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<keyword id="46212" type="General" weightage="20" keywordseo="suzlon-energy" source="Orion">Suzlon Energy</keyword> registered a 96% decline in consolidated net profit at ₹101 crore in the April-June quarter. The company had registered a consolidated net profit of ₹2,433 crore in the year-ago quarter, an investors' presentation showed. The company's net revenue in the first quarter of this fiscal also came down to ₹ 1,348 crore from ₹ 1,378 crore in the year-ago period. <keyword id="307072" type="General" weightage="20" keywordseo="girish-tanti" source="Orion">Girish Tanti</keyword>, vice-chairman, Suzlon Group, said in a statement, "With the country poised to lead decarbonisation of its economy, we are seeing renewed enthusiasm from India Inc. to drive this green energy transition." J P Chalasani, chief executive officer, Suzlon Group, said in the statement, "At Suzlon, we continue to show stable and steady growth in line with our business plan. With the fruition of our initiatives to strengthen the balance sheet and reduce debt, our focus is now on ramping up our operations to service our cumulative orders, which stand at a healthy 1,582 MW as on date." Himanshu Mody, chief financial officer, Suzlon Group, said in the statement, "Q1 of FY24 takes forward our consistent efforts to consolidate and stabilise our performance over the last few quarters. Q1 FY24 shows YoY (year-on-year) growth and an improvement in overall profitability with a steady performance on all our key parameters." After a sustained effort to reduce debt in 2022-23, which has resulted in a healthier and sustainable balance sheet for the company, our focus in FY24 remains on funding our operations and fulfilling our commitments to customers and other stakeholders, he said. "We continue to maintain strict control on costs and are in the process of further optimising our organisational structure to drive excellence and continual improvement on the strong foundation set with over the last three years," he added.

Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

<keyword id="201453" type="General" weightage="50" keywordseo="sterlite-technologies-ltd" source="Orion">Sterlite Technologies Ltd</keyword> on Sunday unveiled <keyword id="764355" type="General" weightage="20" keywordseo="5G" source="Orion">5G</keyword> Cosmos - an optical solution for towers and small cells for speedy 5G roll out. According to <keyword id="48217" type="General" weightage="100" keywordseo="sterlite-technologies" source="Orion">Sterlite Technologies</keyword>, telecom operators need to look at fiberisation with a futuristic lens. The company said tower fiberisation must increase from about 35 per cent to 80 per cent to provide high quality 5G services. Additionally, 5G will require upto 4X small cells, backhauled with fibre, Sterlite Technologies said. The company said India's fibre space is constrained by deployment speed and scale. 5G Cosmos is an Atmanirbhar, patented solution that can solve these challenges and connect every tower, small cell and node, the company claimed. Launching 5G Cosmos at IMC 2022, Pankaj Miglani, Director <keyword id="6699920" type="General" weightage="50" keywordseo="supply-chain-management" source="Orion">Supply Chain Management</keyword>, <keyword id="6354287" type="General" weightage="50" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, said: "We are readying our infrastructure for 5G and fiberisation is a core need. We are happy to see the use cases that 5G Cosmos can solve for telcos and enable us to deliver a great 5G experience to our customers." Ankit Agarwal Manaing Director, Sterlite Technologies said: "Indian telecom operators are ready to install fibre-dense networks for 5G. This will need an integrated and futuristic solution. We have built 5G Cosmos to enable fiberisation of macro and small cells at scale and achieve the full potential of 5G." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/suzlon-energys-founder-chairman-tulsi-tanti-passes-away-due-to-cardiac-arrest/articleshow/94596261.cms">Suzlon Energy’s founder chairman Tulsi Tanti passes away due to cardiac arrest</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-to-add-80-airports-in-next-4-5-years-new-rules-for-aerodromes/articleshow/94596625.cms">India to add 80 airports in next 4-5 years; new rules for aerodromes</a>

