Millennium Post - - BUSINESS -

MUMBAI: Fol­low­ing its peers, the sec­ond largest telco Voda­fone In­dia on Tues­day re­ported a steep 39.2 per cent plunge in pre-tax profit at Rs 4,075 crore for the six months to Septem­ber as its rev­enue fell 15.8 per cent to Rs 19,002 crore due to the fierce com­ple­tion since the en­try of Re­liance Jio.

The com­pany, which is on course to merge with the third largest player Idea had Rs 22,579 crore in rev­enues, and an op­er­a­tional profit of Rs 6,704 crore a year ago, which is down 39.2 per cent.

Voda­fone at­trib­uted the poor set of num­bers to the con­tin­u­ing price competition from Jio and in­cum­bents, sea­son­al­ity and higher GST rate.

Ser­vice rev­enue fell 15.8 per cent to Rs 19,002 crore in H1 while Ebidta plunged 39.2 per cent to Rs 4,075 crore from Rs 6,704 crore, it said in a state­ment.

This is de­spite the fact that the com­pany had strong per­for­mance on cost de­liv­er­ing an Ebitda mar­gin of 21.4 per cent as "data us­age quadru­pled dur­ing the pe­riod" and had an op­er­at­ing free cash flow of Rs 1,543 crore.

The com­pany also in­creased its rev­enue mar­ket share (RMS) by 60 bps to 23.1 per cent dur­ing the re­port­ing pe­riod as its cus­tomer base rose 3.3 per cent to 207 mil­lion. NEW DELHI: State-owned gas util­ity GAIL In­dia Ltd on Tues­day re­ported a 41.6 per cent jump in its sec­ond quar­ter profit as earn­ings from gas trans­porta­tion and mar­ket­ing busi­ness soared.

Net profit in July-septem­ber at Rs 1,309.63 crore, or Rs 7.74 a share, was 41.6 per cent higher than Rs 924.65 crore, or Rs 5.47 per share, in the same pe­riod a year ago, the com­pany said.

GAIL, which owns the big­gest nat­u­ral gas pipe­line net­work in the coun­try, earned Rs 853.48 crore pre-tax profit from gas trans­mis­sion busi­ness in the quar­ter as com­pared to Rs 660.74 crore last year.

The firm trans­ported and NEW DELHI: Chi­nese hand­set maker Xiaomi caught up with in­dus­try leader Sam­sung to share the top spot in In­dia's smart­phone mar­ket for the Septem­ber quar­ter with each player ac­count­ing for 23.5 per cent share, re­search firm IDC said on Tues­day.

Smart­phone ship­ments in In­dia reached a record high of 39 mil­lion units in the Ju­lySeptem­ber quar­ter -- which also sees high sales on ac­count of fes­tive sea­son.

Ship­ments grew 40 per cent from the pre­vi­ous quar­ter and 21 per cent over the year-ago pe­riod, IDC said, adding that In­dia ac­counted for about 10 per cent of the global smart­phone ship­ments this quar­ter.

Other play­ers in the tally in­cluded Len­ovo-mo­torola (9 per cent), vivo (8.5 per cent) mar­keted 5 per cent more gas vol­umes in the July-septem­ber quar­ter, the state­ment said.

Earn­ings from nat­u­ral gas mar­ket­ing rose 27 per cent to Rs 419.74 crore while the same from petro­chem­i­cal busi­ness and Oppo (7.9 per cent).

"In the com­ing few quar­ters, both Sam­sung and Xiaomi would need to fur­ther strengthen their chan­nel play and sig­nif­i­cantly dif­fer­en­ti­ate their prod­ucts on tech­nol­ogy and qual­ity to sus­tain and fight for lead­er­ship in this hy­per com­pet­i­tive smart­phone mar­ket," IDC In­dia Se­nior An­a­lyst Upasana Joshi said.

In a state­ment, Xiaomi said it had shipped 9.2 mil­lion smart­phones dur­ing the quar­ter and has seen a growth rate of nearly 300 per cent year-on-year.

Sam­sung, which reg­is­tered 23 per cent year-on-year growth, saw mod­els like Gal­axy J2, Gal­axy J7 Nxt, and Galaxyj7 Max con­tribut­ing to al­most 60 per cent of its vol­ume, as per IDC data. nearly halved to Rs 88.81 crore.

Rev­enue fell by about one per cent to Rs 12,409.65 crore.

GAIL said all the busi­ness seg­ments reg­is­tered pos­i­tive phys­i­cal growth both se­quen­tially and on year-on-year ba­sis.

"The in­crease in net profit in Q2 FY 2017-18 on year-on- year ba­sis, was sup­ported by in­crease in nat­u­ral gas trans­mis­sion and mar­ket­ing vol­umes by 5 per cent each, LPG trans­mis­sion by 11 per cent, petro­chem­i­cals sales by 29 per cent and liq­uid hy­dro­car­bon sales by 17 per cent," it said.

On half yearly ba­sis, net profit at Rs 2,335 crore was 32 per cent higher than year ago profit. NEW DELHI: Emi­nent char­tered ac­coun­tant Sethu­rath­nam Ravi has been ap­pointed as the chair­man of the lead­ing stock ex­change BSE.

Ravi, who was a pub­lic in­ter­est di­rec­tor at the BSE, re­places Dhiren­dra Swarup.

In a reg­u­la­tory fil­ing, BSE said that Sebi has "ap­proved the ap­point­ment of Ravi, pub­lic in­ter­est di­rec­tor as the chair­man of the board of di­rec­tors of the com­pany with ef­fect from Novem­ber 13, 2017".

He has ex­pe­ri­ence of hold­ing a num­ber of po­si­tions on the board of banks, fi­nan­cial in­sti­tu­tions and as­set man­age­ment com­pa­nies in the fi­nan­cial sec­tor. Presently, Ravi serves as a di­rec­tor on boards of var­i­ous com­pa­nies such as UTI Trustee Com­pany, S Ravi Fi­nan­cial Man­age­ment Ser­vices.

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