"Notwithstanding the effect of the pandemic, we expect FY21 industry mobile service EBITDA to increase by about 15 percent YoY, which will outperform our Indian GDP growth forecast of 0.8 percent, as the industry will realise the full-year benefit of industry-wide tariff hikes of around 30 percent, effective from December 2019," the rating agency said in a note.
Tata Steel's profitability will improve after the sale of its South East Asian steel business, letting its management focus on the country that matters the most to its future—India.
"The ratings are likely to be downgraded within the next 6-12 months if heightened competition persists in its Indian wireless business, such that consolidated EBITDA or margins deteriorate further from current levels," Moody's said in a statement.
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 40.75 billion rupees ($622.26 million) in the half year ended Sept. 30, from 67.04 billion rupees a year earlier, Vodafone India, the country's No.2 telecom operator, said in a statement on Tuesday.
The company had clocked Rs 86 crore profit from renewable business in the same period last year.
Earnings before interest and tax (EBIT) at the German automotive group plunged 14 percent to 3.46 billion euros ($4.08 billion) in the July-to-September period, Daimler said on Friday, in line with the 3.43 billion-euro consensus forecast in a Reuters poll of banks and brokerages.
The company, which mines zinc in Rajasthan, said earnings before interest, tax, depreciation and amortization rose to $777.8 million in the first quarter ended June 30, from $527.1 million a year earlier.
Competitive intensity could drive down industry’s revenues to Rs 2.4 lakh crore in FY18 from Rs 2.56 lakh crore in FY17.
Some of the best-known companies that have lowered loan funds include Gail India (-48%), Piramal Enterprises (-37%), National Fertilizers (-37%), L&T (-24%) Hindalco (-20%) and Jet Airways (-22%).
"The final rating is in line with the expected rating assigned on March 28, 2017, and follows the receipt of final documents conforming to earlier information," Fitch Ratings said in a statement.
Expects a 10-15 percent growth in revenues and EBITDA growth of 25-30 percent for the fiscal year 2017-18, said Vikas Rathee, Group CFO, Prime Focus.
The agency has also affirmed the company's senior unsecured rating and the rating on its USD 500 million 4.75 percent senior unsecured notes due 2019 at 'BB', the rating agency said.
Dark clouds of job cuts loom over the telecom sector. The risk running with mergers is that as many as 10,000 employees may lose their jobs over the next year.
The stock had closed almost 10 percent closer on March 20 and fell over 7 percent intraday on Tuesday. CLSA has maintained its sell call on the stock, while Motilal Oswal has upgraded the stock to a buy call.
"India Ratings and Research (Ind-Ra) has maintained a stable outlook on the construction sector for FY18, driven by the expectation that the slow but steady increase in revenue and improvement in EBITDA margins seen during FY16 and 1HFY17 will continue in FY18," the rating agency said in a statement.
Fitch Ratings has affirmed state-run hydro power producer NHPC the Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with stable outlook -- reflecting its robust operating and financial profile.
The metal and mining conglomerate had clocked a revenue of USD 2.45 billion and had recorded an EBIDTA (earnings before interest, taxes, depreciation and amortisation) of USD 493.6 million in the third quarter of fiscal 2015-16.
Tata Power is keen to pare its debt and bring down the debt-equity ratio to 2 through sale of non-core assets, says CEO & MD Anil Sardana.
The Engineering Procurement Construction (EPC) contractor has bagged an order to build a 67-kilometer long road in the Tuljapur to Ausa section of the National Highway - 361.
Second largest low-cost carrier SpiceJet today reported its eighth successive profitable quarter with a profit of Rs 181.1 crore for the three months to December, down 24.5 percent from Rs 240 crore a year ago.
Adani Ports and Special Economic Zone Ltd (APSEZ) today reported a 25.82 percent jump in its consolidated net profit to Rs 849.75 core for the quarter ended December 2016, on the back of increased income.
However, the Luxembourg-based firm had posted net loss of USD 6,886 million in the year-ago period.
Total income from operations (net) came in at Rs 658.66 crore for the quarter, which is 11 percent lower than Rs 741.8 crore in the corresponding period of the previous year.
Thermax expects 3-4 segments to open up in Q4 and Q1 of FY18 supporting medium and large projects, which had gone dry in this financial year.
The Chennai-based suppliers of parts to the automotive and industrial segment had registered net profits at Rs 46.11 crore in the corresponding quarter of the previous year.