Page 1313 - Business Finance
Bank of America's quarterly profit more than triples
(Reuters) - Bank of America Corp reported fourth-quarter profit that more than tripled from a year earlier, when it took a $2.9 billion charge related to changes in the U.S. tax law.
DCB Bank standalone net profit rises 51.03% in the December 2018 quarter
Total Operating Income rise 27.26% to Rs 777.30 crore
H T Media consolidated net profit declines 71.52% in the December 2018 quarter
Sales decline 3.32% to Rs 588.89 crore
White Organic Agro consolidated net profit rises 56.39% in the December 2018 quarter
Sales rise 90.14% to Rs 91.38 crore
Phillips Carbon Black standalone net profit rises 91.87% in the December 2018 quarter
Sales rise 53.80% to Rs 945.89 crore
PCBL to select site for south India plant by March, net profit up 92% in Q3
RP-Sanjiv Goenka Group's Phillips Carbon Black Ltd (PCBL) will freeze the location of its proposed Rs 600-crore Greenfield project in south India by March, an official said on Wednesday.
Mindtree posts 35 pc rise in profit in Dec qtr
Mid-sized IT firm Mindtree Wednesday posted 35.1 per cent rise in consolidated net profit at Rs 191.2 crore for the December 2018 quarter as against the year-ago period. The Bengaluru-based firm had registered a net profit of Rs 141.5 crore during October-December 2017, Mindtree said in a BSE filing. Mindtree saw its revenue grow 29.7 per cent to Rs 1,787.2 crore in the reported period from Rs 1,377.7 crore in December 2017 quarter. In dollar terms, the net profit was up 22.2 per cent to USD 26.9 million, while revenue increased 17.4 per cent to USD 251.5 million in the December 2018 quarter as against the year-ago period. "Our consulting first approach combined with deep technology and domain expertise are helping our clients drive enterprise-wide transformations," Mindtree CEO and Managing Director Rostow Ravanan said. He added that this has also helped the company sustain its growth momentum, even in a seasonally weak quarter. "Our continuous investments in our people further ...
Vakrangee Limited Launches 3,300+ NextGen Vakrangee Kendras Across India
/ -- Vakrangee Limited has launched 3,300+ NextGen Vakrangee Kendras across Pan India today, 14th January, 2019. After successful launch in the Mumbai Metropolitan Region (MMR) & National Capital Region (NCR), the company has now rolled out these outlets on Pan India basis. These NextGen Vakrangee Kendras offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-commerce, e-governance, financial services and logistics. These NextGen outlets are spread across 20 states, 340+ districts and 2,000+ postal codes of the country, out of which more than 70% outlets are from Tier 5 and Tier 6 cities. Overall in the Pilot phase, the company plans to have 4,000+ NextGen Vakrangee Kendra stores. Since 2011, the Vakrangee Kendras have evolved from being a non-exclusive store with a single line of service to NextGen Vakrangee Kendras. These NextGen outlets are based on an exclusive digital convenience store model providing access to multi line of services .
BlackRock profit misses as investors opt out of expensive funds
(Reuters) - BlackRock Inc reported a lower-than-expected quarterly profit on Wednesday, as market volatility towards the end of 2018 prompted investors to pull out money from the world's biggest asset manager's actively managed funds.
Analysts raise EU carbon price forecasts, warn of short-term Brexit jitters
LONDON (Reuters) - Analysts have increased their forecasts for prices in Europe's carbon market to 2021 as supply cuts begin to bite, but warned that short-term prices will be volatile due to uncertainty about Britain's departure from the European Union.
BlackRock reports 60 percent slump in quarterly profit
(Reuters) - BlackRock Inc, the world's biggest asset manager, reported on Wednesday a 60 percent slump in quarterly profit from a year ago when the company booked a more than $800 million gain due to changes in the U.S. tax code.
