-- HFCL (NSE:HFCL, BOM:500183) and subsidiary HTL secured purchase orders worth 842.3 million Indian rupees from an unnamed private telco, according to a Monday filing to the Indian stock exchanges.
The contract is for the supply of optical fiber cables by August.
Shares of the telecom equipment manufacturer were up nearly 8% in recent trade.
National Australia Bank's (ASX:NAB) cash earnings in the half-year through March missed estimates on a one-off charge related to its software capitalization.Australia's largest business lender logged cash earnings of AU$2.64 billion during the six months through March, down 26% from AU$3.58 billion in the year-ago period, according to a Monday press release.Earnings per share shrank to AU$0.861 from AU$1.145 a year earlier.Analysts polled by FactSet forecast earnings of AU$0.97.The bank incurred AU$1.35 billion in technology expenses related to the amortization of software. Cash earnings fell due to changes with the bank's software capitalization policy. NAB recorded a post-tax charge of AU$949 million.NAB's software write-offs are "right in the middle of peers, but admitted they are "far from ideal," Group CEO Andrew Irvine said in an earnings call when an analyst pointed out that the bank had three software write-offs in the past seven years.Sans the charges, cash earnings would have increased 2.3% to AU$3.59 billion from AU$3.58 billion a year earlier.Attributable net profit declined 20% to AU$2.76 billion from AU$3.43 billion a year earlier.Net interest income jumped 2.3% year over year to AU$9.16 billion from AU$8.45 billion.Net interest margin grew 3 basis points to 1.81%, reflective of higher earnings from the deposit-replicating portfolio, combined with lower deposit expenses and deposit mix benefits.Net operating income for the six months ended March 31 edged up 3.1% to AU$10.9 billion from AU$10.3 billion a year earlier.Analysts surveyed by FactSet expected AU$10.96 billion in net operating income.The board declared an interim dividend of AU$0.85 per share, unchanged from the prior corresponding period, payable July 2 to shareholders on record as of May 8.
The Indonesian government is planning to increase the revenue share of driver partners at ride-hailing companies to at least 92% from 80%, Reuters reported May 1, citing President Prabowo Subianto.The move will reportedly materialize by cutting companies' commission per ride obtained from drivers to 8% from 20%.Prabowo signed a presidential regulation for the new commission cap but did not specify when it would become effective, according to the report.The ride-hailing firms will also be mandated to provide accident and health insurance to their drivers, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Godrej Properties' (NSE:GODREJPROP, BOM:533150) consolidated attributable profit jumped to 6.50 billion Indian rupees in the fiscal fourth quarter ended March 31, from 3.82 billion rupees a year ago.Earnings per share climbed to 21.57 rupees from 12.68 rupees, the real estate developer said in a filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 also increased to 34.6 billion rupees from 21.2 billion rupees a year ago.The company's board recommended a dividend of 10 rupees per share for the financial year ended March 31.The company's shares were up over 2% in recent trade.