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Infosys Q3 results: 5 things to watch for tomorrow

Bengaluru: Another quarter and another downward revision in growth. Infosys Ltd is expected by at least three brokerages to scale down its full-year dollar revenue growth for the third time this year when India’s second-largest software firm declares its third quarter results on Friday. This is not surprising, considering the negative cross currency impact and also partially, on account of management’s inability to give a firm guidance. Still, 2015-16 is turning out to be roller-coaster ride for Infosys chief executive officer (CEO) Vishal Sikka. Till a year ago, Sikka seemed to have settled well and appeared to be enjoying his job (from playing cricket with employees in Mysuru to the after-results parties with senior management ranks). By December, Sikka came across as a different boss, unhappy with the progress made by the company, and heard telling his colleagues how he has been unable to implement things he had planned when he took over the current job in August 2014. I...
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DCB Bank Q3 net up 25% to Rs 51 crore

Small-time private sector lender DCB Bank on Friday reported a 25 per cent surge in December quarter net at Rs 51 crore, driven primarily by a surge in the core interest income. The city-based lender had reported a post tax profit of Rs 41 crore in the year-ago period. Its net interest income rose 31 per cent to Rs 209 crore, while the non-interest income was up 36 crore to Rs 64 crore during the reporting quarter. The share of low-cost current and savings account balances increased to 25.85 per cent as on December 31, from the 21.91 per cent three months ago, on the back of a surge in deposits following the move to scrap Rs 500 and Rs 1,000 notes by the Central government. The surge in deposits, coupled with a massive slowdown in advances (which grew only two per cent sequentially) led to a drop in the credit-deposit ratio to 77.41 per cent from 83.33 per cent in the year-ago period. The bank's net interest margin was down 3.95 per cent as against 3.96 per cent in the year-ago per...
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Sony Entertainment CEO exiting for a top role at Snap

Los Angeles: Sony Entertainment chief executive Michael Lynton will step down to become chairman of the board of messaging app owner Snap Inc, a move that puts an experienced Hollywood executive in a prominent role as the technology company prepares for an initial public offering. Lynton will give up his current position at Sony’s movie and television unit on 2 February but remain as co-CEO for six months to help find a successor, Japanese conglomerate Sony Corp said in a statement on Friday. Snap, the owner of the popular Snapchat app, is expected to go public early this year, vying for a $25 billion valuation. Lynton was an early investor in the company co-founded by 26-year-old CEO Evan Spiegel, and has served on its board for nearly four years. The Venice, California-based company has made a push into news and entertainment content, a strategy that heightened competition with social networks such as Facebook Inc and Twitter Inc. In 2015, it began sharing video and articles fr...
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