Latest news with #profitdecline
Reuters
4 hours ago
- Business
- Reuters
Coal India's quarterly profit falls on weak power demand
July 31 (Reuters) - Coal India ( opens new tab, which produces about 80% of the country's coal, reported a quarterly profit decline on Thursday as shipment volumes and prices fell amid weak power demand. The state-run company, which mainly produces non-coking thermal coal for power generation and industrial use, said its consolidated net profit declined 20% year-on-year to 87.43 billion rupees ($998 million) in the quarter ended June 30. Revenue from operations dropped 4.4% to 358.42 billion rupees. Coal-fired power generation, which remains the dominant source of electricity in India, declined by nearly 3% in the first half of 2025. Meanwhile, overall power output growth declined by 1.5% as a milder summer — driven by earlier-than-expected monsoon showers — reduced demand for coal. Coal India's average realisation from so-called e-auction sales stood at 2,331.51 rupees per ton in June-quarter, lower than the 2,410.94 rupees per ton in the year-ago period, while overall average price realisation of coal supplied rose by two rupees from a year ago. The company gets 10% of its sales through e-auctions at near-spot rates, and sells the rest of its output to domestic customers through long-term contracts. ($1 = 87.6040 Indian rupees)
South China Morning Post
14 hours ago
- Business
- South China Morning Post
Samsung chip arm logs big profit miss in sign of widening crisis
Samsung Electronics' semiconductor division reported profit that fell far short of expectations, reflecting a deepening crisis at the world's largest memory chipmaker. The pivotal unit reported operating profit of 400 billion won (US$288 million) for the June quarter versus analysts' average projection for 2.73 trillion won, hurt by US export controls on high-bandwidth memory chips and losses at its foundry arm. South Korea's largest company, which gave grim preliminary operating profit and revenue numbers earlier in July, said on Thursday net income came to 4.93 trillion won, missing the analysts' estimate of 6.37 trillion won. Profit fell after Samsung's foundry arm, which relies in part on Chinese demand, booked a one-time inventory cost as export controls led to unsold AI chips. Usage rates also fell. The profit decline was despite solid demand for high-end memory products for servers, it said. Operating losses at its foundry unit are expected to narrow in the second half of the year on a gradual recovery in demand, the company said. A man walks past an ad for the Samsung Galaxy S25 series smartphones at a Samsung store in Seoul on July 8, 2025. Photo: AFP Samsung's underwhelming quarterly report comes after the company won a US$16.5 billion contract from Tesla to produce AI chips at an upcoming plant in Taylor, Texas. Its stock is up 10 per cent since news about the agreement broke on Monday, bringing Samsung's gains in July to over 20 per cent and putting the stock on track for its best month in more than four years.
Reuters
2 days ago
- Business
- Reuters
UPS quarterly revenue and profit drop on China tariffs; shares fall
July 29 (Reuters) - United Parcel Service (UPS.N), opens new tab reported a decline in second-quarter profit and revenue on Tuesday, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies. Shares of the delivery giant dropped nearly 3% before the bell. The company did not update its full-year revenue or operating profit outlook for a second straight quarter, citing ongoing macroeconomic uncertainty. In its last forecast, issued in January, UPS projected 2025 revenue of $89 billion. The White House in May began collecting tariffs on shipments under $800 from China that were previously duty-free. While those levies were reduced to 54% from 120% as part of a trade truce, consumer demand is still expected to take a hit. Experts say the removal of the exemption likely creates a greater-than-expected volume headwind for the company, as customers may cut back on discretionary online purchases, reducing shipments from bargain e-commerce sellers such as Temu (PDD.O), opens new tab and Shein on UPS's most profitable China-U.S. trade lines. UPS and rival FedEx (FDX.N), opens new tab are seen as bellwethers for the health of the global economy as they serve clients across industries and geographies. Atlanta-based UPS reported consolidated revenues of $21.2 billion, compared with $21.8 billion last year. Revenue in its U.S. domestic segment declined to $14.08 billion from $14.20 billion, pressured by a sluggish recovery in retail sales and industrial activity. The company reported adjusted net income of $1.55 per share for the quarter ended June 30, from $1.79 per share a year earlier. UPS has been shuttering hundreds of facilities and slashing thousands of jobs as part of a sweeping overhaul, its largest ever, aimed at generating $3.5 billion in cost savings in 2025. In April, the company announced plans to cut 20,000 jobs due to shedding half of its shipping volume from (AMZN.O), opens new tab, its largest customer. UPS in July said it was offering voluntary buyouts to its unionized full-time drivers for the first time.
Yahoo
2 days ago
- Business
- Yahoo
UPS posts fall in second-quarter profit and revenue
(Reuters) -United Parcel Service reported a decline in second-quarter profit and revenue on Tuesday, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies. The company reported adjusted net income of $1.55 per share for the quarter ended June 30, from $1.79 per share a year earlier. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
JK Paper to acquire Borkar Packaging amid profit decline
Indian paper and packaging board manufacturer JK Paper has reported a continuous decline in profit for the eighth consecutive quarter. The company's consolidated net profit for the quarter ending 30 June saw a nearly 42% year-on-year drop to Rs812.3m ($9.3m). It reported gross revenues from operations of Rs14.71bn. The company also disclosed its strategic move to acquire a 72% stake in Borkar Packaging for Rs2.35bn. This acquisition comes at a time when domestic paper manufacturers, including JK Paper, are grappling with the dual challenge of escalating wood costs and competition from lower-priced imports. JK Paper said: 'Lower volume and sales realisation due to cheap imports with continued high wood cost have adversely impacted performance. Sirpur Paper Mills also had annual planned shut during the quarter.' The company's net revenue from operations also witnessed a slight decline of 2.3% to Rs16.74bn while raw material costs surged by 9.2%, reported Reuters. In response to the country's industry's concerns, India has initiated antidumping investigations into imports of paperboard from countries such as Indonesia, Chile, and China. These imports have reportedly been affecting the local market, where paperboard is a crucial material for packaging consumer goods, pharmaceuticals, and electronics. JK Paper's acquisition of Borkar Packaging is a strategic move to strengthen its position in the packaging sector. Borkar, which counts major consumer conglomerates such as Unilever and Nestlé among its clients, operates factories in eight locations across India. With this acquisition, JK Paper aims to become one of the top three players in the folding cartons segment of the packaging industry. "JK Paper to acquire Borkar Packaging amid profit decline" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
