TVS Motor Q4 profit rises 31%
Posted on 17th May 2018 |
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| Buoyed by an impressive 32% growth in volume, TVS Motor has reported a 31% growth in its net profit for the fourth quarter ended March 31, 2018 to Rs 165.61 crore, compared with Rs 126.77 crore reported in the same quarter last fiscal. For the full year, taking advantage of the 18% growth in volume, coupled with better per unit realisation, the profit after tax grew 19% to Rs 662.59 crore as against Rs 558.08 crore in the previous fiscal, a company press release said on Wednesday. PBT during Q4 grew 43.3% to Rs 192.10 crore compared with Rs 134 crore. With the total sales jumping sharply to 34.66 lakh units for the full year under review as compared to 29.27 lakh units in the previous fiscal, the total revenue (excluding excise duty/ GST) grew 24.7% to Rs 15,129.66 crore compared with Rs 12,135 crore. For the fourth quarter, The Q4 revenue shot up 40.4% to Rs 3,993.76 crore against Rs 2,844.50 crore in the same quarter of last fiscal, thanks to the 30% growth in two-wheeler sales, which grew to 8.6 lakh units against 6.6 lakh units in the same quarter last fiscal. During the year, the firm strengthened its presence in the motorcycle and scooter segments with the launch of TVS Apache RR 310, TVS NTORQ 125 CC and TVS Apache RTR 160 4V and refreshed product portfolio. According to the company, the overall two-wheeler and three-wheeler sales grew by 31.7% from 6.75 lakh units in the fourth quarter of 2016-17 to 8.89 lakh units in Q4 of 2017-18. Motorcycle sales grew 61.1% from 2.15 lakh units in Q4 of 2016-17 to 3.46 lakh units and scooter sales grew 25.5% from 2.23 lakh in Q4 of 2016-17 to 2.80 lakh. For the full year, the overall two-wheeler sales, including exports grew 17.8%, increasing from 28.58 lakh units registered in 2016-17 to 33.67 lakh units in 2017-18. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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