Mark-to-market losses, oil & gas companies drag profits; sales growth moderates
Analysts had on average forecast a net profit of 23.21 billion rupees, according to Thomson Reuters data.
Fresh housing supply rose 43 per cent quarter-on-quarter across six cities during January-March to around 80,000 units, mainly driven by a revival in the demand for residential properties, according to proptech firm Square Yards. Technology-led real estate consultant Square Yards sells homes on behalf of builders and facilities home loans to consumers. In its report 'India Residential Overview: Jan-Mar 2022', Square Yards has covered Hyderabad, Bengaluru, MMR (Mumbai Metropolitan Region), Pune, Noida and Gurugram.
Competitive intensity has returned to haunt the telecom sector.
New projects fell 6.3 per cent in the December quarter compared with the September quarter. The value of new projects in the just-concluded quarter was Rs 2.1 trillion, according to the data from Centre for Monitoring Indian Economy (CMIE), which was lower than the Rs 2.2 trillion seen in the September quarter. It is, however, higher than Rs 1.5 trillion recorded for the quarter ended December 2020, the first year of the Covid-19 pandemic. This data ties in with the November data for core sector growth, an index of eight core industries, which grew at its slowest pace since early 2021.
Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
Growth in Apr-Jun collections falls to 4.9% from 19%.
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
Propelled by robust growth in trade and telecommunication, finance and manufacturing, GDP grew by 5.7 per cent to Rs 3,28,837 crore during the first three months of the year 2003-04, even as there was slowdown in agriculture, mining and quarrying.
The real estate sector might have been caught off guard by the second wave of the Covid-19 pandemic, but large listed developers like Godrej Properties and Prestige Estates Projects soldier on undeterred. They aim to have sales bookings of Rs 10,000 crore in the next few years.
Across the world, there are around 150 trials on 5G currently going on and India has lagged behind. The government has now formed a committee which will look exclusively at developing a model for conducting 5G field trials, reports Kiran Rathee.
Gas Authority of India Ltd on Monday reported a 18 per cent increase in its net profit to Rs 365.09 crore
Associated Cement Companies has reported a 122% increase in net profit at Rs 44.14 crore (Rs 441.4 million) for the quarter ended June 30, 2003 as against Rs 19.84 crore (Rs 198.4 million) of the last fiscal.
Net profit stood at Rs 123.2 crore (Rs 1.23 billion) during the quarter ended June 30, 2003 over Rs 11.5 crore (Rs 115 million) during the year ago period, a company statement said.
Asea Brown Boveri has posted a 41 per cent increase in net profit to Rs 8.75 crore (Rs 87 million) for the first quarter ended March 31, 2003 when compared with Rs 6.20 crore (Rs 62 million) for the corresponding quarter last fiscal.\n\n\n\n
Two sectors, fintech and media & entertainment, attracted 45 per cent of total funding by value, led by large ticket deals such as CRED and Dailyhunt.
Key drivers of profitability for Zomato has not witnessed remarkable growth, the management believes the venture will turn profitable in the long term.
'An eerie similarity with 2019 inflation trajectory could now mean that the RBI and market inflation estimates could go awry.'
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
The country's largest bank registered a consolidated net profit of Rs 4,448.15 crore in the same quarter last year.
The pharmaceutical industry is expected to continue with its good performance in the first quarter of 2008-09 with over 25 per cent growth in revenues and about 45 per cent rise in net profit riding on better sales in the domestic and export markets. The industry will gain from the the depreciation of rupee as well.
India Inc's order-books swelled to Rs 37,666 crore (Rs 376.66 billion) in the first quarter of the financial year 2008-2009, up 93 per cent from Rs 19,520 crore (Rs 195.2 billion) for the same period last year. In the fourth quarter of 2007-08, the order-book had increased by 121 per cent to Rs 42,545 crore
Consolidated net sales shot up by 6.87 per cent
Few earnings seasons are awaited with such trepidation as the one for the June 2008 quarter. With the markets in turmoil, the Street is looking to India Inc to bail it out.
The Reserve Bank of India on Friday raised the retail inflation target for the current financial year to 5.7 per cent on the back of rising global prices amidst the ongoing geo-political tensions, even as it expected the prices of cereals and pulses to soften on prospects of good winter crop harvest. "Global food prices along with metal prices have hardened significantly. "Economy is grappling with a sharp rise in inflation... Inflation is now projected at 5.7 per cent in 2022-23 with Q1 at 6.3 per cent; Q2 at 5 per cent; Q3 at 5.4 per cent and Q4 at 5.1 per cent," RBI Governor Shaktikanta Das said while unveiling the first monetary policy review for the current fiscal year.
India's merchandise exports in June rose by 16.78 per cent year-on-year to $37.94 billion while the trade deficit ballooned to a record $25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data released on Monday. The export growth in June moderated from 20.55 per cent in May and 48.34 per cent in June 2021. During the month under review, exports of engineering, pharmaceutical and plastic products recorded negative growth.
The reason is believed to be a 19% increase in interest cost.
The year 2022 saw the Reserve Bank of India (RBI) start acting on the policy repo rate after a gap of two years. The six-member monetary policy committee of the RBI reduced interest rate sharply - by 115 bps - when Covid-19 struck in 2020. In March 2020, days after the nationwide lockdown was announced, MPC in an unscheduled meeting reduced the repo rate by 75 bps, followed by another 40 bps in May. Status quo was maintained for the next two years since the May repo rate hike.
RIL holds 45.43 per cent stake in RIIL as its promoter.
While there were Rs 7.01 trillion worth of new assets in December 2019, this fell 88.6 per cent to Rs 80,000 crore for the three months ending December 2020, shows data from project tracker Centre for Monitoring Indian Economy (CMIE), reports Sachin P Mampatta.
The central government is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said in its India Development Update on Tuesday. High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel. Notwithstanding an increase in spending due to expanded fertilizer subsidies and food subsidies for vulnerable households in response to the commodity price shock, the government is on track to meet its FY22/23 fiscal deficit target of 6.4 per cent of GDP and the general government deficit is projected to decline to 9.6 per cent from 10.3 per cent in FY21/22 and 13.3 per cent in FY20/21.
The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
The company's turnover dipped to Rs 64,990 crore.
The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
Samsung shipped 83.2 million smartphones worldwide and captured 24 per cent market share
The economic growth slowed to a decade low of 5 per cent in the 2012-13 fiscal.
Fund inflows jumped over 77 per cent in the second quarter of 2021 to $7.55 billion compared to $4.26 billion in the first quarter, according to the data collated by Refinitiv, the London Stock Exchange Group's financial markets data and insights arm. However, volume growth was a tepid 8.8 per cent in Q2 at 296 transactions up from 272 in Q1, totalling the counts in the first half to 568, against 365 transaction in the year-ago period. Total inflows in the first half of 2020 were $5.43 billion across 365 deals, while in the first quarter these were $3.92 billion across 183 deals and the second quarter at $1.51 billion across 182 deals, according to Refinitiv.
The rise in illegal imports of the yellow metal has caught the eye of the finance ministry.
Red Bull's double World champion Max Verstappen swept to pole position at the Mexico City Grand Prix on Saturday with his sights set on a record 14th victory of the season.
Spurt in Infosys scrip was significant in sending the BSE benchmark Sensex higher by 119.15 points to 19,795.21 at 0925 hours.
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