Kolkata, May 20 : MP Birla group flagship Birla Corporation Monday reported a 26.40 percent rise in its net profit to Rs. 72.63 crore for the quarter ended March 31, 2013, from Rs. 57.46 crore during the same period a year ago.
During the fourth quarter last fiscal, the Kolkata-based company's net income stood at Rs. 678.03 crore against Rs. 659.84 crore same quarter previous fiscal.
Profit after tax for the financial year 2012-13 was higher at Rs. 270 crore against Rs. 239 crore for the financial year 2011-12, the company said in a release.
Kolkata, May 19 : The West Bengal government has unveiled its draft industrial policy after a long wait to woo entrepreneurs by showcasing the state as an attractive investment destination.
The state government uploaded the draft policy on its websites Saturday and invited suggestions from various industry bodies as well as business community.
It said that several incentive schemes for new investors have been incorporated in the draft industrial policy and that thrust has been on setting up industrial parks and hubs in the state largely through public private partnership (PPP) model.
Kolkata, May 18 : The country's largest lender, State Bank of India (SBI), Saturday the Reserve Bank of India (RBI) should become the sole regulator for all home loan institutions - banks as well as housing finance companies.
"Where is the justification for a separate home loan regulator? Why should not the RBI become the sole regulator," asked SBI chairman Pratip Chaudhuri while talking to reporters on the sidelines of an ICC Banking Summit here.
Kolkata, May 18 : Public sector lender State Bank of India (SBI) chairman Pratip Chaudhuri Saturday said the lender's margins in overseas business were under pressure.
However, non performing asset (NPA) levels of the country's largest lender in the fourth quarter last fiscal remained low compared to third quarter.
Kolkata, May 18 : Pratip Chaudhuri, chairman of the country's largest lender, State Bank of India (SBI), said Saturday that the RBI and SEBI should start public awareness campaigns for depositors on the risk of investing in shady companies.
Chaudhuri's comment came amid the chit-fund catastrophe in West Bengal after the collapse of the scam-tainted Saradha Group.
"Regulatory authorities, particularly RBI (Reserve Bank of India) and SEBI (Securities and Exchange Board of India), should launch campaigns," Chaudhuri told reporters on the sidelines of the ICC Banking Summit here.
Kolkata, May 17 : State-owned energy major ONGC Friday said there is a huge scope of upward revision of the shale gas estimates for the country.
As per the US government's EIA (Energy Information Administration) estimates, India's four basins - Damodar, KG, Cambay and Cauvery - have shale gas resources of around 290 trillion cubic feet, of which 63 TCF is considered technically recoverable.
"There is huge scope of upward revision of the EIA estimates of 63 TCF for the country, which are merely based on the available conventional data from these basins," Oil and Natural Gas Corporation (ONGC) chairman Sudhir Vasudeva said here.
Kolkata, May 13 : Mother Dairy, a wholly-owned subsidiary of the National Dairy Development Board (NDDB), Monday said it is eyeing a 30 percent business growth in its dairy product division to over Rs. 800 crore this fiscal.
"In the last two years our dairy product business grew year-on-year by 30 percent. We expect the division would maintain the same sales growth in the next three to four years," Mother Dairy Fruit & Vegetable Private Ltd's business head (dairy products) Subhashis Basu said here.
Kolkata, May 10 : The over 200-year-old Kalighat Kali temple, one of the city's landmarks visited by tens of thousands of devotees and tourists every day, is set for a makeover, thanks to the intervention of the judiciary.
The high court here has directed the West Bengal government, in an order passed earlier this week, to clean up the temple and its surroundings in response to two public interest litigations.
Kolkata, 9 May : City-based asset finance company Magma Fincorp Thursday reported an 84 percent jump in its consolidated net profit to Rs. 46 crore for the quarter ended March 31, 2013, from Rs. 25 crore for the same period year ago.
The firm's revenue during the fourth quarter last fiscal soared to Rs. 478.70 crore from Rs. 302.64 crore for the corresponding period in the previous fiscal.
For the full financial year, its consolidated net profit surged to Rs. 144.94 crore from Rs. 77.79 crore during the last fiscal.
Kolkata, May 9 : Usha Martin, a leading wire rope and specialty steel manufacturer, Thursday announced a 48 percent hike in its net profit to Rs. 22.11 crore for the quarter ended March 31, 2013, from Rs. 14.91 crore in the same period of the previous year.
The Kolkata-based firm recorded the considerable jump in net profit on the back of a significant increase in Ebidta during the quarter under review at Rs. 192.41 crore against Rs. 123.05 crore in the same period a year ago even as consolidated net sales during the quarter suffered a marginal dip to Rs. 947.71 crore from Rs. 954.41 crore.
