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Tech Mahindra posts net profit of Rs 221.39 crore in Q4

Tech Mahindra posts net profit of Rs 221.39 crore in Q4Indian software services firm Tech Mahindra on Monday announced net profit of Rs 221.39 crore for the fourth quarter ended March 31, 2009 against a net loss of Rs 207.07 crore reported during the corresponding quarter in 2008.

However, company's total income for the quarter ended March 31, 2009 has decreased to Rs 1,019.31 crore from Rs 1,026.29 crore in the year-ago quarter.

For the year ended March 31, 2009, the company reported 188% surge in its net profit of Rs 986.65 crore against Rs 342.11 crore shown in 2008.

Bank of Baroda Q4 net shoots up 172%; declares dividend of Rs 9 per share

Bank of Baroda Q4 net shoots up 172%; declares dividend of Rs 9 per shareBank of Baroda, the sixth largest bank of India, has reported growth of 172% in its net profit at Rs 752.69 crore for the fourth quarter ended March 31, 2009.

The bank had a net profit of Rs 276.44 crore in the March quarter of FY'08.

Further, the lender has registered 28.50 per cent jump in its total income to Rs 4,992.41 crore during the March quarter, from Rs 3,885 crore in the corresponding quarter last fiscal.

Tamil Nadu Newsprint to spend Rs 1000 crore on Capacity Expansion

Tamil Nadu Newsprint to spend Rs 1000 crore on Capacity ExpansionTamil Nadu Newsprint and Papers Ltd, the leading manufacturer of printing and writing papers and newsprint in India, has plans to spend Rs 1000 crore on capacity expansion.

Through the latest decision, the company intends to tap 12-13% market share of the printing and writing paper segment, by 2011-12.

Triveni Engineering Q2 net profit soars 10%

Triveni Engineering Q2 net profit soars 10%Sugar producer Triveni Engineering & Industries, on Monday announced a 10 per cent surge in its net profit at Rs 37.77 crore for the second quarter ended March 31, 2009, compared to Rs 34.28 crore in the year-ago period.

During the same period, company's net sales also grew by 21 per cent to Rs 457.58 crore in the latest quarter from Rs 378.27 crore in the corresponding year-ago period.

For the six months ended March 31, 2009, Triveni Engineering posted a net profit of Rs 61.75 crore as compared to Rs 59.96 crore.

Small revival of Surat diamond industry brings smile back to workers

Small revival of Surat diamond industry brings smile back to workersSurat, Apr 27: After a lull, diamond market in Surat was abuzz with activity following slight spurt in demand for high quality diamond.

Reportedly, over a hundred thousands of workers had lost their jobs following the recent recessionary trends.

With the current revival in a portion of the industry, recruitment of highly skilled workers has commenced.

India requests IMF for increase in its quota share; ready to buy $10 billion bonds

IndiaHighlighting the escalating economic importance of India in the world scenario, the Indian government has sought an increase in its International Monetary Fund (IMF) quota share, saying that it would put in nearly $10 billion to enhance the Fund's resources, corresponding to its existing share.

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