Lower global prices for iron, copper and coal forced the world's leading miner BHP Billiton to report its first profit fall in around three years.
BHP Billiton on Wednesday said it suffered a fall of 6 per cent in half-year profit. Nevertheless, it pocketed $US9.94 billion as profits in six months through December 2011, more than the $US90 billion commodities trader Glencore and miner Xstrata would together have generated in all of the last year.
In its recent warning of a ballooning full-year loss, Sony said that a weak economy, natural calamities, and a strong yen have apparently taken a toll on the company's earnings, with its annual loss figures likely to touch Y220 billion
(or $2.86 billion).
Citing reasons like the cost of streamlining its losses-ridden TV business, the supply-disrupting Thailand floods, and the surging yen, Sony said that all these factors contributed to the company's products becoming more expensive in overseas markets.
In comparison to a $1.09 billion profit in the fourth quarter a year back, AT&T has posted a mammoth $6.7 billion fourth-quarter loss this time round, largely due to the breakup fees resulting from the failure of its proposed T-Mobile acquisition.
While the analysts had expected AT&T to report a fourth-quarter profit of 43 cents per share during the quarter, the company's profit - after discounting the charges that it had to undertake because of the $4 billion breakup fee - stood at 42 cents per share. The profit for the same quarter a year earlier was 55 cents per share.
The results of a joint survey, conducted recently by industry body Confederation of Indian Industry (CII) and Ascon, have revealed that a slow down in manufacturing growth in India in the first-half of the current financial year has led to expectations that further moderation was apparently in the offing in the third quarter.
The net profit of LIC Housing Finance plunged nearly 58 percent in the second quarter chiefly because of an additional provision of Rs 205 crore associated with provisions on standard assets that the mortgage company made during the quarter in accordance with a directive National Housing Bank (NHB) had issued.
Cisco Systems’ recent reporting of its fiscal first-quarter results revealed that the company’s earnings - stock compensation and other nonstandard accounting practices excluded – were 43 cents per share; marking a 2 percent rise year-on-year. The revenue of the company witnessed a 5 percent increase to $11.3 billion.
On Monday, India's state-owned gas utility GAIL reported that its second quarter net profit figures witnessed an increase of 19 percent year-on-year, to Rs 1,094 crore, thanks largely to an improvement in performance in gas, liquid hydrocarbons, and petrochemicals.
According to the information shared by BC Tripathi, the chairman and managing director of GAIL, the company's `profit after tax' increased 15 per cent to Rs 2,079 crore for the first half of the financial; with the turnover being Rs
18,566 crore - marking a leap of 22 percent from the same quarter last year figures.
On Friday, India's biggest private steel producer, JSW Steel posted a rather disquieting net profit loss of 71.5 percent in the second quarter --- with the figures plunging sharply from a whopping Rs 445.4 crore during the same quarter last year to Rs 127.1 crore this time round.
According to JSW Steel, the second-quarter net profit loss -which came in spite of a year-on-year increase in net sales grew from Rs 5,712.8 crore to Rs 7,625.1 crore - was largely an upshot of the non-availability of iron ore, which constricted manufacturing at the company's Vijayanagar facility.