Business
Petrol, diesel prices static as global oil situation under watch

Oil marketing companies have continued to provide relief to consumers from rising fuel prices post revision of duties by the central and state governments on Diwali eve.
Accordingly, petrol and diesel prices remained static for the 20th consecutive day on Wednesday under the daily price revision mechanism followed by oil marketing companies.
So, the pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on the Diwali day on November 4 from the previous day’s level of Rs 110.04 a litre, remained at the same level on Wednesday. The diesel price also remained unchanged in the capital at Rs 86.67 a litre.
Even with lower fuel prices, petrol continues to be the most expensive in Delhi among all the NCR cities as the state government has not revised VAT on the petroleum products so far.
In the financial capital Mumbai, petrol continues to be priced at Rs 109.98 a litre and diesel Rs 94.14 a litre.
Prices also remained static on Wednesday in Kolkata where the price of petrol reduced by Rs 5.82 to Rs 104.67 per litre and that of diesel by Rs 11.77 to Rs 89.79 per litre in the first week of November.
Petrol price in Chennai also remained at Rs 101.40 per litre and diesel Rs 91.43 per litre.
Across the country as well, the price of the fuel largely remained unchanged on Wednesday, but the retail rates varied depending on the level of local taxes.
The global crude prices, which has touched a three-year high level of over $85 a barrel on several occasions in the past one month, has softened a bit now to around $ 82 a barrel. Rise in the US inventory and release of strategic oil by few countries has pushed down crude prices, but OPEC+ decision on only gradual increase in production in December could raise crude prices further.
Before price cuts and pause, diesel prices have increased 30 out of the last 61 days taking up its retail price by Rs 9.90 per litre in Delhi.
Petrol prices have also risen 28 of the previous 57 days taking up its pump price by Rs 8.85 per litre.
Since January 1, 2021, petrol and diesel prices have risen by more than Rs 26 a litre before the duty cuts.
The excise duty cut by the Centre on November 3 was the first such exercise since the onset of Covid pandemic. In fact, the government had revised excise duty on petrol and diesel sharply in March and again in May last year to mobilise additional resources for Covid relief measures.
The excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020 and was standing high at Rs 31.8 on diesel and Rs 32.9 per litre on petrol before finally the Centre decided on duty cut .
Business
ACME Solar’s net profit for FY25 crashes over 64 pc to Rs 250.8 crore

Mumbai, May 20: Gurugram-based renewable energy player ACME Solar Holdings Limited has reported a steep decline of over 77 per cent year-on-year (YoY) in its consolidated net profit, which dropped to Rs 122 crore in the March 2025 quarter (Q4 FY25).
The company had posted a net profit of Rs 532.3 crore in the same period last financial year (Q4 FY24), according to its stock exchange filing.
For the full financial year (FY25), ACME Solar’s net profit declined by around 64 per cent to Rs 250.8 crore, compared to Rs 697.7 crore in FY24.
The sharp fall in profits came despite a strong rise in revenue. The company’s revenue from operations in Q4 stood at Rs 486.88 crore, up from Rs 295.16 crore a year ago — marking a YoY growth of nearly 65 per cent.
Total income also increased significantly to Rs 539.2 crore in Q4 FY25, from Rs 318 crore in the corresponding quarter last fiscal — showing a 69.56 per cent rise.
However, finance costs grew to Rs 205.5 crore from Rs 177.3 crore in the same period last fiscal — an increase of around 15.90 per cent.
Depreciation and amortisation expenses also rose sharply to Rs 102.2 crore, up 66.99 per cent from Rs 61.2 crore in Q4 FY24.
Despite the decline in profits, the company highlighted strong operational progress.
Chairperson and Managing Director Manoj Kumar Upadhyay said FY25 was a ‘remarkable year’ for ACME Solar, as it expanded its operational portfolio and commissioned its largest single-location project — a 1,200 MW SECI ISTS solar project.
He added that the company is now witnessing stronger earnings performance, with Q4 revenue rising 70 per cent YoY to Rs 539 crore and EBITDA jumping 118 per cent to Rs 488 crore.
He also stated that ACME’s focus on hybrid and firm-dispatchable renewable energy (FDRE) solutions is making the business more resilient.
Business
Jupiter Wagons’ net profit falls nearly 2 pc in Q4, revenue slips

