Company Results & Outlooks
MUMBAI - ICICI Bank Ltd, India's biggest private-sector lender, booked a 14 percent rise in quarterly profit on Friday, roughly matching analyst estimates and setting a record, as growth in income from interest and fees outpaced growth in bad loans.
MUMBAI - Bank of Baroda Ltd increased bad debt provisions by 66 percent in the third quarter, contributing to a big drop in profits, and the bank said bad loan growth would remain a problem in the short term.
- Vedanta Resources Plc, hit by weaker commodity prices, said it planned "hundreds of millions of dollars" in capital spending cuts and deferrals, while looking at a "deep restructuring" of its struggling Zambian copper business.
TOKYO - Japan's Honda Motor Co on Friday cut its annual operating profit forecast by 6.5 percent as it set aside more cash to cover an expanded recall of cars to replace potentially faulty air bags made by supplier Takata Corp.
REUTERS - HCL Technologies Ltd , India's fourth-largest software services exporter by revenue, posted a 28 percent rise in quarterly profit as a recovery in global economy helped spur demand for outsourcing services.
SAN FRANCISCO - Amazon.com Inc reported stronger than expected earnings on Thursday as North American sales surged during the crucial holiday quarter, sending its shares up 9 percent.
REUTERS - Visa Inc, the world's largest credit and debit card company, reported a better-than-expected quarterly profit on Thursday as a strengthening U.S. job market and cheaper gasoline prices encouraged people to spend.
SAN FRANCISCO - Google Inc's revenue grew 15 percent in the fourth quarter but fell short of Wall Street's target on declining online ad prices and unfavorable foreign exchange rates.
BEIJING/SHANGHAI - Alibaba Group Holding Ltd's shares fell more than 10 percent early on Thursday, wiping more than $25 billion of market value after third quarter revenue at the Chinese internet giant fell short of analysts' expectations.
NEW DELHI - Housing Development Finance Corp (HDFC), India's top mortgage lender, posted an 11.5 percent gain in quarterly net profit, in line with estimates, aided by higher loan growth.
DUBAI - Struggling sugar mills in India should benefit from a fixed-pricing mechanism for fuel ethanol but still need government support to export surplus sugar, the Director General of the Indian Sugar Mills Association said on Sunday.