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Indigo Profits Crash, India’s Fiscal Deficit Reaches 68.7% Of FY19 Target et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 31, 2018 12:12 PM 2 min read
Editorial

End of Day Wrap-up (Monday / July 30, 2018) #Reliance #HDFC #Apple #India #Post #payments #AmericanExpress #Transfin

Editor's Comment: India reports fiscal deficit of INR4,29,000cr for Q1. Reaches 68.7% of the budgeted target for FY19 vs. 80.8% in the previous fiscal. Net tax receipts at the end of Q1 was INR2,37,000cr as per Government data.

 

IndiGo profits drop 97% YoY to INR27.8cr. However income rises 14.5% YoY to INR6,818.3cr. The plunge was in account of higher fuel prices and foreign exchange losses. As per Bloomberg, IndiGo’s profitability will remain under pressure for this fiscal year if high fuel prices remain elevated. 

 

HDFC Bank launches share sale of INR15,500cr through Qualified Institutional Placements and American Depository Receipts. They look to raise capital to facilitate their expansion and growth for the next couple of years in India.

 

Competition Commission of India orders probe against Star India and Sony Pictures Network regarding pricing of television channels. A complaint was filed by Noida Software Technology Park Ltd against Star India and Sony Pictures Network for price discrimination.

 

Nokia gets $3.5bn contract from T-Mobile US for deployment of 5G across US. Nokia will help build T-Mobile ‘s 5G network by providing technology, software and services as a part of the deal.

 

BP Plc Q2 underlying Replacement Cost (RC) profit rises to $2.8bn from $684mn in the same quarter last year. RC is analogous to net income used by US oil companies during reporting. Higher oil prices helped drive the profitability for this quarter to accelerate BP’s growth plans in the near future.