One97 Communications Limited, the parent company of Paytm, on Tuesday reported a 15.7 per cent drop in revenue to Rs 1,911.5 crore for the January-March 2025 period (Q4 FY25), compared to Rs 2,267.1 crore in the same quarter of the last fiscal (Q4 FY24).

The weaker revenue performance comes despite an increase in other income, which rose by nearly Rs 100 crore to Rs 223.8 crore, as per the company’s stock exchange filing.

However, that wasn’t enough to offset broader pressures, and the company reported a net loss of Rs 544.6 crore for the quarter.

This is only slightly lower than the Rs 550.5 crore loss in the same period last fiscal, according to its stock exchange filings.

Hindustan Petroleum Corporation Ltd. (HPCL) on Tuesday reported a standalone net profit of Rs 3,355 crore in for the January-March quarter of financial year 2024-25, which represents an 18 per cent increase over the corresponding figure for the same quarter of 2023-24.

The government-owned oil refining and marketing major’s total income during the fourth quarter came in at Rs 1.19 lakh crore.

Kajaria Ceramics Limited on Tuesday reported a sharp 59 per cent drop in its consolidated net profit for the January-March quarter (Q4 FY25), as sluggish domestic demand and losses from discontinued plywood operations weighed on its performance.

India’s largest tile manufacturer posted a net profit of Rs 43 crore for the fourth quarter, down from Rs 104 crore in the same period last fiscal, according to its stock exchange filing.

The company attributed the decline mainly to Rs 30.79 crore loss from its now discontinued plywood business.

While overall revenue from operations grew slightly by 1.1 per cent year-on-year (YoY) to Rs 1,222 crore, the company said domestic tile demand remained muted due to a slowdown in the real estate sector.

Payments and financial services company Paytm on Tuesday reported a strong performance for the March quarter of FY25, demonstrating continued growth across its core business segments.

The company achieved a revenue of Rs 1,911 crore, reflecting a 5 per cent sequential increase, and marked a significant milestone with EBITDA before ESOP profitability of Rs 81 crore.

The company also made significant progress in profitability, reducing its profit after tax (PAT) loss to just Rs 23 crore, a Rs 185 crore improvement from the previous quarter.

This excludes a one-time ESOP charge of Rs 522 crore. Founder and CEO Vijay Shekhar Sharma has voluntarily surrendered 2.1 crore ESOPs, resulting in a one-time non-cash accounting charge but setting the stage for a substantial decline in ESOP costs from Q1 FY26 onwards.

Bank of Baroda's shares fell sharply by 10.91 per cent on Tuesday after the public sector bank reported weak financial results for the March quarter (Q4 FY25).

Bank of Baroda reported 3.3 per cent year-on-year increase in net profit at Rs 5,048 crore in Q4, from Rs 4,886 crore in the previous quarter (Q3).

The muted increase in Bank of Baroda Q4 net profit was on the back of higher provisions and a weak net interest income (NII).

It reported net interest income (NII) at Rs 11,020 crore in Q4 FY25, down 6.6 per cent from Rs 11,793 crore reported in the year-ago period.

NII was weak even on a quarterly basis as it declined from Rs 11,417 crore seen in Q3 FY25.

The Uttar Pradesh Cabinet has approved the signing of a power purchase agreement (PPA) between the Uttar Pradesh Power Corporation Limited (UPPCL) and Adani Power Limited (APL) for the supply of 1,600 MW of power over a period of 25 years.

APL had secured the bid through a competitive bidding process conducted in October 2024.

The power will be supplied from a new plant that will be set up in Uttar Pradesh.

Uttar Pradesh had launched a tender to source power from a 1,600 MW thermal power plant to be set up in the state.

In February this year, Adani Saur Urja (LA) Limited, a wholly-owned subsidiary of Adani Green Energy, secured a major contract from UPPCL for energy storage capacity.

About 76 per cent of Indians are confident in using artificial intelligence (AI) technologies, a figure far higher than the global average of 46 per cent, a new report said on Tuesday.

The report by KPMG, which surveyed over 48,000 people across 47 countries, highlighted India as a global leader in public trust and adoption of AI.

The report, titled ‘Trust, Attitudes and Use of Artificial Intelligence: A Global Study 2025’, found that India is not only more optimistic about AI but is also more prepared to use it in everyday life and at work.

According to the report, 90 per cent of Indian respondents said AI has improved accessibility and effectiveness in various areas, making it a transformative force in the country.

Shares of electric two-wheeler maker Ather Energy made a muted debut on the stock exchanges on Tuesday, but soon lost momentum, falling over 5 per cent in morning trade.

The stock was listed at Rs 328 per share on the National Stock Exchange (NSE), which was 2.18 per cent higher than its issue price.

On the Bombay Stock Exchange (BSE), it opened at Rs 326.05, marking a 1.57 per cent gain.

However, the early gains did not last long. By 12.15 p.m., Ather Energy shares had dropped 5.5 per cent on the NSE to Rs 309.95 and 5.15 per cent on the BSE to Rs 309.25.

The initial public offering (IPO) of Ather Energy had received lukewarm investor interest, getting subscribed 1.43 times during the three-day bidding period from April 28 to 30.

Led by affordable devices, 5G smartphone shipments accounted for 86 per cent of the overall Indian market in the January-March quarter, marking a 14 per cent annual increase, according to a new report.

Notably, 5G smartphones priced between Rs 8,000 and Rs 13,000 recorded over 100 per cent YoY growth, reflecting surging demand for affordable 5G access, said the report by CyberMedia Research (CMR).

Vivo led the 5G smartphone market with a 21 per cent market share, followed by Samsung at 19 per cent.

The premium segment continued to grow, buoyed by strong demand for 5G-enabled and AI-ready smartphones, said the report.

“The Rs 10,000 and lower 5G smartphone segment witnessed over 500 per cent YoY growth in Q1 2025. This reflects strong consumer appetite for affordable 5G smartphones,” said Menka Kumari, senior analyst at CMR.

Sam Altman-run OpenAI will continue to be overseen and controlled by the nonprofit and its ‘for profit LLC’ will transition to a public benefit corporation (PBC), giving the nonprofit better resources to support several benefits, the company has announced.

OpenAI was founded as a nonprofit, and is today overseen and controlled by that nonprofit.

“Going forward, it will continue to be overseen and controlled by that nonprofit. Our for-profit LLC, which has been under the nonprofit since 2019, will transition to a Public Benefit Corporation (PBC)–a purpose-driven company structure that has to consider the interests of both shareholders and the mission,” the ChatGPT maker said in a statement.

The nonprofit will control and also be a large shareholder of the PBC.