Maruti Q1 profit up 4.4% at Rs 1,556 cr; net sales jumps 16.7% NEW DELHI, JULY 27 (PTI): Maruti Suzuki India, the country’s largest car manufacturer, has posted a 4.4 per cent increase in its net profit at Rs 1,556.4 crore for the first quarter to June on the back of robust sales and cost reduction efforts. The company had reported a net profit of Rs 1,490.9 crore in the same period of the previous fiscal. Net sales rose 16.7 per cent to Rs 17,132.4 crore for the quarter under review against Rs 14,654.5 crore a year earlier. “Growth in volumes, favourable product mix, higher non-operating income and cost reduction efforts contributed to increase in profits,” MSI said in a statement. However, costs were impacted by higher commodity prices, sales promotion and marketing expenses, it added. Additionally, during the quarter, there was a one-off impact of compensation for dealers due to the tax loss incurred on vehicle stock at the time of switchover to GST.During April-June, the company sold 3,94,571 vehicles, including 26,140 in overseas markets, a growth of 13.2 per cent, over the same period previous year. Indian banks most at risk among South, S-E Asian peers: Poll New Delhi, July 27 (PTI): Indian banks are most at risk in South and South-East (S-E) Asia, and being under-capitalised, they lack sufficient loan provisioning, says a Moody’s poll. It said the government has appeared reluctant to increase capital injection into PSU banks despite the limited ability of these lenders to access equity markets for the much-needed capital. Earlier this month, Moody’s polled 210 market participants on some of the industry’s most pressing credit issues. “Indian banks are most at risk in South and South-East Asia. We agree that many banks in India remain undercapitalised and continue to lack sufficient loan-loss provisions. Moreover, the government has appeared reluctant to increase capital injections into the PSU banks, despite the limited ability of these to access equity markets for the much-needed capital,” the Moody’s poll said. Earlier this week, Moody’s had revised the outlook on several Indian banks to stable or negative from positive, signaling a lowering in potential government support, and/or weaknesses in solvency metrics. Microsoft to reward up to $250,000 bounty to bug finders San Francisco, July 27 (IANS): To ensure Windows 10 is secure and bug-free, Microsoft has announced a fresh round of Windows Bounty Programme that will reward the bug finders up to $250,000 if they are able to discover exploits in Microsoft’s virtualisation software. Bounty payouts will range from $500 to $250,000. Microsoft has been running the bounty programme since 2012 but the company is expanding it to cover more ground in Windows 10. According to a blog post on the company’s website late on Wednesday, any critical or important class remote code execution, elevation of privilege or design flaws that compromises a customer’s privacy and security will receive a bounty. “Security is always changing and we prioritise different types of vulnerabilities at different points in time. Microsoft strongly believes in the value of the bug bounties, and we trust that it serves to enhance our security capabilities,” the blog post read. The other focus areas include ‘Mitigation Bypass’ (things that break Microsoft’s security sandboxing), ‘Windows Defender Application Guard’, ‘Microsoft Edge’ and ‘Windows Insider Preview’. Other tech giants like Google, Facebook and Apple have also employed the same tactics to detect bugs and exploits.
