Idea Cellular Q3 profit dips to Rs 764.2 cr
Mumbai: Telecom major Idea Cellular on Thursday announced a marginal decline in consolidated net profit at Rs 764.2 crore for the quarter ended December 2015 due to decline in voice and mobile data rates. The company had posted a net profit of Rs 767.06 crore for the same period a year ago. “Despite the healthy subscriber growth, we have witnessed intense rate pressure. Our voice rate declined by 10.6 per cent and mobile data rates by 17.2 per cent during the Q3 FY 16,” Idea Managing Director Himanshu Kapania told reporters here.
Max life Insurance introduces a refreshed corporate logo
New Delhi: Max life Insurance, the leading non-bank promoted private life insurer, a joint venture between Max Financial Services ltd and Mitsui Sumitomo Insurance Co ltd, has introduced its new logo in line with the recent demerger of Max India ltd. Max Financial Services limited (MFS), a part of the US$ 2 billion Max Group, is the holding company for Max life, India’s largest non-bank, private life insurance company.
Tara Singh Vachani appointed as director on Max India board
New Delhi: Tara Singh Vachani, the daughter of Max India group founder Analjit Singh, has been appointed as director on the board of Max India. “Tara Singh Vachani, the CEO of Antara Senior living has been elevated as the Managing Director of Antara Senior living and also inducted as a Director on the Board of Max India limited”, Max India said in a statement.
IndiGo Q3 profit jumps 24% to Rs 657 crore
New Delhi: No-frills airline IndiGo’s parent Interglobe Aviation on Thursday reported nearly 24 per cent rise in net profit at Rs 657.28 crore in the three months ended December 2015, boosted by low fuel prices and high passenger revenues. The carrier, which got listed in November 2015, had a net profit of Rs 531.57 crore in the year-ago period. IndiGo’s revenues climbed to Rs 4,407.49 crore in the third quarter of this fiscal, an increase of nearly 12 per cent compared to Rs 3,938.79 crore in the same period a year ago,