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Amazon Announces Hike in Price of Prime et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Apr 27, 2018 1:50 PM 1 min read
Editorial

End of Day Wrap-up (Friday / April 27, 2018) #GST #Maruti #Suzuki #Axis #Bandhan #Amazon #Baidu #Transfin

Editor's comment: Govt announces collection of INR7.41tr of GST for 8 months of FY17-18. Govt moving to cash basis of accounting for FY18-19 where revenues would be recognised as accrued. 

 

Maruti Suzuki posts annual profits amounting to INR7,721cr with 17% hike in revenues to INR78,100cr. Profits are 5% due to an increase in tax rates and lower operating income driven by mark to market movements. Q4 profits below analyst expectations.

 

Axis Bank posts annual losses of INR2,190cr, its first since 2006 on back of significant provisioning in Q4 against NPAs. Market reacts positively around attempts to clean balance sheet with share price up 9.37% end of day.  

 

Bandhan Bank posts annual profits of INR1,346cr, up 21% vs prior year. Interest income up 26% and non-interest income up 72%.

 

Amazon doubles its profit in Q1 (yoy) at $1.6bn, driven by its cloud services business AWS. Announces hike in price of Amazon Prime.  

 

Chinese search engine Baidu reports Q1 revenues of $3.3bn, up 31% yoy on back of strong advertising business.