TATA group owned TATA Steel reported 14 per cent decline in sales in the third quarter of current financial year as compared to sales during same period last year. It indicates the impact of global slowdown on the steel sector. Almost all economic segments are facing the heat of global financial crisis and gearing up for strict measures to deal with the situation.
Prism Cement, a leading cement manufacturer, has announced that its second quarter net profit has plummeted by 52 percent ato Rs 31.03 crore from the same quarter last fiscal.
In a filing to the Bombay Stock Exchange, the company said that it had registered a net profit of Rs 64.45 crore in the same quarter Financial Year 2008.
Net sales of the company slumps declined to Rs 214.79 crore in the quarter under review, versus Rs 228.11 crore in the same period a year ago.
Various cost cutting measures taken by TATA Steel has improved its margin in the July-September period. The company witnessed 213% increase in the net profit for the second quarter of current financial year despite slow demand and tough financial conditions. It has been working on various cost cutting measure, including improvement in efficiency, production control and salary cut, that ultimately yielded good Q2 results.
Its consolidated net profit increased to Rs. 4,703.60 crore, from Rs. 1,489.50 crore in the same period last year. The operating profit stands at Rs. 7,187 crore, from Rs.
Munich - Siemens posted a 2.4-billion-euro (3 billion dollars) final quarter loss, mainly as a result of restructuring costs and efforts to root out corruption, the German engineering giant said Thursday.
In the corresponding quarter of the previous business year, the company reported a loss of 74 million euros.
Turnover in the three months up to the end of September in the 2007-2008 business year increased 7 per cent to 21.7 billion euros, while orders were up 4 per cent at 22.2 billion euros, Siemens said.
The reported third quarter operating losses – nearly $7.2 billion combined - for General Motors Corp and Ford Motor Co are worse than what were being feared. This, according to an events expert, raises the possibility that one or both will run out of cash within the next year, thereby giving the shuddering economy yet another blow.
While GM posted a $4.2-billion operating loss, Ford reported loss of $2.98 billion. The two companies said their rate of cash burn had accelerated, as an extended slump in car sales raised questions about the future of the US auto industry.
Contrary to Wall Street's expectations, the global economic downtown has impacted Disney Co.'s quarterly results, harder and faster than expected. Experiencing a sharp decline in hotel bookings and low revenue returns from network advertising, Disney's shares slid 9%, recovering a little after executives stimulated bookings by announcing hotel discounts, during the first half of 2009.
TATA group owned TATA Steel reported 14 per cent decline in sales in the third quarter of current financial year as compared to sales during same period last year. It indicates the impact of global slowdown on the steel sector. Almost all economic segments are facing the heat of global financial crisis and gearing up for strict measures to deal with the situation.
Prism Cement, a leading cement manufacturer, has announced that its second quarter net profit has plummeted by 52 percent ato Rs 31.03 crore from the same quarter last fiscal.
Various cost cutting measures taken by TATA Steel has improved its margin in the July-September period. The company witnessed 213% increase in the net profit for the second quarter of current financial year despite slow demand and tough financial conditions. It has been working on various cost cutting measure, including improvement in efficiency, production control and salary cut, that ultimately yielded good Q2 results. 
Munich - Siemens posted a 2.4-billion-euro (3 billion dollars) final quarter loss, mainly as a result of restructuring costs and efforts to root out corruption, the German engineering giant said Thursday.
The reported third quarter operating losses – nearly $7.2 billion combined - for General Motors Corp and Ford Motor Co are worse than what were being feared. This, according to an events expert, raises the possibility that one or both will run out of cash within the next year, thereby giving the shuddering economy yet another blow.
Contrary to Wall Street's expectations, the global economic downtown has impacted Disney Co.'s quarterly results, harder and faster than expected. Experiencing a sharp decline in hotel bookings and low revenue returns from network advertising, Disney's shares slid 9%, recovering a little after executives stimulated bookings by announcing hotel discounts, during the first half of 2009. 
