Birla Corporation has recorded an increase of 26.40 per cent in net profits to Rs. 72.63 crore during the fourth quarter of the financial year 2012-2013.
The company had recorded a net profit of Rs. 57.46 crore during the fourth quarter of the financial year 2011-2012. The company said that its sales rose 2.42 per cent to Rs. 665.75 crore during the quarter from January to March, 2013 compared to Rs. 650.02 crore during the fourth quarter of the previous financial year 2011-2012.
Chennai-based, India Cements has said that its net profit has fallen by a disappointing 60 per cent during the fourth quarter of the financial year 2012-2013 mainly due to rising input costs.
Apollo Hospitals Enterprise has said that its net profit has risen 27.30 per cent to Rs. 75.52 crore during the fourth quarter of the financial year till March, 2013.
The company recorded the impressive growth due to strong performance for in the healthcare services and pharmacy segments of the company. The company had recorded a net profit of Rs. 59.32 crore for during the same quarter of the previous financial year, the company said in a statement.
India's Essar Oil Ltd is on the verge of signing a $1 billion financing co-operation deal with China Development Bank Corp (CDBC) and PetroChina International, people with direct knowledge of the matter said.
Sources said that the $1 billion financing agreement could be signed between the two sides on Tuesday during China's Prime Minister Li Keqiang's first official visit to Mumbai.
Coal India Ltd (CIL) on Monday reported an impressive increase of nearly 90 per cent in standalone net profit for the three months ended March 31.
CIL, the world's largest coal producer, announced that its standalone net profit jumped to Rs 2,320.61 crore in the January-March quarter of 2012-13, from Rs 1,223.52 crore in the corresponding quarter of the previous fiscal.
In a bid to revive Karnataka's manufacturing sector, the Bangalore Chamber of Industry & Commerce (BCIC) has submitted a twelve-point action plan to Chief Minister Siddaramaiah.
On Monday, the BCIC released its document titled `Driving Economic Prosperity & Inclusive Growth - Economic Agenda for the government of Karnataka, 2013-18'. It wants the government to implement the 12-point strategy in the state to boost manufacturing.
Some telecom service providers are not using the spectrum allocated to them efficiently, a fresh audit by the Department of Telecommunications (DoT) has found.
Yahoo Inc announced on Monday that it would acquire online blogging service Tumblr for $1.1 billion in cash.
So far, this acquisition is the company's largest since Marissa Mayer became the chief executive of the Inter firm in July last year. This deal also marks Yahoo Inc's most expensive acquisition after the company's $1.3 billion acquisition of online search engine Overture nearly a decade ago.
Traders from various districts of the state of Maharashtra on Monday agreed to call off their strike against the Local Body Tax (LBT) following a meeting with Chief Minister Prithviraj Chavan.
Traders had been agitating against the implementation of LBT for more than three weeks, causing panic buying of essential items by consumers.
The government used measures like the Essential Services Maintenance Act (ESMA) and the APMC Act to ensure the supply of essential items like sugar, but traders agreed to call off the strike only after a meeting with the CM on Monday.
Police in Mumbai has registered a case of theft after diamonds worth Rs. 4.5 crore were stolen from Chhatrapati Shivaji International Airport in the India's financial capital.
An employee of the employee of a diamond trading firm, which was reportedly exporting the diamonds to Belgium, filed the complaint with the Sahar Police. The company had sent a consignment with 24 packets of diamonds to Belgium by air cargo on May 16 and the representatives of the company in Belgium were to confirm the delivery.
A leading lawyer has advised GSM mobile operators that they can take legal action against Tata Teleservices in the country.
GSM mobile operators are planning to disconnect the Tata Teleservices as its license stands cancelled. The Cellular Operators Association of India, which is the representative body of the operators, had sought legal opinion from top lawyer Rohinton F Nariman on this issue and he has recommended that the group has grounds to take legal action against the company.
India's biggest cigarette maker, ITC has said that its net profit has risen 19.5 per cent to Rs. 1,928 crore during the fourth quarter of the financial year 2012-2013.
The company, which has a strong presence in the FMCG market and hostel industry in India, had recorded a net profit of Rs. 1,614 crore during the fourth quarter of the financial year 2011-2012. The company's cigarettes business has been growing strong over the years and some analysts believe that the company will be able to maintain 16-18 per cent operating growth in business.
Private sector firms are increasing moving forward to provide support financial support to the only lesbian, gay, bisexual & transgender (LGBT) film festival in India, Kashish Mumbai International Queer Film Festival.
Marissa Mayer, the Chief Executive Officer of Yahoo! is moving ahead with her plans to acquire blogging site Tumblr in a deal valued at $1.1 billion.
Staffing services major TeamLease has said that the salaries are expected to increase 12 per cent across industries and functions this year.
The company also said that there will be an increase in the hiring activity in the coming few months. The TeamLease' Salary Primer for 2013, showed that the hiring activity and the salaries across sectors are expected to rise in the coming months.
Hector Beverages Pvt. Ltd, the maker of the popular Tzinga Energy Drink, has been able to raise about $8 million from Sequoia Capital and others existing investors including Catamaran Ventures and Footprint Ventures.
The company has said that it will use the raised funds mainly for marketing and expansion of production capacity, it said in a statement. Tzinga Energy Drink has emerged as leading energy drink in several markets in the country and the additional funds will allow the company to consolidate its position and penetrate deeper into the Indian market to boost its presence across markets.
A former employee of global internet search giant, Google has accused the company of adopting measures that cheated the taxpayers for hundreds of millions of pounds.
Barney Jones said that Google has been using a tax avoidance scheme for the previous decade, which he described as immoral. Jones, who worked with the company between 2002 and 2006, accused the company through a media outlet.
In a move which marks the re-entry of Panasonic into the mobile handset market, the Japanese handset maker announced the launch of its first smartphone - the P51 – on Thursday.
Powered by a 1.2 GHz quad-core processor, the Panasonic P51 handset features a 5-inch screen; 1 GB RAM; and 8-megapixel back-side camera; a 1.3-megapixel front-facing camera; the Android 4.2 ‘Jelly Bean’ operating system; and 4 GB of onboard storage capacity, which can be expanded via the microSD card slot.
The Reserve Bank of India (RBI) should become the regulator for all loans, including home loans, State Bank of India (SBI) Chairman Pratip Chaudhuri said.
Speaking at the fifth ICC Banking Summit, Mr. Chaudhuri said that there was no justification for having different regulators for different verticals like industrial loans, vehicle loans and home loans.
Speaking on the topic, he added, “Perhaps, the objective of the regulations is better served with RBI itself becoming the sole regulator for all loans, including home loans.”
With the arrival of the mango season, the health inspectors are increasingly seizing artificially ripened mangoes that are harmful to the health of the customers.