Business Briefs

Govt allows export of 1 mn tons sugar in ongoing 2024-25 season

New Delhi: The government on Monday allowed the export of 1 million tonnes of sugar in the ongoing 2024-25 season ending September. “...the Government of India has approved a 10 lakh tonne sugar export quota for 2024-25,” Food Minister Pralhad Joshi said in a post on X. This ensures price stability, supports five crore farmer families and five lakh workers, and strengthens the sugar sector, he added. The Food Ministry has issued an order in this regard, allocating export quota sugar mill-wise. During the last 2023-24 season, exports were entirely restricted due to domestic supply concerns..

IRFC profit rises to `1,631 crore in Q3

New Delhi: Indian Railway Finance Corporation Ltd (IRFC) on Monday reported a 2 per cent increase in net profit to Rs 1,631 crore for the third quarter ended December 2024. The NBFC, under the administrative control of the Ministry of Railways, had earned a net profit of Rs 1,599 crore in the year-ago period. The total income of the company rose to Rs 6,766 crore in the October-December period from Rs 6,740 crore in the year-ago period, IRFC said in a regulatory filing. The total expenses of the Mini-Ratna company during the period under review fell marginally to Rs 5,136 crore from Rs 5,141 crore in the corresponding period a year ago.

Gold trades flat at `82,000/10 gram, silver slides `500 on weak demand

NEw Delhi: Gold prices remained flat at Rs 82,000 per 10 grams in the national capital on Monday, according to the All India Sarafa Association. On Friday, the precious metal surged Rs 700 to settle near a record high at Rs 82,000 per 10 grams. Gold of 99.5 per cent purity traded flat at Rs 81,600 per 10 grams on Monday. However, silver prices decreased by Rs 500 to Rs 93,000 per kg from the previous close of Rs 93,500 per kg on Friday.