Idea Cellular slashed its employee costs by nearly 40% in the three months from January to March this year, and also reduced several other items of expenditure in a successful attempt to protect its margins from the impact of falling revenue. As a result of the heavy cost cutting ahead of its merger with Vodafone, […]
Bharti Airtel was able to prove wrong all those who predicted that it will post its first quarterly loss in 15 years, as its non-mobile business such as enterprise and tower unit more than made up for the losses from its mainstay wireless telecom operation. The company’s India mobile operations did indeed post an operating […]
Bharti Infratel, the telecom tower company from the Bharti group, reported a modest 4% growth in sales and 2% improvement in net profit due to a loss of tenancies as well as increasing fuel costs. The company’s revenue rose 4.2% on year to Rs 1,673 cr in the fourth quarter, which, however represented a decline […]
Cement maker ACC reported a 14% increase in its sales for the March quarter, boosted by an 8% increase in cement volumes and a 16% jump in ready mix volumes. Lifted by the top line growth, margins improved across the board, lifting net profit by 18.5% to Rs 250 cr for the Jan-Mar period. Sales […]
Private sector lender DCB Bank reported all-round improvement in the bank’s financial performance for the final quarter of FY2018, at a time when the sector is undergoing major stress over bad loans. The bank’s net profit rose to 64 cr for the final quarter from Rs 53 cr in the same quarter a year ago. […]
Sun Pharmaceuticals Ltd, India’s largest drugmaker, reported a 14% decline in its revenue for the December quarter, led by a 35% fall in revenue from the sales of dosages in the US. Net profit fell 75% to Rs 365 cr from Rs 1,472 cr last year and Rs 912 cr in the preceding quarter. Total […]
Tata Power reported a sharp decline in its pretax profit due to costs rising faster than revenue. For the quarter ended December, the company’s revenue increased by about Rs 326 cr to Rs 7,041 cr compared to last year, but total operating expenses rose faster, by about Rs 580 cr on year. As a result, […]
Pune-based real estate developer Kolte Patil Developers reported a 55% growth in its net profit for the December quarter after strong sales lifted margins compared to last year. However, on a sequential basis, net profit fell to Rs 28 cr from Rs 30 cr due to lower non-sales income. New area bookings in Q3 were […]
Ortel Communications (Ortel), the Orissa-based cable and broadband services provider, reported a loss of Rs 6.6 cr for the third quarter as its broadband business was hit by 4G providers and cable business was under competitive pressure from DTH services. The loss of 6.6 cr compared with a loss of Rs 1.5 cr last year, […]
SpiceJet reported a 32% increase in its net profit to Rs 239.99 crore for the three months ended December from Rs 181.14 crore in the same quarter last year. The airline’s capacity grew by 14% during the same period. SpiceJet reported an operating revenue of Rs 2,081.95 crore in the quarter, up 27% on year. […]
Hero Moto Corp Ltd reported modest improvements in its top and bottom lines, with revenue rising by 5.9% and net profit up 4.3%. The company able to keep costs under control, but a dip in non-operating income prevented the gains from trickling through to the bottom line. Against an increase of 5.9% in net sales, […]
JSW Energy Ltd reported a sharp decline in its profit on a sequential basis due to a steep increase in fuel costs, but the company’s numbers were an improvement on a year-on-year basis. The company’s profit before tax fell to just Rs 70 cr from Rs 417 cr in the preceding quarter due to lower […]
Future Retail, the flagship company of the Future Group led by Kishore Biyani, reported an 81% jump in its net profit due to higher operating leverage afforded by increasing revenue and a sharp dip in interest costs. Net profit for October-December rose to Rs 183 cr from Rs 101 cr in the year-ago quarter and […]
Union Bank of India, one of India’s largest state-controlled banks, reported a deterioration in its loan book quality and wider losses for the October-December quarter. The bank posted net loss for Rs 1,250 crore for the quarter, compared to net profit of Rs 104 cr for the same quarter last year. Higher provisions to deal […]
Tata Teleservices Maharashtra, the listed arm of Tata Teleservices that provides telecom services in Maharashtra and Goa, reported better pretax profit margins for the December quarter thanks to lower depreciation charges. Pretax losses narrowed to Rs 385 cr in Q3 from Rs 392 cr in the Q2 and Rs 489 in the year-ago period. Depreciation […]
Info Edge India, which runs websites like jeevansathi.com and naukri.com, reported a 22% year-on-year increase in revenue and but the top line remained flattish on a sequential basis. Margins suffered due to higher advertising costs. Total billing during the third quarter increased 19% on year to Rs 228.3 cr, the company said. Net sales rose […]
Godrej Properties reported a sharp 66% fall in its net profit for the third quarter despite strong sales growth, as it was hit by a sharp increase in its input costs. Net profit fell to Rs 25.94 cr for the three months ended December from Rs 77.24 in the same period last year. In Q2, […]
Two- and three-wheeler maker TVS Motor Company reported strong top line growth for the Oct-Dec quarter riding on robust sales of its two-wheelers, but net profit growth failed to keep up due to higher taxes. The company’s third quarter revenue increased 23.5% on year to Rs 3684.95 crores, while net profit rose 16.3% to Rs […]
IT services company Tech Mahindra reported a 13% sequential jump in its net profit despite modest growth, after it was able to keep costs almost static. Revenue in rupee terms rose 2.2% on quarter. Translated to dollars, it was up 2.5%. Year on year, revenue was up 2.9% in rupee terms and 8.3% in dollar […]
India’s largest carmaker Maruti Suzuki reported a 14% increase in net sales for the third quarter, but net profit increased by only 3% due to a rise in tax expenses and investment losses. Operating profit rose 22% on year. Higher “tax rates and lower non-operating income due to mark-to-market impact on the invested surplus” were […]