Sterlite Technologies launches optical solution for 5G rollout

<ul class="summary-list"><li>TikToker Jackie Tanti showed how much food and drink $64 got her and a friend at Coachella.</li><li>It wasn't much — just two burritos and two ice coffees.</li></ul>A TikToker shocked her audience with a complaint and how little $64 got her and a friend at Coachella — two burritos and two ice coffees."Just so you all know, these two coffees and two burritos cost us $64," Jackie Tanti said in an 11-second TikTok, which has been viewed <a href="https://www.tiktok.com/@jackietanti/video/7222263986786438442?lang=en" target="_blank" rel="noopener">2.9 million times</a>. "Capitalism really popped off today."Despite saying the exponential prices were the "shittiest part" of the festival, Tanti said the food itself was "actually pretty good." People in the comments were shocked at Tanti's video."This is why I never get jealous when Coachella takes over my feed every year," one person said."I can justify the ticket cost, but not the food, camping or anything else," another person said, referencing the notoriously high price of getting into Coachella. Tickets start at $549 for general admission, with VIP tickets setting people back over $1,000."I think I'd be in debt for the rest of my life if I went to Coachella for a weekend," one viewer mused.Some people shared their own stories with festival food. One person said while at Coachella they bought two seltzers and a soft pretzel and it came to almost $70. "So yeah, sounds [about] right," they said. Another said that while at Rolling Loud, a hip hop festival, they spent "$40 on a bland strawberry lemonade and some chicken tenders."Another person claimed to have spend $50 on "two ice teas."Callie Ahlgrim and Courteney Larocca <a href="https://www.insider.com/coachella-best-worst-things-about-festival-this-year-2023-4">reported for Insider</a> that the price points for normal food and drink options at Coachella were "absurd." They said a single Heineken beer cost $15, and that an order of two hot dogs and two orders of french fries came to $45.Insider's Andrew Lloyd <a href="https://www.insider.com/tiktok-coachella-attendees-share-unglamorous-reality-2023-4#coachella-festival-is-flooding-our-feeds-but-not-all-attendees-are-buying-into-the-aspirational-aesthetic-its-known-for-1">also reported</a> on people have been sharing the realities of attending Coachella, noting that it is "way less glamorous" than people think with huge crowds, massive lines for the bathrooms, and lots of dust.

A TikToker said 2 burritos and 2 ice coffees at Coachella cost her $64, as people share ways the expensive festival disappointed them

The US space agency has pushed back the <keyword id="15143181" type="General" weightage="20" keywordseo="Artemis-I-Moon" source="Orion">Artemis I Moon</keyword> mission launch to November in the wake of Hurricane Ian. As teams complete post-storm recovery operations, <keyword id="6360409" type="General" weightage="20" keywordseo="NASA" source="Orion">NASA</keyword> has determined it will focus Artemis I launch planning efforts on the launch period that opens on November 12 and closes on November 27. "Teams at NASA's Kennedy Space Center in Florida conducted initial inspections Friday to assess potential impacts from Hurricane Ian. There was no damage to Artemis flight hardware, and facilities are in good shape with only minor water intrusion identified in a few locations," the space agency said in a statement. Next, engineers will extend access platforms around the Space Launch System rocket and Orion spacecraft inside the Vehicle Assembly Building (VAB) to prepare for additional inspections and start preparation for the next launch attempt, including retesting the flight termination system. NASA said that over the coming days, managers will assess the scope of work to perform while in the Vehicle Assembly Building (VAB) and identify a specific date for the next launch attempt. "Focusing efforts on the November launch period allows time for employees at Kennedy to address the needs of their families and homes after the storm and for teams to identify additional checkouts needed before returning to the pad for launch," said NASA. Artemis I is NASA's uncrewed flight test which will provide a foundation for human exploration in deep space and demonstrate NASA's commitment and capability to extend human existence to the Moon and beyond. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/suzlon-energys-founder-chairman-tulsi-tanti-passes-away-due-to-cardiac-arrest/articleshow/94596261.cms">Suzlon Energy’s founder chairman Tulsi Tanti passes away due to cardiac arrest</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-5g-services-launched-in-eight-cities-the-entire-country-to-be-covered-by-2024/articleshow/94579199.cms">Airtel 5G services launched in eight cities, the entire country to be covered by 2024</a> <a href="https://www.businessinsider.in/policy/economy/news/the-fed-has-the-world-in-its-hands-and-its-aggressive-moves-are-creating-global-economic-chaos-that-could-come-back-and-hurt-the-us/articleshow/94587248.cms">The Fed has the world in its hands — and its aggressive moves are creating global economic chaos that could come back and hurt the US</a>

