Tata Engineering & Locomotive Company has reported a 258 per cent increase in net profit at Rs 100.31 crore (Rs 1.003 billion) for the quarter ended June 30, 2003 as against Rs 28.03 crore (Rs 280.3 million) in Q1 FY03.
Infosys has reported a 28 per cent increase in net at Rs 278.12 crore (Rs 2.78 billion) for the quarter ended June 30, 2003 when compared with Rs 216.85 crore (Rs 2.168 billion) in Q1FY03.
The anticipated adverse impact on the economy and consequent uncertainty around employment prospects is likely to result in lower purchasing power.
Business activity contracted in Q2 FY20, the first contraction since 2013-14 and the second since the 2008 global financial crisis, report, Abhishek Waghmare and Anup Roy.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
Mphasis BFL has reported a 29 per cent dip in its net profit at Rs 9.02 crore (Rs 90.2 million) for the first quarter ended June 30, 2005 as compared to Rs 12.79 crore (Rs 127.9 million) in Q1 FY05.
The bookings of tickets under the four-day "festive sale" offer have begun from Monday for the travel period from September 18, 2018 to March 30, 2019, IndiGo said.
The escalating trade war between China and the US could be an opportunity for India.
It bounced back from the historic low of 41 recorded in the April-June quarter, during the initial days of the pandemic and lockdown.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
Profit up due to strong performance of biopharma segment.
Sensex, Nifty slightly upbeat, midcaps to rule markets this week.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
Tyre companies are stepping up on exports to offset declining volumes from domestic OEMs.
'Airlines will need a war chest to deal with post-COVID economics.'
Recovery seen in Q4, companies continue to focus on enhancing cash flow
The bigger worry is that the miss for FY19 is likely to be significant even after assuming macro factors such as crude oil prices, rupee, input costs, and interest rates, do not worsen from the current levels, reports Vishal Chhabria.
Combined profit before tax of 81 firms down 37.5% y-o-y, worst show in at least 3 years.
'There's a lot of continuity in terms of basic values and there's also a lot of new thinking based on the generational shift... it's a combination of continuity and change,' says Wipro Chief Executive Officer Abidali Neemuchwala.
The progress of the GST Bill in Parliament is also likely to remain in focus
The SBI report ruled out a October rate hike
The government clarified that the majority of industrial establishments had reported nil production, and cautioned that the numbers should not be compared with those of previous months. "It is not appropriate to compare the IIP of April 2020 with that of earlier months, and users may like to observe the changes in the IIP in the following months," said the ministry of statistics & programme implementation.
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
'I cannot cope with the demand. It will take us a couple of months to ramp up production.'
With the stock coming under pressure, the MF holding value could have dropped to Rs 50 billion, back-of-the-envelope calculations show.
CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year. This is the second highest fall in residential sales in the past five years, after Q1, 2017, when the decline, due to the note ban, was 37 per cent.
An analysis of past 20 years' demand cycles done by Edelweiss Securities indicates that the auto sector is currently in the middle of a down cycle. Volume recovery, they say, is unlikely to be as sharp as in the past, unless there is strong fiscal support.
Going forward, the February factory output may be impacted as several industries such as automobiles, technology, pharma and fashion have some exposure to imports of raw and intermediate materials from China.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
Currency played an important role in Q2, with US dollar, Japanese yen and euro appreciating vis-a-vis the Indian rupee, while the Brazilian real, South African rand and Russian ruble depreciating against rupee.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
The advent of internet of things, blockchain, data analytics, artificial intelligence, and self-driving cars has also created huge business opportunities for online training platforms such as Udacity and Coursera.
They believe that the key reason behind such a high growth rate could be "a steep downward revision" of the year-ago base period.
What worked for Airtel was that its data traffic growth was 13 per cent sequentially and its average data usage was even higher than Jio's at 11.9 gigabyte per month per user.
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India's economy grew 4.7 per cent in 2013-14, following an expansion of 4.5 per cent in 2012-13. In the fourth quarter of 2013-14, growth remained subdued at 4.6 per cent, mainly due to a decline in manufacturing and mining output.
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