The country's GDP is likely to grow at 1.3 per cent in the fourth quarter of 2020-21 and may see a contraction of around 7.3 per cent for the full financial year, according to an SBI research report 'Ecowrap'. The e-National Statistical Office (NSO) will release the GDP estimates for the March 2021 quarter and provisional annual estimates for the year 2020-21 on May 31. "Based on our 'nowcasting model', the forecasted GDP growth for Q4 would be around 1.3 per cent (with downward bias) as against NSO (National Statistical Office) projection of a negative (-)1 per cent," the research report said.
For the three months ended March 31, 2009, the company has losses to the tune of two billion Swiss francs whereas in the year-ago period, the same stood at 11.62 billion Swiss francs, the entity said in a statement on Tuesday.
Showing no immediate signs of recovery, the American economy shrank at staggering rate of 6.1 per cent in the first three months of 2009, one of the worst contractions in decades.
Bosch Ltd, a supplier of automotive components to original equipment makers, has reported 69.4 per cent drop in net profit to Rs 49.3 crore for its first quarter ended March 2009, compared with the corresponding quarter last year. Its net sales for the quarter dropped 20.6 per cent to Rs 991.6 crore.
For fast-moving consumer goods, growth is likely to be tepid.
As large-scale layoffs begin at Facebook's parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging "this is especially difficult if you're here on a visa" and offering support to those impacted. Meta announced that it is laying off 11,000 employees or 13 per cent of its workforce, with Zuckerberg describing it as "some of the most difficult changes we've made in Meta's history." US-based technology companies hire a large amount of H-1B workers, the majority of whom come from countries such as India.
Even as raw material prices start cooling off from their peaks, fast-moving consumer goods (FMCG) companies' margins are expected to remain under pressure at least in the next quarter. This is because commodity prices continue to remain high year-on-year (YoY). Consumer companies will also continue to increase rates as they have been taking price hikes in a staggered manner. They have not yet passed the entire price increase of raw materials to consumers.
U.S. economic growth braked more sharply than expected in the first quarter.
Monetary Policy Committee keeps key interest rate (repo) unchanged at 4% for 7th consecutive time; Consequently, reverse repo rate too remains unchanged at 3.35%; Bank rate also remains same at 4.25%;
India's GDP is estimated to grow at 7.4 per cent in the financial year 2022-23 with rising prices triggered by the Russia-Ukraine conflict posing as the biggest challenge to the global economic recovery, Ficci's Economic Outlook Survey released on Sunday said. According to the survey, the Reserve Bank of India (RBI) is likely to start a rate hike cycle in the second half of 2022, while a repo rate hike of 50-75 bps is expected by the end of the current fiscal. The RBI is expected to continue supporting the ongoing economic recovery by keeping the repo rate unchanged in its April policy review, the survey said.
BSES Ltd, now Reliance Energy Ltd, has declared a 10 per cent dividend for the quarter ended June 2003, making it the first listed Indian company to pay quarterly dividend.
Lupin Ltd has reported a 38.36 per cent rise in net profit at Rs 28.06 crore (Rs 280.6 million) for the first quarter ended June 30, 2003 as against Rs 20.28 crore (Rs 202.8 million) for the corresponding quarter last fiscal.
Indian Oil Corporation said on Wednesday that its net profit has surged by 51.5 per cent for the quarter ended June 2003 to Rs 944.67 crore (Rs 9.45 billion) from Rs 624.99 crore (Rs 6.25 billion) in the same period last year.
Zee Tele has reported a 3% increase in net profit at Rs 17.07 crore (Rs 170.7 million) for the quarter ended June 30, 2003 when compared with Rs 16.60 crore (Rs 166 million) last fiscal.
Higher volume and tight control on costs has led Mahindra & Mahindra Ltd to post a 450 per cent jump in net profit at Rs 42.5 crore.
Hinduja TMT on Thursday reported a 21 per cent increase in net profit to Rs 17.23 crore (Rs 172.3 million) for the quarter ended June 30, 2003 when compared with the corresponding period last fiscal.
Commercial vehicles major Ashok Leyland has reported a 51.9 per cent increase in its net profit at Rs 14.81 crore (Rs 148.1 million) in the first quarter ended June 30 as against Rs 9.75 crore (Rs 97.5 million) in the same period last year.
UTI Bank Ltd has posted a 45.02 per cent increase in its net profit at Rs 52.18 crore (Rs 521.8 million) for the first quarter ended June 2003 as against Rs 35.98 crore (Rs 359.8 million) for the corresponding quarter last fiscal.
Digital Globalsoft Ltd, the Indian subsidiary of Global IT major, HP, reported on Monday a net profit of Rs 30.2 crore (Rs 302 million) during April to June 2003, an increase of 9.4 per cent over Rs 27.6 crore (Rs 276 million).
Union Bank of India has posted a 36.84 per cent increase in net profit at Rs 155.89 crore (Rs 1.56 billion) for the first quarter ended June 30, 2003, compared to Rs 113.91 crore (Rs 1.14 billion) in April-June 2002.
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