The nation's largest car maker, Maruti Suzuki India Ltd recently announced that quarterly profit plunged by 54.3%, lagging forecasts in the midst of high raw material costs, lower volumes and adverse impact of currency changes.
On Thursday, New Delhi-based Maruti informed that its net profit plunged to 2.14 billion rupees ($43.8 million) in its fiscal Q3 ended December.
The company confirmed that there is a fall by 2.8% in the net sales to 46.26 billion rupees.
Chennai-based commercial vehicle manufacturer and Hinduja Group owned company, Ashok Leyland announced financial results for the third quarter of current financial year.
The company, under the impact of lower sales due to economic slowdown, posted decline of 82.64 per cent in net profit for the Q3 ended December, 2008. It stood at just Rs 21.09 crore in the reporting quarter as compared to Rs 121.49 crore during the same quarter last year.
Decline in input cost prices and strong performance by hair and skin care category helped Dabur India Ltd to show good results in the third quarter of current financial year. The firm posted a rise of 16.1% in net profit for Q3 ended December 31, 2008 despite low customer spending and tight financial conditions.
Sunil Duggal, Chief Executive, Dabur India said, "Even in the current economic scenario, demand for our everyday use products continue to be strong and we have not seen any significant impact on consumer spending." He hoped that the firm would continue to expand its business in next financial year despite global slowdown.
Higher input costs and global slowdown adversely hit the business of state operated Steel Authority of India (SAIL) for the third quarter of current financial year.
The steel giant registered 56.4% decline in net profit for the quarter ended December 31, 2008 leading to a setback for its expansion plans amid recessionary waves across the world.
Tokyo - Sumitomo Mitsui Financial Group Inc, Japan's third-largest bank, on Wednesday reported a 74-per-cent decline in profits for the first nine months of the fiscal year.
Net profit for April through December dropped to 83.4 billion yen (934 million dollars) after 319.5 billion yen in the same period last year.
Responsible for the slump were a radical rise in credit costs as well as losses generated by dropping stock values, the company said.
Operating profit dropped from 3.2 trillion yen to 2.8 trillion yen year-on-year.
San Francisco - Troubled internet pioneer Yahoo swung to a quarterly loss Tuesday because of severance pay and write downs on its European properties.
Despite recording a 303-million-dollar loss in the fourth quarter, the company's results beat expectations as its revenues and operating profit held up well in the dire economic climate.
The nation's largest car maker, Maruti Suzuki India Ltd recently announced that quarterly profit plunged by 54.3%, lagging forecasts in the midst of high raw material costs, lower volumes and adverse impact of currency changes.
Chennai-based commercial vehicle manufacturer and Hinduja Group owned company, Ashok Leyland announced financial results for the third quarter of current financial year.
Decline in input cost prices and strong performance by hair and skin care category helped Dabur India Ltd to show good results in the third quarter of current financial year. The firm posted a rise of 16.1% in net profit for Q3 ended December 31, 2008 despite low customer spending and tight financial conditions.
Higher input costs and global slowdown adversely hit the business of state operated Steel Authority of India (SAIL) for the third quarter of current financial year.
Tokyo - Sumitomo Mitsui Financial Group Inc, Japan's third-largest bank, on Wednesday reported a 74-per-cent decline in profits for the first nine months of the fiscal year.
San Francisco - Troubled internet pioneer Yahoo swung to a quarterly loss Tuesday because of severance pay and write downs on its European properties.
