Hyundai Motors: record exports in 2019
The Korean auto giant, Hyundai Motors, has developed its Indian plant as the second hub for exports after South Korea’s. During 2019, the company exported a record 181,200 units that formed 26 per cent of the 706,000 total passenger vehicles exported. The company is working on mass production of electric utility vehicles for India with high local content for domestic sales and exports.
Maruti excels in the qTr. but sees dip in for 9 months
Despite the tough market conditions, auto leader Maruti sold 11,78,272 units during April-December 2019, with domestic sales accounting for 11,00,698 units.
Revenue through Q3 at Rs 20,722 crore, a five per cent increase and of profit of Rs 1587 crore was four per cent higher than the figures for the corresponding quarter of the previous year. For the nine months, April-December 2019, there was an 11 per cent dip in revenues – from Rs 64,594 crore to Rs 57,452 crore for the comparable 9 months of 2018. The dip in profit was around 25 per cent from Rs 5820 crore to Rs 4355 crore.
Bajaj Auto: booming exports
Two-wheeler giant Bajaj Auto had a record export of 562,772 units for Q3. This formed 46.8 per cent of 1,202,486 units sold during the quarter. With the focus on cost control, the company recorded a higher net profit of Rs 1262 crore (Rs 1102 crore) out of the revenue from operations of Rs 7640 crore for the quarter. The company is well set to sell electric two-wheelers designed locally with high indigenous content.
Reliance: revenue declines but net stocks up in Q3
Reliance Industries reported impressive operating performance across its prized consumer businesses of oil, retail and telecom. Consolidated revenue declined from Rs 171,300 crore in Q3 FY19 to Rs 168,858 crore in Q3 FY20. However, PBDIT increased from Rs 23,801 crore to Rs 26,088 crore and net profit from Rs 10,251 crore to Rs 11,640 crore.
Reliance Jio is attracting wide notice for the dominant position it occupies. With the other two major telecom operators – Airtel and Vodafone Idea -burdened with huge debt plus tax dues, Jio is well-poised to consolidate its position as a leader. During Q3 2019-20, Jio showed impressive growth in revenue from the value of services at Rs 16,466 crore (Rs 12,843 crore) for Q3; operating revenue, Rs 13,968 crore (Rs 10,884 crore) and net profit Rs 1350 crore (Rs 831 crore). The subscriber base as of 31 December 2019 at 370 million has shown a YoY growth of 32.1 per cent.
L&T: handsome growth in profits
Construction giant L&T earned revenues of Rs 36,717.6 crore (Rs 34,823.08 crore) for the Q3 2019-20, a 5.4 per cent increase over the previous year. Despite slow economic growth that impacted revenues from infrastructure and power projects, with higher efficiency, the company recorded a 15.4 per cent rise in net profit to Rs 2560 crore for the Q3 the previous year.
TCS: flat profits
IT giant Tata Consultancy Services’ [TCS] net profit remained almost flat at Rs 8118 crore (Rs 8105 crore) for Q3 2019-20. TCS revenue grew across all geographies. Operating margin stood at 25 per cent and Q3 revenue was at Rs 39,854 crore (Rs 37,338 crore), an increase of 6.7 per cent.
There was a net addition of 22,390 employees. The company announced a Rs 5 dividend per share.
More laurels for Dr K M Cherian
There is welcome relief over the settlement of the case under the Insolvency and Bankruptcy Code relating to Frontier Mediville. The lenders, SBI and BoB, agreed to settle the dispute with the new investors, UAE-based First Step Ventures, for Rs 75 crore.
The famous cardiothoracic surgeon, Dr K M Cherian, who set up the Mediville, pioneered heart surgery at the Railway Hospital, Perambur, took the lead in establishing the Madras Medical Mission and also the Pondicherry Institute of Medical Sciences with its college and hospital and later the Frontier Lifeline Hospital. He was the personal physician to then Chief Minister M G Ramachandran (he issued MGR’s death certificate) and received the admiration and support of Chief Minister Jayalalithaa, who helped in the setting up of the MMM Hospital.
Recently, the Frontier Lifeline Hospital was awarded the best cardiac specialty hospital at the TANCARE 2020, conducted by FICCI and the Government of Tamil Nadu. He was presented with the Lifetime Achievement Award at Times Healthcare Achievers Awards 2020.
A great beginning of 2020 for Dr Cherian after the harrowing months of 2019. Congrats KMC.