New Delhi: Hit hard by rising interest burden and lower sales realisations, Jindal Steel and Power's (JSPL) consolidated net profit fell by nearly 35 per cent to Rs 760.27 crore for the quarter ended March 31, 2013. The company, headed by Naveen Jindal, had reported a net profit of Rs 1,167 crore in same quarter of FY'12. Net sales during the fourth quarter of 2012-13 reported a meagre growth of 2.16 per cent at Rs 5,583.33 crore. The company had reported a net sales of Rs 5,465.26 crore in the January-March quarter of 2011-12.
JSPL is also looking to double the capacity of both of its businesses -- steel and power -- during the current fiscal, company's Managing Director Ravi Uppal told reporters in Delhi. The company is looking to increase its steel making capacity to 7 million tonnes per annum (MTPA) by adding 2 MT capacity at Odisha's Angul and another 2 MT capacity in Oman by September-October 2013, he said.
It is also planning to commission all four units of its upcoming 2,400 MW power plant in Chhattisgarh by the end of current fiscal, Uppal said, adding that after that, JSPL's power production capacity will go up to 4,969 MW. While the gross revenue from steel went up nearly 10 per cent to Rs 4,840.63 crore, realisations from power were down nearly 12 per cent to Rs 1,130 crore in March quarter.
Its realisations from power business came down to Rs 3.17 per unit during
12:30 PM, Apr 26, 2013
Mumbai: IT major Wipro Ltd on Friday reported 16.73 per cent increase in net profit to Rs 1,728.7 crore for the fourth quarter ended March 31, 2013. The country's third largest software services firm's net profit stood at Rs 1,480.9 crore in the year-ago period. The consolidated total income of the company rose by 13 per cent to Rs 9,613.1 crore for the January-March quarter in 2013-13 fiscal as against...
10:44 AM, Apr 19, 2013
Mumbai: Indian conglomerate Reliance Industries Ltd posted a 32 per cent rise in its quarterly profit on Tuesday, as a rebound in margins at its core refining business offset falling oil and gas revenue. Reliance, controlled by India's richest man, Mukesh Ambani, said net profit in its fiscal fourth quarter which ended on March 31 rose 32 per cent from a year earlier to a higher-than-expected 55.89 billion rupees. Revenue,...
07:27 PM, Apr 16, 2013
Motorola Mobility had an operating loss of $353 million during the quarter. ...
07:16 AM, Jan 23, 2013
China's annual economic growth may have quickened to 7.8 per cent in the fourth quarter a Reuters poll showed, snapping seven straight quarters of weaker expansion, but the recovery is likely to be tepid and the economy may need continued policy support. ...
12:48 PM, Jan 08, 2013
Mumbai: Troubled carrier Kingfisher Airlines' loss widened to Rs 1,151.53 crore in the fourth quarter of 2011-12 due to steep hike in fuel prices and sharp depreciation of the rupee. It had net loss of Rs 355.55 crore in the January-March quarter of 2010-11, Kingfisher said in a filing to the BSE. It has been facing financial troubles for almost a year now. The airline, which never made a profit...
11:59 AM, May 31, 2012
Mumbai: After being down in the dumps for the better part of day, Indian equities staged a smart late trade recovery on hopes of a RBI rate cut to revive the sagging economy. Also, gains in European shares aided the recovery. The country's economic growth slumped in the January-March quarter to a nine-year low of 5.3 per cent as the manufacturing sector contracted and a fall in the rupee to...
09:41 AM, May 31, 2012
Bangalore: India's annual economic growth probably held steady in the January-March quarter at 6.1 per cent and the global economic slowdown, government policy paralysis and a record low currency suggest little chance of a pick up in the current quarter. A poll of 31 economists produced a median forecast of 6.1 per cent, unchanged from the growth of the October-December quarter. Forecasts ranged from 5.5 per cent to 7.3 per...
