Category: Breaking Corporate India Earnings News

Infrastructure Financier, IDFC reported profits of Rs3.8bn (+21% YoY, 13% QoQ). Loan book grew by 4% QoQ and 34% YoY
(vs. 10% QoQ, 28% YoY in QE Mar-2012). IDFC disbursed Rs45bn of new loans this quarter – vs. Rs60bn in QE Mar-12.

Incremental disbursements this quarter were driven mainly by the energy (more…)

The Industrial production (IP) growth decelerated to -1.8%YoY in June 2012 from +2.5%YoY in May. The manufacturing segment output weakened by -3.2%YoY as compared with growth of 2.6%YoY in May. Within manufacturing, industry group electric machinery and apparatus contributed most to the weakness, declining by 56%YoY, followed by food product and beverages (-5.7%), tobacco products (-5.4%) and motor vehicles.

Capital goods output declined sharply by 27.9%YoY in June, (more…)

AS the Government went into Paralysis with Scams and massive Corruption in every nook and corner of the country, Regulators became super active. Thanks to the Honorable Supreme Court of India delivering Landmark judgement in Telecom Spectrum Scam which gave a big boost to other Lower Courts and other Institutions to deliver Justice without any fear or greed.

A year ago, we had published the dark side of Union Minister KamalNath openly demanding his cut in awarding Highway Tenders. During his regime as Commerce Minister (more…)

The S&P report indicated that how the government reacts to the current slowdown – and any external shocks – would determine, in large part, whether India can maintain its investment-grade rating or, as the report put it, become the first fallen angel among the BRIC (Brazil, Russia, India, China) nations. India’s current sovereign rating is BBB- , one downgrade away from losing investment-grade status.

S&P is mainly worried (more…)

Indian oil companies will raise gasoline (petrol) prices by INR 7.5 per litre or 11-12% at the retail level, effective midnight tonight. Petrol has a weight of 1.1% in the wholesale price index (WPI) and this increase will raise the headline WPI inflation rate by around 20bp. Since petrol prices are technically decontrolled, the hike will not impact the fiscal subsidy bill.

Given that price adjustment by the oil marketing companies (more…)

India’s headline inflation rate (Wholesale Price Index, WPI) accelerated to 7.23% YoY in April 2012, compared to 6.89% YoY in March 2012. The acceleration in headline inflation was driven by higher food inflation, which was in turn driven by higher prices of vegetables and oilseeds. The final inflation data for February 2012, was revised higher to 7.36% YoY from 6.95% YoY reported earlier.

Food articles moved substantially higher to 10.5% from 9.9% last month, due to an upturn in vegetables, pulses, and cereals. Manufactured FOOD prices edged higher to 6.5% in April from 5.9% the previous month.

Non-Food Articles were back (more…)