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ITC Ltd on Thursday reported a consolidated net profit of Rs 3,587.20 crore for the third quarter ended December 2020. The company had posted a net profit of Rs 4,047.87 crore during the October-December period of the previous fiscal, ITC said in a regulatory filing.

The tax department has alleged that online food delivery giant Swiggy and Walmartbacked Flipkart’s logistics arm Instakart relied on fake manpower supply to utilise input tax credit (ITC) and evade GST, senior government sources said.

The income tax (I-T) department conducted surveys at Flipkart Group’s firm Instakart and food delivery company Swiggy in connection with an alleged bogus input tax credit (ITC) connected to an external vendor, sources informed on Thursday.

Consumer goods giant ITC has warned some workers of disciplinary action and pay cuts for missing work during the coronavirus crisis, prompting a showdown with at least two unions, letters from both parties show. The problems at ITC food plants in Pune in Maharashtra and in Karnataka underscore labour issues facing firms in India, where … Continue reading ITC faces union backlash over corona work warnings

Capacity utilisations would revert to reasonable levels in a quarter for hotels-to-FMCG major ITC, which is currently engaging teams to reimagine the future and scenario planning to tackle the adverse impact of Covid-19 on business.

Market benchmark sensex rallied 231.80 points on Wednesday, driven by gains in index heavyweights HDFC Bank, ITC, RIL and Infosys. The 30-share BSE index settled 231.80 points, or 0.57 per cent, higher at 41,198.66. It hit an intra-day high of 41,334.86 and a low of 41,108.19.

The combined market valuation of seven of the top-10 domestic firms rose by Rs 32,020.12 crore last week, with HDFC Bank and RIL emerging as the biggest gainers. TCS, HDFC, HUL, ICICI Bank and Kotak Mahindra Bank were the other bluechips which witnessed a rally in their market capitalisation (m-cap) for the week ended Friday, … Continue reading Seven of top-10 firms add Rs 32,020 crore in m-cap