08:31 AM, May 31, 2012
Steel Authority of India (SAIL) has declared its fourth quarter results. Its Q4 net profit at Rs 1,577 crore versus Rs 1,530.6 crore, YoY, reports CNBC-TV18. It touched an intraday high of Rs 96.70 and an intraday low of Rs 92.50. At 14:40 hrs the share was quoting at Rs 95.95, up Rs 2.55, or 2.73 per cent. It was trading with volumes of 1,223,250 shares, compared to its 5-day...
05:01 PM, May 29, 2012
New Delhi: State-owned Coal India (CIL) on Monday reported a 4.9 per cent dip in consolidated net profit at Rs 4,013 crore for the fourth quarter ended March 31, due to higher staff expenses. The company clocked a net profit of Rs 4,220 crore during January-March quarter of FY 2010-11, the company said in a filing to BSE. The income from operations of the public sector firm for the quarter,...
07:02 PM, May 28, 2012
Mumbai: India's largest lender State Bank of India (SBI) on Friday reported a forecast beating net profit of Rs 4,050 crore for the fourth quarter (Jan-March) of FY12 as against Rs 21 crore a year ago, aided by higher interest income and lower provisioning for non-performing loans. Analysts on an average had expected profit at Rs 3,580 crore. However, the exponential year-on-year jump in its net profit is not comparable....
01:36 PM, May 18, 2012
Mumbai: Tata Consultancy Services Ltd shares surged on Tuesday as much as 9.6 per cent after posting a 23 per cent rise in its fiscal fourth quarter profit and giving a relatively upbeat outlook. TCS's results, which came after the market closed on Monday, were seen as a sign it may be better positioned than rival Infosys. TCS shares were last up 8.9 per cent, versus a 0.05 per cent...
10:21 AM, Apr 24, 2012
New Delhi: Infosys, the country's second largest software services exporter has reported mildly better than expected net profit of Rs 2,316 crore for the fourth quarter of FY12, a fall of 2.36 per cent Quarter-on-Quarter (QoQ). CNBC-TV18 poll of analysts expected it at Rs 2,290 crore. The company has disappointed the street by its revenues and EBIT, though profits came in slightly higher than expectations. Even the company missed its...
09:16 AM, Apr 13, 2012
Mumbai: Shares of telecom operator Bharti airtel on Thursday fell by over 4 per cent on the bourses in morning trade after the company reported a dip of 31.48 per cent in net profit for the quarter ended March 31, 2011. The shares of the country's largest telecom player fell by 4.65 per cent to touch an early low of Rs 352.40 on the Bombay Stock Exchange (BSE). In a...
11:22 AM, May 05, 2011
Mumbai: Country's largest software company Tata Consultancy Services (TCS) on Thursday said its net profit for the fourth quarter ended March 31, 2011 rose by 31.1 per cent to Rs 2,623 crore. It posted an increase of 31.3 per cent in quarterly revenues at Rs 10,157 crore, TCS said in a statement. "Excellent execution and a constant focus on the customer has helped TCS round off a sterling performance in...
03:07 PM, Apr 21, 2011
New York: BPO major Genpact on Monday said its net income rose 33 per cent to $46 million (Rs 209.13 crore) for the fourth quarter ended December 31, 2010. The company had a net income attributable to shareholders at $34.6 million during the same quarter ended December 2009, Genpact said in a statement. "In 2010, we grew revenues, adjusted income from operations, net income, earnings per share and cash flows....
08:01 PM, Feb 07, 2011
New York: Nasdaq-listed software company iGate on Wednesday posted 70.56 per cent increase in net income at $14.72 million for the quarter ended December 31, 2010, but cautioned against a slower demand environment in 2011. "Q4 was an extremely strong quarter for us, thanks to iTOPS Consulting (one of its products) and growth in existing accounts. "However, 2011 doesn't look very strong from a demand perspective and it could be...
07:05 PM, Jan 19, 2011
Analysts had on average expected net profit of 13.30 bn on revenue of 60.88 bn. ...
08:11 PM, Apr 30, 2009
Wipro's ED and Joint CEO says economy will be at a steady level now. ...
12:57 PM, Apr 22, 2009
The economic slowdown have hit the IT industry really hard. ...
12:21 PM, Apr 22, 2009
