Category: Earnings

Vodafone Idea loss widens on higher interest costs but telco sees rise in ARPU

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Debt-saddled telecom operator Vodafone Idea Ltd on Thursday (May 16) reported a net loss of ₹7,674.6 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Vodafone Idea posted a net loss of ₹6,419 crore, the company said in a regulatory filing. The company’s revenue from operations stood at ₹10,606.8 crore as against ₹10,532 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA stood at ₹4,336 crore in the fourth quarter of this fiscal over ₹4,210.30 crore in the corresponding period in the previous fiscal.

For the year ended March 31, 2024, Vodafone Idea posted a widening loss to ₹31,238.4 crore from ₹29,301.1 crore a year ago. The annual revenue from operations was marginally higher by 1.1% to ₹42,651.7 crore from ₹42,177.2 crore in 2022-23.

Also Read: Akzo Nobel announces final dividend of ₹25 as Q4 net profit rises 14%

The Average Revenue Per User (ARPU) improved to ₹146, up 7.6% on a year-on-year basis vs ₹135 in Q4 of FY23, primarily aided by a change in entry-level plan and subscriber upgrades. The total data traffic for the quarter witnessed a year-on-year growth of 4.3%.

On May 8, 2024, the shareholders approved an equity infusion of ₹2,075 crore on a preferential basis, from an Aditya Birla Group (ABG) entity, at an issue price of ₹14.87 per share.

This coupled with the preferential equity raise of ₹4,940 crore in 2022 from Vodafone Group and ABG takes the total fund infusion by both the promoter groups to ₹7,000 crore between March 2022 and May 2024.

Post the follow-on public offer (FPO), preferential allotment and conversion by ATC, the promoter shareholding stands at 38.2% and the government of India shareholding at 23.8%.

Also Read: Mankind Pharma net profit rockets 65% in Q4, board okays plan to raise ₹7,500 crore

The company said it’s in discussions with a consortium of banks to raise up to ₹25,000 crore and additional non-fund-based facilities of up to ₹10,000 crore. Post the telecom reforms package in September 2021, the company’s bank
exposure has been reduced by ₹34,600 crore

The equity funding and debt funding including non-fund-based facilities are to be utilised primarily towards capex which is expected to be in the range of ₹50,000 to ₹55,000 crore over the next 3 years. The capex will be towards expanding 4G population coverage in 17 priority circles, 5G launch in key cities or geographies and capacity expansion to address the increasing data demand.

The results came after the close of the market hours. Shares of Vodafone Idea Ltd ended at ₹13.15, down by ₹0.040, or 0.30% on the BSE.

Also Read: HAL Q4 Results: Shares at record high after defence major delivers 40% margin

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Triveni Turbine Q4: Profit surges 36%, dividend of ₹1.3 per share declared

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Triveni Turbine reported its financial numbers for the quarter ended March 2024 on Thursday, May 10. The company’s net profit came at ₹75.6 crore, up 36.2% from ₹55.5 crore in the year-ago period. The revenue from operations for the March quarter grew 24% to ₹458.1 crore against ₹369.8 crore in the corresponding period in FY23.

The turbine manufacturer’s earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 35.3% to ₹89.8 crore from ₹66.4 crore last year. The company also announced a final dividend of ₹1.3 per share.

Triveni Turbine’s other income rose to ₹18 crore from ₹10.9 crore earlier. During the quarter, total expenditure, including finance cost, came at ₹320 crore, while finance cost rose to ₹0.6 crore.

The shares of Triveni Turbine closed over 3% in the green on Thursday, May 16, after hitting a 52-week high of ₹612.7 crore earlier in the session. The stock has gained 43.52% in 2024 so far.

Also Read: Biocon declares dividend, drug major’s net profit dives 57%, misses estimate

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

JK Paper declares final dividend of ₹5, quarterly net profit dips slightly, revenue flat

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Paper and packaging board company JK Paper Ltd on Thursday (May 16) reported a 1.7% year-on-year (YoY) dip in net profit at ₹275.6 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, JK Paper posted a net profit of ₹280 crore, the company said in a regulatory filing. The company’s revenue from operations remained unchanged at ₹1,719 crore.

