America Movil's second-quarter net profit plummets on currency losses

according to MEXICO CITY (Reuters) - Mexico's America Movil, the largest telecommunications firm in Latin America by number of subscribers, saw its net profit slide 94 percent in the second quarter, hammered by currency-related swings. The company, which is controlled by the family of Mexican billionaire Carlos Slim, posted a net profit of 818 million Mexican pesos ($41.2 million), down sharply from 14.3 billion pesos during the same quarter a year ago. Yet the company's revenue rose to 257 billion pesos in the quarter from 249.4 billion pesos last year. Last August, the Mexican Supreme Court sided with America Movil that it should not be barred from charging competitors for use of its network, weakening a key plank of the reform. There was good news for America Movil north of the border as well, as TracFone, its U.S. subsidiary, reported its service revenues returned to growth after recent declines.

WNS posts 34% profit growth in Q1; Organic growth, currency drive numbers

Mumbai-based business process management (BPM) company WNS on Thursday posted 34.1 per cent growth in profit from $16.7 million last year to $22.4 million for the quarter ended June 30 (in GAAP numbers). "Excluding exchange rate impacts, constant currency revenue less repair payments* (non GAAP) in the fiscal Q1 grew 10.3 per cent versus Q1 of last year and 0.6 per cent sequentially. Year-over-year, fiscal Q1 revenue improvement was driven by healthy organic growth across key verticals, services, and geographies, and favorability from currency net of hedging." said the NASDAQ listed company in a statement. Sequentially, organic revenue growth was offset by contractual productivity commitments for clients and currency movements net of hedging. In the Q1, the company generated $14.7 million in cash from operations and had $9.2 million in capital expenditures, said management.

Givaudan profit falls as currency losses in Argentina bite

referring to ZURICH, July 19 (Reuters) - Swiss flavours and fragrances maker Givaudan saw its first-half profit slip 3.4 percent as foreign currency losses in countries including Argentina dented its results. First half net profit slipped to 371 million million Swiss francs ($371.48 million), just below the Reuters poll average of 381 million francs. First half sales were 2.674 billion francs, compared to 2.650 billion francs expected in the poll. ($1 = 0.9987 Swiss francs) (Reporting by John Miller, editing by John Revill)

collected by :Mathio Rix