Mumbai, May 19: Railway wagons and components manufacturer Jupiter Wagons on Monday reported a decline of 1.9 per cent in its net profit at Rs 103 crore in Q4 FY25, down from Rs 105 crore in the same period last fiscal.
The profit before tax (PBT) also declined by 8.26 per cent year-on-year (YoY) to Rs 127.47 crore from Rs 138.95 crore, according to its stock exchange filing.
The company’s consolidated total income also saw a decline, falling to Rs 1,057 crore from Rs 1,127 crore a year earlier — a drop of around 6.2 per cent.
Similarly, revenue from operations decreased by approximately 6.4 per cent, from Rs 1,115.41 crore in the year-ago period to Rs 1,044.54 crore in the last quarter of FY25.
Despite the revenue dip, Jupiter Wagons managed to reduce its total expenses to Rs 923.34 crore in Q4, down 6.4 per cent compared to Rs 986.41 crore in the same quarter last financial year.
However, on a sequential basis, expenses rose by about 1.56 per cent compared to Rs 909.16 crore in Q3.
The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose slightly to Rs 153 crore from Rs 147 crore last fiscal, with the EBITDA margin improving to 14.6 per cent from 13.2 per cent.
Shares of Jupiter Wagons Limited fell by Rs 13.1 or 3.1 per cent to close the intra-day trading session at Rs 408.95 on the National Stock Exchange (NSE) on Monday.
Speaking about the full financial year, Managing Director Vivek Lohia described FY25 as a transformative year for Jupiter Wagons.
He highlighted several strategic wins, including major contracts with Braithwaite for wheelsets.
“The company also secured brake system contracts worth over Rs 215 crore,” Lohia mentioned.
Lohia emphasised the company’s push into electric mobility with the inauguration of a new facility in Pithampur.
“This state-of-the-art plant is expected to drive battery production and supply to Indian Railways and private partners, along with orders for complete Battery Energy Storage Systems (BESS),” he said.
Business
Govt unlikely to renew IndiGo pact with Turkish Airlines

New Delhi, May 19: The government is unlikely to extend the commercial airline IndiGo’s leasing agreement with Turkish Airlines due to strained diplomatic relations following Turkey’s open support for Pakistan after the Pahalgam terror attack and Operation Sindoor launched by India to avenge the killings of 26 tourists.
“The current pact, which enables IndiGo to operate wide-body aircraft on the Delhi-Istanbul route, expires on May 31. The government review is underway and the deal is unlikely to be renewed given the broader diplomatic context,” according to an Media report, citing people in the know.
IndiGo currently operates over 500-seater Airbus A330s on lease from Turkish Airlines for its Istanbul flights. The partnership also includes a codeshare deal that allows IndiGo to sell connections to over 40 destinations in Europe and North America via Istanbul.
On Thursday, IndiGo defended the collaboration, calling it “strategic” and essential for offering Indian flyers long-haul international access.
Apart from the vocal support during the heinous Pahalgam massacre, Turkey has also supplied drones to Pakistan, which were used to attack India during Operation Sindoor.
The issue of renewal of the IndiGo agreement with Turkish Airlines comes up at a time when India is already snapping ties with Turkish businesses and universities.
The government on Thursday revoked the security clearance for Turkish ground-handling firm Celebi Airport Services at Indian airports, due to national security concerns.
The Turkish company handled around 70 per cent of the ground operations at Mumbai airport, including passenger services, load control, flight operations, cargo and postal services, warehouses and bridge operations.
Adani Airport Holdings has also scrapped its agreement with Turkish company DragonPass to provide the latter’s customers access to its airport lounges.
“Our association with DragonPass, which provided access to airport lounges, has been terminated with immediate effect. DragonPass customers will no longer have access to lounges at Adani-managed airports. This change will have no impact on the airport lounge and travel experience for other customers,” the Adani Airport Holdings spokesperson said on Thursday.
Hundreds of Indian tourists have cancelled their trips to Turkey and Azerbaijan as part of the nationalistic backlash against these countries for supporting Pakistan in the conflict with India. Leading online travel booking platforms MakeMyTrip and EaseMyTrip have reported mass cancellations and a sharp drop in Indian tourists wanting to travel to Turkey and Azerbaijan.
Similarly, many Indian universities, including Jawaharlal Nehru University, Jamia Millia Islamia, and Maulana Azad National Urdu University, have suspended academic ties with Turkish institutions.
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