-- China United Network Communications' (SHA:600050) net profit attributable to shareholders in the first quarter fell 18% year on year to 2.14 billion yuan, or 0.068 yuan per share, according to a Wednesday filing on the Shanghai bourse.
The attributable profit a year earlier was 2.61 billion yuan, or 0.083 yuan per share.
Operating revenue slipped 1% to 102.8 billion yuan from 103.4 billion yuan in the previous year.
The telecom company's shares dropped 2% during the morning trade.
Smel Steel Structural, a step-down subsidiary of Shyam Metalics and Energy (NSE:SHYAMMETL, BOM:543299) is poised to begin commercial production at its aluminium manufacturing project in Sambalpur, Odisha in India, according to a Thursday filing to the Indian bourses.The facility will produce aluminium flat rolled products with an installed capacity of 60,000 tons per annum (TPA), in the thickness range of 0.3 - 4.0 mm, and aluminium foils with a capacity of 18,000 TPA, in the thickness range of 6 - 40microns.Sambalpur unit, when commissioned, is expected to significantly enhance the company's financial and operational performance. The company estimated a 40-50% improvement in operating margins driven by better product mix and enhanced efficiencies.Its revenue is also expeected to increase by 2x to 2.5x over the medium term, supported by expanded market reach and higher realization products.The company's shares were up 3% in recent trade.
Oracle Financial Services Software (NSE:OFSS, BOM:532466) recorded a gain in its consolidated attributable net profit to 8.42 billion Indian rupees in the fiscal fourth quarter from 6.44 billion rupees a year ago.Shares of the company jumped over 8% in Thursday's trade.Earnings per share for the quarter ended March 31 climbed to 96.36 rupees from 73.76 rupees a year earlier, according to a Wednesday filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 also rose year on year to 20.7 billion rupees from 17.2 billion rupees a year earlier.Additionally, the company declared second interim dividend of 270 rupees per share for the financial year ended March 31. The dividend will be paid by May 21 to shareholders of record on May 7.
Crude futures climbed back above $100 per barrel on Thursday, marking a two-week high, as diplomatic efforts between the US and Iran collapsed.The Brent futures contract gained 1.3% to $103.25 per barrel. Murban closed at $103.12 on April 22 and was not trading as of the time of publishing this oil price update."Brent crude futures settled above $101 a barrel [on Wednesday], gaining 3.5% to $101.91, the highest in two weeks, amid conflicting reports about plans to reschedule peace talks between the US and Iran which have ultimately failed to materialize," Saxo Bank analysts said.Experts say that the market is now aggressively repricing for a prolonged supply crisis following the seizure of two tankers in the Strait of Hormuz by Iran and a Pentagon estimate suggesting it could take six months to clear mines from the waterway.The situation escalated further after US forces intercepted at least three Iranian-flagged vessels in Asian waters, before redirecting them from their respective positions, according to a Reuters report on Wednesday.Iranian Parliament Speaker Mohammad Bagher Ghalibaf reinforced the sense of deadlock, stating on X that reopening the Strait is "impossible" while the US maintains its naval blockade, which he labeled a "hostage-taking of the world's economy."As Brent convincingly breaks back above the $100 threshold, analysts from ING and Saxo Bank warn that the market is becoming "numb" to diplomatic noise and is instead bracing for long-term physical disruptions.However, this price spike is triggering demand destruction particularly in Europe.Rystad analysts report that European refiners are currently battling collapsing margins and a tightening crude supply, a combination that likely forces a reduction in fuel production as the Persian Gulf remains effectively throttled.With no resolution in sight, the industry expects further upside for prices even as high costs begin to erode global consumption.