Posted by Yogesh on Wednesday, 22 October, 2008
SAN FRANCISCO (MarketWatch) — Yahoo Inc. on Tuesday posted a sharply-reduced third-quarter profit and said it will trim its workforce by at least 10% as the Internet company struggles to mount a turnaround despite the troubled economy.
Sunnyvale, Calif.-based Yahoo said net income in the quarter fell to $54.3 million, or 4 cents a share, from $151.3 million, or 11 cents a share, in the same period a year earlier.
Excluding special items, Yahoo said earnings for the period ended in September fell to 9 cents a share. Net revenue rose to $1.33 billion.
Analysts on average had estimated Yahoo would report earnings of 8 cents a share for quarter and $1.37 billion in net revenue, according to FactSet Research. Read the rest of this entry »
Posted in Financial Result, Technology | Tagged: Yahoo | Leave a Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
MUMBAI: Technology major Wipro’s net profit in the September quarter rose 8.89 per cent to Rs 978.20 crore compared with Rs 898.30 crore in the previous quarter.
It reported net sales of Rs 6519.60 crore for the quarter ended September 30, 2008 against Rs 5981.10 crore in the Apr-Jun quarter.
On a standalone basis, the IT firm’s net profit climbed 56 per cent to Rs 852.50 crore in the July-Sep quarter against Rs 546 crore in the last quarter. Net Sales stood at Rs 5405 crore in the Sep quarter compared with Rs 4704.60 crore for the quarter ended June 30, 2008. Read the rest of this entry »
Posted in Financial Result | Tagged: Wipro | Leave a Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
BANGALORE: At a time when fear of job losses rules the mind of many, IT major Wipro on Wednesday said it had made 8,000 campus offers this fiscal.
Allaying fears that global meltdown might have an impact on new recruits’ joining the company, Wipro’s Corporate Vice-President, Human Resources, Pratik Kumar said there had been no delay in new recruits joining the company.
In normal routine students were not absorbed at one-go but were taken in, spread over various quarters of the fiscal year, he said.
Those who received offers this year are expected to join the firm, spread over various quarters next fiscal. Read the rest of this entry »
Posted in Corporate News, Technology | Tagged: Wipro | Leave a Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
Oct 22 (Reuters) – Three months ended Sept 30.
(Versus the same period a year earlier, in billion rupees unless stated)
Net profit 2.89 vs 2.50
Total income 247.32 vs 156.31
NOTE: Reliance Infrastructure Ltd is a power generator and also builds infrastructure projects.
Source Reuters
Posted in Financial Result | Tagged: Reliance Infrastructure | Leave a Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
MUMBAI, Oct 22 (Reuters) – Tata Consultancy Services Ltd, India’s top software services exporter, posted a 1.2 percent rise in quarterly profit, lagging expectations, as the global economic downturn crimped outsourcing.
The company, part of India’s Tata Group that has interests in cars, commodities and services, said on Wednesday net profit in the September quarter rose to 12.62 billion rupees ($256 million) from 12.47 billion a year earlier under U.S. accounting rules.
A Reuters poll of brokerages had forecast a net profit of 13.74 billion rupees for Tata Consultancy, which caters to firms including General Electric Co, Lloyds TSB Group, French insurer AXA SA and Qantas Airways . Read the rest of this entry »
Posted in Financial Result | Tagged: TCS | Leave a Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
WASHINGTON: President George W Bush will host a summit on November 15 in Washington, DC, area to discuss the global financial crisis and ways to prevent it from happening again, the White House announced on Wednesday.
“This will be the first in a series of summits that bring together leaders from countries that participate in the G-20 finance process to discuss current economic challenges.
The so-called G-20 includes the Group of Seven advanced industrial countries and the European Union as well as China, Brazil, India, Russia, South Korea and other major economies.
At the first meeting, working groups will be set up to develop recommendations to be considered by leaders in subsequent summits.
The White House will host a dinner on the eve of the summit. The location of the meeting, however, has not yet been announced.
Bush, French President Nicolas Sarkozy and European Commission President Jose Manuel Barroso, who met at the Camp David, Md., presidential retreat last week, announced the series of summit, saying the international community needs to work together to address the credit crisis that has shaken markets around the globe. Source The Economic Times
Posted in World News | 1 Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
WASHINGTON: The World Bank has approved a $400 million loan to the Power Grid Corporation of India, designed to increase reliable power exchange between regions and states. Power Grid is the world’s third largest transmission utility.
The loan, from the International Bank for Reconstruction and Development (IBRD), approved Tuesday is backed by a Republic of India guarantee, the Bank said. It has a 30 year maturity which includes a four-year grace period.
The additional financing to the Fourth Power System Development Project (PSDP IV), which was approved by the World Bank on March 18 this year, will finance the completion of selected transmission schemes intended to expand transmission system and capacity. Read the rest of this entry »
Posted in Corporate News | Tagged: Power Grid | Leave a Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
TOKYO: Japan on Tuesday signed its biggest ever loan deal for an overseas project to help India build a major railway between New Delhi and Mumbai.
Indian Prime Minister Manmohan Singh and his Japanese counterpart Taro Aso signed the deal at a summit in Tokyo. Japan will initially provide some 450 billion yen ($4.5 billion) in low-interest loans to India.
India will use the money to build a freight railway between its political and economic capitals, hoping to improve its creaky infrastructure blamed for holding back the fast-growing economy.
The joint statement said that the so-called Western Corridor, which will also include economic projects around the railway, would be “the new flagship project of India-Japan cooperation.” The two leaders “also recognised that there is still immense untapped potential for the expansion of bilateral relations,” it said.
Aso, who took office last month, has long advocated building relations with fellow democracy India to offset frequent tension in Japan’s relationship with China. Source The Economic Times
Posted in Indian Economy | Leave a Comment »
Posted by Yogesh on Wednesday, 22 October, 2008
NEW DELHI: Finance Minister P Chidambaram on Wednesday said that seven PSU banks having a capital adequacy ratio of below 10% would be recapitalised.
“We can again re-visit policy rates if liquidity remains benign and inflation continues to moderate.” Chidambaram added
Yesterday, Chidambaram held a meeting with senior bankers in the backdrop of easing liquidity situation following a slew of measures taken by both RBI and the government.
“The meeting reviewed situation in the light of easing liquidity situation,” Punjab National Bank Chairman and Managing Director K C Chakrabarty said. Read the rest of this entry »
Posted in Indian Economy | Leave a Comment »
RSS 
Email 
