SpiceJet reported a 32% increase in its net profit to Rs 239.99 crore for the three months ended December from Rs 181.14 crore in the same quarter last year. The airline’s capacity grew by 14% during the same period. SpiceJet reported an operating revenue of Rs 2,081.95 crore in the quarter, up 27% on year. […]
Smaller operators Idea Cellular and Telenor handily beat bigger rivals Reliance Jio and Bharti Airtel in a 4G network quality field test conducted by the telecom regulator in the Gujarati city of Surat. In fact, the survey agency was not able to get a Youtube video playing over Jio’s network in all five locations where […]
Zee Group’s DTH arm Dish TV said it intends to go ahead with its merger with rival Videocon D2h, having made an assessment of the possible impact of bankruptcy proceedings against D2h’s promoter group by banks. It said it will make further filings with the Registrar of Companies on the merger. “Upon evaluation of the […]
International credit rating agency Fitch said it revised its outlook on the Indian telecom sector to ‘stable’ from ‘negative’ and sees the sector returning to revenue growth in 2018. “We expect gradual price discipline in India’s telecoms sector to drive a mid-single-digit revenue recovery in 2018, following 2017’s falls,” the firm said in the context […]
JSW Energy Ltd reported a sharp decline in its profit on a sequential basis due to a steep increase in fuel costs, but the company’s numbers were an improvement on a year-on-year basis. The company’s profit before tax fell to just Rs 70 cr from Rs 417 cr in the preceding quarter due to lower […]
Future Retail, the flagship company of the Future Group led by Kishore Biyani, reported an 81% jump in its net profit due to higher operating leverage afforded by increasing revenue and a sharp dip in interest costs. Net profit for October-December rose to Rs 183 cr from Rs 101 cr in the year-ago quarter and […]
GTPL Hathway, Gujarat’s biggest cable provider, has unleashed a new set of tariffs that offer as much as 39 GB for just 1 rupee. The new tariff plans have been unveiled along with its new fiber to home service. “Currently, the services are launched in Ahmedabad only, but there are plans to progressively launch in […]
The Supreme Court today sent notices to relevant parties on cricketer Sreeshant’s plea to lift a lifetime ban on him imposed by the Mumbai-based Board of Control for Cricket in India. This is the third hearing on the matter. In August last year, a single judge bench of the Kerala High Court lifted the ban […]
Bharat Sanchar Nigam Ltd or BSNL, the state-owned telecom operator, said it has cancelled its order to stop unlimited free calls on its landlines on all Sundays. The order was issued two weeks ago and had said that the facility of unlimited free calling on Sundays would be abolished from February. On Saturday, the company […]
Tata Steel said it has completed the acquisition of a 135 MW power plant from a subsidiary of Jasper Industries for Rs 255 paid in cash. The thermal power plant, located in Cuttack district in Odisha, will help it increase its captive source of power to meet its growing demand, it said. The acquired company […]
Tata Teleservices Maharashtra, the listed arm of Tata Teleservices that provides telecom services in Maharashtra and Goa, reported better pretax profit margins for the December quarter thanks to lower depreciation charges. Pretax losses narrowed to Rs 385 cr in Q3 from Rs 392 cr in the Q2 and Rs 489 in the year-ago period. Depreciation […]
Hero MotoCorp reported strong auto sales numbers for January. Total two-wheeler sales rose 31% to 6.41 lakh during the month, taking the total for the financial year over the 6 mln mark with two months remaining. The performance is comparable to those of the others in the industry. Bajaj Auto, for example, reported a 36% […]
Info Edge India, which runs websites like jeevansathi.com and naukri.com, reported a 22% year-on-year increase in revenue and but the top line remained flattish on a sequential basis. Margins suffered due to higher advertising costs. Total billing during the third quarter increased 19% on year to Rs 228.3 cr, the company said. Net sales rose […]
Godrej Properties reported a sharp 66% fall in its net profit for the third quarter despite strong sales growth, as it was hit by a sharp increase in its input costs. Net profit fell to Rs 25.94 cr for the three months ended December from Rs 77.24 in the same period last year. In Q2, […]
PC Jewellers, the Delhi-based jewelry retailer, denied that there was any reason for the halving of its share price as was seen today. It issued a statement after the company’s shares fell from around Rs 500 to Rs 217 in trading today, reportedly over worries that the company may be linked with Vakrangee, another firm […]
Government of India-controlled Cochin Shipyard Limited said it signed an agreement with Russia’s largest shipbuilding company to jointly design and manufacture inland and coastal ships in India to enable the government’s Sagar Mala program. Sagar Mala is a ₹8 lakh cr investment initiative of the Government of India to promote the use of water ways […]
Bajaj Auto reported strong sales growth for January, with overall motorcycles jumping 36% on year to 2.89 lakh units and three-wheeler sales setting an all-time monthly record. TWO WHEELERS Domestic sales of motorcycles were up 36% at 1.63 lakh, while exports of motorcycles rose 37% to 1.26 lakh. This has come as a relief to […]
Jain Irrigation Systems, the country’s largest provider of drip irrigation and related equipment, said the budget for 2018-19 is likely to boost farmer incomes and benefit agricultural industries. It listed nine specific provisions in the budget that will have a benign effect on farmer incomes and spending, with the extension of minimum support price regime […]
Sales of Royal Enfield motorcycles rose 31% in the month of January when compared to the same month last year, said its manufacturer Eicher Motors. Eicher said it sold a total of 77,878 Royal Enfield bikes in January, or 2,512 bikes every day. The growth was led by sales of smaller Enfield bikes. Sales of […]
Mahindra & Mahindra reported a 32% jump in its auto sales January 2018 to 52,048 vehicles, boosted by strong sales of commercial vehicles. The Passenger Vehicles segment, which includes SUVs, Cars and Vans, sold 23,686 vehicles in January 2018, as against 20,169 vehicles during January 2017, registering a growth of 17%. In the Medium and […]
