Please enable JavaScript.
Coggle requires JavaScript to display documents.
KARTHIKA 5 - Coggle Diagram
KARTHIKA 5
Tata Steel slips into red, logs Q4 loss at 1,499 cr.
Tata Steel reported a consolidated pretax loss of 1,499.45 crore in the quarter ended March 31, 2020, against a profit before tax of 4,252.50 crore in the corresponding period last year. This was on the back of weak revenue and a slew of exceptional items, which further dented earnings of the company.
In the final quarter of FY20, the company’s top line stood at 32,866 crore, down 20 per cent from same period last year. This is because weak demand amid the slowing economic growth impacted domestic as well as overseas operations.
a slew of exceptional items (most of which were losses) comprising impairments, employee separation compensation and restructuring, among others, led to a loss of 3,405.85 crore.
India operations contributed 2,009 crore to the total loss reported under the exceptional items category.
the company reported a consolidated net loss at 1,615.35 crore against a net profit of 2,295.25 crore in the same period last year.
Steel and mining were exempt from
the lockdown measures, albeit subject to certain guidelines. However, steel demand was affected.
The net loss at India operations widened further to 437 crore as tax expenses worth 341 crore dragged the bottom line. The company’s net profit in same period last year stood at 2,491 crore.
-
MRF has reported a 28 per cent drop om profit before tax (PBT) of Rs 291.81 crore during the quarter ended March 31, 2020, from Rs 408.83 crore, a year ago. Total income fell to Rs 3,682.66 crore from Rs 4,182.92 crore.
Due to the lockdown, March 2020 quarter saw a drop in total income of Rs 399.57 crore from the December 2019 quarter and a drop of Rs 500.26 crore year-on-year.
The tyre industry has been facing demand problems emanating from the crisis that the automobile sector has been facing for some time
The way forward isn't clear as the pandemic has brought in uncertainties both for the auto sector and for the tyre industry.
the government's announcement of putting restrictions on the import of tyres is likely to be of immense help to the tyre industry at a difficult time like this, said the company.
-
-
Any further escalation in the India-China conflict may jeopardise Indian IT services firms’ business relationship with Huawei as many of them count the Chinese telecom giant as a client as well as a goto-market partner
Among the Indian IT companies, top-tier firms such as TCS, Infosys, Wipro and Tech Mahindra are learnt to be service providers for Huawei
Infosys, for example, has a partnership with Huawei in cloud and data analytics space while Tech Mahindra has tied up with the company in the
enterprise products space
“Most Indian IT firms work as system integrators for Huawei, which has a dominant market share in emerging economies, including Latin America, Africa and India.
Though the exposure is very less
as of now, the potential is more due to 5G roll out. For this, every IT firm is preparing themselves big
Huawei also has its second largest research and development (R&D) centre in India, employing around 6,000 people. It may come under scrutiny if India-China relations worsen
BharatForge skids on weaksales, lowcrude prices
The Bharat Forge stock slipped over 10 per cent on weak March quarter (Q4) results and a muted outlook for its key business segments
revenues fall by 47 per cent, while operating profit fell by nearly 70 per cent year-onyear (YoY) in Q4.
The company indicated a 200-crore impact on the top line and 90 crore on profitability in the quarter because of the pandemic.
The company, which reported a profit before tax in the year-ago quarter of 300
crore and 128 crore in the December quarter, could generate a pre-tax profit of just 21 crore in Q4 this year.
-
After recording a 47 per cent decline in FY20 sales in India, the first two months of the financial year saw vehicle sales decline by over 90 per cent over the year-ago period.
Despite the sharply lower base, analysts expect the M&HCV segment to fall by
another 13-15 per cent in FY21 before recovering next year.