Chopra takes over as CMD of PFC
Parminder Chopra has been appointed as Chairman and Managing Director (CMD), of Power Finance Corporation Limited (PFC) by Govt of India w.e.f. 14th August, 2023. Previously, she was holding the additional charge of Chairman and Managing Director (CMD), w.e.f 01.06.2023 and was Director (Finance), PFC since August 2020. With this, Chopra becomes the first woman to lead India's largest NBFC, PFC. During her term as Director (Finance), she spearheaded the Finance Division, leading to highest net profit, highest net worth and lowest NPA levels. Such robust financial performance has also facilitated PFC getting the highest status of “Maharatna”. She had also played a key role in the successful implementation of INR 1.12 trillion Liquidity Infusion Scheme (LIS) for the power distribution sector, which was rolled out as part of Atmanirbhar Bharat initiative by Govt. of India.
Airtel Payments Bank revenue grows 41 pc to `400 cr
New Delhi: Airtel Payments Bank on Thursday said its revenue witnessed a year-on-year growth of 41 per cent to Rs 400 crore in the first quarter ended June 30, 2023 The unlisted entity of Bharti Group said that its profit grew by 143 per cent on a year-on-year basis without disclosing the actual number. “For the first time, the Bank's quarterly revenue grew to Rs 400 crore for the first quarter (Q1) of financial year (FY) 2024, an increase of 41 per cent YoY. For the Q1'FY24, the Bank's profits grew by 143 per cent on YoY,” the company said in a statement.
Tata Play reports a net loss of `105.25 cr in FY23
New Delhi: Leading DTH system operator Tata Play has reported a net loss of Rs 105.25 crore for the fiscal ended March 2023, according to financial data accessed by the business intelligence platform Tofler.
The company reported a net profit of Rs 68.6 crore in FY22, as per the data. Its revenue from operations slipped 5.1 per cent to Rs 4,499.19 crore from Rs 4,741.07 crore a year ago. Tata Play (earlier knowns as Tata Sky) is not a publicly listed entity. However, it has earlier this year received approval from the capital market regulator Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs).
Magicpin to provide tomato at Rs 50 per kg at select ONDC platforms
New Delhi: Hyperlocal e-commerce firm Magicpin on Thursday said it will provide tomato for Rs 50 per kilogram at select online apps like Paytm and Pincode available at ONDC network in collaboration with National Cooperative Consumers Federation of India.Magicpin said that till date, it has facilitated the delivery of approximately 20,000 orders for 40,000 kilograms (kg) of tomatoes across more than 90 pin codes in and around Delhi-NCR in just 4 weeks at Rs 70 per kilogram (Kg), and henceforth, tomato will be shipped at a lower price of Rs 50 per kg.”The latest reduction to Rs 50 per kg will further benefit the consumers, where essential commodities are facing price fluctuations.”