India’s smartphone market contracted by 4% to 150 million units in 2020
Thu, Jan 28, 2021 9:30 AM

India’s smartphone market contracted by 4% to 150 million units in 2020

India's smartphone shipments reduced by 4% to over 150 million units in the pandemic-hit 2020 on the back of high consumer demand post-lockdown and new working models like work from home and learn from home settings. The smartphone market grew 19% YoY in the December 2020 quarter, as the festive season offers got extended due to Diwali falling late on November 14.

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New supercomputer in Wyoming emerges fastest in the world
Thu, Jan 28, 2021 9:20 AM

New supercomputer in Wyoming emerges fastest in the world

An upcoming supercomputer in Wyoming will emerge the fastest in the world. It will help study phenomena including climate change, severe weather, wildfires and solar flares. Houston-based Hewlett Packard Enterprise won a bid to provide the dollar 35 million to dollar 40 million machines for a supercomputing center in Cheyenne, the National Center for Atmospheric Research in Boulder, Colorado.

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Mark Zuckerberg stated that WhatsApp Privacy Policy update is ‘optional’
Thu, Jan 28, 2021 9:11 AM

Mark Zuckerberg stated that WhatsApp Privacy Policy update is ‘optional’

Mark Zuckerberg defended WhatsApp’s much-bashed privacy policy update, justifying that it is aimed at easing “optional experiences for businesses in the app”. He further expressed, “We are building new features to make it even easier to transact with businesses in the app. We're building tools to let businesses store and manage their WhatsApp chats using our secure hosting infrastructure."

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Amazon feels e-commerce will play crucial role in "Atmanirbhar Bharat"
Thu, Jan 28, 2021 9:00 AM

Amazon feels e-commerce will play crucial role in "Atmanirbhar Bharat"

Amazon expects that e-commerce will play an influential role in the "Atmanirbhar Bharat" mission as more homegrown brands scale up and go global, leveraging digital infrastructure. Though e-commerce is at nascent stages in India and hardly representing barely 3% of the country''s total retail consumption, it would witness a structural shift to achieve the vision of Digital India.

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InterGlobe Aviation Q3 results! What can investors expect?
Thu, Jan 28, 2021 8:50 AM

InterGlobe Aviation Q3 results! What can investors expect?

InterGlobe Aviation is likely to post its Q3 2020 result today. Kotak Institutional Equities forecasted a 52% YoY decline in revenues on account of around 50 YoY decline in passenger volumes. The company had posted a profit of Rs 490.5 crore in the corresponding period of the previous fiscal. However, the number is expected to improve significantly on a sequential basis

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Apple’s India business ‘roughly doubled’ in Dec 2020
Thu, Jan 28, 2021 8:40 AM

Apple’s India business ‘roughly doubled’ in Dec 2020

Apple’s India business “roughly doubled" in the Q3 2020, said CEO Tim Cook, while answering an analyst’s question during an earnings call today. He further added, “Last quarter was the first full quarter of the online store and that has gotten a great reaction to it and helped us achieve the results that we got to last quarter. We’re also going in there with retail stores in the future."

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Strongest quarter ever for Apple, iPhone sales increased by 17%
Thu, Jan 28, 2021 8:30 AM

Strongest quarter ever for Apple, iPhone sales increased by 17%

Q3 2020 was the most profitable quarter to date for Apple. It generated $111.4 billion in quarterly sales in the Q3 2020. The company’s profits rose by 29% to $28.76 billion in the quarter, driven by growth in all product segments. While iPhone revenues fell in the last quarter, the Q3 saw YoY growth of over $65 billion, a 17% growth from the same quarter in the previous year.

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Canara Bank Q3 standalone net profit declines by 9% to Rs 696 crore
Thu, Jan 28, 2021 8:20 AM

Canara Bank Q3 standalone net profit declines by 9% to Rs 696 crore

Canara Bank on Wednesday reported a 9% decline in its standalone net profit to Rs 696 crore on higher provisioning. The bank amalgamated Syndicate Bank with itself effective April 1, 2020. The amalgamated entity had posted a standalone profit after tax of Rs 764 crore in the Q3 of the previous fiscal. The pre-amalgamation standalone profit in Q3 FY21 stood at Rs 329.62 crore.

