News

Hewlett-Packard Co's earnings fell nearly 44 per cent and the world's No. 1 computer maker forecast a second-quarter profit below Wall Street estimates as it struggles with weak sales of PCs and printers.

Computer maker Dell said its net income declined by 18 per cent to $764 million in fourth quarter of FY'12

Diversified business group Mahindra & Mahindra on Tuesday posted a consolidated profit of Rs 831.8 crore

The company had reported a Rs 3,986 crore net loss in the third quarter after a one-time reversal of sales tax revenue.

Its consolidated net sales increased 30.82 per cent to Rs 87.30 crore compared to Rs 66.73 crore.

Kingfisher Airlines posted a net loss of Rs 444 crore in the third quarter ending December 2011 against Rs 254 crore loss in the year ago period. Never having posted a profit since its 2005 launch, major public sector banks have declared the airline a non-performing asset.

If you missed our coverage today, here is a quick summary.

AMR Corp., the parent of American Airlines, said Wednesday that it lost $1.1 billion in the fourth quarter

Debt-laden Kingfisher Airlines said on Thursday its net losses almost doubled in the last quarter of 2011, plunging it further into a financial crisis that threatens its survival. The airline has been under stress from lenders to bring in more equity but has so far been unable to find investors.

The street has decided to reward the company for a better operating performance during the December 2011 quarter.

Higher profits were on the back of strong operating margins from Jaguar and Land Rover (JLR).

Asian markets traded firm on Wednesday on optimism that Greece will commit to austerity measures.

In the October-December quarter last fiscal, RBNL's consolidated net loss was Rs 4.58 crore, the company said in a filing to the BSE.

In the year ago period, the company had posted a net profit of Rs 27.41 crore in the corresponding quarter of last year.

Net sales of the company stood at Rs 493.62 crore, an increase of 10.32 per cent, in the third quarter ended December 31, while the same was Rs 447.41 crore in the same period previous fiscal.

Net sales rose to Rs 1,954.68 crore during Q4, 2011, compared to Rs 1,670.96 crore in the same period 2010.

Unitech said its net debt reduced by Rs 383.59 crore in the first nine months of the current fiscal, 2011-12 and stood at Rs 5,190.26 crore as on December 31, 2011.

Total sales during the period stood at Rs 422.57 crore, registering an 8.8 per cent decline over Rs 463.35 crore in the corresponding period last year.

The consolidated total income has increased to Rs 371.93 crore for the quarter under review, from Rs 366.18 crore for the same quarter last year.