Sistema, a mobile phone company posted a loss of Rs 666 crore from its Indian arm for the quarter ended on March 31. This recorded a 63% loss. Company also recognized the fall to rising cost of operations and additional capital expenditure to expand services to new regions in the country.
Current fiscal year 2011-2012, will be beneficial for Titan Industries as they expect a rise in revenues by over Rs 8,200 crore, compared with net sales of Rs 6,532.97 crore in 2010-11. Company believes that sale of jewellery will remain forceful and intense forever but sales of watches and accessories will also remain strong.
Bhaskar Bhat, Titan’s managing director anticipate that there will be more than 305 growth in jewellery segment and in watch segment the sales will rise over 22% in the FY12.
Luxury car maker, Audi India, announced on Friday that its sales had increased two-fold, the number being 408 units. In the previous corresponding month of May 2010, the company had sold 200 units. The leap this year is of around 104 percent.
In May Maruti Suzuki, posted its total sales to 1.04 lakh units which shows a growth of 1.9% on year on basis. Maruti, India’s top passenger car, accounts for 7% rise on sequential basis as compared to 20% month-on-month decline it had reported in April
Spice Jet is planning to keep a tight check on costs for FY12. Spice jet airlines being the country’s second largest low-cost carrier (LCC) by market share has posted a net profit of Rs 101.15 crore in 2011 which is 65% up from last year’s net profit of Rs 61.45 crore.
Jaguar Land Rover has reported higher sales in India and China in its luxury cars segment which has posted an annual profit of more than GBP 1 billion.
Last year company had posted pre-tax profits of GBP 15 million but this year it reported pre-tax profits of GBP 1.1 billion.
On 24 May 2011, DLF and Power Grid Corporation of India have announced their January-March 2011 quarter results.
When financial holding company (FHC) was introduced in India, a committee set up by Reserve Bank of India (RBI) has suggested that FHC model should be pursued as a preferred model for the financial sector in India and banks stocks will remain in focus after this announcement.
Voltas Q4 ended March 31 2011 posted a decline of 6% in net profits at Rs 357.24 crore year on year basis. The decline is due to fall in earnings in it electro-mechanical projects segment and losses at arm Rohini Industrial Electricals.
Rohini Industrial Electricals, a Mumbai-based electrical and instrumentation projects company has reported loss in Q4 which has finally dropped the profitability of Voltas.
India’s largest private airline, Jet airways, viewed 21% increase in passenger flown in FY 11, which has reduced its losses to Rs 86 crore from Rs 420 crore in the last fiscal year.
Increase in fuel a price have put burden of Rs 346 crore on Jet-JetLite in FY11, but was offset by 20% hike in revenues to Rs 14,737 crore.
Bajaj Finserv’s Q4 March 2011 posted a rise in net profit by 101.3% to Rs 872.59 crore with rise of 119.5% in total income taking the income to Rs. 1456.68 crore. It rises 6.02% to Rs. 525.35 at 9:31 IST on BSE.
The total volume of shares traded at the counter was 1.67 lakh shares as against average daily volume of 2.54 lakh shares over the past one quarter. The BSE Sensex was up 61.48 points, or 0.34%, to 18,198.83.