Indian low-cost airline, SpiceJet has reported a third consecutive quarterly loss turning its net worth negative for the first time since the company was acquired by Sun Group.

The company's net worth stood at negative Rs 23.89 crore as on December 31, 2011 and this has seriously affected the company's ability to raise funds form the market. SpiceJet's auditors said that company's accumulated losses of Rs 1,077.81 crore has erased its net worth.

Indian drugmaker Dr. Reddy’s has reported an impressive 88 per cent rise in net profits in the thrd quarter of the year till December 2011 backed by high sales of schizophrenia drug Olanzapine in the US.

The company said that its net profit rose to Rs 513 crore in the third quarter of financial year compared to Rs 273.2 crore in the same quarter of the previous fiscal. The company revenue of the company was recorded at at Rs

Stockholm, Feb 3 - Affected by price pressure and increased costs for raw materials, the income of the Swedish multinational appliance manufacturer Electrolux fell by 48 percent last year compared to 2010, the company said in its fiscal report Thursday.

The net income of the company in 2011 amounted to 2.78 billion Swedish kronor (about $412 million), while net sales amounted to 101.59 billion Swedish kronor (about $15,057.1 million), reported Xinhua.

Technology sector firm, Mahindra Satyam has recorded an increase of 29.4 per cent in its consolidated net profit to Rs 308 crore in the quarter till December 2011.

The company said that it earned Rs 66.3 crore in the October-December quarter compared to Rs 33.7 crore in an earlier quarter. The consolidated revenues of the company rose 8.9% to Rs 1,718 crore compared to Rs 1,577 crore in the same quarter of the previous year. EBITDA margins were recorded at 16.2 per.

Chicago, Feb 2 - US auto sales for the Big Three American automakers were mixed in January as General Motors (GM) sales dropped 6 percent since January last year while Chrysler posted a strong gain of 44 percent over the same period and Ford increased 7 percent.

Chrysler's year-over-year increase of 44 percent marked its best January in four years, and its eighth-consecutive month of sales gains of at least 20 percent, reported Xinhua.

TVS Motor Company has said that its total sales increased by 5 per cent in the month of January 2012 to the level of 173,514 units compared to 165,152 units in January 2011.

The cumulative sales for the period April 2011 to January 2012 increased by 10 per cent to 1,843,554 units compared to 1,678,048 units n the same previous of previous year. The sales increased by 6 per cent to 171,112 units in January 2012 compared to 161,725 units in January 2011.

New Delhi, Feb 1 - Leading car manufacturer Maruti Suzuki Wednesday reported a modest 5.2 percent increase in January sales at 115,433 vehicles, with domestic sales still continuing to be sluggish.

The company had sold 109,743 units in January 2011.

Successive interest rate hikes and rising petrol prices have dented interest of car buyers since some time now. Also, the inability of Maruti to meet increased demand for diesel vehicles has led to the company registering lower sales.

Chennai, Feb 1 - Two- and three-wheeler maker TVS Motor Company Ltd closed last month with a five percent sales growth compared to January 2011.

Announcing the monthly sales figures Wednesday, the company said it had sold 173,514 untis (171,112 two-wheelers and 2,402 three-wheelers) last month, up from 165,152 units (two-wheelers 161,725 and three-wheelers 3,427) sold in January 2011.

Within the two-wheeler segment, TVS Motor's sales of motorcycles last month was lower by 2,113 units as compared to 67,721 units sold in January 2011.

Glenmark Pharmaceuticals has recorded a fall of 46.7 per cent in the quarter till December 2011 manly due to the foreign exchange losses.

The Pharmaceutical company recorded a consolidated net profit of Rs 46.11 crore in the quarter compared to Rs. 86.52 crore in the same quarter of the previous year. The company said that it lost as much as Rs. 102 crore on dollar denominated loans due to the fall in the value of the rupee.

Private sector bank, ICICI Bank has reported an increase of 20 per cent in net profit in the quarter till December 2011.

