Page 2036 - Business Finance

Turnover in the F&O segment declines

RIL, HDFC Bank, SBI November 2018 futures at premium

PNB Q2 loss zooms to Rs 4, 532 cr on higher provisioning for NPAs

State-run Punjab National Bank (PNB) on Friday reported a loss of Rs 4,532.35 crore for the second quarter ending September caused by major increase in provisioning for bad debts and higher slippages.

Airtel Africa appoints board following $1.25 bn investment

Telecom major Bharti Airtel's subsidiary Airtel Africa on Friday announced the appointment of its board of directors.

LIC Housing Finance eyes 15-16% growth in FY 2018-19: MD

LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday. After inaugurating the 21st edition of the property fair 'Ungal Illam' here, company Managing Director and CEO, Vinay Sah said, "We have targeted to grow at about 15-16 per cent this year. Our H1 (April-September period), growth rate was in the range of 20 per cent." On the disbursements made by the company, he said, "Last year (made in FY2017-18) actually our overall disbursements were nearly Rs 50,000 crore. We are targeting a growth rate of 15 per cent (on that)." The company recorded disbursemments of about Rs 49,378 crore upby 19 per cent in FY 2017-18 over previous year. The disbursements in Southern region stood at Rs 7,736 crore as of March 31, 2018, he said. On fund raising plans, he said, it was an ongoing process and the company had planned to raise funds to the tune of Rs 75,000 crore during the current fiscal. To a query on its

Boeing eyes services M&A, small or big, in tussle with Airbus

SEATTLE (Reuters) - Boeing Co is looking for future deals "small or big" now that it has absorbed parts distributor KLX Inc, an executive told Reuters, as the world's largest planemaker tries to beat out rival Airbus in the highly profitable market for aircraft parts and services.

Axis Bank second-quarter profit beats estimates; asset quality improves

(Reuters) - Axis Bank Ltd, India's third-biggest private sector lender by assets, on Friday posted a better-than-expected 82.6 percent jump in second-quarter profit, boosted by higher interest income and as asset quality improved.

Axis Bank Q2 net profit jumps 83% to Rs 790 cr

Private lender Axis Bank Friday reported a 83 per cent jump in its net profit at Rs 790 crore for the quarter ending September on the back of healthily growth in core income and a decline in provisions for bad loans. The bank had registered a net profit of Rs 432 crore in the July-September quarter of 2017-18, according to a statement by the bank. Total income of the bank rose to Rs 15,959.37 crore during the second quarter of 2018-19 as against Rs 13,820.62 crore in the same period of the preceding fiscal. The net interest income grew by 15 per cent year-on-year to Rs 2,542 crore as against Rs 2,208 crore, the bank said in a release. The net non-performing assets (NPAs) fell to 2.54 per cent as on September 30, 2018 as against 3.12 per cent a year ago same period. However, gross NPAs worsened to 5.96 per cent of gross advances from 5.90 per cent in the year-ago quarter. Provisions and contingencies for the quarter were reduced to Rs 2,927.38 crore from Rs 3,140.41 crore parked for ...

Domestic turmoil may see ECB drawdowns sniffing at $35-40 bn

The ongoing risk aversion and the resultant liquidity crunch and spike in interest rates, coupled with recent relaxation of norms for drawing forex loans by the Reserve Bank will push up external borrowings to USD 35-40 billion this fiscal, up from USD 29 billion a year ago, says a report. The continued turmoil in the domestic credit market has pushed up external commercial borrowings (ECBs) a massive 62 percent to USD 16.5 billion in the first half compared to USD 10.2 billion during the year-ago period and USD 28.9 billion for the whole of FY18, said Icra in a forecast. It can be noted that the cash crunch at the infra lender IL&FS group and the subsequent defaults has roiled the credit market and the worst impacted are non-banking finance companies, which have seen credit supply drying up and their market valuations falling like nine pins. "Amid the rising risk aversion of domestic investors and the tight liquidity conditions, companies are increasingly seeking ..

Alkem Laboratories Q2 net profit dips 20.64% to Rs 254.5 cr

Alkem Laboratories Friday said its net profit (after minority interest) fell by 20.64 per cent year-on-year to Rs 254.5 crore in the quarter ended September. The company had posted a profit of Rs 320.7 crore in the same period last year. The revenue from operations grew by 3.2 per cent to Rs 1,918.9 crore, it said in a release. The company's domestic sales declined by 6.2 per cent to Rs 1,318.4 crore on the high base of Q2FY18 on account of GST led inventory restocking, it added. Its international sales grew by 32.5 per cent to Rs 580.9 crore in the quarter. The company's R&D expenses for the quarter stood at Rs 104.9 crore, or 5.5 per cent of revenue from operations, compared with Rs 90.1 crore last year, at 4.8 per cent of revenue from operations. The company filed seven abbreviated new drug applications (ANDAs) with the US FDA during the quarter, and received two approvals (including one tentative approval), the release said. As on September 30, the company has ...

Alkem Laboratories standalone net profit declines 27.95% in the September 2018 quarter

Sales decline 7.78% to Rs 1440.22 crore

SIL Investments standalone net profit declines 68.51% in the September 2018 quarter

Sales decline 69.90% to Rs 10.59 crore

Kashyap Tele-Medicines reports standalone nil net profit/loss in the September 2018 quarter

Sales reported at Rs 0.05 crore

Alicon Castalloy standalone net profit rises 35.47% in the September 2018 quarter

Sales rise 15.21% to Rs 282.46 crore

Keynote Corporate Services standalone net profit rises 238.89% in the September 2018 quarter

Sales rise 133.93% to Rs 2.62 crore

Jumbo Bag standalone net profit rises 200.00% in the September 2018 quarter

Sales rise 6.96% to Rs 29.34 crore

J B Chemicals & Pharmaceuticals standalone net profit declines 0.54% in the September 2018 quarter

Sales rise 16.40% to Rs 404.27 crore

Great Eastern Shipping Company reports standalone net loss of Rs 186.22 crore in the September 2018 quarter

Sales rise 26.86% to Rs 558.94 crore

Gabriel India standalone net profit rises 8.96% in the September 2018 quarter

Sales rise 14.81% to Rs 541.53 crore

Max India reports standalone net loss of Rs 0.21 crore in the September 2018 quarter

Sales decline 11.37% to Rs 14.42 crore

Triveni Engineering and Industries standalone net profit declines 69.22% in the September 2018 quarter

Sales decline 35.17% to Rs 687.71 crore