
India's Mahindra Holidays posts higher quarterly profit on strong domestic sales
Mahindra Holidays' consolidated net profit rose to 78.7 million rupees ($911,037.80) in the quarter ended June 30.
($1 = 86.3850 Indian rupees)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Independent
22 minutes ago
- The Independent
Beer giant blames price disputes for declining sales
Brewing giant Heineken has reported a significant dip in beer sales, attributing the decline to protracted price negotiations with European retailers. The Dutch company, which also owns Birra Moretti and Amstel, saw its shares fall after revealing a 1.2 per cent slump in beer volumes during the first half of 2025. This downturn was particularly pronounced in Brazil, the US, and across several European markets. European volumes alone plummeted by 4.7 per cent, as major retailers in France, the Netherlands, Germany, and Spain opted to delist the brand in response to planned price increases. Heineken stated that discussions with these retail groups took longer than anticipated to resolve. The challenging trading conditions contributed to a 5 per cent drop in group revenues, reaching 16.9 billion euros (£14.6 billion) for the half-year. The brewer also indicated that US tariffs are expected to further impact company profits. The company said it also saw weaker sales in the US over the period, with beer volumes down by 'high' single digits due to weak consumer sentiment. It comes as the company is set to be impacted by the proposed 15 per cent tariff on all EU products imported into the US. In the UK, net revenues, before exceptional items and amortisation, increased by 'low single digits' over the half. Beers and cider volumes dropped, despite strong growth from its Cruzcampo lager brand. Its Murphy's stout brand also saw further growth after being boosted by improved distribution and new draughts. The brand benefited from supply issues from rival stout brand Guinness late last year following soaring demand. Dolf van den Brink, chief executive and chairman, said: 'We continued to invest in future-proofing our business, strengthening our footprint and brand portfolios, funded by productivity savings. 'Our volume performance improved across all regions in the second quarter and continued to be of high quality.'


Telegraph
23 minutes ago
- Telegraph
Trump to cut Putin's 50-day deadline for ending Ukraine war
Donald Trump has said he will reduce a 50-day deadline he had set for Vladimir Putin to end the Ukraine war. The US president had threatened to impose 'very severe' tariffs on Russia's main trading partners if Putin did not agree to a ceasefire by September 5. 'I'm disappointed in President Putin,' Mr Trump said, speaking alongside Sir Keir Starmer ahead of their meeting at his Turnberry Golf Club in Scotland. 'We thought we had that settled numerous times, and then President Putin goes out and starts launching rockets into some city like Kyiv and kills a lot of people in a nursing home or whatever,' he said. 'You have bodies lying all over the street, and I say that's not the way to do it. So we'll see what happens with that.' He went on: 'We're going to have to look and I'm going to reduce that 50 days that I gave him to a lesser number, because I think I already know the answer, what's going to happen.' Mr Trump had threatened to hit Russia's main trading partners with 100 per cent tariffs earlier this month, which includes China and India. He made the announcement after revealing he would sell billions of dollars worth of weapons to Ukraine via Nato. It also came after Mr Trump stepped up his public criticism of Putin, who he accused of peddling 'bulls–' about wanting to end the war. 'I've been hearing so much talk. It's all talk. It's all talk, and then missiles go into Kyiv and kill 60 people,' he said alongside Mark Rutte, the Nato Secretary General, earlier this month. Russia and Ukraine met in Istanbul on July 23 for a third round of direct negotiations – the first such meeting in more than a month. However, like the two meetings before it, negotiations yielded little results beyond agreements on prisoner exchanges and repatriating the dead. The Kremlin on Friday ruled out any meeting between Putin and Volodymyr Zelensky, the Ukrainian president, but said the Russian president could meet Mr Trump in Beijing in September. It comes after a Russian overnight attack injured eight residents – including a child – in Kyiv. Ukraine's air force said Russia launched 328 drones and seven missiles and that their main target was an air base in Starokostiantyniv.


Reuters
23 minutes ago
- Reuters
Vatican reports 35.5% increase in profit from holdings for 2024
VATICAN CITY, July 28 (Reuters) - The Vatican reported on Monday a 62.2-million-euro ($72.5 million) profit from its financial and real estate holdings last year, up 35.5% from 2023, in a boon to Pope Leo's efforts to close a budget shortfall. The Vatican's central asset management agency, however, also said in an annual report that it had reassessed the total value of its holdings down to 2.6 billion euros from 2.74 billion euros, due to a reassessment of its real estate holdings. The Administration of the Patrimony of the Holy See (APSA) said the reevaluation of its total holdings had taken several years and was partly based on fair value estimates from 2023. Of the total 62.2 million euro profit reported for 2024, 38.1 million euros came through investments, said the statement. The report said the agency had passed on 46.09 million euros for use in the Vatican's general budget, but would retain 16.1 million euros. Leo, elected in May to replace the late Pope Francis, is facing both a Vatican budget shortfall and growing liabilities for the Vatican's pension fund. Although the Vatican hasn't published a full budget report since 2022, accounts approved in mid-2024 included an 83-million-euro shortfall, two knowledgeable sources told Reuters. The shortfall in the pension fund was estimated to total some 631 million euros by the Vatican's finance czar in 2022. There has been no official update to this figure, but several insiders have told Reuters they believe it has ballooned. The Vatican maintains more than 5,400 real estate holdings worldwide, according to the new report. 4,234 of the holdings are in Italy, with 92% of those in the area around Rome, it said. Another 1,200 Vatican real estate holdings are abroad, including in cities such as Paris, Geneva, Lausanne, and London, the report stated. In 2024, the Vatican department reported a profit of 45.9 million euros for 2023. The new report said the Vatican invests its portfolio "with the aim of diversifying investments and spreading out risk." ($1 = 0.8577 euros)