Study: IPOs decline 8 percent year-over-year in second quarter

October 8th, 2009 BANGALORE - Infosys Technologies Ltd has projected revenue of Rs.54.76 billion (Rs.5,476 crore) for the third quarter (October-December) of this fiscal (2009-10), indicating a decline of 5.4 percent year-on-year (YoY) as per the Indian accounting standard. In a regulatory filing Friday, the IT bellwether said its consolidated income for this fiscal (FY 2010) was expected to be about Rs.220.55 billion (Rs.22,055 crore), which would be a marginal growth of 1.2-1.7 percent YoY as per the Indian accounting standard.

August 27th, 2009 Newspaper slump deepens as 2Q ad sales fall 29 pctWASHINGTON — Newspaper advertising sales shrank by another $2.8 billion in the second quarter, a 29 percent decline from the same time last year. The numbers released Thursday by the Newspaper Association of America show the industry's financial woes deepened in the April-June period.

July 30th, 2009 NEW DELHI - Buoyed by the recent surge in capital markets, India Inc is planning to raise Rs.16,000 crore ($3.3 billion) through initial public offerings (IPOs) this fiscal, an industry lobby report said Thursday. "The companies are weighing higher expectations from renewed investor's sentiments to raise funds from the primary market," Assocham president Sajjan Jindal said.

July 27th, 2009 Shanghai's first IPO in 11 months soars on debutBEIJING — The first company to list on China's main stock exchange in 11 months soared more than 300 percent in its trading debut Monday, reflecting renewed market activity following a sharp decline last year. Sichuan Expressway Co.

July 24th, 2009 UK Q2 GDP down 0.8 percentLONDON — Official data shows Britain's economy shrank by 0.8 percent in the second quarter, the fifth straight quarterly decline and worse than analyst forecasts of a drop of 0.3 percent. The figure released Friday is a marked improvement over the 2.4 percent decline in the first quarter but confirms that the economy is still in recession.

July 23rd, 2009 New York Times Co. reports surprising 2Q profitNEW YORK — The New York Times Co.

July 22nd, 2009 BANGALORE - India's third largest IT bellwether, Wipro, remained profitable in the first quarter this fiscal despite marginal revenue decline in its global IT services business sequentially and annually. Even for the second quarter, revenue from its flagship IT services business is expected to remain flat in the $1.03-$1.05 billion range, as against the $1.03 billion garnered in the first quarter this fiscal, but still less than the $.1.11 billion earned in the corresponding quarter last fiscal.

July 22nd, 2009 BANGALORE - India's third largest IT bellwether, Wipro, remained profitable in the first quarter this fiscal despite marginal revenue decline in its global IT services business sequentially and annually. Even for the second quarter, revenue from its flagship IT services business is expected to remain flat in the $1.03-$1.05 billion range, as against the $1.03 billion garnered in the first quarter this fiscal, but still less than the $.1.11 billion earned in the corresponding quarter last fiscal.

July 21st, 2009 VC investments plunge 51 pct to $3.7 billion in 2QSAN FRANCISCO — Venture capitalists cut their U.S. investments in half during the spring, the second-consecutive quarter to mark a more than 50 percent decline, leaving the money flowing to startups at the slowest trickle in 12 years.

July 10th, 2009 BANGALORE - Technology meltdown and currency volatility have forced Infosys Technologies Ltd to lower its guidance for the second quarter (July-September) and the entire fiscal (2009-10), projecting a marginal decline in revenues. In its regulatory filing Friday, the IT bellwether said consolidated income in the second quarter (Q2) is expected to be Rs.53.18-54.13 billion (Rs.5,318-5,413 crore), which is a decline of 1.9-0.1 percent year-on-year (YoY), as per the Indian accounting standard.

June 5th, 2009 Internet ad revenue falls 5 pct in first quarterPHILADELPHIA — Internet advertising revenue is down 5 percent. The decline in the first quarter of 2009 represents the first year-over-year decline in seven years as the recession takes its toll even on the hardiest of ad sectors.

June 4th, 2009 NEW DELHI - India's hospitality sector has witnessed a fall of 64 percent in profit in the January-March quarter this year, thanks to the economic slowdown, an industry lobby report said here Thursday. "While on the one hand the inflow of foreign tourists came down sharply and the room rates contracted, on the other hand there was a rise in expenses," the report by the Associated Chamber of Commerce and Industry (Assocham) said.

May 12th, 2009 IDC: Microprocessor shipments down in 1QSAN MATEO, Calif. — Worldwide PC microprocessor shipments fell "significantly" in the first quarter from the fourth quarter, research firm IDC said on Tuesday.

March 16th, 2009 NEW DELHI - Personal computer (PC) sales, including desktops and laptops, declined 19 percent in the October-December quarter as against the year-ago period, an industry lobby said Monday. 'The total PC sales between October and December 2008 were 1.4 million units, a decline of 19 percent over the corresponding period last fiscal,' the Manufacturer's Association for Information Technology (MAIT) said.

January 27th, 2009 NEW DELHI - State-run upstream major Oil and Natural Gas Corp Wednesday reported 43.3 percent dip in its net profit for the quarter ended Dec 31, owing to low crude prices. The company's net profit for the third quarter fell to Rs.24.75 billion (Rs.2,475 crore/$506 million) from Rs.43.7 billion a year ago.