Five banks come out of Q3 stronger...!!!! Here’s what took a toll on banks in the preceding quarter. Profitability came under pressure after the Reserve Bank of India (RBI) found in its asset quality review that certain accounts needed higher provisioning. http://goo.gl/NdHcSO
‘Snakebite treatment still a neglected area’ No new antidotes for snakebites have come out in the market for many decades as manufacturers don’t find it profitable, said Prof. David A. Warrel, an expert in tropical diseases and toxicology.
Samsung reports fifth straight quarterly profit drop Samsung Electronics reported Thursday a fifth straight quarterly profit drop as the Galaxy S6 series of smartphones failed to reverse its declining fortune in the smart phone industry. http://pressclubofindia.co.in/
Infosys Q2 net up 9.8% at Rs. 3,398 crore India’s second largest IT services company Infosys on Monday said its net profit for the second quarter of FY16 ended September 30, 2015 stood at Rs. 3,398 crore, registering a growth of 9.8 per cent when compared to the same period last year. http://pressclubofindia.co.in/
Alphabet announces maiden share buyback Alphabet Inc. , the new holding company for Google, introduced its first share buyback and beat Wall Street’s profit forecast on Thursday, helped by solid progress in mobile and video advertising, sending the stock to its highest-ever level in after-hours trading. http://pressclubofindia.co.in/
HCL Tech Q3 net up 3.6% at Rs. 1,683 crore IT services company HCL Technologies on Tuesday said its net profit for the third quarter ended March 31, 2015 stood at Rs. 1,683 crores registering a growth of 3.6 per cent when compared to the same period last year. The total revenue of India’s fourth largest IT exporter for the period stood at Rs. 9, 267 crore reporting a growth of 11 per cent as against the same period last year.
Gas price cut to $3.82 per unit Natural gas prices were cut by a steep 18% to $3.82 per unit on Wednesday, the biggest ever reduction in rates so far. This reduction will dent government revenues by about Rs. 800 crore and hit profits of producers like Oil and Natural Gas Corp (ONGC). http://pressclubofindia.co.in/
Reliance net profit up 12.5% Backed by strong performance of its refining and petrochemicals business, Reliance Industries (RIL) reported consolidated net profit rose 12.5 per cent to Rs.6,720 crore in the quarter ended September 30, from Rs.5,972 crore in the same period last year despite a 34 per cent fall in sales. http://pressclubofindia.co.in/