NASA pushes back Artemis I Moon mission launch to November

Festive season and new launches geared the passenger vehicle sales last month as car majors in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> logged sales growth last month as compared to the previous year's corresponding month. <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India Limited that makes cars and also light commercial vehicles logged a total sales of 176,306 units last month, up from 86,380 units sold in September 2021. According to Maruti Suzuki, the shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models. Hyundai Motor India Ltd sold 63,201 units last month, up from 45,791 units sold in September 2021. "The PV (passenger vehicle) industry witnessed strong demand during Q2FY23 fuelled by the festive season and new launches. <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> scaled new highs in passenger vehicles with sales of 142,325 units during the quarter, recording a growth of 70 per cent versus Q2FY22," said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. He said last month, the company sold 47,654 units, up from 25,730 units sold during the corresponding month the previous year. On the other hand, the last month sales numbers for <keyword id="20630" type="General" weightage="80" keywordseo="honda" source="Orion">Honda</keyword> Cars India stood at 11,047 units, <keyword id="5985844" type="General" weightage="80" keywordseo="mg-motors" source="Orion">MG Motors</keyword> -- 3,808 units and Skoda Auto India -- 3,543 units. On its part, the <keyword id="6374528" type="General" weightage="80" keywordseo="toyota" source="Orion">Toyota</keyword> Kirloskar Motor said it had sold 15,378 units last month, logging a growth of 66 per cent. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/suzlon-energys-founder-chairman-tulsi-tanti-passes-away-due-to-cardiac-arrest/articleshow/94596261.cms">Suzlon Energy’s founder chairman Tulsi Tanti passes away due to cardiac arrest</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-5g-services-launched-in-eight-cities-the-entire-country-to-be-covered-by-2024/articleshow/94579199.cms">Airtel 5G services launched in eight cities, the entire country to be covered by 2024</a> <a href="https://www.businessinsider.in/policy/economy/news/the-fed-has-the-world-in-its-hands-and-its-aggressive-moves-are-creating-global-economic-chaos-that-could-come-back-and-hurt-the-us/articleshow/94587248.cms">The Fed has the world in its hands — and its aggressive moves are creating global economic chaos that could come back and hurt the US</a>