The bank reported the net profit at Rs. 1,728.10 crore in the quarter compared to Rs 1,437.02 crore in the same quarter previous year. The increase in net profit was mainly due to net interest income as well as decline in provisions on account of lower gross non-performing assets.

Indian private sector bank, Canara Bank has reported a fall of 26 per cent in its net profit at Rs. 876 crore during the third quarter of the financial year till December 2011.

The total income of the bank rose from Rs. 6,444.55 crore in the same quarter of 2010 to the level of Rs. 8,591.15 crore in the quarter till December 2011. The deposits in the bank rose 19.7 per cent while advances increased by 15.5 per cent during the quarter.

Patni Computer Systems has reported an increase of 14.5 per cent in net profit in the quarter till December 2011.

Patni, a subsidiary of iGATE Corporation, recorded a net profit of Rs 200.42 crore for the quarter till December compared to Rs 174.94 crore in the same quarter of the previous year. Total revenues of the firm stood at Rs 1,009.20 crore from Rs 868 crore in the same quarter of 2010, recording an increase of 16.3 per cent.

South Korea’s largest automaker, Hyundai Motor Co. has reported a 38 percent increase in profits in the quarter till December 2011.

The net income for the company rose to 2 trillion won in the quarter compared to 1.45 trillion won in the same period previous year, the company said in a filing to the regulators. Revenue of the Seol based company increased 11 percent to 20.5 trillion won.

India's leading biotechnology company, Biocon Ltd has reported a fall of 15 per cent in net profit in the quarter till December 2011 mainly due to lower licensing income.

Biocon, which is based in Bangalore, has said that its consolidated net profit fell to 848 million rupees in the third quarter till December 2011 compared to 1.01 billion rupees in the same period previous year.

The total revenue for the company increased 3 per cent in October-December quarter. The company's licensing fees and income fell to 292 million rupees from 768 million rupees in the previous year.

Moscow, Jan 25 - Apple has posted record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion in the first quarter of the fiscal 2012 which ended Dec 31, 2011.

The company said in a statement Tuesday that it had achieved an all-time record in quarterly sales of its iPhones, iPads and Mac computers.

Apple sold 37.04 million iPhones in the quarter, representing 128 percent unit growth year-on-year.

Telecom service provider, Idea Cellular has recorded a fall of 18 per cent in its consolidated net profit to Rs 200.9 crore in the third quarter till December 2011 mainly due to higher depreciation and financing costs in 3G services.

India leading engineering & construction firm, Larsen and Toubro (L&T) ahs reported an increase of 18 per cent in the quarter till December 2011.

The company had recorded a net profit of Rs 840 crore in the same period previous year. Other income for the firm increased 78.9% to Rs 449 crore compared to Rs 251 crore during the same period of 2010.

The net profit of Colgate Palmolive India increased by an impressive 74.50 per cent to Rs 1,155.8 million for the quarter till December 31, 2011 as compared to Rs 662.4 million recorded in the same quarter previous year.

The total income for the company increased to Rs 6.90 billion in the quarter till December 31, 2011 compared to Rs 5.77 billion December 31, 2011. It said that focused programmes to enhance efficiencies and reduce costs resulted in strong rousts for the company.

Auto sector major, Maruti Suzuki India Ltd. (MSIL) has reported a fall of 63.6 per cent in net profit in the quarter till December 2011.

Maruti Suzuki’s profit as high interest rates and increasing fuel costs affected the demand for cars in the country. The company, in which 54.2 per cent is held by Japan's Suzuki Motor Corp, recorded a fall of 28 per cent in the December quarter because of a fall in small sales and labour unrest faced by the company.

Beijing, Jan 23 - China's crude steel output increased 8.9 percent year-on-year to 683.27 million tonnes last year, 0.4 percentage points slower than the growth rate of 2010, according to the latest data provided by the country's top economic planner.

Last year's steel output helped China secure its title as the world's largest steel producer.