Jyoti CNC Automation consolidated net profit rises 9.36% in the March 2025 quarter
Net profit of Jyoti CNC Automation rose 9.36% to Rs 108.97 crore in the quarter ended March 2025 as against Rs 99.64 crore during the previous quarter ended March 2024. Sales rose 27.89% to Rs 575.68 crore in the quarter ended March 2025 as against Rs 450.13 crore during the previous quarter ended March 2024.
For the full year,net profit rose 109.47% to Rs 316.01 crore in the year ended March 2025 as against Rs 150.86 crore during the previous year ended March 2024. Sales rose 35.80% to Rs 1817.70 crore in the year ended March 2025 as against Rs 1338.47 crore during the previous year ended March 2024.
Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 575.68450.13 28 1817.701338.47 36 OPM % 30.8629.73 - 27.0022.48 - PBDT 165.87116.10 43 463.26217.70 113 PBT 155.63107.62 45 426.81184.95 131 NP 108.9799.64 9 316.01150.86 109
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Economic Times
an hour ago
- Economic Times
Ban-battered bike-taxi riders say struggling to make both ends meet
TIL Creatives The bike-taxi ban in Karnataka has battered thousands of gig workers, as a major part of their income has disappeared. About 150,000 bike-taxi riders were estimated to be operating in Bengaluru alone before the high court-imposed ban came into effect June 16. Since then, their income has come down by half, said at least a dozen such gig workers ET spoke with. These workers on bikes typically operate across segments such as bike taxi, parcel services, food delivery and quick commerce. Since they can't carry fare-paying passengers, many of them have switched fully to delivering parcels, food and groceries, causing a glut of riders in the market and affecting the income for gig workers from these sources as well. 'I used to earn Rs 800–900 daily, but now I earn only Rs 400–500. This barely covers my bike's EMI,' said Mohammed Miraj, who has worked as a bike taxi rider in Bengaluru for the past three years. The 24-year-old rode with Uber, Rapido and other platforms to make a the ban, ride-hailing platforms Rapido and Uber renamed their bike service 'bike parcel' and 'moto courier'. This allowed gig workers like Miraj to work as couriers. He now delivers parcels for Uber, Rapido and platforms such as Borzo and Porter. 'But unlike bike taxis, parcel orders are infrequent, and the drivers must travel 10-15 km with no return rides,' he taxi operations account for 40% of India's ride-hailing volumes with Bengaluru having a 15–20% share, industry executives gig economy employed 7.7 million workers in 2020-21, according to a 2022 Niti Aayog report. The gig economy offers flexible jobs through platforms such as ride-hailing, food delivery and courier services. Flexibility factor For Mohammed Salim, a 41-year-old part-time graphic designer, the bike-taxi ban meant losing more than just used to begin his day at 7 am and work till noon, dropping officegoers in the city. He did the same in the evening between 4 pm and 8 pm, taking employees home. When not ferrying people, he would work on graphic designs at home.'The bike taxi not only gave me an opportunity to earn, it also allowed me to follow my passion in graphic design. No other job gives you that opportunity (and flexibility),' he said. 'At this age, who gives a job to a 41-year-old? This ban has completely left me without an income.' Ripple effect With bike-taxi riders moving to other platforms, the earnings of gig workers who primarily focus services such as food and grocery delivery have also taken a hit. Varun (name changed to protect identity), who hails from Bihar and works full time for Zomato in Bengaluru, said his earnings shrank from Rs 11,711 a week before the ban to Rs 5,749. 'Some days I used to earn more than Rs 2,000, but after the ban it has never happened,' he said. 'Riders have increased, which made me lose many orders. Despite me getting the notification (for an order), someone else would go pick it up.' A full-timer at Swiggy said, also on the condition of anonymity, that he used to earn far more money before the ban. Between June 2 and June 8, he worked 46 hours, earning Rs 8,743. This went down to Rs 7,334 after working 56 hours in the week after the ban, his app showed. Miraj, the bike-taxi rider who is now working as a courier, said the loss of earnings and rising costs have forced him to make difficult now earns Rs 400–500 a day. From that, he saves Rs 5,000 every month to pay his bike's EMI of Rs 5,000.'I used to give my mother Rs 500 (every day) from my savings, but today after the ban I hardly even get that much myself,' he said. 'I hope the bike taxi ban is revoked. Let them bring rules — we are ready to follow. It's not just for us; many office-going people used to take our services daily.'In its order in early April, the Karnataka high court said bike taxis could not operate without proper regulations under the Motor Vehicles emails and calls to aggregator companies including Rapido, Ola, Uber, Zomato and Swiggy did not elicit any response. Other job options DriveU, which provides professional car drivers, saw its headcount swell immediately after the ban on bike taxis came into the following fortnight, around 1,200 drivers joined its ranks against 181 in the same period of the previous month, chief executive Rahm Shastry told ET.'We've seen a substantial increase in drivers looking for new opportunities after the bike taxi ban,' said Shastry. 'As more drivers join the platform, our fulfilment rate has also gone up, ensuring better service for our customers.'Earlier, it could only be able to fulfil 65% of the demand due to a shortage of drivers, but now it does 80%, said Shastry. 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Time of India
