(Reuters) – Engineering firm Honeywell Automation India reported a 5.6% fall in its second-quarter profit on Tuesday, hurt by slowing demand. The Indian arm of U.S. conglomerate Honeywell International said its profit fell to 1.15 billion rupees ($13.7 million) for the three months ending Sept. 30 from 1.22 billion rupees a year ago. Honeywell Automation …
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By Kashish Tandon and Rishika Sadam (Reuters) -Cipla, India’s third-largest generic drugmaker by sales, reported a 15.2% rise in second-quarter profit that beat estimates, driven by higher sales of its respiratory and cancer drugs in its key North America and India markets. Sales in North America grew 5% during the quarter, driven by Cipla’s respiratory …
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(Reuters) – Indian consumer goods maker Marico reported second-quarter profit well above market estimates on Tuesday, propped up by price hikes undertaken to offset higher raw material prices. The company reported a near-20% rise in consolidated net profit to 4.23 billion rupees ($50.3 million) for the three months ended Sept. 30. Analysts were expecting a …
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(Reuters) – India’s GlaxoSmithKline Pharmaceuticals reported a higher second-quarter adjusted profit on Tuesday, driven by strong demand for its generic drugs and vaccines. The Indian unit of British drugmaker GSK said its consolidated profit before tax rose to 3.44 billion rupees ($41 million) in the July-September quarter, from 2.99 billion rupees year ago. The latest …
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MUMBAI (Reuters) – The total quantum of gold being held by India’s central bank in its foreign exchange reserves rose by the end of September, while the proportion of the yellow metal held domestically also jumped sharply, according to a half-year forex reserves management report on Tuesday. As of end-September, the Reserve Bank of India …
Indian cenbank’s domestically-held gold reserves jump by end-Sept, report shows Read More »
(Reuters) -India’s Adani Enterprises reported a more than seven-fold surge in second-quarter profit on Tuesday, as higher demand in its renewable energy division overshadowed weakness in the mainstay coal trading segment. The ports-to-power Adani Group’s flagship firm posted a consolidated net profit of 17.42 billion rupees ($207.20 million) for the quarter ended Sept. 30, up …
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(Reuters) – India’s SBI Cards and Payment Services reported a 33% drop in second-quarter profit on Tuesday, as bad loans write-offs and provisions rose. Profit after tax fell to 4.04 billion rupees ($48.1 million) for July-September from 6.03 billion rupees a year earlier. Indian lenders have been grappling with elevated bad loans in unsecured segments …
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By Bharath Rajeswaran and Hritam Mukherjee (Reuters) -Indian shares ended higher on Tuesday, as gains in banking stocks helped the indexes reverse course in the final hour of trading after having spent the day under pressure due to some tepid earnings reports and persistent foreign selling. The NSE Nifty 50 rose 0.52% to 24,466.85, while …
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(Reuters) -Maruti Suzuki, India’s top carmaker by sales, reported its slowest quarterly revenue growth in nearly three years on Tuesday, hurt by low demand for small cars and bigger discounts, which weighed on margins and sent its shares sliding 6%. The ‘Brezza’ SUV manufacturer’s standalone revenue from operations rose 0.4% to 372.03 billion rupees ($4.43 …
Indian carmaker Maruti Suzuki’s revenue slows to near 3-year low, shares slide Read More »
(Reuters) – Indian electrical appliances manufacturer V Guard Industries reported a smaller-than-expected 7.5% rise in its second-quarter profit on Tuesday, as monsoon rainfall dampened demand for cooling products and surging expenses ate into margins. Consolidated net profit rose to 633.9 million rupees ($7.54 million) for the three-month period ended Sept. 30, from 589.5 million rupees …
Indian appliances manufacturer V Guard misses Q2 profit view on weak demand, margin hit Read More »