Kolkata, May 9 : A West Bengal court Thursday rejected the bail plea of the chit fund aided Saradha Group promoter Sudipta Sen and his close aide Debjani Mukherjee, and sent them to judicial custody till May 22.
Sen and group executive director Debjani Mukherjee were nabbed from Kashmir April 23. They were sent to 14 days' police remand by a Bidhannagar court two days later.
The next hearing will be on May 23.(IANS)
Kolkata, May 9 : West Bengal will soon unveil its new industrial policy, Chief Minister Mamata Banerjee assured industrialists here after a meeting with them at the state secretariat here.
Banerjee recently took charge of the core committee on industries and ushered changes in the policy. She held a meeting with industrialists as well as representatives of various industry lobbies and associations Wednesday.
The new policy would be put up on the government websites within 15 days, Banerjee told the meeting and called for suggestions.
Kolkata, May 8 : Amid clamour for a CBI probe into the raging Saradha Group chit fund scam, West Bengal Chief Minister Mamata Banerjee Wednesday sought public opinion on the Supreme Court describing the agency as "a caged parrot speaking in its master's voice".
"Please see what the Hon'ble Supreme Court has said. CBI has become caged parrot speaking in its master's voice. What do you think? Opinion please," Banerjee said on a social networking site.
Kolkata, May 7 : Public sector Allahabad Bank Tuesday reported a 68.47 percent dip in net profit for the quarter ended March 31, 2013, to Rs. 126.15 crore from Rs. 400.22 crore in the corresponding year-ago period.
The Kolkata-headquartered bank attributed the sharp drop in profit to fresh addition of non-performing assets(NPA), higher provisioning and decline in yield on advances, its chairperson and managing director Shubhalakshmi Panse told reporters after announcing the results.
The bank's total income, however, increased to Rs. 4,776.90 crore for the period under review from Rs. 4,523.38 crore in the year-ago period.
Kolkata, May 3 : Mahindra First Choice Wheels, one of India's largest multi-brand pre-owned car companies, Friday said it is eyeing a high sales growth in premium car category on the back of rising brand consciousness as well as easy availability of such vehicles.
The firm's sales in the premium category doubled to almost six percent of the total 46,000 units sold in the last fiscal. This category had contributed to three percent of its total sales then.
Kolkata, May 3 : Tea production in Assam's Barak valley recorded a sharp decline during the months of March and April compared to same period last year mainly because of the drought conditions prevailing in the area, an official statement said.
Production of the brew in the valley has seen a 67 percent decline for the period up to April 24 from 6.49 million kgs in 2012 to 2.16 million kgs this year, a Tea Board release said here Friday.
Tea production in Barak Valley starts in the middle of March and the tea is processed in April. Tea production during the month of April is critical.
Kolkata, May 1 : With legendary singer Manna Dey turning 95 Wednesday, West Bengal Chief Minister Mamata Banerjee greeted him on the occasion.
"Happy birthday, Manna da," Banerjee said in a Facebook post.
"The golden voice of the legendary artist still abounds in youthful lustre in our hearts. His melodious renditions fill our minds and moods with unparalleled joy and tranquillity. Manna da is evergreen!" she said.
Banerjee had met the music genius last month at the latter's daughter's residence in Bangalore and presented him the Vishesh Maha-Sangeet Sammaan award.
Kolkata, May 1 : City revellers may no longer need to travel to Darjeeling or the Western Ghats hills to see beautiful tea gardens, as the metropolis would soon get its own such plantation.
The West Bengal Housing Infrastructure Development Corporation (WBHIDCO) has launched a project to develop a tea garden on a three-acre plot.
The lush green garden, to be developed for showcasing tea plantations for environmental awareness, will come up at Rajarhat New Town on the eastern fringes of Kolkata.
Kolkata, April 30 : Dabur India Limited Tuesday reported a 17.62 percent increase in its consolidated net profit to Rs. 200.55 crore for the quarter ended March 31, 2013, from Rs. 170.51 crore during the corresponding period previous year.
Total income of the company has increased to Rs. 1,566.63 crore for the period under review from Rs. 1,383.22 crore during like period a year ago.
Kolkata, April 29 : Exide Industries, the country's biggest storage battery producing company, Monday reported a meagre 2.76 percent rise in its net profit to Rs. 146.46 crore for the quarter ended March 31, 2013 compared to Rs. 142.52 crore for the same period a year ago.
Total income of the city-based firm during the period under review increased from Rs. 1,468.89 crore to Rs. 1,571.630 crore for the corresponding period previous year.