eznews.in
Parag Milk Foods Ltd has reported a remarkable 167% increase in net profits for Q4 FY25, reaching ₹26 crore compared to ₹10 crore in the same period last year, driven by a 16% rise in quarterly revenues to ₹918 crore. For the fiscal year ending March 2025, net profit rose by 31% to ₹119 crore, with total income increasing by 9% to ₹3,432 crore. The growth was fueled by a 17% volume increase in key categories like ghee, cheese, and paneer, while EBITDA surged 30% year-on-year, enhancing margins from 7.2% to 8.5%. Chairman Devendra Shah highlighted the company's commitment to sustainable growth and brand equity through strategic investments and improved governance. Notably, Parag's flagship products, "Gowardhan Ghee" and "Go Cheese," hold significant market shares of 22% and 35%, respectively, while the new Avvatar brand in whey protein and sports nutrition saw a robust 41% growth. 
Published: May 03 2025, 10 ameznews.inThe Indian government has abruptly terminated K.V. Subramanian's tenure as Executive Director at the International Monetary Fund (IMF), effective immediately. Subramanian, who previously served as Chief Economic Advisor, joined the IMF in November 2022. The Appointment Committee of the Cabinet (ACC), led by the Prime Minister, issued the order on April 30 without providing a reason for his dismissal. However, sources indicate that Subramanian's critical remarks regarding the IMF's data accuracy and his working style may have contributed to the decision. In a tweet dated April 6, 2024, he highlighted discrepancies between the IMF's growth rate predictions for India and actual figures, asserting that the IMF's estimates were consistently below the true growth rate. His comments suggested significant errors in the IMF's forecasts, raising questions about the agency's data reliability.
Published: May 03 2025, 9 pmeznews.inIndia has imposed a comprehensive ban on all goods imported from or exported to Pakistan, effective immediately, citing national security and public policy concerns. This decision follows a deadly terror attack in Pahalgam on April 22, which claimed 26 lives, predominantly tourists, with India accusing Pakistan of harboring terrorist groups responsible for the violence. The ban includes the suspension of postal services and the prohibition of Pakistani-flagged ships from entering Indian ports. Trade experts suggest that while the economic impact on India will be minimal, as it does not rely heavily on Pakistani goods, the suspension will significantly affect Pakistan, which depends on Indian imports like pharmaceuticals. This move is seen as largely symbolic, following previous tariffs imposed after the 2019 Pulwama attack, which had already drastically reduced trade between the two nations.
Published: May 03 2025, 3 pmeznews.inIndia is poised to present its groundbreaking rural land reform initiative, the SVAMITVA Scheme, at the World Bank Conference 2025 in Washington, DC, starting May 5. This innovative program, which utilizes drone and geospatial technology, aims to provide legal ownership of property in rural areas, having already issued property cards to 24.4 million households across over 160,000 villages. The initiative has transformed land governance in rural India, unlocking an estimated $1.162 trillion in land value. A high-level delegation, led by Vivek Bharadwaj from the Ministry of Panchayati Raj, will showcase India's success in enhancing property rights and empowering women during two key sessions focused on land tenure and climate action. The conference will gather global leaders to discuss sustainable land-use strategies, with India’s contributions highlighting the intersection of technology, governance, and grassroots development.
Published: May 03 2025, 6 pmeznews.inDesigners are pivotal in creating sustainable packaging solutions, yet convincing consumers to embrace these innovations remains a challenge, according to Nandita Abraham, Dean of BITS Design School. Established a year and a half ago, the school emphasizes design thinking and collaboration, equipping students to tackle sustainability issues in agriculture and supply chains. Abraham highlighted the importance of understanding consumer behavior and the entire product journey from farm to shelf, advocating for systems thinking in design. She noted that while single-layer plastics can be recyclable, consumer preferences often lean towards more complex materials. Current research includes exploring bio-based materials like seaweed and crustacean shells, aiming to enhance product freshness while minimizing environmental impact. Despite growing awareness of climate change, Abraham acknowledged a gap in consumer knowledge about sustainable packaging, emphasizing the need for solutions that protect products while being environmentally friendly.
