Company Results & Outlooks
NEW DELHI - Indian budget carrier SpiceJet Ltd lost 3.1 billion rupees ($50.2 million) in the three months to Sept. 30, the company said late on Friday, less than the 5.6 billion rupees it lost last year after it lowered fares to fill more seats.
MUMBAI - Oil and Natural Gas Corp (ONGC) on Friday posted a 10 percent fall in quarterly profit, its first drop after four quarters of growth, as lower crude prices hurt profitability from both onshore and offshore blocks.
MUMBAI - Reliance Communications, India's fourth-biggest mobile carrier, missed second-quarter profit estimates, partly hurt by fewer customers joining its network as compared to rivals.
NEW DELHI/MUMBAI - Tata Motors Ltd , India's biggest automaker by revenue, said profit dropped seven percent in the second quarter, disappointing market expectations of a rise after a sharp drop in car sales at home.
HELSINKI/LONDON - Nokia predicted on Friday a return to growth for sales in its core network equipment and services business next year and lifted its long-term profit margin target after meeting strong demand for 4G mobile broadband networks this year.
MUMBAI - State Bank of India, India's largest lender, warned on Friday there would be no quick fix for the country's banks, as improvements in loan quality will be gradual while a pick-up in credit demand could be a year away.
PARIS - Airbus Group reported a stronger-than-expected 12 percent rise in nine-month underlying operating profit on Friday, led by its planemaking and helicopter divisions, and reaffirmed its profit forecasts for the year.
NEW DELHI - India's largest real estate developer, debt-laden DLF Ltd , said cost cuts helped its second-quarter profit rise 9 percent as it bids to position itself for what it hopes will be a property demand revival helped by a pickup in economic growth.
TORONTO - Brazil, China and India still offer long-term investment value but a lot of global assets are fully priced and competing with huge sovereign wealth funds is getting harder, one of Canada's biggest dealmakers said on Thursday.
NEW DELHI - India will spend 253 billion rupees ($4.1 billion) to tackle rampant theft of electricity by rolling out metering in cities and upgrading old distribution networks, the power ministry said late on Thursday.