Business
RInfra Q4 net profit falls to Rs 918 cr; company appoints Vijesh Babu Thota as CEO
The company had reported a net profit of Rs 4,387.08 crore in the same quarter a year ago, Reliance Infrastructure said in an exchange filing on Friday.
During the latest January-March period, the company’s total income fell to Rs 4,154.34 crore from Rs 4,268.05 crore recorded in the fourth quarter of the preceding 2024-25 financial year.
Expenses, which include multiple components, increased to Rs 5,419.87 crore in the reporting period from Rs 4,827.97 crore in the corresponding quarter of FY25.
The cost of power purchased during the said quarter increased to Rs 3,285.68 crore from Rs 2,739.62 crore in the January-March period of 2024-25.
For the entire FY26, the net profit dipped to Rs 2,900.23 crore from Rs 4,937.52 crore recorded in FY25.
The annual income came down to Rs 20,862.03 crore in FY26 from Rs 23,999.29 crore in the preceding fiscal.Meanwhile, the company has announced the appointment of Vijesh Babu Thota as the Chief Executive Officer (CEO) effective May 23. Thota was the company’s Chief Financial Officer (CFO).
The company has approved the appointment of Asheesh Chaturvedi as the new CFO.
Reliance Infrastructure is one of the largest infrastructure companies, developing projects in sectors such as power, roads, metro rail and defence.
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Federal health officials are urging parents to immediately stop using a popular organic infant formula after three babies were hospitalized with botulism in a multistate outbreak linked to the product.
The Centers for Disease Control and Prevention said all three infants consumed Nara Organics Whole Milk Organic Infant Formula before becoming ill.
The babies, who ranged in age from 2 to 5 months, were hospitalized and treated with BabyBIG, the FDA-approved treatment for infant botulism.
The cases were reported in California, Pennsylvania and Washington, according to the CDC.
POPULAR PET FOOD BRAND HALTS PRODUCTION AFTER FDA WARNS OF POSSIBLE DANGEROUS CONTAMINATION
Federal health officials are urging parents to stop using Nara Organics Whole Milk Organic Infant Formula after three infants were hospitalized with botulism. (Food and Drug Administration / Unknown)
Nara Organics on Friday recalled all lots and can sizes of its Whole Milk Organic Infant Formula, and federal health officials are investigating whether the product was the source of the outbreak.
Testing of opened and unopened formula samples is underway, with results expected in the coming weeks.
Nara Organics confirmed the recall in a statement posted on its website.
THREE MAJOR HOSPITAL SYSTEMS ACCUSE CVS OF SECRETLY SIPHONING HUNDREDS OF MILLIONS IN DRUG SAVINGS
Three infants were hospitalized with botulism in a multistate outbreak linked to recalled Nara Organics infant formula, according to the CDC. (Nathan Posner/Anadolu Agency via Getty Images / Getty Images)
“Stop using all Nara Organics infant formula immediately,” the company wrote. “We are heartbroken for the concern and stress this may cause your family.”
The formula is sold nationwide through Target stores, Target.com and Nara.com.
The CDC advised parents and caregivers to throw away or return any unopened cans of the recalled formula.
FDA ISSUES HIGHEST-RISK RECALL FOR ALFREDO SAUCE SOLD IN 41 STATES
Three infants ranging in age from 2 to 5 months were hospitalized after consuming the recalled formula, federal health officials said. (iStock / iStock)
Officials said opened cans may be retained and stored separately if an infant develops symptoms, as state health departments may request samples for testing.
According to the CDC, infant botulism occurs when spores from Clostridium botulinum bacteria enter a baby’s digestive tract and produce a dangerous toxin.
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Early symptoms can include constipation, difficulty feeding, a weak or altered cry and loss of head control.
Parents should seek immediate medical attention if an infant who consumed the recalled formula develops symptoms including poor feeding, difficulty swallowing, decreased facial expression or loss of head control, health officials said.
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These reports, excerpted and edited by Barron’s, were issued recently by investment and research firms. The reports are a sampling of analysts’ thinking; they should not be considered the views or recommendations of Barron’s. Some of the reports’ issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed.
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Nara Organics infant formula recalled after 3 babies get botulism
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