Bangalore, June 2 : Global supplier of technology and services Bosch group Thursday announced a planned investment of Rs. 2,500 crore over the next two years to augment its production capacity, business portfolio diversification and research and development.
Bangalore, May 5 : Leading state-run Canara Bank posted net profit of Rs. 899 crore for the fourth quarter (January-March) of fiscal 2010-11, registering a whopping 79 percent year-on-year (YoY) growth.
For fiscal 2011, however, net profit increased 33 percent (YoY) to Rs. 4,026 crore from Rs. 3,021 crore a year ago.
"Record cash recovery (Rs. 2,032 crore), lower provisioning (Rs. 181 crore) and higher income from core banking business have shot up net profit to 79 percent YoY in the fourth quarter," Canara Bank chairman and managing director S. Raman told reporters here.
Bangalore, April 28 : Indian biopharma major Biocon Ltd posted consolidated net profit of Rs. 101 crore for fourth quarter (January-March) of fiscal 2010-11, registering 25 percent year-on-year (YoY) growth.
In a regulatory filing Thursday, the country's leading biotech firm said consolidated revenue for the quarter (Q4) under review, however, grew by eight percent YoY to Rs. 717 crore from Rs. 666 crore same quarter year ago.
Bangalore, April 27 : Indian IT bellwether Wipro Ltd is investing heavily in emerging verticals such as analytics, mobility and cloud computing for the next wave of customers' spend, company chairman Azim Premji said here Wednesday.
"To prepare for the next wave of customers' spend, we are investing heavily in three key areas of analytics, mobility and cloud computing. We have created dedicated lines for the first two and a software layer for the third, with a focus on business process outsourcing (BPO) platform," Premji told reporters here.
Bangalore, April 27 : Wipro has declared final dividend of Rs. 4 for each share of Rs. 2 par value, amounting to 200 percent for fiscal 2010-11.
"With an interim dividend of Rs. 2 per share or 100 percent, the total dividend for fiscal under review (FY 2011) is Rs. 6 per share or 300 percent," the company said in a statement here Wednesday.
Accounting for 32 percent of the company's net profit of Rs. 5,298 crore (Rs. 53 billion), the total dividend payout will be Rs. 1,696 crore.
Bangalore, April 27 - Wipro posted net profit of Rs. 5,298 crore (Rs. 5.3 billion) for fiscal 2010-11, registering a growth of 15 percent year-on-year (YoY).
In a regulatory filing Wednesday, the IT bellwether said total revenue for the fiscal under review (FY 2011) was Rs. 31,099 crore (Rs. 311 billion), an increase of 15 percent YoY.
Under the International Financial Reporting Standards (IFRS), net income for FY 2011 was $1.2 billion and total revenue was $6.98 billion.
Bangalore, April 27 - Wipro Wednesday reported net profit of Rs. 1,375 crore (Rs. 13.8 billion) for the fourth quarter (January-March) of fiscal 2010-11, registering 14 percent year-on-year (YoY) growth.
In a regulatory filing Wednesday, the IT bellwether said total revenue for the quarter under review (Q4) was Rs. 8,302 crore (Rs. 83 billion), an increase of 18 percent YoY.
Under the International Financial Reporting Standards (IFRS), net income is $309 million and total revenue $1.86 billion.
Bangalore, April 15 - Infosys Technologies Ltd posted a net profit of Rs. 6,823 crore (Rs. 68.23 billion) for fiscal 2010-11, registering an increase of 9.7 percent year-on-year (YoY), as per the Indian accounting standard.
In a regulatory filing, the IT bellwether Friday said consolidated income during the fiscal under review (FY 2011) was Rs. 27,501 crore (Rs. 275 billion), an increase of 21 percent YoY.
Under the International Regulatory System (IFRS), net income rose to $1.5 billion, up 14 percent YoY and gross income to $6 billion, an increase of 26 percent. (IANS)
Pharmaceutical company Strides Arcolab announced that it has bagged US health regulator's nod to sell the first liquid injection sterile product from its novel sterile injectable complex in the state of Karnataka.
But, Strides Arcolab stated that it was not in a position to reveal the name of the product because of privacy.
On the eve of the International Women's Day, Massachusetts Institute of Technology MIT's Technology Review India version announced that two female research workers including Aishwarya Lakshmi Ratan and Alefia Merchant have become part of esteemed 'India Technology Review 35' list for 2011.
As per reports, Aishwarya and Alefia got this appreciation for their innovational work done in Bangalore.
