New Delhi, Jan. 29: Thermal power major NTPC's third-quarter standalone net profit declined 18.90 per cent to Rs 2,492.87 crore from Rs 3,074 crore a year ago, because of a drop in revenue from the power generation segment.

Net profit in the April-December period of this fiscal rose to Rs 7,526.50 crore from Rs 7,346.83 crore a year ago.

Mumbai: Delna Avari, marketing head for passenger vehicles at Tata Motors Ltd has resigned from the company, according to two people familiar with the matter. Both of them declined to be identified.

A Tata Motors spokesperson confirmed she has resigned to start her own venture. “She will be serving her full notice period and be with the company till April.

Chennai: TVS Motor Co. Ltd on Friday reported a lower-than-expected 19.4% profit in the December quarter, crimped by expenses incurred on account of the November-December flooding in Chennai and a retrospective increase in employee bonuses.

The Chennai-based two-wheeler maker posted net profit of Rs.107.7 crore, compared with Rs.90.18 crore a year ago. The earnings fell below the estimate of Rs.124 crore in a Bloomberg survey.

In reporting better-than-expected fiscal second-quarter earnings on Thursday, Microsoft Corp. CEO Satya Nadella touted his company’s success in the cloud.

“Businesses everywhere are using the Microsoft Cloud as their digital platform to drive their ambitious transformation agendas,” he said.

With the sales of residential units having fallen in eight of the past nine quarters, DLF is looking to change the way it sells to customers. The company said it plans to complete the super-structure first before it puts any property on sale.

In the first half of FY16, DLF has been able to sell only 0.5 million sq ft of residential real estate, a 50% decline compared to sale of 1 million sq ft in the same period last year.

Despite crude oil price dipping to a 13-year low and explorers globally reducing investments, state-run ONGC has lined up a capital expenditure programme of Rs 29,507 crore for FY17, reports Siddhartha P Saikia in New Delhi.

Though this is sharply lower than its capex levels in recent years, the cut is milder than most analysts expected.

Amazon, which registered its biggest ever profits in the December quarter, has said sellers on its Indian marketplace sold more goods in the festive period stretching from October to December than the combined sales for all of 2014.

“We continue to like what we see happening in India. According to comScore data, Amazon India in Q4 was the top e-commerce site and it was a very busy Diwali shopping season in India,” CFO Brian Olsasvky said during the investors/analysts call Thursday following its financial results.

The Narendra Modi-led Centre is planning to make all government services available to the people on mobile phones. The move has been proposed to give a push to the Digital India initiative and ensure that people can avail nearly every service at the touch of a button. This will help eliminate the need to visit government offices, the government has said.

Private sector lender YES Bank reported a 25 per cent increase in net profit in the October-December 2015 quarter to Rs 675.7 crore from Rs 540 crore in the year-ago quarter, on the back of robust growth in net interest income (NII) and higher other income.

NII, difference between interest earned and interest expended, grew 27.3 per cent to Rs 1,157 crore. Other income - treasury gains, income from fees, commission etc — expanded 39 per cent to Rs 746 crore in the quarter under review. While there was slight pressure on asset quality, gross non-performing assets (NPA) at the end of the December 2015 quarter stood at 0.66 per cent, compared to 0.42 per cent in the year-ago period.

Engineering and infrastructure firm Larsen & Toubro's (L&T) third quarter consolidated net profit increased by 19 per cent to Rs 1,035 crore against Rs 866 crore in the corresponding quarter last year, aided by Other Income and lower finance cost. However, it was marginally short of Bloomberg consensus estimates of Rs 1,040 crore.

The major miss was at the operating level as Ebitda (earnings before interest, tax, depreciation, and amortisation) was down eight per cent to Rs 2,650 crore from Rs 2,890 crore and the margin contracted by 180 basis points to 10.3 per cent against 12.1 per cent. Margin was hit by employee and sales and distribution expenses.

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