News Broadcasting
Vivendi Universal reduces losses for last year
MUMBAI: France’s Vivendi Universal has anounced that it lost less money last year. It reported a net loss of 1.143 billion euros compared to a year-earlier loss of 23.3 billion euros.
The company’s chairman and CEO Jean Rene Fortou was quoted in a company release saying that the financial results for 2003 had exceeded its guidance.” We reduced our debt from approximately 35 billion euros to 11.6 billion euros. We divested approximately 10 billion euros worth of assets.
“Today, Vivendi Universal is in good working order. In 2003, Vivendi Universal invested 1.6 billion euros of capital expenditures in its core businesses.” As had been earlier reported by indiantelevision in October an agreement was signed by the company with General Electric to combine the assets of Vivendi Universal Entertainment and broadcast network NBC. This will give rise to a new entity NBC Universal. NBC Universal’s 2003 revenues are anticipated to exceed $13 billion. As part of the transaction, GE is expected to pay at closing $3.65 billion of cash consideration, of which Vivendi Universal would receive approximately $3.3 billion. Vivendi will have a 20 per cent stake in NBC Universal.
The 2003 adjusted net income for Vivendi Universal amounted to 349 million euros. This compares with a loss of 514 million euros in 2002. There was an increase of 1,432 million euros in the operating income segment.
Fortou added, ” Our main commitment was to improve considerably our operating cash flow and Vivendi Universal managers have focused successfully on this matter. As a result, our consolidated cash flow from operations grew 64 per cent in 2003 and our proportionate cash flow from operations increased almost four times over the previous year, on a pro forma basis.”
Fortou stated that for the first time in six years the Canal+ Group had recorded a positive operating income. Revenues from the French pay-TV operations, Canal+ Group’s core business, increased by six per cent to 2,813 million euros. Canal+ Group ended the year with nearly 8.1 million subscriptions to its Canal+ pay-TV offerings in France. On the flip side StudioCanal’s revenues went down by 23 per cent to 351 million euros. This is in line with the company¡¦s strategy to be more selective on its movie investments.
The Universal Music Group and Vivendi Universal Games are implementing a strong and determined reorganisation plan. Looking ahead to this year he said, “In 2004, I expect Vivendi Universal to deliver strong growth in its profit, to reach a level of debt below five billion euros at year end and be in a position to distribute dividends to its shareholders in 2005.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
