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iGate sacks CEO Phaneesh Murthy
Outsourcing company iGate Corp said it had sacked its Chief Executive Phaneesh Murthy for not disclosing a relationship with a subordinate after investigating one of India's best-known IT executives for sexual harassment. Full Article
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Jaguar Land Rover says Q3 oper margin to fall, capex to rise in FY14
Jan 23 (Reuters) - Jaguar Land Rover (JLR) is likely to report a lower EBITDA margin in the October-December quarter compared with the previous two quarters, the company said on Wednesday, due to exchange rate fluctuations and a higher mix of Evoque sales.
JLR's capital expenditure will rise to 2.75 billion pounds ($4.36 billion) in the fiscal year that begins in April, up from 2 billion pounds in the current year, the company said in a statement, adding that free cash flow for 2013-14 could be negative as a result.
The British luxury brands, owned by India's Tata Motors , will report higher revenue in the quarter that ended in December than in the previous two quarters but similar EBITDA (earnings before interest, taxation, depreciation and amortisation), and will report a negative free cash flow in the period.
JLR reported EBITDA of 486 million pounds in the quarter to end-September, with an EBITDA margin of 14.8 percent.
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