US economic growth slowed less than previously reported in the fourth quarter as robust consumer spending spurred the largest increase in imports in two years.
The economy grew an annualised 1.2 percent in October-December, less than the median estimate for 1.6 percent annualised growth but more than the preliminary reading of a 1.0 percent annualised expansion.
Ambuja Cement today reported a 85.24 percent increase in its consolidated net profit of Rs 205.70 crore for the fourth quarter ended December 30, 2016.
Indians continue to be most confident globally when it came to job prospects, personal finances and immediate spending intentions in the fourth quarter of 2016, according to Nielsen.
FMCG major Nestle India today reported a decline of 8.66 percent in its standalone net profit to Rs 167.31 crore for the fourth quarter ended December 31, 2016.
"Apple had a record quarter shipping 78.3 million iPhones in all important holiday season, surpassing Samsung (78 million) in overall smartphone market share," it said.
Whirlpool's overall net sales rose 1.7 percent to USD5.66 billion in the quarter ended December 31, but sales in Europe, the Middle East and Africa tumbled 6.7 percent USD1.4 billion.
While advertising still accounts for the lion's share of Google's revenue, rising 17.4 percent to USD 22.4 billion in the quarter, Alphabet Chief Financial Officer Ruth Porat underscored that the company is broadening its business - pointing to growth in hardware, app sales and the cloud business.
The world's biggest liquid crystal display (LDC) maker said the profit was caused by the upward trend of panel prices and a favourable foreign exchange rate.
The South Korean electronics manufacturer is counting on the booming chip market to continue driving growth as it works to recover from its biggest product recall crisis involving fire-prone Note 7 smartphones.
Finance Ministry has asked government departments to refrain from excessive expenditure in the fourth quarter and remain within the budget allocation made for the fiscal, though it made an exception in case of MGNREGA spending.
The world's second-largest economy had been forecast to grow 6.7 percent in the quarter, according to a Reuters poll of 42 economists. That was in line with estimates from the head of China's state planning agency, who said on January 10 that the economy likely grew around 6.7 percent last year, Reuters reported.
Gross domestic product (GDP) expanded 9.1 percent in the October-December period from the previous three months on an annualised and seasonally adjusted basis, the Ministry of Trade and Industry said on Tuesday.
In spite of the upside risk to 5 per cent inflation target by next March that the Reserve Bank sees, there is space for rate cuts with another 25 basis points cut likely this fiscal, says a report.
The company's fiscal fourth quarter results Tuesday still beat Wall Street expectations, as FedEx and other delivery companies continue to benefit as consumers do more shopping online.
Speaking to CNBC-TV18, Sandeep Reddy, MD of Gayatri said that the company‘s current orderbook stands at Rs 10,000 crore. It has Rs 6000 crore worth of road projects and Rs 3000 crore of irrigation projects in hand.
Its total income from operations during January-March quarter stood at Rs 483.55 crore, much lower than Rs 813.23 crore in the year-ago period, the company had said in a BSE filing yesterday.
Speaking to CNBC-TV18, Satnam Arora, MD of Kohinoor said that the company has large orders in hand currently and it plans to spend on promotions and advertisements world over.
The company sold sugar at an average price of Rs 29 ex-mill in the fourth quarter of FY16, and the current ex-mill price has risen to Rs Rs 32.5, says Narendra Murkumbi, the co-founder of Shree Renuka Sugars.
The company posted its gross margin at 46.8 percent and Abhijit Roy, MD & CEO of Berger Paints, expects the expansion to continue in the first quarter of FY17.
Sintex's Group Chief Executive Samir Joshipura told CNBC-TV18 that he expects the company's margins to expand at 25-30 basis points in FY17.
Speaking to CNBC-TV18, Ajith Rai, CMD of Suprajit said that the company will outperform the industry by 5-10 percent in fiscal year 2017.
Speaking to CNBC-TV18, Manish Mohnot, MD of Kalpataru said that gross margins will stay at around 10.5 percent levels and revenue is expected to grow by 25 percent in FY17.
There has been an earnings de-growth in rupee terms in FY16 but quantitatively Bodal Chemicals has done much better than in the past, says Mayur Padhya, Chief Financial Officer of the textile dyestuff company.
The company had posted net loss of Rs 76.9 crore in the corresponding quarter of the previous fiscal.