SBI posts pretax loss of Rs 12,213 cr on NPA provision of Rs 24,000 cr

SBI posts pretax loss of Rs 12,213 cr on NPA provision of Rs 24,000 cr

2018-05-22T14:32:42+00:00 On

State Bank of India, the country’s largest bank, reported a sharp increase in its quarterly net loss in Jan-Mar after setting apart a whopping Rs 24,080 cr in the three months to cover bad loans extended by the company in the past….

Axis Bank swings to loss on lower non-interest revenue, rising costs, provisions

Axis Bank swings to loss on lower non-interest revenue, rising costs, provisions

2018-05-16T14:39:59+00:00 On

Private sector lender Axis Bank reported a loss of Rs 2,189 cr for the Jan-Mar quarter, hit by costs that rose faster than revenues as well as higher provisions to account for eventualities. For the quarter, the company’s interest income increased by…

SpiceJet defies rising fuel prices to post an increase in Q4 profit

SpiceJet defies rising fuel prices to post an increase in Q4 profit

2018-05-11T13:46:08+00:00 On

Low-cost airline SpiceJet reported a resilient set of numbers for the Jan-Mar quarter despite increasing fuel prices, posting its 13th quarterly profit in a row. Despite worries over rising crude prices, the company managed a slight increase in its net profit to…

Zee Entertainment continues bounce from demonetization, Q4 ad sales up 24%

Zee Entertainment continues bounce from demonetization, Q4 ad sales up 24%

2018-05-10T16:47:22+00:00 On

Zee Entertainment Enterprises Ltd, the largest Indian-owned media company, reported a strong quarter of advertisement growth in Jan-Mar, benefiting from a bounce-back from the lows of demonetization last year. Advertising revenue for the Jan-Mar quarter rose 24% on year to Rs 1,050…

Arvind Ltd has strong Q4, despite margin softness in textiles

Arvind Ltd has strong Q4, despite margin softness in textiles

2018-05-09T13:49:46+00:00 On

Arvind Limited, one of the largest integrated textile and branded apparel players, reported an improved set of results for the Jan-Mar quarter, boosted by strong revenue growth. Pretax profit rose by Rs 32 cr (29%) on year to 142 cr. This was…

Hindustan Media Ventures sees continued pain in Jan-Mar

Hindustan Media Ventures sees continued pain in Jan-Mar

2018-05-09T10:23:49+00:00 On

Hindustan Media Ventures, which publishes Hindustan, the Hindi newspaper from the Hindustan Times Group, continued to report a deterioration in its financial performance in Jan-Mar, in keeping with a negative trend in the print newspaper industry. The company’s consolidated operating revenue for…

Dwarikesh Sugar swings to a Q4 loss on account of 15.5% fall in prices

Dwarikesh Sugar swings to a Q4 loss on account of 15.5% fall in prices

2018-05-07T16:15:48+00:00 On

Dwarikesh Sugar Industries reported a sharp decline in its performance for the quarter ended March, blaming a “rapid & unexpected fall” in sugar prices. Against net profit of Rs 46 cr for the same quarter last year, the company reported net loss…

Higher costs weigh on Emami Q4 results despite strong sales growth

Higher costs weigh on Emami Q4 results despite strong sales growth

2018-05-03T17:35:55+00:00 On

Personal care products maker Emami Ltd reported a 12% growth in fourth-quarter revenue, but profit levels were impacted to due to a sharp increase in material costs and the write-off of a tax credit. The company posted revenue of Rs 617 cr…

Prakash Industries Q4 PAT up 350% at Rs 152 cr as steel prices rise

Prakash Industries Q4 PAT up 350% at Rs 152 cr as steel prices rise

2018-04-30T13:57:04+00:00 On

Steel and pipe manufacturer Prakash Industries reported a 45% jump in fourth-quarter sales and a 140% improvement in its operating profi, largely due to a steady improvement in steel prices. The company had sales of Rs 910 Crores and EBIDTA of Rs…

Idea cuts employee costs by 40% in 3 months, improves margin in Jan-Mar

Idea cuts employee costs by 40% in 3 months, improves margin in Jan-Mar

2018-04-28T15:36:25+00:00 On

Idea Cellular slashed its employee costs by nearly 40% in the three months from January to March this year, and also reduced several other items of expenditure in a successful attempt to protect its margins from the impact of falling revenue. As…

Bharti Infratel loses 22,134 tenancies in FY18, but Q4 revenue rises 4%

Bharti Infratel loses 22,134 tenancies in FY18, but Q4 revenue rises 4%

2018-04-23T17:53:35+00:00 On

Bharti Infratel, the telecom tower company from the Bharti group, reported a modest 4% growth in sales and 2% improvement in net profit due to a loss of tenancies as well as increasing fuel costs. The company’s revenue rose 4.2% on year…