Business News

JLR's full year sales rose by over 20 per cent year-on-year, the company said in a statement on April 8.The rise in sales numbers reflects improved production and sustained demand, the company said.Wholesale volumes at 110,190 units in the fourth quarter (excluding the Chery Jaguar LandRover China JV) were up 16% over the same quarter a year ago, and up 9% compared to the quarter ended 31 December 2023.In comparison to a year earlier, wholesale volumes increased in the quarter for Range Rover (up 22% to 58,280 units), Defender (up 5% to 28,702 units), Jaguar (up 39% to 13,528 units) and Discovery (up 1% to 9,680 units). Retail sales for the fourth quarter were 114,038 units (including the Chery Jaguar Land Rover China JV), up 11% compared to the same quarter a year ago and up 4% compared to the quarter ended 31 December 2023.Compared to the prior year, retail sales in the quarter were up 32% in the UK, 21% in North America, and 16% Overseas. Compared to thecprioryear, retail sales in China were down 9% and down 2% in Europe for the quarter.For the full year ended 31 March 2024, wholesale volumes were 401,303 and retail sales were 431,733, up 25% and 22% respectively compared to the prior year. Wholesale volumes and retail sales were up in all regions compared to the prior year.

Edelweiss Financial Services said its Rs 200 crore public issue of debentures opened on Monday. The non-convertible debentures (NCDs) will have an effective annual yield of 9 per cent to 10.46 per cent. The issue will close on April 23. The NCDs carry fixed coupons and have a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options, Edelweiss Financial Services said in a statement. "Edelweiss Financial Services has announced the opening of the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 1,000 million (base issue size), with a greenshoe option of up to Rs 1,000 million (Rs 100 crore), cumulatively aggregating up to Rs 2,000 million (Rs 200 crore)," it said. At least 75 per cent of the funds raised through the issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the company and the balance amount will be utilised for general corporate purposes, Edelweiss Financial said.