At the operating level, EBITDA tanked 26% to ₹358 crore in the fourth quarter of this fiscal over ₹483 crore in the year-ago period.

The EBITDA margin stood at 20.8% in the reporting quarter against 28.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: Akzo Nobel announces final dividend of ₹25 as Q4 net profit rises 14%

The board of directors has recommended a final dividend of ₹5 per share (50%), on the equity share capital for the financial year ended March 31, 2024. This is in addition to an interim dividend of ₹3.5 (35%) per equity share declared and paid during FY24.

Harsh Pati Singhania, Chairman and Managing Director, said, “Significant increase in raw material cost and lower realisation across all categories have impacted performance during the quarter and year as a whole. The selling prices continued to remain under pressure due to an increase in imports. However, sales volumes grew by 2.3% in paper and boards during the year and the company continues to focus on operational efficiencies.”

Also Read: Crompton Greaves declares dividend of ₹3, net profit up 6% in Q4

He added, that the board of directors at its meeting held today (May 16) has approved the acquisition of a balance of 15% equity shares of its subsidiary companies Horizon Packs Private Ltd (HPPL) and Securipax Packaging Private Ltd (SPPL). Following this acquisition, HPPL and SPPL will become wholly-owned subsidiaries of the company.

The results came after the close of the market hours. Shares of JK Paper Ltd ended at ₹350, up by ₹4.85, or 1.41%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Berger Paints MD: Margin will remain in 15-17% range, rural areas driving demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Berger Paints India reported its financial numbers for the quarter ended March 2024 on Wednesday, May 15. The company reported a 19.5% year-on-year rise in consolidated net profit at ₹222.6 crore against ₹185.7 crore in the year-ago period. Berger Paint’s consolidated revenue from operations rose 3.1% to ₹2,520.3 crore, up from ₹2,443.6 crore in the March 2023 quarter.

In a conversation with CNBC-TV18, Abhijit Roy, MD & CEO, Berger Paints highlighted that there has been an improvement in the demand in the rural areas, in tier-3, 4, and upcountry towns. “As we see it today this demand is likely to continue. So in the first half, I think we should see sustainable volume growth happening.”

Consolidated earnings before interest, tax, depreciation, and amortisation or EBITDA fell 4.8% to ₹361.1 crore during the quarter under review, while the consolidated EBITDA margin stood at 14%. The board also recommended a dividend of ₹3.50 per equity share.

Also Read: Info Edge Q4 Results: Board recommends a dividend of ₹12 per share

The company has gained overall market share in the previous year. “Our objective is for the last two years, we have gained about 0.7-0.8% and that’s something which we will continue to do, hopefully this year as well,” Roy said.

Roy asserted that the margin will hover in the 15-17% range. “We have always said that the margin will hover between 15-17% and that’s where we will remain,” he said.

The stock ended 1.2% higher on Thursday, May 16. The share has fallen 18.7% in 2024 so far.

Also Read: Akzo Nobel announces final dividend of ₹25 as Q4 net profit rises 14%

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Biocon Q4 Results | Revenue, margins beat estimates, net profit declines

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Biotechnology firm Biocon Ltd on Thursday (May 16) reported a 56.77% year-on-year (YoY) drop in net profit at ₹135.5 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Biocon posted a net profit of ₹313.2 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹179 crore for the quarter under review.

The company’s revenue from operations increased 3.8% to ₹3,917 crore compared to ₹3,773.9 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted a revenue of ₹3,840.8 crore for the quarter under review.

Also Read: Akzo Nobel announces final dividend of ₹25 as Q4 net profit rises 14%

At the operating level, EBITDA fell 8.2% to ₹916 crore in the fourth quarter of this fiscal over ₹997.3 crore in the corresponding period in the previous fiscal.

Adjusting for the licensing income of ₹175 crore and a gain of ₹109 crore on account of Bicara stake dilution, in Q4 of FY23, Revenue in Q4FY24 reported an increase of 8% and EBITDA growth of 9%. The CNBC-TV18 poll had predicted an EBITDA of ₹826.5 crore for the quarter under review.