PCBL Q3 PAT up 92pc at Rs 108cr, greenfield plant on track
Phillips Carbon Black Ltd (PCBL) on Wednesday reported a 92-per cent on-year jump in net profit to Rs 108.58 crore in the December quarter, riding on higher realisations from specialised and value-added products. The company clocked robust net sales, too, for the reporting quarter at Rs 950 crore, as compared to Rs 618 crore in the corresponding period a year ago. Following the sharp improvement in earnings, PCBL has dropped equity raising plans for the Rs 600-crore greenfield expansion in south India. "We will not raise any equity to fund the expansion, as there is sufficient internal cash flow to fund the project," Chairman Sanjiv Goenka said. The company had earlier said some capital raising was on the cards to restructure existing loans and fund expansion. The carbon black major's debt currently stands at about Rs 700 crore, down from Rs 1,200 crore two years ago, despite pumping an additional Rs 500 crore in brownfield expansions in Palej and Mundra in Gujarat. PCBL .
SBI plans to sell Essar Steel's NPAs worth over Rs 15,000 cr to recover dues
SBI plans to sell over Rs 15,000 crore worth bad loans belonging to Essar Steel to recover its dues from the debt-laden steel maker. "State Bank of India (SBI) invites expression of interest (EoI) from banks/ARCs/NBFCs/FIs for the proposed sale of its non performing financial asset with total dues of Rs 15,431.44 crore," the bank said in an advertisement. The lender has put the reserve price for the recovery of bad loans from Essar Steel India at Rs 9,587.64 crore. SBI said the resolution plan for the recovery of non-performing asset (NPA) has been approved and filed in NCLT Ahmedabad, according to which the minimum recovery to the bank is Rs 11,313.42 crore. SBI said the reserve price of over Rs 9,587 crore is on the basis of net present value (NPV) of minimum recovery discounted at 18 per cent with a time factor of one year. SBI has asked the interested ARCs/ banks/ NBFCs/ financial institutions (FIs) that they can conduct due diligence of the asset with immediate effect, after ...
Gold rises on failed Brexit vote, Fed rate hike pause hopes
BENGALURU (Reuters) - Gold edged up on Wednesday, supported by uncertainty around Brexit after lawmakers voted down British Prime Minister Theresa May's deal to leave the European Union, while calls grew for a pause in U.S. rate hikes.
Ford forecasts higher 2019 profit
DETROIT (Reuters) - Ford Motor Co on Wednesday forecast higher profit and revenue in 2019 as global industry sales remain flat.
German carmakers warn hard Brexit would be "fatal"
FRANKFURT (Reuters) - German carmakers on Wednesday warned of fatal consequences if Britain left the European Union without a divorce deal, predicting job losses in Britain and Europe and urging lawmakers to redouble efforts to ensure tariff-free trade can continue.
Petrobras board nominee Forman declines post
SAO PAULO (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday that oil industry veteran John Forman had declined the government's nomination to join the board of the company, as the firm is known.
Slots on DD Free Dish to be e-auctioned to private channels
The Prasar Bharati Board has given approval for e-auctioning of slots on the public broadcaster's satellite network DD Free Dish to private channels from February under a revised policy. Doordarshan will conduct the 38th online e-auction for filling up of vacant slots of DD Free Dish DTH Platform from February 11, a statement said. Satellite channels licensed by the Ministry of Information and Broadcasting will be allowed to participate in the e-auction. DD Free Dish will be resuming e-auctions to allocate DTH slots based on a revised policy, Prasar Bharati CEO Shashi Shekhar Vempati said. E-auctions will be based on a differential pricing to be determined by the genre or language of channels, he said. Another highlight of the revised policy is that e-auctions will be held on an annual basis for all vacant unreserved slots to ensure a stable bouquet of channels, Vempati said. In order to lower the entry barrier for genres or languages that are currently under represented on DD Free ...
Cabinet approves expenditure sanction for Integrated E-filing and CPC 2.0 project
Approval granted for expenditure of Rs 4241.97 crore, in addition to Rs 1482.44 crore for existing project
Shiv Kamal Impex appoints CEO
With effect from 16 January 2019