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Mahindra EPC Irrigation announces a flat Q3 PAT at Rs 7.70 crore
Thu, Jan 28, 2021 8:10 AM

Mahindra EPC Irrigation announces a flat Q3 PAT at Rs 7.70 crore

Mahindra EPC Irrigation on Wednesday announced a flat consolidated profit after tax (PAT) of Rs 7.70 cr for the quarter ended December 2020. The company's PAT stood at Rs 7.64 cr during the corresponding quarter of 2019-20. The company's consolidated revenue from operations dipped 2.37% to Rs 80.73 cr compared to Rs 82.69 cr during the same period of the previous financial year.

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Rs 35.44 crore Q3 net profit posted by UCO Bank
Thu, Jan 28, 2021 8:00 AM

Rs 35.44 crore Q3 net profit posted by UCO Bank

UCO Bank on Monday announced a net profit of Rs 35.44 crore for the Q3 2020, on account of lower provisioning for bad loans. The Kolkata-based bank had reported a net loss of Rs 960.17 crore during the Q2 period of the previous fiscal year. Total income, however, fell marginally to Rs 4,466.97 cr in the Q3 of the current fiscal as against Rs 4,514.21 cr reported in the same period of 2019-20.

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Quess Corp Q3 PAT declines by 39% at Rs45.6cr on higher taxes
Thu, Jan 28, 2021 7:50 AM

Quess Corp Q3 PAT declines by 39% at Rs45.6cr on higher taxes

Quess Corp posted -4.8% lower revenues for the Q3 on a consolidated basis at Rs2808cr. The company saw fall in revenues across the three key verticals viz. workforce management, operating asset management and global technology solutions. For the Q3, the consolidated operating profits were down 16.75% at Rs94.6cr. The consolidated PAT for the Dec-20 quarter was down -39.11% at Rs45.58cr.

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Yes Bank co-founder Rana Kapoor arrested by ED in new money laundering case
Thu, Jan 28, 2021 7:30 AM

Yes Bank co-founder Rana Kapoor arrested by ED in new money laundering case

ED arrests Yes Bank co-founder Rana Kapoor on Wednesday in a fresh money laundering case linked to alleged diversion of Rs 200 cr bank loan fund. Kapoor, 63, is lodged in a Mumbai jail since March last year after he was arrested by the central probe agency in connection with alleged financial irregularities. The Bombay High Court had recently rejected yet another bail plea of Kapoor.

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Emami Q3 profit increases by 45% at Rs 209 crore
Thu, Jan 28, 2021 7:15 AM

Emami Q3 profit increases by 45% at Rs 209 crore

Emami Ltd on Wednesday announced a 44.67% rise in consolidated net profit at Rs 208.96 crore for Q3 2020 helped by sales growth and cost control measures. The company had posted a profit after tax of Rs 144.44 crore for the year-ago period. Revenue from operations was up 14.89 per cent at Rs 933.61 crore in the quarter under review as against Rs 812.64 crore in the same period a year ago.

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Double digit growth in Q3 net profit might be registered by Maruti Suzuki
Thu, Jan 28, 2021 7:00 AM

Double digit growth in Q3 net profit might be registered by Maruti Suzuki

Maruti Suzuki is expected to register double-digit growth in net profit and revenue for the quarter ended December 31, on the back of a sharp recovery in vehicle sales during the quarter, especially the festival season. The carmaker may post a 13% YoY increase in net profit to ₹1775.6 crore as a result of a 13% jump in net sales to 23417.3 crore, according to a brokerage.

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United Spirits Q3 profit increases almost 21% to Rs 280.3 crore
Wed, Jan 27, 2021 11:34 PM

United Spirits Q3 profit increases almost 21% to Rs 280.3 crore

United Spirits Ltd (USL) on Wednesday announced a 20.82% rise in consolidated net profit at Rs 280.3 crore for the Q3 2020. USL had posted a net profit of Rs 232 crore in the 2019 December quarter. The company's revenues from operations climbed 7.65% to Rs 8,410.3 crore in the latest December quarter. In the year-ago period, the same stood at Rs 7,812.3 crore.

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