Airtel’s revenues and net profit drop for 6th straight quarterThe long shadow of Reliance Jio continued to linger on the Indian telecom sector. On Thursday, Bharti Airtel, India’s biggest telecom service provider, reported a decline in revenues and net profit for the sixth straight quarter. IDFC Bank, Capital First to mergeThree months after an aborted attempt to acquire financial services companies of the Shriram Group, IDFC Bank announced it was merging with Capital First, a non-banking finance company (NBFC) in an all-stock deal. Shareholders of Capital First will receive 139 shares of IDFC Bank for every 10 shares held by them. Hindustan Unilever net profit up 28%FMCG major Hindustan Unilever posted a net profit of Rs1,326 crore in the quarter to December 2017, a year-on-year increase of 28%.

Source: Mint January 20, 2018 18:00 UTC