SpiceJet Ltd on Friday reported its highest profit in the June quarter. The profits were generated, from the other incomes including reimbursements from Boeing Co. for the revenue loss due to the grounding of 737 Max aircraft. Other than expanding SpiceJet’s fleet size to cater to more routes and passengers, the profit was also due to the higher passenger traffic following the grounding of Jet Airways. According to the airline, the stand-alone net profit of the company rose to Rs 261.7 crore in June quarter from a loss of Rs 38.1 crore in the corresponding period of the previous fiscal year. Polled by Bloomberg, the result beat the estimates compiled by six brokers. Bloomberg expected it to report Rs 137.50 crore in profit. In April, SpiceJet benefited from an expansion plan following the grounding of cash-strap

In India with ineffective strategies and investment decisions, it is the first-mover advantage, US e-commerce giant eBay incorporation is preparing to gain a stronger foothold in its second invasion focusing on cross-border opportunities. Now onwards, the company focused on the cross-border opportunities we have with ‘eBay.in’ and ‘Paytm Mall.’ In 2013, eBay made an investment in Snapdeal putting $133.77 million in the e-commerce firm the following year. But after four years, eBay recorded $61 million in losses from the Snapdeal deal, as per its annual report. Earlier eBay.in’relaunch in January, the company has turned its attention to enabling India’s small- and medium-sized businesses export their products to eBay’s 182 million customers worldwide. Read EquityPandit's Nifty Outlook for the WeekÂ

redBus is seeing growth and the next level is coming for international business when there is a platform for online ticketing. redBus is already present in Singapore, Malaysia and Indonesia, among others. International markets contribute 7% of its overall revenue. redBus is currently evaluating opportunities in Vietnam, Thailand and Turkey. Progressively, international expansion strategies turn into global markets to tap into the next level of growth. Further, expanding to foreign lands redBus is also looking at curating pilgrimage packages for its users, which they believe could be another growth driver for the platform. Founded in the year 2006, redBus is India's largest online bus ticketing platform that has transformed bus travel in the country by bringing ease and convenience to millions of Indians who travel

E-tickets bought through IRCTC will get more costly as the Indian Railways has decided to restore service fee charges, almost three years after they were withdrawn to promote digital payments, a pet project of the Narendra Modi-led BJP government. The Finance Ministry of Railway Board has contended that the scheme of service charges was a temporary one and that the railway ministry could begin charging on e-tickets. The Railway Board has given its approval to the Indian Railway Catering and Tourism Corporation (IRCTC) to restore the mechanism of charging service charge from passengers booking online tickets. IRCTC saw a 26 per cent drop in Internet ticketing revenue in the financial year 2016-17 after service charges were discontinued, IRCTC used to levy a service charge of Rs 40 for every AC ticket and Rs 20 o

Apple Inc. is offering cybersecurity researchers up to $1 million to detect flaws in iPhones, the largest reward offered by a company to defend against hackers, at a time of rising concern about governments breaking into the mobile devices of dissidents, journalists, and human rights advocates. Unlike other technology providers, Apple previously offered rewards only to invited researchers who tried to find flaws in its phones and cloud backups. At the annual Black Hat security conference in Las Vegas on Thursday, the company said it would open the process to all researchers, add Mac software and other targets, and offer a range of rewards, called ‘bounties’, for the most significant findings. The $1 million reward would apply only to remote access to the iPhone kernel without any action from the phone's

Soon after the death of Cafe Coffee Day founder VG Siddhartha, the board of Coffee Day Enterprises Ltd (CDEL), the holding company of Coffee Day group firms, decided on Thursday to sell the group’s 90-acre technology park in Bengaluru to reduce CDEL’s debt burden. Two people with direct knowledge of CDEL’s board discussions confirmed this, adding that New York-based private equity giant Blackstone Group is one of the top contenders to buy the Global Village Park, which is owned by Tanglin Developments Ltd, a unit of CDEL. The CDEL board met on Thursday to deliberate on three key issues—a potential sale of Coffee Day group assets to pare debt; ways to ensure smooth continuation of CDEL’s businesses after Siddhartha’s death; and to appoint a forensic audit firm to verify the authenticity of the lette

The nation is going to be addressed by Prime Minister Narendra Modi at 8 pm today. After two days of Parliament resolution revoking certain provisions of Article 370 which granted special status to Jammu and Kashmir, while passing a bill that divides the state two union territories. It is expected that Modi will make an attempt but try to explain the impact of the decision on the country but also to start a dialogue with the people of Jammu and Kashmir. The state of Jammu and Kashmir has been divided into two union territories one is Ladakh without a legislature, and another one is Jammu and Kashmir as per the reorganisation of the bill. Pakistan is putting pressure on the US to come out with a stronger statement as Washington turns to Pakistan to help reach a pact with the Taliban. The last time when PM Naren

The industrial survey conducted by the Reserve Bank of India (RBI) throws some light on why Indian businessmen worried about the future and what are they worried about the most. The survey sought a response from 1,231 companies. The business sentiment indices show that Indian manufacturing companies are satisfied with the current environment, but are cautious on the prospects of the coming quarter. The expectations index has dropped to 112.8 for the September quarter from 113.5 for the June quarter. Companies are extremely pessimistic about the cost of funding and are also less optimistic than before on availability of funding. This shows the dent from the ongoing liquidity crisis among non-bank finance companies. Besides funding, companies are worried that they won’t be able to sell their wares like the