Idea Cellular reported a 12.8% sequential decline in gross revenue in the third quarter, while average revenue per user or ARPU fell by 13.6% to 114 rupees. However, the decline was less than that reported by bigger peer Airtel. Against the 13.6% fall in ARPU reported by Idea, Airtel’s ARPU had declined by 15% during […]
Battery and electrical goods maker Eveready Industries India said it will float a joint venture the Wings Group of Indonesia to enter the market of fast moving consumer goods (FMCG) in India. Eveready will acquire 30% shares in the new company, with the remaining held by Universal Wellbeing Pte. Ltd, part of the Wings Group. […]
JMC Projects, the construction arm of Kalpataru Power Transmission, said it won six orders totaling Rs 751 crores. Out of the five, three are residential, two commercial and the other one industrial. Out of the three residential projects, two are in North India and one in South India. Both commercial buildings are being built in […]
Reliance Jio said it hosted the first ever India Digital Open Summit at its corporate park in Navi Mumbai. Despite having a lot of users, India has very few regular open source events, and the most prominent of them, FOSS.IN, was last held in 2012. Reliance Jio’s support comes in the context of the company […]
Havells India, one of India’s best performing companies and an electrical goods maker, reported an 11% like-for-like revenue growth for the third quarter and a sharp increase in profit margins. In the second quarter, the company was able to report only a 4% increase in comparable sales. The company’s comparison quarter last year had been […]
Reliance Capital, the financial services arm of the Anil Ambani Group, said its insurance unit, Reliance Nippon Life Insurance, signed up state-owned Bank of Maharashtra as a corporate agency to distribute its products. The Anil Ambani Group company said partnership further will increase distribution fee revneue for the bank. “Bank of Maharashtra with its extensive […]
Lost in the details of the financial and technical data disclosed by Reliance Jio on its third-quarter performance was a tiny bullet point announcing that the company had broadcast a pan-India stream over eMBMS. eMBMS or enhanced Multimedia Broadcast Multicast Service is a hybrid technology that tries to marry the traditional one-to-many broadcasting architecture used […]
Information Technology services provider Wipro Ltd reported a year-on-year decline in its quarter three revenue to Rs 13,669 cr from Rs 13,688 cr in the year-ago period. In the preceding September quarter, revenue was at Rs 13,468 cr. Total IT services revenue was at Rs 13,682 cr versus Rs 13,469 cr in the preceding quarter […]
Bharti Airtel CEO Gopal Vittal said he believes the worst is over as far as the company’s revenue decline is concerned. During the last three months of 2017, Airtel saw the highest ever decline in both its India mobile revenue as well as per-user revenue as it struggled to compete with new entrant Reliance Jio. […]
Bharti Airtel CEO Gopal Vittal today said that the current levels of pricing in the Indian telecom market was ‘clearly unsustainable’ and will have to be raised. “These levels of pricing are clearly unsustainable, therefore pricing will have to be lifted,” he said, discussing Airtel’s third quarter results. “But there’s a fight for market share […]
NIT Technologies said third-quarter revenue increased 2.6% sequentially to Rs 756.5 Crores, an increase of 9% on year. Operating Margins expanded 97 bps sequentially to 17.1% as a result of growth in Digital engagements in US and EMEA. Operating profits expanded 8.7% on quarter and 11.4% on year to Rs 129.5 Crores. Net profit improved […]
North Indian newspaper publisher DB Corp reported disappointing results for the third quarter as its key revenue sources, advertising, saw a abnormal decline during the quarter. Revenue from print advertisements declined by 5.8% despite the comparison being with a quarter that was ravaged by demonetization. Print advertising revenue fell to Rs 378 cr from 401 […]
Engineering services provider L&T Technology Services said it won a $50 million (Rs 320 cr) contract to provide engineering and R&D services to “leading aerospace electronic systems manufacturer” for five years. The company, a listed subsidiary of Larsen & Toubro, did not name the client. It said the project will result in transformation of the […]
Hindustan Unilever, the country’s largest fast-moving consumer goods maker, reported a 17% increase in its like-to-like top line and an 11% growth in sales volumes for the October December period when compared to the previous year. The previous year’s sales were disrupted by demonetization. The total revenue, including tax, generated by the company rose to […]
Zee Entertainment Enterprises, the country’s largest listed media company, reported a whopping 30% jump in advertising sales in India as the comparison period of last year was hit by demonetization. Domestic advertising revenue was at Rs 11,373 mn (Rs 1,137 cr) on a like to like basis, excluding the sports business that was sold to […]
Bharat Heavy Electricals Limited (BHEL) said it won a Rs 2,800 cr order from Maharashtra State Power Generation Company (MAHAGENCO) to set up a 660MW coal-based thermal power project in Bhusawal Thermal Power Station in Maharashtra. It will be set up as an expansion project (Unit 6) of the existing power station. The 1,420 MW […]
Real estate developer Puravankara Ltd said it has started taking ‘expressions of interest’ from buyers for its upcoming ‘affordable’ housing project at Judicial Layout, Kanakapura Road, Bangalore. Provident Park Square is being taken to market through a quasi-book building method. Under this, price bands are announced for each type of property and interested buyers can […]
Bharat Forge, India’s largest exporter of auto components, said it opened a research and development facility at MIRA Technology Park in the UK to design powertrain solutions for Electric Vehicles. The powertrain refers to components such as the transmission that converts the engine’s power into movement. So far, much of the research on EVs were […]
Ashok Leyland, the auto arm of the Hinduja Group said it signed a Letter of Intent (LoI) with Phinergy, an Israel-based company that is developing Aluminium Air batteries for long-range vehicles. Unlike lithium ion batteries, which need to be recharged after 200-500 km, a vehicle that uses aluminum air battery can run for several thousand […]
Gravita India Limited, one of India’s biggest recycling companies, said it won a Rs 250 cr order from inverter manufacturer Luminous Power Technologies, a unit of Europe-based Schneider Electric. The order will be executed during 2018, the company said. “It will help the company to strengthen its top line and bottom line in coming FY […]