an hour ago
- Time of India
Ban-battered bike-taxi riders say struggling to make both ends meet
The bike-taxi ban in Karnataka has battered thousands of gig workers, as a major part of their income has 150,000 bike-taxi riders were estimated to be operating in Bengaluru alone before the high court-imposed ban came into effect June 16 . Since then, their income has come down by half, said at least a dozen such gig workers ET spoke workers on bikes typically operate across segments such as bike taxi, parcel services, food delivery and quick commerce. Since they can't carry fare-paying passengers, many of them have switched fully to delivering parcels, food and groceries, causing a glut of riders in the market and affecting the income for gig workers from these sources as well.'I used to earn Rs 800–900 daily, but now I earn only Rs 400–500. This barely covers my bike's EMI,' said Mohammed Miraj, who has worked as a bike taxi rider in Bengaluru for the past three years. The 24-year-old rode with Uber, Rapido and other platforms to make a the ban, ride-hailing platforms Rapido and Uber renamed their bike service 'bike parcel' and 'moto courier'. This allowed gig workers like Miraj to work as couriers. He now delivers parcels for Uber, Rapido and platforms such as Borzo and Porter. 'But unlike bike taxis, parcel orders are infrequent, and the drivers must travel 10-15 km with no return rides,' he taxi operations account for 40% of India's ride-hailing volumes with Bengaluru having a 15–20% share, industry executives gig economy employed 7.7 million workers in 2020-21, according to a 2022 Niti Aayog report. The gig economy offers flexible jobs through platforms such as ride-hailing, food delivery and courier Mohammed Salim, a 41-year-old part-time graphic designer, the bike-taxi ban meant losing more than just used to begin his day at 7 am and work till noon, dropping officegoers in the city. He did the same in the evening between 4 pm and 8 pm, taking employees home. When not ferrying people, he would work on graphic designs at home.'The bike taxi not only gave me an opportunity to earn, it also allowed me to follow my passion in graphic design. No other job gives you that opportunity (and flexibility),' he said. 'At this age, who gives a job to a 41-year-old? This ban has completely left me without an income.'With bike-taxi riders moving to other platforms, the earnings of gig workers who primarily focus services such as food and grocery delivery have also taken a (name changed to protect identity), who hails from Bihar and works full time for Zomato in Bengaluru, said his earnings shrank from Rs 11,711 a week before the ban to Rs 5,749. 'Some days I used to earn more than Rs 2,000, but after the ban it has never happened,' he said. 'Riders have increased, which made me lose many orders. Despite me getting the notification (for an order), someone else would go pick it up.'A full-timer at Swiggy said, also on the condition of anonymity, that he used to earn far more money before the ban. Between June 2 and June 8, he worked 46 hours, earning Rs 8,743. This went down to Rs 7,334 after working 56 hours in the week after the ban, his app the bike-taxi rider who is now working as a courier, said the loss of earnings and rising costs have forced him to make difficult now earns Rs 400–500 a day. From that, he saves Rs 5,000 every month to pay his bike's EMI of Rs 5,000.'I used to give my mother Rs 500 (every day) from my savings, but today after the ban I hardly even get that much myself,' he said. 'I hope the bike taxi ban is revoked. Let them bring rules — we are ready to follow. It's not just for us; many office-going people used to take our services daily.'In its order in early April, the Karnataka high court said bike taxis could not operate without proper regulations under the Motor Vehicles emails and calls to aggregator companies including Rapido, Ola, Uber, Zomato and Swiggy did not elicit any which provides professional car drivers, saw its headcount swell immediately after the ban on bike taxis came into the following fortnight, around 1,200 drivers joined its ranks against 181 in the same period of the previous month, chief executive Rahm Shastry told ET.'We've seen a substantial increase in drivers looking for new opportunities after the bike taxi ban,' said Shastry. 'As more drivers join the platform, our fulfilment rate has also gone up, ensuring better service for our customers.'Earlier, it could only be able to fulfil 65% of the demand due to a shortage of drivers, but now it does 80%, said Shastry. 'We have also raised earnings from Rs 525 to Rs 575 per trip for the driver partners,' he added.