The EBITDA margin stood at 23.4% in the reporting quarter compared to 26.4% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 21.5% for the quarter under review.

Biosimilars

Biocon Biologics Ltd’s FY24 revenue crossed $1 billion, up 58% at ₹8,824 crore. For Q4 of FY24, revenue stood at ₹2,358 crore, up 12% year-on-year.

“Q4FY24 performance was strongly led by Biologics that delivered the promised billion-dollar annual revenue milestone marking the successful transition of the biosimilars acquisition from Viatris,” Biocon Executive Chairperson Kiran Mazumdar-Shaw said.

Increased market shares of key products in the US, Europe and emerging markets coupled with significant volume growth were the highlights of the biosimilars business the quarter, she added.

“During the year, we reduced our acquisition debt. We also entered into a long-term strategic collaboration to distribute our products in India while retaining exclusive supply rights,” Biocon Biologics Chief Executive Officer and Managing Director Shreehas Tambe said.

The board has recommended a final dividend at the rate of 10% i.e. ₹0.50 per equity share of face value of ₹5 each for the financial year ended March 31, 2024, subject to shareholders’ approval at the ensuing annual general meeting.

Also Read: Crompton Greaves declares dividend of ₹3, net profit up 6% in Q4

The company has fixed Friday, July 5, 2024, as the record date for determining the entitlement of members to the final dividend for the financial year ended March 31, 2024. The dividend will be paid on or before September 6, 2024.

Further, based on the recommendation of the Nomination and Remuneration Committee (NRC), the board approved the re-appointment of Kiran Mazumdar Shaw as an executive director (designated as an executive chairperson) of the company, for a period of five years commencing from April 1, 2025.

The board also approved the re-appointment of Siddharth Mittal as the managing director of the company for a period of five years effective from December 1, 2024, on terms and conditions like remuneration, subject to the approval of the shareholders of the company.

The results came after the close of the market hours. Shares of Biocon Ltd ended at ₹305.90, down by ₹5.65, or 1.81%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Akzo Nobel announces final dividend of ₹25 as Q4 net profit rises 14%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Paints and coatings maker Akzo Nobel India Ltd on Thursday (May 16) reported a 14% year-on-year (YoY) increase in net profit at ₹108.7 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Akzo Nobel India posted a net profit of ₹95.4 crore, the company said in a regulatory filing. The company’s revenue from operations rose 2.3% to ₹973.4 crore against ₹951.4 crore in the year-ago period.

At the operating level, EBITDA increased 4.5% to ₹161.7 crore in the fourth quarter of this fiscal over ₹154.7 crore in the fourth quarter of the previous fiscal.

Also Read: Mankind Pharma net profit rockets 65% in Q4, board okays plan to raise ₹7,500 crore

The EBITDA margin stood at 16.6% in the reporting quarter compared to 16.3% in year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend of ₹25 per equity share for financial year 2023-24. This final dividend would be paid if approved by the shareholders at the forthcoming 70th annual general meeting.

The total dividend for 2023-24 aggregates to ₹75 per share, including an interim dividend of ₹50 per share, as approved by the board on February 6, 2024, and paid subsequently. July 25, 2024, has been fixed as the record date for determining entitlement of members to final dividend for the financial year ended March 31, 2024.

Also Read: NCC Q4 Results | Net profit rises 25%, declares dividend of ₹2.20 per share

Rajiv Rajgopal, Akzo Nobel India Chairman and Managing Director, said, “Building on our record growth trajectory for the third straight year, Akzo Nobel India closed FY24 with new highs in absolute performance across revenue, gross margin, EBIT from operations and PAT.”

“We are committed to enhancing value for its shareholders. The board of Akzo Nobel India has proposed a final dividend of ₹25/- per share subject to shareholders’ approval, taking the recommended total dividend for FY24 to ₹ 75/- per share,” Rajgopal said.

