San Francisco - Microsoft reported a drop in quarterly revenues Thursday for the first time in the 23 years since it went public.

But investors still gave the world largest software company their approval, sending Microsoft shares higher in after-market trading as its aggressive cost cutting measures preserved profitability.

San Francisco - Amazon.com posted an 18-per-cent boost in sales and a 24 per cent rise in profits as the online retail giant shrugged off the effects of the economic downturn.

The Seattle-based retailer said that it earned 177 million dollars in the first quarter, compared to 143 million dollars a year ago. Sales were up to 4.89 billion dollars compared to 4.13 billion dollars a year ago.

FMCG company Marico has finally agreed to sell its stake in Sundari LLC to US-based Wellness Systems (WS), for an undisclosed amount.

Sundari LLC is engaged in the manufacturing and marketing of skincare cosmetics and accessories, primarily in the US and Europe.

While, Wellness Systems is a limited liability company promoted by two of Marico Group's senior managers who were in charge of the Sundari business.

However, it should be noted that the transaction is, subject to necessary regulatory approvals.

Mahindra & Mahindra Financial Services Ltd, the wholly-owned subsidiary of automotive giant Mahindra & Mahindra, has posted a net profit of Rs 109.95 crore for the quarter ended March 31, 2009 as compared to Rs 76.90 crore for the quarter ended March 31, 2008.

In addition, the company has also registered jump in its total income from Rs 364.09 crore for the quarter ended March 31, 2008 to Rs 401.50 crore for the quarter ended March 31, 2009.

Revenue declined by 0.95 % YoY to Rs. 209.3 crs for 4Q 09, whereas it increased 10.12% to Rs. 774.4 crs in FY 2009.

Operating profit declined by 8.94% y?o?y to Rs. 59.7 crs for 4Q 09, while it increased 26.2% to Rs. 182.0 crs for the year driven by decline in raw material costs. Raw material costs as a percentage of revenue declined from 52.3% in FY 2008 to 49.5% in FY 2009

Depreciation increased by 45.3% in 4Q 09. Whereas in FY 2009 it increased by 47.7% to Rs. 8.2 crs.

Hindustan Zinc, a part of the dynamic Vedanta Resources group, has declared the results for the three-month period ended March 31, 2009.

For the period under review, India's leading zinc producer said that it has posted a decline of 53.35% in its net profit, which stood at Rs 551.47 crore as against Rs 1,182.20 crore during the corresponding period of the last year (March 2008).

The company’s total income during the fourth quarter witnessed a fall of 39.39% to Rs 1,483.15 crore from Rs 2,446.97 crore in the fourth quarter of FY 2008.