Passenger vehicle sales in India up 11% in January: SIAM
Passenger vehicle sales in January 2020 stood at 2,48,840 units
Passenger vehicle wholesales in India increased by 11.14% to 2,76,554 units last month, auto industry body SIAM said on Thursday.
Passenger vehicle sales in January 2020 stood at 2,48,840 units.
As per the latest data by Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also rose 6.63% to 14,29,928 units, compared to 13,41,005 units in January 2020.
Motorcycle sales increased 5.1% to 9,16,365 units as against 8,71,886 in January 2020.
Scooter sales were also up 9.06% at 4,54,315 units from 4,16,567 units a year ago.
Three-wheeler sales, however, declined by 56.76% to 26,335 units as compared with ₹60,903 units in January last year.
Vehicle sales across categories rose by 4.97% to 17,32,817 units last month as against 16,50,812 units in the year ago period.
Zurich Insurance FY20 Net Profit, BOP Down; P&C Premiums Up; Proposes Stable Dividend
Zurich Insurance Group AG (ZURVY) on Thursday reported weak profit in fiscal 2020, with the first half impacted by COVID-19 and a return to growth in the second half.
For the year, net income attributable to shareholders declined 8 percent to $3.83 billion from $4.15 billion last year.
Earnings per share were 23.98 Swiss francs, down 13 percent from 27.51 francs a year ago.
Business operating profit or BOP was $4.24 billion, down 20 percent from prior year’s $5.30 billion driven by COVID-19-related impact and higher catastrophe losses.
The COVID-19-related impact was $852 million, including $450 million in the property and casualty business as previously reported. In addition, catastrophe losses were$588 million higher than in 2019.
Business operating profit return on common shareholders’ equity or BOPAT ROE was 11 percent, down from 14.2 percent last year.
Property & Casualty or P&C gross written premiums and policy fees increased 4 percent to $35.52 billion. Life gross written premiums, policy fees and insurance deposits declined 18 percent to $27.62 billion.
Further, the company proposed stable dividend of 20 francs per share.
UniCredit Slips To Loss In FY20, Revenue Down 9% – Quick Facts
Italian lender UniCredit SpA (UCG,UNCFF.PK) reported Thursday that its fiscal 2020 net loss was 2.79 billion euros, compared to net profit of 3.37 billion euros in the prior year.
Underlying net profit for the year was 1.26 billion euros, compared to 4.68 billion euros in the prior year. However, the company noted that underlying net profit was ahead of guidance thanks to lower annual costs while booking 5 billion euros of loan loss provisions to properly reflect the current and future economic impact of Covid-19.
Net interest income declined 6.3 percent from last year to 9.4 billion euros, while net fees and commissions decreased 5.2 percent to 5.98 billion euros.
Total revenues for the year declined 9.0 percent to 17.14 billion euros from 18.84 billion euros a year ago, with a decrease in all revenue line items including lower NII, fees and trading.
Looking ahead, UniCredit said it expects fiscal 2021 underlying net profit of more than 3 billion euros and revenues as well as costs for the year in-line with previous guidance, subject to the potential impact of the Covid-19 pandemic evolution on client activity and market rates stabilising.
The company has proposed capital distribution to shareholders of 1.1 billion euros in ordinary and extraordinary distribution in 2021.
AstraZeneca Q4 Profit Surges, Declares Dividend; Sees Growth In FY21
AstraZeneca Plc (AZN.L,AZN)reported Thursday that its fourth-quarter profit before tax was $1.17 billion, significantly higher than last year’s $240 million.
Earnings per share were $0.78, up from $0.24 last year. Core earnings per share were $1.07, up 19 percent.
Total revenue increased 11 percent to $7.41 billion from last year’s $6.66 billion. Revenues increased 10 percent at constant exchange rates. Product sales improved 12 percent to $7.01 billion.
Further, the company has declared a stable second interim dividend of $1.90 per share or 137.4 pence, meaning a stable full-year dividend per share of $2.80 or 207.0 pence.
Looking ahead for fiscal 2021, the company projects total revenue to increase by a low-teens percentage at constant exchange rates, accompanied by faster growth in Core earnings per share to $4.75 to $5.00.
In fiscal 2020, core earnings per share were $4.02.
The company said the guidance does not incorporate any revenue or profit impact from sales of COVID-19 Vaccine AstraZeneca (C19VAZ).
Aegon H2 Underlying Profit Before Tax Up 7% – Quick Facts
Dutch life insurer Aegon NV (AGN.L,AEG) said Thursday that its net loss attributable to owners of the company for the second half of fiscal 2020 was 157 million euros, compared to net income of 908 million euros in the same period last year.
The net loss was mainly as a result of an increase of the value of liabilities in the Netherlands due to tightening credit spreads, reversing the movement seen in the first half of the year.
However, underlying earnings before tax for the period rose 7 percent to 1.03 billion euros from 961 million euros last year, driven by the benefit from higher equity markets in the U.S. and Asset Management, as well as expense savings.
Gross deposits for the second half increased by 19 percent to 94.76 billion euros, largely attributed to Asset Management. New life sales declined 23 percent from the year-ago period to 352 million euros.
Aegon has proposed a final dividend for 2020 of 0.06 euros per share, bringing the full-year dividend to 0.12 euros per common share, or 247million euros.