Bangalore, Jan 26 - India's largest mobile service operator Bharti Airtel is betting on the upcoming World Cup and Indian Premier League (IPL) to hook customers on to its 3G (third generation) service to view cricket matches live on their mobile phones.
"We will pitch for more subscribers during the World Cup and IPL matches to flag our 3G service being rolled out, as they will be able to capture the exciting matches live from anywhere and when on the move," Airtel chief executive V. Venkatesh told IANS.
Metro rail has entered Bangalore. On Sunday, Metro began its trails from Byappanahalli Station at 4.03 pm towards Mahatma Gandhi Station, MG Road, shoppers. Everybody was excited to watch this trial.
Commuters including children were popping their head out of their balconies, buses to view the site. Near Cauvery Emporium Junction, crowd cheered as the train approached.
The trial runs of metro will began from January 24 suggested by the Bangalore Metro Rail Corporation (BMRCL).
Bangalore, Nov 13 - Leading Kolkata-based non-banking finance company Magma Fincorp Limited Saturday said it will disburse Rs. 246 crore in retail loans across Karnataka this fiscal.
"Our focus is on penetrating into rural and semi-urban markets for providing asset finance to the economically disenfranchised across the state," Magma vice-president Dhrubashish Bhattacharya said in a statement here.
Bangalore, Oct 22 - Wipro Limited Friday projected marginally higher revenue of $1.33 billion from its global IT services business for the third quarter (Oct-Dec) of this fiscal (2010-11) on 4.5 percent sequential growth expectation.
"We expect revenue from our IT services business to be $1.33 billion in third quarter as against $1.27 billion in second quarter (July-Sept) of this fiscal (FY 2011)," Wipro chairman Azmi Premji said in a statement.
IT revenue of $1.27 billion for the quarter under review (Q2) is in line with the company's guidance of $1.25-1.27 billion given in July.
Bangalore, Oct 22 - Wipro Ltd Friday projected $1.33 billion from its global IT services business in the third quarter (October-December) of fiscal 2010-11.
In a regulatory filing, the IT bellwether said Q3 guidance would be in the range of $1.32-1.34 billion, which is $65 million higher than its projection of $1.25-1.28 billion for the second quarter.
Revenue from IT services in second quarter was $1.27 billion in line with the guidance given in the beginning of the quarter (July).
Bangalore, Oct 22 - Wipro Ltd Friday posted a net profit of Rs. 1,285 crore (Rs. 12.85 billion) for second quarter (July-Sep) of this fiscal 2010-11, registering an increase of 10 percent year-on-year (YoY).
In a regulatory filing, the IT bellwether said its total revenue for the quarter under review was Rs. 7,731 crore (Rs. 77.31 billion), an increase of 12 percent YoY.
As per the International Financial Regulatory System (IFRS), net income is $288 million and total revenue $1.73 billion.
Bangalore, Oct 15 - Infosys Technologies Ltd posted a net profit of Rs. 17.37 billion (Rs. 1,737 crore) for the second quarter (July-Sept) of the fiscal 2010-11, registering year-on-year (YoY) growth of 13.2 percent and 16.7 percent sequentially as per the Indian accounting standard.
In a regulatory notification Friday, the IT bellwether said its consolidated revenue for the quarter (Q2) under review was Rs. 69.47 billion (Rs. 6,947 crore), a YoY growth of 24.4 percent and 12 percent quarter-on-quarter (QoQ).
Worldwide philanthropic investment firm Omidyar Network shall offer a multi-year funding of $3 million to Bangalore-based non-profit organization as financial support for proposal that make government clear.
This is the major funding through the firm for assignment of this nature beyond the US and is division of a worldwide promise to make available $30 million to organizations that use expertise to run this program.
Technology giant Wipro Ltd has registered net profit worth Rs 13.19 billion for the three month period ended June 30, 2010.
This showed an increase of 31% year-on-year (YoY) in the company's net profit.
In a declaration, the IT bellwether stated that its total revenue during the quarter first quarter (Q1) increased by 16.6% YoY to Rs 72.36 billion.
Under the International Financial Reporting Standards (IFRS), Wipro's net income for the first quarter stood at $284 million and total revenue $1.56 billion.
A CII National Council meet has started. It will be attended by seventy CEOs from various leading firms, in order to talk about matters relating to FDI and infrastructure and the role of the private sector in helping in the progress of the Naxal-affected areas.
In the meet, the CEOs of the various industries will discuss issues regarding economic growth and methods how to raise it to over 10 per cent in a short duration of time.
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