The results came after the close of the market hours. Shares of Akzo Nobel India Ltd ended at ₹2,553.10, up by ₹1.30, or 0.051%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

M&M to invest ₹27,000 cr in three years; revenue from SUVs jumps 36% in FY24

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian auto manufacturer Mahindra & Mahindra announced on Thursday, May 16, its expansion plan for the internal combustion engine (ICE) and electric vehicle (EV) segments. The company claims to be the number one SUV player in the country, with revenue from the category climbing 36% in FY24. The automaker will invest ₹12,000 crore in EVs through its investment in Mahindra Electric Automobile Limited (MEAL), a wholly-owned subsidiary of the company.

For the period between FY25 and FY27, the company has set a total auto investment plan worth ₹27,000 crore. M&M will invest ₹8,500 crore on ICE SUVs, ₹4,000 crore on commercial vehicles (which includes electric commercial vehicles and Mahindra truck and bus divisions), and ₹1,500 crore in the sustenance plan.

M&M will also launch at least 23 new models until the period ending in 2030. These include nine ICE SUVs (of which three are mid-cycle enhancements, including the recently-unveiled XUV3XO and six new SUVs), seven battery electric vehicles (BEVs), and seven light commercial vehicles  or LCVs (including five ICE and two EVs).

The company will invest around ₹12,000 crore in MEAL. Hence, M&M’s investment in new products and capacity for auto and MEAL will reach about ₹26,000 crore.

SUVs: Up and beyond

In the quarter ended March 2024, SUV market share of the company rose by 80 basis points (bps) year-on-year (YoY) to 20.4%, while for FY24, market share from the vehicle category spiked 130 bps YoY to 20.4%.

In terms of volumes, in the last quarter of FY24, M&M SUVs saw a rise of 14% YoY to 2.15 lakh. In the fiscal year ended March 2024, the company registered an 18% YoY growth at 8.25 lakh in terms of volume. These numbers also include sales made by Mahindra Last Mile Mobility Ltd (MLMML).

The automaker is aiming for an average monthly SUV exit capacity of 64,000 for FY25. The FY25 exit capacity includes an increase in SUV capacity (Thar 5D, XUV3XO/400) and EV capacity by 5,000 and 10,000 units, respectively.

The overall SUV monthly exit capacity is expected to increase further by 8,000 EV SUVs by the end of FY26, which is nearly 3.5 times the exit capacity in FY20.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Info Edge Q4 Results: Board recommends a dividend of ₹12 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The board of Info Edge (India) Ltd on Wednesday, May 16, recommended a final dividend of ₹12 per share after the company’s net profit for the fourth quarter of the 2023-24 fiscal fell 1.2% sequentially to ₹211 crore. 

In its earnings report for the fourth quarter of the 2023-24 financial year, the company clocked 2.2% higher revenue from operations, amounting to ₹608 crore. On a year-on-year (YoY) basis, the revenue increased 7.9%, while it’s net profit increased 17.9%. 

In the entire fiscal, the company reported that its net profit surged 102.6% to ₹833 crore, while revenue rose 10.3% to ₹238 crore. Info Edge’s consolidated net profit for the March quarter fell 60% sequentially to ₹60.39 crore. Revenue from operations rose 4.8% to ₹657 crore.

In a regulatory filing, the company reported other income of ₹72.81 crore, up from ₹65.02 crore reported in the previous quarter. The company’s total expenditure, including finance cost, stood at ₹383 crore as against ₹377 crore in the third quarter. The finance cost came in at ₹4.67 crore, compared to the ₹4.59 crore reported in the preceding quarter.

The company also reported a one-time loss of ₹12.14 crore during the quarter. The company’s public expenditure barring that for goods and services (tax outgo) for the March quarter came in at ₹74.52 crore, higher than the preceding quarter’s ₹70.14 crore.

