FY17 | Pixr8 News

9May By kriti singhNo Comments

BUSINESS

Jio Effect: Airtel Q4 Net Income Plunges 72%, From 1319 Crore to Rs 373.4 Crore

Bharti Airtel today registered a sharp 72 per cent decline in consolidated net income at Rs 373.4 crore for the fourth quarter ended March 2017, hit by "sustained predatory pricing" by newcomer Reliance Jio. Net income stood at Rs 1,319 crore in the same period a year ago. Total revenue fell 12 per cent to Rs 21,934.6 crore, from Rs 24,959.6 crore in the same period last fiscal. The earnings numbers came in after market hours. "The sustained predatory pricing by the new operator has led to a decline in revenue growth for the second quarter in a row. The telecom industry as a whole also witnessed a revenue decline for the first time ever on a full-year basis," Bharti Airtel MD and CEO (India and South Asia) Gopal Vittal said. Pointing towards the "tsunami" of incoming voice traffic...

Reliance Jio Net Loss Jumps to Rs 22.5 Crore in October-March

25Apr By Press Trust of IndiaNo Comments

BUSINESS

Reliance Jio Net Loss Jumps to Rs 22.5 Crore in October-March

Billionaire Mukesh Ambani-led Reliance Jio today reported widening of its net loss to Rs 22.50 crore in the six months to March, a period when the company virtually had no revenue and ran two back-to-back promotional offers. Net loss stood at Rs 7.46 crore in the same period a year ago, Reliance Jio Infocomm said in an exchange filing. Jio, which launched its services in September, had no revenue from operations during October 2016 to March 2017 while other income fell to Rs 0.54 crore from Rs 2.23 crore in the same six months of 2015-16. Jio is an unlisted arm of Reliance Industries and as per law is not required to put out quarterly numbers. Since its launch, it ran two back-to-back offerings of free data and voice and the only charge it took from the 120 million subscribers ...

Infosys CEO Vishal Sikka takes home Rs 43 cr in FY17

15Apr By AdityaNo Comments

BUSINESS

Infosys CEO Vishal Sikka takes home Rs 43 cr in FY17

Infosys CEO Vishal Sikka, whose pay package was one of the contentions raised by the founders, has drawn USD 6.68 million (about Rs 43 crore) or 61 per cent of the promised compensation for the 2016-17 fiscal. Sikka was eligible for a USD 11 million pay including basic salary, variable pay, restricted stock units (RSUs) and performance stock options for the year. Incidentally, this is also lower than what Sikka drew in the previous financial year when he took home Rs 48.73 crore. According to Infosys' financial statements that outline compensation to key executives, Sikka received only USD 3.68 million of the USD 8 million variable component that he was promised. One of the highest paid executives in the Indian IT industry, Sikka took home USD 0.82 million in variable pay, USD ...

Uber Posts $2.8 Billion Loss in 2016, Revenue at $6.5 Billion

15Apr By reutersNo Comments

News

Uber Posts $2.8 Billion Loss in 2016, Revenue at $6.5 Billion

Ride-hailing service Uber generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the company said on Friday. Its adjusted net loss was $2.8 billion, excluding the operation in China it sold last year, Uber said. As a private company, now worth $68 billion, Uber does not report its financial results publicly. It confirmed the figures in an emailed statement after Bloomberg reported the results. Uber did not provide first quarter figures, but a spokeswoman said they "seem to be in line with expectations." For the final quarter of 2016, gross bookings increased 28% from the previous quarter, to $6.9 billion. But Uber's losses grew to $991 million in the period, as revenues grew 74% to $2.9 billion from the third quarter. In a separate emailed...

HCL Infosystems Posts Revenue of Rs. 765 Crore in Q3 FY17

1Feb By NitishNo Comments

BUSINESS

HCL Infosystems Posts Revenue of Rs. 765 Crore in Q3 FY17

New Delhi, Delhi, India- Consumer Business readies for Multi-Brand Telecom Distribution Enterprise focus continues for growth and profitability with Services geared for robust traction Quarter Highlights Overall Revenue of Rs. 765 Crore in Q3 Enterprise Business continues to grow with revenue of Rs. 490 Crore in Q3 (+5% YoY) on the back of strong order book growth Progress made towards project completion and receivables in the System Integration (SI) business with a collection of Rs. 200 Crore from a major Defence Project Consolidated Profit / (Loss) before Tax at Rs. (65.8) Cr in Q3 HCL Infosystems, one of India’s premier IT Services, Distribution and Digital Solutions Company, today announced its financial results for the third quarter ended December 31, 2016....

Paytm’s Net Loss Rise To Four-Fold to Rs 1,549 for FY’16-17

13Dec By PriyankaNo Comments

BUSINESS

Paytm’s Net Loss Rise To Four-Fold to Rs 1,549 for FY’16-17

E-wallet service provider Paytm’s losses grew four-fold to Rs 1,549 crore in FY’16, the Times of India reported on Tuesday citing documents filed with the Registrar of Companies. It had reported a loss of Rs 372 a year ago compared to a profit of Rs 5 crore during FY’14. According to the report, Paytm’s founder Vijay Shekhar Sharma drew an annual salary of Rs 3.1 crore in FY’16. Last week, Sharma sold 1 percent stake in the company for Rs 325 crore to fund his payments bank. Paytm is said to be one of the biggest beneficiaries of PM Modi’s demonetisation drive. The company expects to hit 2 billion transactions by the end of this year. One97 Communications, the firm that owns Paytm will restructure its current business in preparation of its upcoming Payments Bank. As per the direct...

Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17

25Oct By AdityaNo Comments

BUSINESS

Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17

Times Internet, the digital products company owned by media conglomerate BCCL, is eyeing a net revenue of over Rs 1,000 crore during the current financial year. "Over the last four years, we've focused on changing from being a media company to a full stack product and technology company. At this time, both our net revenues and audience reach have grown 3-4 times, which makes us feel positive about the effect of our strategy," Times Internet CEO Gautam Sinha said in a statement. The company has crossed 175 million unique monthly visitors and "is on track to cross Rs 1000 crore in net revenue this fiscal year," it said. The firm owned by Bennett Coleman & Co Ltd (BCCL) runs over 35 digital properties including Timesofindia.com, Cricbuzz, Gaana.com, MagicBricks and MensXP, among...