Santander profit hit by integration costs, forex

collected by :John Locas

His winning bet during the financial crisis garnered him fame—now, he's betting against Elon Musk's TeslaSantander profit hit by integration costs, forexAdds detail, information on delistingsBanco Santander SA SAN+1% said Wednesday that its geographical diversity helped deliver a strong underlying profit rise in the second quarter, although it was hit by integration costs and currency headwinds. The Spanish bank, one of Europe's largest lenders, said its second-quarter net profit was 1.70 billion euros ($1.99 billion), down 3% from the year-earlier quarter. Santander said the fall was due to EUR300 million in planned costs related to the integration of Banco Popular, which it acquired in 2017. However, on an underlying basis profit rose 14% to EUR2.00 billion, Santander said. Excluding foreign-exchange effects, underlying profit rose 28%.

Siemens Healthineers profit falls on forex hit

Net income at the medical-equipment manufacturer was 285 million euros ($332.2 million) compared with EUR320 million a year earlier. Siemens Healthineers, which raised EUR4.2 billion from its initial public offering in March, said foreign-exchange headwinds reduced revenue growth by five percentage points across all segments. The company said its adjusted profit margin for the quarter was 16% compared with 17.1% a year earlier. Profitability was held back by a large low-margin contract booked in the diagnostics division and a EUR25 million severance charge, Siemens Healthineers said. The company confirmed its 2018 target of 3% to 4% comparable revenue growth and an adjusted margin of 17% to 18%.

IndiGo operator InterGlobe posts 97% fall in Q1 profit on higher fuel prices, forex impact

as mentioned in IndiGo operator InterGlobe posts 97% fall in Q1 profit on higher fuel prices, forex impactMoneycontrol NewsInterGlobe Aviation, the operator of low cost carrier IndiGo, has reported a massive 96.6 percent fall in first quarter net profit, dented by higher fuel prices and adverse impact of forex. Profit for the quarter declined to Rs 27.8 crore from Rs 811.1 crore in June quarter 2017. Related News"Profitability was majorly impacted by the adverse impact of foreign exchange, high fuel prices and the competitive fare environment," the airline operator said in its filing. Foreign exchange gain for the quarter stood at Rs 246 crore against forex loss of Rs 6.6 crore in year-ago. The company had a total cash balance of Rs 13,205.6 crore comprising of Rs 6,104.9 crore of free cash and Rs 7,100.7 crore of restricted cash.