Published: May 03 2025, 6 pmeznews.inAdani Ports and Special Economic Zone (APSEZ) is set to expand its international footprint by targeting acquisitions of port assets in Africa and South-East Asia, according to CEO Ashwani Gupta. During a recent earnings call, Gupta emphasized the company's strategy to seek ports that align with its growth objectives, aiming for majority stakes to enhance operational control. APSEZ, which currently manages ports in Israel, Sri Lanka, Tanzania, and Australia, recently acquired the North Queensland Export Terminal in Australia. Gupta highlighted significant progress at the Haifa port, including the appointment of key personnel and a long-term agreement with eight labor unions to boost productivity. The company plans a capital expenditure of ₹12,000 crore for FY 2026, focusing on containerized cargo infrastructure, which has driven a rise in market share from 43.8% to 45.5%. APSEZ reported a record cargo volume of 450 million tonnes and a 37% year-on-year increase in profit after tax, reaching ₹11,061 crore.
Published: May 03 2025, 4 pmeznews.inThe Indian stock market saw a positive trend on May 3, 2025, with the SENSEX rising by 259.75 points to close at 80,501.99, while the NIFTY gained 12.50 points, reaching 24,346.70. Crude oil prices remained stable at 4,940.00, although silver experienced a decline of 432.00, settling at 93,151.00. In a separate incident, SriLankan Airlines reported that Flight UL122, arriving from Chennai at 11:59 AM, underwent a thorough security search at Colombo Airport due to an alert from the Chennai Area Control Centre regarding a suspect believed to be on board. Following the inspection, the flight was cleared for further operations, but the security measures caused a delay for the subsequent Flight UL 308 to Singapore.
Published: May 03 2025, 5 pmeznews.inPrivate project announcements in India experienced a significant decline in the financial year 2024-25 (FY25), falling by 9% year-on-year to ₹27 lakh crore, as reported by Avendus Spark. Despite an overall increase in new project announcements across both public and private sectors, which rose by 22.7% to ₹18 lakh crore in the fourth quarter (Q4 FY25), private sector contributions remained lackluster, with only a marginal 4% increase. The report attributed the downturn to weak domestic consumer demand and rising global economic uncertainties, particularly affecting the Services and Construction/Real Estate sectors. Notably, private project completions also plummeted by 31% year-on-year to ₹2.5 lakh crore. However, the Electricity and Renewable Energy sector saw a robust growth of 55%, while Mining surged by an extraordinary 732%. Overall, while some sectors showed resilience, private capital expenditure continues to face substantial challenges.
Published: May 03 2025, 12 pmeznews.inThe Indian stock market saw a modest rise, with the SENSEX closing at 80,501.99, up by 259.75 points, while the NIFTY increased by 12.50 points to reach 24,346.70. In commodities, crude oil prices remained stable at 4,940.00, but silver fell by 432.00 to 93,151.00. Amid ongoing US-China trade tensions, a report from Nomura suggests that Indian auto part manufacturers could benefit as US tariffs on Chinese imports are expected to raise vehicle prices in the US. Despite a 25% tariff on Indian automobiles and auto parts remaining unchanged, the report indicates that global automakers may seek alternatives, potentially boosting India's market share. Additionally, the US has paused tariffs for 90 days for countries willing to negotiate, with India aiming for a bilateral trade agreement by fall 2025, which could enhance its competitive position.
Published: May 03 2025, 12 pmeznews.inIndia's coffee production for the 2025/26 season is projected to reach 6 million 60-kg bags, according to a report from the U.S. Department of Agriculture. Adverse weather conditions, including a dry spell followed by strong winds and excessive pre-monsoon rains, are expected to negatively impact yields. Consequently, farmgate prices for arabica and robusta coffee have surged by 64% and 24%, respectively, since October, driven by global supply issues and reduced output. Despite the challenges in production, domestic consumption is anticipated to rise to 1.4 million bags, fueled by strong demand for soluble coffee. However, this increase in domestic consumption may not fully compensate for a projected decline in exports, which are expected to fall to 6 million bags due to a lower exportable surplus.
Published: May 03 2025, 12 pmeznews.inThe orthodox leaf market has shown resilience, with whole leaf prices firming amid strong demand, as evidenced by a 96% sales rate from 207,374 kg offered. Exporters to the Middle East and CIS countries were notably active, alongside robust upcountry interest. In contrast, the CTC dust market faced challenges, with prices declining by ₹2 to ₹4 during sale 18, resulting in a 78% sales percentage from 560,450 kg offered. Blenders absorbed only 59% of the total CTC quantity, with some withdrawals noted. The orthodox dust market also experienced a downturn, despite achieving 100% sales from 18,500 kg offered, with limited interest from exporters and upcountry buyers. Overall, while the orthodox segment thrived, the CTC leaf market struggled, reflecting a mixed performance in the tea auctions at Kochi this week.
Published: May 03 2025, 12 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact