Vodafone Q1 net profit dips 3.4%

Mumbai, July 22

Vodafone India today reported a 3.4 per cent dip in revenue to 1.57 billion pounds (around Rs 13,900 crore) for the three months to June — despite an over 22 per cent rise in data income — bogged down by a fall in the rupee and income due to regulations.

However, service revenue growth improved to 6.4 per cent as against 5.3 per cent in the previous quarter as voice revenue returned to growth and regulatory impacts came down, the London-based company said.

Raymond Q1 loss widens 

Shares of diversified group Raymond today tanked nearly 7 per cent after the company reported widening of consolidated net loss to Rs 16.61 crore for the quarter ended June 30, 2016.

The scrip lost 6.60 per cent to settle at Rs 457.65 on the Bombay Stock Exchange. Intra-day, it tanked 7.43 per cent to Rs 453.55. At the National Stock Exchange, shares of the company went down by 6.27 per cent to close at Rs 458.45.

Axis Bank Q1 net down 

Axis Bank today reported a steep 21 per cent decline in net profit at Rs 1,555.5 crore for the three months to June, roiled by a more than doubling of its bad loan provisions, higher operating expenses (opex) towards branch expansion and the resultant salary outgo. —  Agencies