MAM
Uber appoints Pradeep Parameswaran as its new India head
MUMBAI: Ride-sharing app Uber on Tuesday appointed Pradeep Parameshwaran as its new India and Asia head. The company’s move is in line with its aim to double down on its investment in the country, as it looks to grab market share from home-grown rival Ola (ANI Technologies Pvt Ltd).
Parameshwaran will replace Amit Jain, who has been tasked with heading Uber’s entire Asia Pacific business, including countries such as Australia, New Zealand and North Asia. Jain’s appointment was part of the broader strategy that indicated Uber’s intentions to grab the market as Ola has taken in Australia, which also recently launched its service n that country.
Earlier in an Interview with Livemint, Uber’s chief operating officer Barney Harford said, “The company was considering both internal and external candidates for the role of India head. Uber would continue to invest heavily in India, the ride-hailing company’s most important market outside the US, for an indefinite period rather than focus on cutting the company’s massive losses in India”
Commenting on his new role, Pradeep Parmeashwaran said, “Uber is one of the most exciting, innovative and mission-driven companies in the world, and I’m thrilled to lead our business in this critical global market as we work to bring the benefits of ride-sharing to even more riders, drivers, and cities. After twenty years building businesses and leading through change across Asia and the US, I am excited to shape how the region moves over the next twenty”
Prior to joining Uber, Parmeshwaran was working with Den Network Limited as CEO. He brings with him 20 years of experience, having worked in the US, Asia Pacific and Africa. He has also been associated with companies across the technology value chain including Internet companies, telecom service providers, ISPs, cable/DTH providers, handset manufacturers, network OEMs, IT service providers, software companies and fiber players on multiple functions including strategy, business building, sales acceleration, operations, organization and finance.
Parameswaran’s appointment comes at a time when Uber is engaged in market share battles in the Asia Pacific region against local rivals such as Ola, which is backed by Japan’s SoftBank Group Corp, a common investor in both taxi start-ups.
Rumours of a potential Ola-Uber merger in India have been doing the rounds for the past few months, but both companies have repeatedly denied any such reports.
Brands
Nestlé India posts Rs 45,641 crore profit before tax in FY26
Strong cash flow of Rs 50,475 crore offsets higher costs, payouts.
MUMBAI: If there’s one thing brewing stronger than coffee this year, it’s Nestlé India’s balance sheet. The FMCG major closed FY26 with a solid financial performance, serving up steady growth even as costs and cash outflows kept the pressure simmering. For the year ended March 31, 2026, the company reported a profit before tax of Rs 45,641 crore, up from Rs 43,161 crore in the previous year. The numbers reflect resilience in core operations, supported by a strong consumption backbone across domestic and export markets.
Cash, meanwhile, was anything but idle. Nestlé India generated Rs 50,475 crore in net cash from operating activities, a sharp jump from Rs 29,345 crore last year highlighting robust underlying demand and improved working capital efficiency. Inventory reductions alone contributed Rs 2,809 crore, while trade payables rose by Rs 5,878 crore, adding further liquidity support.
But it wasn’t all smooth sailing. On the investing side, the company deployed Rs 8,297 crore towards property, plant and equipment, even as overall investing cash outflow stood at Rs 6,236 crore. Financing activities saw a significant drain, with Rs 31,794 crore flowing out driven largely by dividend payouts of Rs 23,139 crore and repayment of short-term borrowings.
The balance sheet tells a story of expansion with caution. Total assets rose to Rs 1,31,824 crore from Rs 1,21,933 crore, while equity climbed to Rs 51,569 crore, reflecting improved reserves and retained earnings. Cash and cash equivalents surged to Rs 13,205 crore, a sharp rise from Rs 761 crore a year ago, underscoring stronger liquidity despite heavy outflows.
Operationally, depreciation and amortisation expenses increased to Rs 6,992 crore, while finance costs and provisions continued to shape the cost structure. At the same time, working capital movements especially in inventories and receivables played a key role in boosting cash generation.
The broader takeaway? Nestlé India’s FY26 performance is less about headline growth and more about financial muscle. With strong cash flows cushioning rising investments and payouts, the company appears to be balancing expansion with discipline keeping its books as carefully measured as its recipes.
