Newsmakers: Vedanta Q3 profit falls 98.9%, ICICI Bank Q3 net profit rises 4.5% and more

Key business news events for the day

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Bharti Airtel's net profit falls 22.21% in Q3Bharti Airtel's net profit in the December quarter fell 22.21 per cent as compared to the corresponding period a year ago, missing analyst expectations. Bharti Airtel's net profit in Q3 fell 22.21 per cent to Rs 1,117 crore from Rs 1,436 crore in year-ago period. Total revenue of the company Airtel rose 3.7 per cent to Rs 24,066 crore for December quarter as against Rs 23,217 crore in year-ago period.

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First 20 smart cities announced; Pune, Jaipur, Chennai top the listThe government named 20 cities which it says will be provided with uninterrupted power and water supplies, proper sanitation and public transport in a $7.5 billion makeover to turn them into smart cities with living standards comparable to Europe. Pune, Surat, Kochi, Ahmedabad, Jabalpur, Visakhapatnam, Solapur, Bhuvanagiri, Indore, Coimbatore, Kakinada, Belgaum, Guwahati, Chennai, Ludhiana and Bhopal as well as NDMC will be developed as smart cities, the minister said at a press conference.

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First 20 smart cities announced; Pune, Jaipur, Chennai top the listThe government named 20 cities on Thursday which it says will be provided with uninterrupted power and water supplies, proper sanitation and public transport in a $7.5 billion makeover to turn them into smart cities with living standards comparable to Europe. Pune, Surat, Kochi, Ahmedabad, Jabalpur, Visakhapatnam, Solapur, Bhuvanagiri, Indore, Coimbatore, Kakinada, Belgaum, Guwahati, Chennai, Ludhiana and Bhopal as well as NDMC will be developed as smart cities, the minister said at a press conference.

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Maruti's Q3 net profit rises 27% on robust sales Maruti Suzuki India posted a 27 per cent rise in its third-quarter profit, the country's top-selling carmaker said in a statement, but missed bullish analyst estimates. The company reported a 27.1 per cent jump in net profit at Rs 1,019.3 crore for the third quarter ended December 2015. It posted a net profit of Rs 802.2 crore during the same period last fiscal.

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Vedanta Q3 net profit falls 98.9% on commodity price crashVedanta posted a steep 98.9 per cent fall in its consolidated net profit at Rs 17.91 crore for the December quarter as the metals firm battled a subdued commodities market, which saw prices hit over 10-year lows. The firm led by NRI billionaire Anil Agarwal had reported a net profit of Rs 1,587.50 crore in the year-ago period.