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Top 10 business news today: Infosys Q1 profit. Idea Cellular, Gold price, SpiceJet tax case, more

Wed July 22 2015, 12:48 pm
  • infosys

    Infosys Q1 net profit up 5% at Rs 3030 cr, revenue up 12.4%

    Infosys on Tuesday posted a 5 per cent rise in its profit at Rs 3,030 crore for the first quarter of FY16 ended June 30, 2015. The global software major retained its full fiscal year sales outlook on large outsourcing deal wins from overseas clients. The company’s revenues were at Rs 14,354 crore for the April-June quarter posting a growth of 12.4 per cent, compared to the same period last year. On a quarterly basis the Q1 revenue growth was 7 per cent which is the highest in 15 quarters in dollar terms. During the quarter the company witnessed a QoQ volume growth at 5.4 per cent, highest in 19 quarters. (Reuters)

  • idea cellular

    Idea Cellular Q1 net profit jumps 28% at Rs 930.80 cr

    Telecom major Idea Cellular today posted a higher net profit of Rs 930.80 crore for the quarter ended June 30. This is against a net profit of Rs 728.20 crore in the corresponding period last year. The Mumbai-based firm had a consolidated revenue of Rs 8,798.30 crore in the said quarter as against Rs 7,561 crore in the year-ago period. The company said that the revenue figures for this quarter are not comparable to earlier quarters due to changes in the TRAI Interconnect regulations, which came in to effect from March 1, primarily reducing mobile incoming IUC charges from 20 paise to 14 paise per minute. (Reuters)

  • gold

    Gold price hits 4 year low on weak global cues, down Rs 150

    Falling for the third straight day, gold price dived by another Rs 150 to trade at almost four-year low of Rs 25,550 per 10 grams at the bullion market today after the yellow metal tumbled for the ninth straight day in global market. Furthermore, absence of seasonal buying by jewellers also weighed on the gold prices. On the other hand, silver managed to recover some grounds on the back of fresh demand from consuming industries and rose by Rs 100 to Rs 34,300 per kg. Bullion traders said global sell-offs in gold and strengthening dollar amid prospects for higher US interest rates have negatively impacted the precious metals and dragged down to almost four-year low in the national capital. (Reuters)

  • spicejet

    Court summons SpiceJet, Kalanithi Maran as accused in Income Tax cases

    Budget carrier SpiceJet Ltd, Kalanithi Maran and another top company official have been summoned as accused by a Delhi court in two tax evasion cases for their alleged failure to deposit over Rs 147 crore TDS with the Income Tax (IT) Department. Additional Chief Metropolitan Magistrate Pritam Singh issued summons to Maran, the company and its Managing Director S Natrajhen after taking cognizance on two complaints filed against them by the IT Department. The court directed them to appear before it August 21. (Reuters)

  • hdfc bank

    HDFC Bank Q1 net up 20.7 pct to Rs 2,695.72 crore, bad loans rise

    Private sector lender HDFC Bank today reported a 20.72 per cent growth in net profit at Rs 2,695.72 crore for the quarter ended June 30. The bank’s had earned a net profit of Rs 2,233.04 crore in the April-June quarter of 2014-15. The total income of the bank rose 26.25 per cent to Rs 16,502.97 crore during the quarter under review compared with Rs 13,070.65 crore in the same period last year, HDFC Bank said in a BSE filing. The net interest margin for the bank declined marginally to 4.3 per cent in the April-June quarter as against 4.4 per cent in the same period of the previous year. (Reuters)

  • tata motors

    Tata Motors offers free monsoon check-ups

    Tata Motors today announced a free monsoon check-up camp for its customers across the country from July 28 to August 2. Free service check-ups will be available at the company's 585 workshops spanning 293 cities for passenger cars and utility vehicles, Tata Motors said in a statement. (Reuters)

  • uber

    Uber rolls out cash payments across 4 more Indian cities

    Taxi hailing app Uber today said it has extended its cash payment option across 4 more cities in India – Ahmedabad, Chandigarh, Jaipur and Kochi. It had launched the facility two months back in Hyderabad in a global-first cash test. (Reuters)

  • Amazon

    Amazon offers free Wi-Fi at select bus stands in Hyderabad

    Ecommerce major Amazon.in today said it is offering free Wi-Fi service at select bus shelters in Hyderabad to enhance the convenience of shopping. In line with Amazon.in’s commitment to continually delight customer sand raise the bar for online shopping experience in India, the online marketplace has converted select bus shelters in Hyderabad into free Wi-Fi zones, a release from the e-commerce giant said. The Amazon.in free Wi-Fi hotpots will be available at 3 locations in Hyderabad – Secunderabad Bus junction, Dilshukhnagar and Ameerpet, it added. The initiative which started on July 14 will continue for a period of 20 days. (Reuters)

  • viacom

    Indian films now have a universal appeal, as a result of which they taste tremendous success in International markets. (Source: Reuters)

  • ebay

    eBay launches campaign to encourage women entrepreneurs

    To encourage women entrepreneurs to take advantage of the e-commerce growth in the country, online marketplace eBay India today launched a campaign titled #SheMeansBusiness. The campaign, in partnership with Yourstory.com, is a media platform for entrepreneurship and is inviting all online women entrepreneurs to share their success stories, eBay said in a statement. (Reuters)

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