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Tata Motors reports nearly INR 428 crore loss in net profit for second quarter of FY 015-16
2015-11-08 08:00:29| Automakers - Topix.net
Homegrown auto major Tata Motors has reported a consolidated net loss of INR 427.79 crore due to poor domestic performance and Jaguar Land Rover 's weaker sales in China, foreign exchange revaluation and higher depreciation and amortisation expenses in the British arm. The company had reported a consolidated net profit of INR 3,290.86 crore in the same quarter of the previous fiscal.
VimpelCom Posts $1 Billion Loss After Uzbek Bribery Provision
2015-11-06 18:37:03| Telecom - Topix.net
VimpelCom Ltd. swung to a quarterly loss after making a $900 million provision to cover potential U.S. and Dutch fines over bribery allegations in Uzbekistan. The carrier made a net loss of $1 billion in the third quarter, compared with a $105-million profit a year earlier, Amsterdam-based VimpelCom said in a statement Friday, citing figures excluding Italian operations.
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Tata Motors Q2 consolidated net loss at Rs 429.76 crore
2015-11-06 16:00:06| Automakers - Topix.net
Tata Motors Ltd on Friday reported a 4.3 billion rupee net loss in the July to September quarter, hit by a one-time charge and slowing sales in China, once its fastest growing market. Tata Motors Ltd on Friday reported a 4.3 billion rupee net loss in the July to September quarter, hit by a one-time charge and slowing sales in China, once its fastest growing market.
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Japan air bag maker Takata reports $46 million loss
2015-11-06 11:55:35| Automakers - Topix.net
Embattled Takata Corp. reported a half-year loss of 5.6 billion yen on Friday due to recall costs, as Toyota announced it would stop using Takata air bag inflators at the center of the company's massive product safety scandal.
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Vimpelcom posts USD 1 bln loss in Q3 on Uzbekistan provision
2015-11-06 09:06:00| Telecompaper Headlines
(Telecompaper) Vimpelcom reported a net loss of USD 1.005 billion for the third quarter, versus a profit of USD 105 million a year earlier, due to a provision of USD 900 million for possible damages from the pending investigation into its Uzbekistan activities. Underlying results were also under pressure from negative currency effects and difficult economic conditions in some of the Russian company's markets. Revenues fell 31 percent to USD 2.442 billion, and EBITDA was down 96 percent to USD 58 million. On an organic basis excluding currency effects, Vimpelcom said revenues were up 2 percent, while EBITDA excluding one-time items was down just 1 percent. The new CEO Jean-Yves Charlier said the company was sticking to its financial targets as the transformation programme started earlier this year makes progress. The company will give more details on its strategy at the full-year results penetration next year, he said. For 2015, Vimpelcom forecasts service revenue flat to a single-digit decline, the underlying EBITDA margin flat to minus 1 percent point, and capital expenditure excluding licence fees at 18-20 percent of revenue. In the first nine months of the year, service revenue was flat, the underlying EBITDA margin fell 1.2 percent points to 41.3 percent, and capital expenditure nearly halved to USD 1.137 billion, or 15.5 percent of revenue. Operating cash flow in the nine months was down 23 percent year-on-year to USD 1.887 billion, but Vimpelcom said it will pay a dividend of USD 0.035 per share in December.
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