $8 million. Franklin Templeton AIF India contributed $2.3 million, and…
Writing on X could soon come with a seven figure payout. Elon Musk owned social media platform X has announced a $1 million reward for the best performing long form article published on the platform during its next creator payout cycle, marking one of the largest incentives ever offered by a social media company to individual creators. The announcement was made by X’s official Creators account on Saturday. Responding to the post, Elon Musk confirmed the initiative, stating, “$1M prize for the top X article.” According to the official rules published on X’s legal platform, the contest will run from…
State-owned UCO Bank on Saturday reported a 15.76% year-on-year rise in net profit to ₹739.51 crore for the quarter ended December, driven by higher interest income, improved asset quality and lower provisioning. The Kolkata headquartered lender had posted a net profit of ₹638.83 crore in the corresponding quarter of the previous financial year. During the October–December period, the bank’s total income increased to ₹7,521.16 crore, compared with ₹7,405.89 crore a year earlier, according to a regulatory filing. Interest income remained the key growth driver, rising to ₹6,651.84 crore from ₹6,219.96 crore in the year ago quarter, reflecting steady advances growth…
HDFC Bank on Saturday reported a 12.17% year-on-year increase in consolidated net profit to ₹19,807 crore for the quarter ended December, supported by steady core income growth despite margin pressure and higher operating costs. The country’s largest private sector lender had posted a consolidated profit of ₹17,657 crore in the corresponding quarter last year and ₹19,611 crore in the September quarter. On a standalone basis, net profit rose 11.46% year-on-year to ₹18,653.75 crore during the October–December period, according to an exchange filing. The bank’s net interest income (NII), a key indicator of core lending performance, increased 6.4% to ₹32,600 crore,…
From building a ₹1 crore digital product system to making the playbook accessible for everyone In a digital economy flooded with shortcuts and loud promises, Unskip Academy is taking a different route one focused on systems, execution, and long-term thinking. Founded by Vishal Khare and Abdul Wahab, the creators behind Flexi Glitz, Unskip Academy emerged from a simple realisation:most aspiring digital creators don’t fail due to lack of ambition, but due to lack of structured guidance. Before launching the academy, the founders spent years building and scaling their own digital product ecosystem combining digital assets, AI automation, web funnels, and…
Billionaire entrepreneur Elon Musk has escalated his legal battle against OpenAI and Microsoft, seeking damages ranging from $79 billion to $134 billion for allegedly abandoning OpenAI’s original non-profit mandate and misleading him as a founding contributor. The damages claim was detailed in a court filing on Friday, a day after a US federal judge rejected OpenAI and Microsoft’s attempt to dismiss the case, paving the way for a jury trial scheduled for late April in Oakland, California. Claim Tied to OpenAI’s Valuation and Early Contributions According to the filing, Musk argues that he was defrauded of both his $38 million…
The Uttar Pradesh government is preparing to allot nearly 1,000 acres of additional land across multiple nodes of the Uttar Pradesh Defence Industrial Corridor (UPDIC), a move expected to unlock investments of around ₹3,500 crore in the state’s defence manufacturing ecosystem. According to an official government release issued on Friday, the proposed land allotments are part of a broader effort to convert existing investment proposals into executable projects and accelerate Uttar Pradesh’s ambition of becoming a major defence production hub. Boost to Defence Manufacturing Push The state government said the planned allotments would significantly strengthen industrial activity within the corridor…
India’s largest company by market capitalisation, Reliance Industries, reported a largely flat profitability performance in the third quarter of FY26, even as revenue growth remained robust across its diversified businesses. The oil-to-telecom conglomerate posted a consolidated net profit of ₹18,645 crore in Q3FY26, marginally higher than ₹18,540 crore reported in the year-ago period, according to a regulatory filing. On a quarter-on-quarter basis, profit increased 2.6% from ₹18,165 crore in Q2FY26. Revenue Growth Remains Strong Reliance’s revenue from operations rose 10.5% year-on-year to ₹2,69,496 crore, compared with ₹2,43,865 crore in Q3FY25. Sequentially, revenue increased 4% from ₹2,58,898 crore, reflecting steady operating…
State-owned lender Central Bank of India reported a strong improvement in profitability in the third quarter ended December 2025, posting a 32% year-on-year rise in net profit to ₹1,263 crore, aided by lower bad loans and reduced provisioning. The Mumbai-based bank had reported a net profit of ₹959 crore in Q3 of the previous fiscal year, according to a regulatory filing. Total Income and Interest Earnings Rise During the quarter, total income increased to ₹10,969 crore, compared with ₹9,739 crore in the same period last year. The bank’s interest income rose to ₹9,033 crore, up from ₹8,509 crore a year…