Telecom major Bharti Airtel has reported that a 41 percent fall in its total net income at Rs 1,303.3 crore. This decline was recorded for the last quarter ended in December 31, 2010.
This was the result of huge rebranding cost and forex losses. Bharti Airtel is country's largest telecom operator as per subscriber base. It had reported that a net income of Rs 2,194.9 crore in the same quarter in previous year.
On Wednesday, the country’s largest two-wheeler maker, Hero Honda posted a 20 percent decline in its net profit for the third quarter due to the rise in raw material cost. There was a decline to Rs. 429 crore in the net profit for the quarter, last year in the same period it was recorded at Rs. 535.77 crore.
There was soar in raw material cost by 50 per cent to Rs. 3,239.49 crore. In this quarter, the other expenditures have also risen to Rs. 614.14 crore.
India’s largest carmaker Maruti Suzuki Ltd. Has suffered an 18 percent drop in their profit levels during the third quarter profit calculation. The Yen is getting strong on the rupees. The higher royalty payments and increased raw materials had hampered their profit margin.
According to a statement released by the company, the net income fell to 5.65 billion rupees in the first 3 months ended from Dec 31st from the previous 6.87 billion rupees a year ago. The sales however gained 27 percent to 92.7 billion rupees.
Idea Cellular telecom Company, owned by Aditya Birla Group has posted more than expected net profit in the recent quarter. The company has earned net profit of Rs 243 crore in the third quarter ended December 2010. It has posted a rise of 43% rise in net profit from Rs170 crore in the year ago period. While revenue, grew by 26 per cent. BSE recorded the stock at Rs72.05, up by 3.97%.
Indus Tower is a joint venture in which Vodafone Essar and the Bharti Group own 42 per cent each and Idea Cellular has 16%.
Previous year, Hindustan Unilever Ltd (HUL) had recorded a net profit of Rs 649.11 crore in the corresponding period. Although the total income during the third quarter of the current fiscal has increased by 12.12% to Rs 5,127.71 crore from Rs 4,573.23 crore in the year-ago period.
During their filing in BSE, HUL posted that domestic consumer business showed a volume growth of 13 per cent and purchases of various goods have also featured growth during third quarter.
On 22, January 2011 SBI came forth with the financial results of the December 2010. The leading Indian Bank has reported 11.3 % jump in the total profit of Rs491.29 crore for the quarter ended in December, against the same quarter of last year’s Rs441.38. Chairman & Managing Director, O P Bhatt with his team of top executives addressed the meeting.
Statistics shows that the bank’s entire income increased by 14.38 % giving a gain of Rs 2,640 crore during the interval of October-December 2010. This increase was Rs 2,308 crore, which was seen last year.
Punjab National Bank has recorded a rise in net profits of Rs 1,089.77 crore for the third quarter ending on 31 December 2010, when compared to Rs 1,011.31 crore for the same quarter in the previous year.
Last year's December quarter recorded a total income of Rs 6,236.55 crore which has gone up to Rs Rs 7,976.35 crore for the quarter ended December 31, 2010.
As far as net interest income is concerned it also shows a significant increase by 45% at Rs 3,230 crore for the December 2010 as compared to Rs 2,212 crore in the December quarter 2009.
Quarter starting from October and ending at December recorded fall in the net profits by 46% taking the net profit to Rs 7.9 crore for Hindustan Constructions Company (HCC).
Whereas company has recorded net profit of Rs 14.7 crore; in the same quarter last year.
HCC clarify that net off last year's foreign exchange loss of Rs 6.1 crore and Rs 2.8 crore of tax profit liability are the reasons for the fall in the net profit.
Gearing up on sturdy sales development, on Thursday Chennai-based TVS Motor Co posted an over two-fold jump in its profit after tax for the quarter completing third December 31, 2010 at Rs 55.75 crore.
In the same quarter last year Profit after tax was at Rs 23.54 crore, the group expressed in a statement. In the third quarter this financial year, sales revenue grow up by 51.23 per cent to Rs 1,647 crore from Rs 1,089 crore in the similar phase previous fiscal.
The net profit of HCL has gone up to Rs. 285.97 crore for the quarter ended December 2010. There is a hike of 12 per cent as compared to the last year's profit. Last financial year the profit of the company was of Rs. 255.44 crore. This has been stated by the HCL Technologies on Wednesday.
The company has said in a statement that the total income of the company has increased to Rs. 1, 687.59 crore. It was Rs. 1259.22 crore during the quarter under review.