Time of India
an hour ago
- Time of India
Sebi Bars Global Trading Giant Jane Street for ‘Manipulation'
The Securities and Exchange Board of India (Sebi) has barred New-York based trading firm Jane Street from the securities market for allegedly manipulating stock indices through large derivative positions mostly on the Bank Nifty, leading to losses for retail investors caught on the other side of these trades. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Securities and Exchange Board of India Sebi ) has barred New-York based trading firm Jane Street from the securities market for allegedly manipulating stock indices through large derivative positions mostly on the Bank Nifty , leading to losses for retail investors caught on the other side of these one of the toughest punitive actions against an international trader of this size, Sebi has ordered the seizure of what it said were 'illegal gains' made by the company to the tune of ₹4,844 crore ($570 million). This is likely the largest amount thus impounded by the regulator till entities tied to Jane Street Group (JS Group)—JSI Investments, JSI2 Investments, Jane Street Singapore and Jane Street Asia Trading —have been prohibited from dealing in securities, directly or Street has 21 days to file a response.'JS Group is not a good faith actor that can be, or deserves to be, trusted,' Sebi whole-time member Ananth Narayan said in his 105-page, ex-parte, interim order issued on July 3. 'The integrity of the market, and the faith of millions of small investors and traders, can no longer be held hostage to the machinations of such an untrustworthy actor.'The firm disputed the findings of the Sebi interim order and said it will engage with the regulator on the matter. 'Jane Street is committed to operating in compliance with all regulations in the regions we operate around the world,' the company spokesperson said in an emailed regulator examined Jane Street's trades in India between January 1, 2023, and March 31, 2025. During this period, it made over ₹43,289 crore ($5.07 billion) profit in index options and ₹7,687 crore ($900 million) in losses across stock futures, index futures and cash markets on the in New York in 2000, Jane Street is a prominent quantitative trading firm with offices in all the key financial centres of the world. It uses complex algorithms developed in-house to execute high-frequency regulator's finding is that the NSE's Bank Nifty Index —comprising the stocks of India's top dozen lenders—had prima facie been manipulated in a complex and illegal manner aided by the JS Group's immense trading, financial and technological prowess. Jane Street would drive up prices with heavy buying in the morning and send them down through a selling spree later in the day, according to Sebi. It also sought to push index levels down with heavy sell orders close to the option expiry, the regulator found that the Bank Nifty options alone contributed Rs 17,319 crore, amounting to 40% of the total index option's profits.'This is an unusual case where prima facie, multiple liquid stocks with high retail participation have together been manipulated to facilitate the manipulation of the index options market, resulting in massive profits for the manipulators, at the cost of other participants and retail traders,' Sebi said.A detailed investigation is still underway. It would cover other major stock indexes including NSE's Nifty.'It is important to note, however, that this examination has so far been limited to select high-profit expiry days in the Bank Nifty index. There may exist similar patterns in other indices or trading behaviours reflecting alternate strategies which have not yet been analysed. Accordingly, many more trading days may merit detailed investigation to assess the full scope and recurrence of such conduct,' Sebi said in its regulator found at least 15 instances of the JS Group undertaking large and aggressive trades in the underlying Bank Nifty component stocks and futures that wasn't for investment or for any standalone economic rationale. In fact, it said, given the sheer size and aggressive nature of the intervention in cash and futures markets and the immediate reversal the same day, the standalone trades in the cash and futures were more likely to end up showing a large net loss.'These trades were undertaken only to distort Bank Nifty index option prices in the interim and entice market participants in Bank Nifty index options to trade at such distorted levels, while the JS Group would take advantage of this and run much larger opposite side positions in the index options market,' Sebi Street, in an August 30, 2024, letter to Sebi, had argued that these trades were to 'remove unwanted delta' or to 'manage overall delta.'The regulator didn't accept these statements. 'JS Group was undertaking an intentional, well-planned, and sinister scheme and artifice to manipulate cash and futures markets and hence manipulate the Bank Nifty index level, to entice small investors to trade at unfavourable and misleading prices, and to the advantage of the JS Group,' it said. The regulator alleged that the Jane Street Group appeared to be most active on expiry days of index said that by incorporating entities in India, JS Group also managed to 'work around' foreign portfolio investor (FPI) regulations that prohibit such overseas entities from undertaking intraday cash market transactions.'Thereby (Jane Street executed) the manipulative scheme without specifically flouting the FPI regulations," it of the 11,219 FPIs registered with Sebi as of March 31, 2024, only 2.5% are engaged in algorithmic trading, as per regulatory data. JS Group is part of this short-term, algorithmic trading aggressive dumping of Bank Nifty component stocks and futures in sharp reversal of the heavy pumping purchases done in the morning was immensely profitable for the large Bank Nifty option positions being run by the JS Group, and to the detriment of all those that had traded in the morning against JS Group at artificially boosted prices, Sebi said. This was a classic case of 'marking-the-close,' where an entity with huge options exposures that are expiring shortly, is moving the underlying market aggressively in its favour, Sebi Kamath, the founder of discount broker Zerodha, posted on X: 'You've got to hand it to Sebi for going after Jane Street. If the allegations are true, it's blatant market manipulation. The shocking part? They kept at it even after receiving warnings from the exchanges.'He also highlighted that such firms are key to the derivatives market.'Prop trading firms like Jane Street account for nearly 50% of options trading volumes. If they pull back— which seems likely —retail activity (~35%) could take a hit too. So this could be bad news for both exchanges and brokers,' Kamath posted.
