India’s GDP to grow at 6.4% in December quarter: ICRA
ICRA projected the economy to grow at 6.4 per cent in Q3 from 5.4 per cent in Q2, benefitting from enhanced government spending amid uneven consumption.
ICRA projected the economy to grow at 6.4 per cent in Q3 from 5.4 per cent in Q2, benefitting from enhanced government spending amid uneven consumption.
Steel Authority of India’s profit slumped 62 per cent year-on-year to Rs 126 crore in the December quarter. This was hit by lower prices of steel, even as higher sales volume boosted revenue from operations.
Its total revenue from operations grew by 8 per cent to Rs 3,932.38 crore during the quarter under review, company’s data showed.
The consolidated revenue from operations decreased to Rs 72.03 crore for the quarter under review from Rs 428.73 crore in the same period last fiscal, HCL Infosystems said in a regulatory filing.
An increase in consolidated profit also resulted in a rise in total consolidated income to Rs 4,274.79 during the quarter under review.
Its total income increased to Rs 24,416 crore whereas, it stood at Rs 23,638 crore in the year ago period.
The other income came down 8 per cent to Rs 1,646 crore, which resulted in an only 4 per cent increase in the overall income to Rs 5,052 crore.
It was profit margins, that expanded by 1.70 per cent to at the operating level to 15.9 per cent, which helped the bottom line.
Its total expenses stood at Rs 16,406.81 crore, compared to Rs 17,312.64 crore a year ago.
Its total income during the October-December quarter rose to Rs 23,621 crore from Rs 22,007 crore in the year-ago period, the filing said.