Auto sales jump in September: Maruti reports over a 100% jump in volumes

<ul><li>Indians are taking more personal and <keyword id="1897540" type="General" weightage="20" keywordseo="consumer-durable-loans" source="Orion">consumer durable loans</keyword>, boosting the overall growth of retail credit in the country.</li><li>Personal and consumer durable loans almost doubled between FY19 and FY22, despite a lull for two years due to Covid-19.</li><li>Tier 2 and lower cities and districts have joined the party, with home loans seeing a surge in these areas due to WFH.</li></ul>Indians are taking more <keyword id="35520" type="General" weightage="100" keywordseo="personal-loans" source="Orion">personal loans</keyword> and buying consumer products on credit than ever before, according to a new report by credit bureau <keyword id="2509365" type="General" weightage="80" keywordseo="crif-high-mark" source="Orion">CRIF High Mark</keyword>. Personal loans, consumer durable loans and business loans carry relatively higher risk for lenders, when compared to home and auto loans. Despite this, personal and consumer durable loans grew at a high CAGR of 25% between FY19 to FY22 – almost doubling in this period, according to a report by Kotak Institutional Equities. Overall, the total lending market in India stood at ₹174.3 lakh crore in FY22, with the retail segment accounting for 48.9% of it. While the overall lending market grew 11.1% in FY22, it has capped off the sluggish growth in FY20 and FY21 – two years highly impacted by Covid-19 and the lockdowns. “FY22 witnessed tremendous growth in new loan originations across retail, microfinance and commercial loans. This resurgence in the credit landscape signals economic recovery and is extremely encouraging,” said Sanjeet Dawar, Managing Director, <keyword id="2302542" type="General" weightage="20" keywordseo="CRIF" source="Orion">CRIF</keyword> High Mark. <cmsannotation type="cmsannotation" annotationid="Economic recovery sounds good, so why are personal loans surging?" comment="subhead" text="Economic recovery sounds good, so why are personal loans surging?">Economic recovery sounds good, so why are personal loans surging?</cmsannotation> An economic recovery sounds like a positive development, but the surge in personal and consumer durable loans might also be hinting at another problem. A surge in these two loan segments suggests people are conserving cash, so they are taking loans and buying products on EMIs to ensure they have enough liquidity. On a positive note however this also suggests two other things – there is a revival in consumer demand, and that people are optimistic about their cash flows, giving them the confidence that they can repay loans on time. “Early warning indicators are at a comfortable level today across all loan segments. Delinquency levels in high-risk segments like consumer durables, personal loans and credit cards are also at a comfortable level today, indicating no reason to be concerned today,” the Kotak report added. This means that both lenders and borrowers are placed securely, and overdue loans are within a comfortable range. <cmsannotation type="cmsannotation" annotationid="Revenge shopping is adding to the surge – and Tier 2+ cities are joining the party" comment="subhead" text="Revenge shopping is adding to the surge – and Tier 2+ cities are joining the party">Revenge shopping is adding to the surge – and Tier 2+ cities are joining the party</cmsannotation> Another factor at play is revenge shopping – lockdowns and Covid-19 restrictions resulted in muted festivities for two years, but everything has opened up in 2022.<a href="https://www.businessinsider.in/business/ecommerce/news/online-festival-sales-likely-to-be-28-higher-than-pre-covid-levels-at-11-8-billion-report/articleshow/94076810.cms"> Experts believe online festival sales could be 28% higher</a> than pre-Covid levels, which suggests that people are itching to shop. Joining the party are people from Tier 2, 3 and 4 cities. “We are forecasting 4x growth in the number of online shoppers from 2018. This growth has been driven by accelerated digital adoption and increasing penetration in Tier 2+ cities,” said Sanjay Kothari, associate partner, Redseer Strategy Consultants. Better yet, this surge is not limited to personal or consumer durable loans – home loans, which have much higher ticket sizes and are relatively less risky than personal loans, have also seen an increase in T3 and T4 districts. According to a<a href="https://www.businessinsider.in/finance/news/home-loans-growing-at-a-faster-rate-in-tier-3-and-4-districts-thanks-to-wfh-sbi-report/articleshow/94393267.cms"> report by SBI</a>, T3 and T4 districts account for 36% of fresh disbursals in FY22, up from 32% in FY19 – thanks to a boom in Work from Home, freelance jobs, and a renewed focus on work-life balance. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/credit-suisse-is-in-trouble-but-this-is-not-2008-investors-remain-wary-of-the-all-is-well-soundbites/articleshow/94641570.cms">Credit Suisse is in trouble, but this is not 2008 – investors remain wary of the ‘all is well’ soundbites</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-remain-buoyant-in-september-with-reports-of-a-good-festive-season-ahead/articleshow/94622721.cms">Auto sales remain buoyant in September with reports of a good festive season ahead</a> <a href="https://www.businessinsider.in/stock-market/news/heres-all-you-need-to-know-about-suzlon-energys-1200-crore-rights-issue-after-founder-tulsi-tantis-death/articleshow/94617068.cms">Here’s all you need to know about Suzlon Energy’s ₹1,200 crore rights issue after founder Tulsi Tanti’s death</a>

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Suzlon Energy Q1 consolidated net profit slumps 96% to ₹101 crore

PTI

Sterlite Technologies launches optical solution for 5G rollout

IANS

A TikToker said 2 burritos and 2 ice coffees at Coachella cost her $64, as people share ways the expensive festival disappointed them

Lindsay Dodgson

NASA pushes back Artemis I Moon mission launch to November

IANS

Auto sales jump in September: Maruti reports over a 100% jump in volumes

IANS

Indians are taking more personal loans, buying consumer goods on credit, says report

Rounak Jain

Auto sales remain buoyant in September with reports of a good festive season ahead

Rounak Jain

Checkout leading candidates names from Assam Assembly election 2021

BI India Bureau

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