Chennai-based Raj Television Network has declared the results for the three-month period ended March 31, 2009.

For the period under review, the company said that it has posted a net loss of Rs 30.76 million, as compared to the net loss of Rs 3.42 million during the corresponding period of the last year.

The company’s revenue saw a growth of 84.45% during the quarter to Rs 204.05 million, while the income from operations and net sales was Rs 194.94 million from Rs 86.44 million in the prior year.    

Areva T&D India, the subsidiary of the France-based Areva Group, has received a prestigious order for two 500 MVA Power Transformers from Power Grid Corporation of India Limited.

The latest orders are considered as the highest in ratio 400 KV 3 phase class transformers in the country, which will PowerGrid in augmenting capacities of their 400 KV Substations at Malerkotla and Patiala in Punjab.

Both transformer orders are scheduled to be delivered by Q3 2010.

BASF India Ltd, the Indian subsidiary of the German group BASF, has finally announced its financial results for the quarter ended on 31-Mar-2009.

The company has witnessed 3.25% surge in its net sales at Rs 20218 lacs for quarter ended on 31-Mar-2009, against Rs 19553 lacs for the quarter ended on 31-Mar-2008.

While on yearly basis, the company’s net sales grew to Rs.111560 lacs for the year ended on 31-Mar-2009, against Rs.91267 lacs for the year ended on 31-Mar-2008.

Galileo, the leading Global Distribution System in India, had signed a preferred GDS agreement with Akbar Travel of India Pvt. Ltd., the firm which offers all travel related services under one umbrella, to distribute, manage and book travel management services for its customers in India.

This tie-up will enable Akbar travels to use Galileo as its preferred technology partner for booking and servicing all its customers.

As per the latest air travel-related data, coming from the Directorate General of Civil Aviation (DGCA), there has been a 15 percent fall in the year-on-year figures concerning total number of passengers carried by the nine Indian airlines in March - the number coming down from the previous year's 37.11 lakh to the recent 31.60 lakh.

The government data shows that the plunge in the number of passengers taking the air route has been continuing over the past nearly 11 months; and the key reasons for the decline is the decreased number of foreign tourist arrivals.

Citing the rather poor performance of the Indian heavy truck segment, the Hero Group has decided to pull out of its joint venture with Daimler! With the Hero Group quitting the collaboration for making commercial vehicles in India, Daimler will buy back Hero's 40 percent stake - worth 16 million euros - in Daimler Hero Motor Corporation (DHMC).

While Daimler says the Hero Group back-out was due to financial constraints, the Chairman of Hero Corporate Services, Sunil Kant Munjal, cited plunging commercial vehicle sales in India - which dropped 22 percent in FY 2009 - as the reason.