Punjab National Bank's net profit for last fiscal emerged higher at Rs 1,139.77 crore after it adopted the stringent accounting principle of the United States as against Rs 939.57 crore recorded as per the Indian standards.
ICICI Bank has posted a net profit of Rs 522 crore [Rs 5.22 billion ($116 million)] for the year ended March 2004, under the US GAAP, as against a net loss of Rs 798 crore [Rs 7.98 billion ($177 million)] in 2002-03.
HCL Technologies on Monday announced a special one-time bonus worth over Rs 700 crore for its employees, as the IT giant marked $10 billion (about Rs 72,800 crore) revenue milestone. The special bonus will be paid to employees in February 2021, amounting to nearly $90 million plus payroll taxes in some countries, the impact of which is excluded from FY21 EBIT (earnings before interest and taxes) guidance provided by the company last month, HCL Tech said in a statement. HCL Technologies said it is "issuing a one-time special bonus to employees around the world" worth over Rs 700 crore in recognition of its recent milestone of crossing the $10 billion mark in revenue for 2020.
Top financial professionals of India Inc are keen on converging to global accounting norms and want the present ones to be aligned with either the International Financial Reporting Standards or the US GAAP.
The audited consolidated financial results of the company and its subsidiaries as per Indian GAAP would also be\nconsidered at the board meeting.
A large number of Indian companies are vying to list their shares on foreign exchanges, particularly in the US, on the back of the successful listing of BPO major WNS on the New York Stock Exchange.
Operating Income crosses $ 1 billion; Q4 revenues at $1.2 billion; up 8% Q-o-Q.
Sify Limited, India's premier Internet, network and e-commerce services company, announced on Wednesday its consolidated US GAAP results for the quarter ended June 30th 2005.\n\n
The company's consolidated revenue for the quarter was up 48 per cent at Rs 2,517 crore.
In the wake of renewed threats from the unions to stall the proposed public offering of shares, the government is reworking its strategy to go ahead with the divestment of National Aluminium Company.\n\n\n\n
Internet, network and e-commerce major Sify Ltd has posted a consolidated net loss of $8.55 million on US GAAP basis for the fiscal ended March 31, 2004.
Starting its journey with a gross revenue of $5 million during its stock market debut on June 14, 1993, Infosys has reached dizzying heights, with a revenue of $10.93 billion in 2017-18
Wipro's numbers for Q3 came as a disappointment to the market and early trades on Friday reflected this, the scrip shedding 4% to Rs 1,516.
Banking and telecom will see the highest impact of this transition.
'We don't trade with any business where we have specific concerns,' a De Beers spokesperson said.
IT services firm HCL Technologies on Friday reported a 16.7 per cent increase in net profit at Rs 2,014 crore for the quarter ended September 2016.
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