Also read: Vedanta declares first interim dividend of ₹11, approves ₹8,500 crore fund raise

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Crompton Greaves declares dividend of ₹3, net profit up 6% in Q4

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Electrical consumer durables company Crompton Greaves Consumer Electricals Ltd on Thursday (May 16) reported a 5.5% year-on-year (YoY) increase in net profit at ₹138.4 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Crompton Greaves Consumer Electricals posted a net profit of ₹131 crore, the company said in a regulatory filing. The company’s revenue from operations increased 9.5% to ₹1,961 crore compared to ₹1,791 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rose 4% to ₹203.6 crore in the fourth quarter of this fiscal over ₹211.8 crore in the year-ago period. The EBITDA margin stood at 10.4% in the reporting quarter compared to 11.8% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: Mankind Pharma net profit rockets 65% in Q4, board okays plan to raise ₹7,500 crore

Crompton Greaves has been reporting a consistently strong Q4 ECD (electrical consumer durable) performance with revenue growth of 14.3% year-on-year and EBIT margin of 17.2% (excluding EPR impact).

The broad-based performance across categories comprise 13% YoY growth in fans, 9% YoY in pumps and 27% YoY in appliances. The company said it crossed the milestone of selling more than two crore fans during the year, with double-digit volume growth.

The company crossed a milestone of 10 lakh units of mixer grinders in FY24 leading to strong growth of 39% in small domestic appliances. Alternate channels continue to be a growth driver with 31% YoY growth in Q4 led by e-commerce.

Butterfly Gandhimathi Appliances

Butterfly Gandhimathi Appliances, a subsidiary of Crompton Greaves Consumer Electricals, saw its revenue decline by 11% year-on-year. The revenue and profitability impacted by one-time settlements and extraordinary items. Core categories revenue sustained along with stable market share and regional chain stores continued to grow for the fourth consecutive quarter.

Dividend

The board has recommended a final dividend of ₹3 per equity share of ₹2 each (fully paid-up) for the financial year ending March 31, 2024, which shall be payable subject to the approval of shareholders at the ensuing AGM.

Also Read: Jindal Stainless Q4 Results | Steel major declares dividend of ₹2, net profit dips

The dividend, if passed, will be paid on or after Tuesday, July 29, 2024, but within 30 days from the date of the AGM. The record date for the purpose of determining the entitlement of dividends will be Wednesday, July 10, 2024.

The results came after the close of the market hours. Shares of Crompton Greaves Consumer Electricals Ltd ended at ₹338.60, up by ₹0.70, or 0.21%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Cosmo First expects specialty chemicals business to drive growth this year

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Pankaj Poddar, Group CEO of Cosmo First, expects revenue from the specialty chemicals business to grow by over 20% this year with expansion in margins.

Specialty chemicals will be roughly 7-10% of the group turnover, he said.

“Overall, all the R&D efforts that we had been putting in last two-three years have started to pay off now. And there’s a very healthy pipeline of products that should also up and hitting the market. So, this year, we expect the revenue should be somewhere in the range of specialty chemicals of ₹250 crore and at the same time, the EBITDA margin should start hitting double digit numbers.”

In January-March, Cosmo First’s revenue dipped 10% year-on-year to ₹641 crore. The earnings before interest ,tax, depreciation, and amortisation (EBITDA) margin was down to 2.7% from 8.6% last year. The profit dipped 52% to ₹15 crore.

There was a marginal decline in specialty margins per kilogram during FY24, which was attributed to changes in the product mix. However, they anticipate this trend to normalise in FY25.

There was an improvement in the biaxially oriented polypropylene (BOPP) films margin starting from March ’24.

In terms of volume breakdown, BOPP volumes accounted for 88% while biaxially oriented polyethylene terephthalate (BOPET) films volumes comprised 12% in FY24.

In the first quarter this financial year, the outlook for BOPP margin remains steady.

Poddar also expects improvements in gross merchandise value (GMV) in the pet care business with the possibility of reaching breakeven.

Poddar also expects a healthy increase in same-store sales growth for the pet care business and is launching private labels to enhance online margins.

However, he cautioned that achieving breakeven in the pet care business might take another year or two.

Poddar estimates a growth rate of 18-20% in pet care.

The company, which has a market capitalisation of ₹1,537.32 crore, has seen its shares decline 8% over the last year.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow