Company Results

Lenovo surpasses revenue, profit expectations post surge in smartphone sales

Lenovo surpasses revenue, profit expectations post surge in smartphone sales

London, Feb 04 : Lenovo has surpassed expectations by netting profits of 253 million dollars in the three months to December after sales in its smartphone division more than doubled. Analysts had earlier predicted profits of 200 million dollars and revenues of for the company.

The company also outdid revenue expectations as it posted a 31 percent rise and netted 14.1 billion dollars as opposed to forecasts for 13.7 billion dollars in sales, reported the BBC.

In a bid to diversify the PC business, Lenovo acquired Motorola and IBM's low-end server unit last year.

Lenovo's chairman and chief executive Yuanqing Yang said that the firm was at the "starting line" of a new race due to the two acquisitions and the outcome have proved that their strategy was right

'Salaries of CEOs to rise over 10% this year'

'Salaries of CEOs to rise over 10% this year'

New Delhi - Salaries of top executives are likely to see double digit rise this year with compensations of CEOs and Managing Directors expected to grow by 10.2 percent and of those in senior management by 10.5 percent.

According to global management consultancy Hay Group, compensation of CEOs and MDs are expected to grow by 10.2 percent in 2014-15, slightly higher than 10 percent in 2013-14, and senior management members are set to see a 10.5 percent rise in their pay, up from 10.4 percent last year.

As per the annual Top Executive Compensation Report 2014-15, benefits are increasingly becoming smaller components in the overall compensation structure as organisations are moving towards a cash based renumeration structure.

PNB net profit up 2.5% to Rs 775 crore

New Delhi - Punjab National Bank on Tuesday posted a marginal 2.5 percent increase in net profit to Rs 774.56 crore for its third quarter ended December 31, on account of higher provisioning for bad loans.

The country's second largest public sector bank by assets had reported net profit of Rs 755.41 crore for the October- December quarter of the 2013-14 financial year.

Poor performance of the bank pulled its share price down by nearly 7 percent to Rs 179.20 on the BSE after the numbers were announced.

As far as PNB's asset quality is concerned, gross NPAs as a percentage to total advances rose to 5.97 per cent from 4.96 per cent in the same quarter an year ago.

Yamaha Motor India sales rise 21% in January

New Delhi - Yamaha Motor India on Monday reported 20.82 percent rise in domestic two-wheeler sales at 39,309 units in January.

The company had sold 32,534 units in January 2014.

Commenting on the sales performance, Yamaha Motor India Sales Vice President (Sales & Marketing) Roy Kurian said: "The incessant growth reinforces our belief in our business and strategic outlook.

"We are happy with our gradual growth and are extremely positive about 2015 with our new launches and innovative customers connect programmes."

He added that leveraging on the same, the company would garner major sales.

Tata Motors' sales up 5.19% in January

New Delhi - Tata Motors on Monday reported a 5.19 percent increase in total sales at 42,582 units in January, as against 40,481 units in the same month last year.

Domestic sales of Tata commercial and passenger vehicles grew by 5.35 percent at 38,621 units as compared to 36,657 units in January 2014, Tata Motors said in a BSE filing.

Sales of passenger vehicles in the domestic market in January stood at 13,047 units, up 18.89 percent from 10,974 units in January 2014.

In the commercial vehicles segment, domestic sales remained flat at 25,574 units during the month, the company said.

Tech Mahindra net down 20% to Rs 805 crore on currency loss, wage hikes

Tech MahindraMumbai : Tech Mahindra on Friday reported a 20.25 percent drop in its December quarter net at Rs 805.3 crore due to currency losses and wage hikes.

The IT services provider had posted a post-tax profit of Rs 1,009 crore in the year ago period.

Overall revenue grew to Rs 5,751.17 crore in the third quarter under review, up from Rs 4,898.5 crore in the year-ago period. The operating profit was also up at Rs 1,160 crore as against Rs 1,136 crore last year.

HCL Tech Q2 Net up 28% at Rs 1,915 crore

HCL TechNew Delhi: India's fourth-largest software services exporter HCL Technologies on Friday reported 28 per cent rise in consolidated net profit at Rs 1,915 crore for the second quarter ended December 2014 on growth in European business as well as life-sciences and healthcare verticals.

The city-based firm, which follows July-June fiscal year, had posted a net profit of Rs 1,496 crore in the year-ago period, it said in a BSE filing.

Consolidated revenues grew by 13.4 per cent at Rs 9,283 crore in the October-December 2014 quarter as against Rs 8,184 crore in the same quarter of the previous fiscal.

Samsung sees drop in profits in Q4 2014

Washington, Jan 29 - Samsung seems to be losing on profits with the company making an operating profit of 5.29 trillion won (4.87 billion dollars) on 52.73 trillion won (48.6 billion dollars) in revenue last quarter.

According to the Verge, last year, Samsung's operating profit was 8.31 trillion won from 59.28 trillion won revenue, meaning that these latest results reveal respective dips of 36 and 11 percent.

Despite increased sales of the Galaxy Note 4, the company's mobile division is still down 64 percent year-on-year in terms of operating profit.

Samsung is now depending on processor and RAM businesses to make up for the drop in profits.

Microsoft reports 8pc revenue gain in Q2 2015

MicrosoftWashington, Jan 27 : Microsoft has released its second quarter results from fiscal year 2015, revealing an increase in the revenue by 8 percent from the same quarter last year, as it made 5.6 billion dollars in net income on 26.5 billion dollars in revenue.

However, the company's net income dropped 10 percent.

According to the Verge, Microsoft does note that it has incurred a further "243 million dollars of integration and restructuring expenses" related to the Nokia phone business purchase, which explains part of the drop.

Cairn India Oct-Dec profit drops 53% to Rs 1,350 crore

Cairn IndiaNew Delhi: Cairn India on Thursday reported a 53 percent drop in its December quarter net profit, crimped by the slump in global oil prices and drop in production.

Net profit in October-December at Rs 1,350 crore, or Rs 10.72 per share, was 53 percent lower than Rs 2,884 crore, or Rs 16.86 a share, in the same period a year ago, Cairn said in a statement here.

Profits were down as the price of oil it realised fell 29 percent to USD 68.7 per barrel from USD 96.3 in third quarter of previous fiscal.

Revenue fell 30 percent to Rs 3,504 crore.

Cairn's showpiece Rajasthan field output was 4 percent lower at 178,400 barrels of oil per day.

TCS logs marginal dip in December quarter net profit at Rs 5,328 crore

N ChandrasekaranMumbai: Country's largest software exporter TCS on Thursday reported a marginal dip in net profit at Rs 5,328 crore in December quarter due to lower margins, a tepid performance compared to rival Infosys that beat market expectations to log 13 per cent jump in profits.

The Tata group firm had posted a post-tax profit of Rs 5,333 crore under the IGAAP system of accounting in the December quarter last year, while its profit in the preceding September quarter stood at Rs 5,244 crore.

TCS' operating margin dipped by 2.88 percent as compared to last year, to 26.9 percent, but was up 0.21 percent over the preceding September quarter.

Yamaha Motor India sales rise over 12% in December

Yamaha MotorNew Delhi: Yamaha Motor India on Saturday reported 12.13 per cent increase in domestic two-wheeler sales at 44,602 units in December 2014.

The company had sold 39,777 units in December 2013.

Commenting on the sales performance, Yamaha Motor India Sales Vice President (Sales & Marketing) Roy Kurian said: "Our relentless efforts to rev up sales, backed by innovative marketing strategies and an impeccable product portfolio across segments, have reaped robust results."

For the calendar year 2014, Yamaha clocked domestic sales of 5,66,586 units, as against 4,61,814 units in 2013 -- registering 22.68 per cent growth.---PTI

Bajaj Auto sales down 5.52% in December

New Delhi - Bajaj Auto on Friday reported 5.52 percent decline in motorcycle sales to 2,46,233 units in December 2014.

The company had sold 2,60,645 motorcycle units in the year-ago period, Bajaj Auto Ltd (BAL) said in a statement.

BAL said exports were up 10.20 percent during the month at 1,66,134 units as compared to 1,50,753 units in the same month, a year ago.

In the commercial vehicles category, its sales stood at 43,011 units, up 15.83 percent, as against 37,131 units in December 2013.

The total vehicle sales of the company during last month stood at 2,89,244 units, down 2.86 percent, as against 2,97,776 units in the same month a year-ago, the statement added. PTI

Huawei smartphone sales saw steep surge in 2014

Huawei smartphone sales surgeWashington, Jan 01 : China's leading smartphone manufacturers Huawei has reportedly seen a surge in its revenues to 11.8 billion dollars, while exceeding 75 million units shipments in 2014.

According to reports, the leading smartphone makers' revenue rose by nearly one-third to 11.8 billion dollars.

Richard Yu, head of Huawei's consumer business, said in a memo that smartphone shipments for the company exceeded 75 million units, an increase of 40 percent from the preceding year, both news organizations, CNet reported.

Maruti's December sales jump 20.8%; shares up

New Delhi - Country's largest car-maker Maruti Suzuki India (MSI) on Thursday reported a 20.8 percent increase in total sales in December at 1,09,791 units.

The car maker had reported sales of 90,924 units in the same month last year.

Following the release of strong sales numbers, shares of Maruti were trading 0.50 percent higher at Rs 3,344 in an otherwise weak general market.

The company said its domestic sales increased by 13.3 percent during the month to 98,109 units as against 86,613 units in December, 2013.

Exports during the month rose by nearly three-fold to 11,682 units compared to 4,311 units in December last year, MSI said in a statement.

Maruti set for record sales in 2014 at over 11.48 lakh units

Maruti set for record sales in 2014New Delhi: Country' largest car maker Maruti Suzuki India is set for a record sales in 2014 at over 11.48 lakh units driven by growth across segments but it expressed concerns that a hike in excise duty could hurt the overall auto industry.

The company is awaiting a clarity on the amendment to the Company's Act before going ahead with the minority shareholders' voting on its plans to let parent Suzuki Motor Corp own and invest at the upcoming Gujarat plant.

Blackberry reports net loss of 148M dollars for third fiscal quarter

Blackberry reports net loss of 148M dollars for third fiscal quarterWashington, Dec 20 : Even as Blackberry's revenue continued to fall over the last three months, it managed to narrow down its losses in comparison to previous year.

According to PC World, revenue for the three months, BlackBerry's third fiscal quarter, fell to US 793 million dollars, compared to 916 million dollars in the preceding three months and 1.19 billion dollars a year earlier.

The company incurred a net loss of 148 million dollars for its third fiscal quarter against 207 million dollars in the second quarter.

Microsoft incurs 238 mln dollar loss on Nook sale

Washington, Dec 05 - Microsoft has reportedly incurred losses to the tune of 238 million dollars after selling its stake in Nook e-book reader business back to Barnes and Noble.

The tech giant had purchased a 17.6 percent stake in the digital e-book reader in a 300 million dollar-deal in April 2012 but sold it back to Barnes and Noble for just 62 million dollars in cash. Microsoft is holding onto 2.7 million shares of Barnes and Noble stock, worth about 62.5 million dollars, reported the CNN.

Barnes and Noble said that the deal would allow "operational and strategic flexibility" for the Nook business.

HP nets 2 billion dollars in Q4

Hewlett-PackardWashington, Nov 26 : Hewlett-Packard has netted an income of 2 billion dollars or 70 cents per share in the fourth quarter, an earnings report released by the company said.

The company's non-GAAP earnings were 1.06 dollars per share on revenue of 28.4 billion dollars and saw a decline of 2 percent year over year, reported CNET.

The Wall Street was looking for earnings of 1.06 dollars per share on revenue of 28.76 billion dollars. Therefore, HP's shares fell slightly by 2.6 percent in after-hours trading.

The company had recorded earnings of 3.74 dollars per share and revenue of 111.6 billion dollars for fiscal 2014.

Sony reports 1.2bn dollars net loss in Q2 as mobile business takes a hit

SonyWashington, Nov 01 : Sony's mobile unit reported a net loss of 1.2 billion dollars during its fiscal second quarter as its mobile business took a hit.

According to CNET, Sony overall generated 17.4 billion dollars in revenue during its fiscal second quarter, which ended September 30.

The total revenue saw an increase of up to 7.2 percent as compared with the same period last year, which is attributed to the popularity of the company's PlayStation 4.

However, the company's mobile unit reported a quarterly operating loss of 1.6 billion dollars on 2.8 billion dollars in revenue.




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