Page 1833 - Business Finance
'Mission Impossible' powers Viacom revenue jump
(Reuters) - Viacom Inc, the owner of MTV, Comedy Central and Nickelodeon, reported a 5 percent rise in quarterly revenue on Friday, as its Paramount Pictures division gained from the success of "Mission: Impossible - Fallout". Net income attributable to Viacom fell to $394 million, or 98 cents per share, in the fourth quarter ended Sept. 30 from $674 million, or $1.67 per share, a year earlier. Total revenue, however, rose to $3.49 billion from $3.32 billion.
Pawan Munjal conferred with Honorary Doctorate National Institute of Technology
Pawan Munjal, one of India's foremost corporate leaders, was awarded with an honorary doctorate at the 16th Convocation of the National Institute of Technology (NIT), Kurukshetra.The degree was presented to Mr. Munjal - the Chairman, MD, and CEO, of Hero MotoCorp, the world's largest two-wheeler manufacturer, by Jagdish Khattar, the Chairperson of the Board of Governors, NIT, Kurukshetra, and its Director Dr. Satish Kumar.NIT, Kurukshetra is Munjal's alma mater, having graduated from here with a degree in Mechanical Engineering in 1976.Speaking to the students and other dignitaries at the institute, Munjal said, "The real world outside this campus is going to be very demanding and challenging. You will, therefore, need to be prepared, mentally and physically - to face the challenges and hold your own. Don't just be managers and try to manage and maintain the status quo, but be the agents of change and disruption."He also urged institutes of higher education in the country to ...
Global LNG: Asian spot prices retreat again as shipping clogs up
LONDON (Reuters) - Asian spot prices for liquefied natural gas (LNG) fell this week despite several Japanese buyers in the market, as sellers held onto cargoes hoping for higher bids and used tankers as storage, which also reduced ship availability for other deals.
Zomato appoints Global Head for its new event-driven vertical
Food ordering app Zomato on Friday announced the appointment of Chaitanya Mathur as the Global Head for Zomato Live -- a new event-driven vertical of the company.
Jet Airways continues to fly high; up 8% ahead of Tata Sons board meet
Shares of Jet Airways Friday surged over 8 per cent ahead of a meeting of Tata Sons' board, which is likely to discuss buyout of the cash-strapped airline. The scrip of the airline soared for the fourth consecutive day on Friday. The stock finally settled at Rs 346.85 on the BSE, down 8.07 per cent from the previous close after falling nearly 7 per cent to hit a low of Rs 299.75 apiece in morning trade. In intra-day trade, the scrip climbed 11.23 per cent to Rs 357. At the National Stock Exchange, the shares of the airline closed 6.26 per cent higher at Rs 341. It had risen as much as 14.35 per cent to an intra-day high of Rs 366.95. "Tata Sons board is meeting Friday to consider the proposal to bid for Jet Airways," people in the know of the development had told PTI. On Thursday, shares of Jet Airways had zoomed up to 26 per cent. A section of media had reported that Tata group was conducting due diligence of Jet Airways to buy the full-service carrier from its owner, Naresh ...
Weak credit growth raises odds of first China rate cut in years
SHANGHAI/BEIJING (Reuters) - China's stubbornly weak credit growth has spurred talk of its first cut in benchmark lending rates in three years, but economists and policy insiders say concerns about a potential knock to its currency will likely give the central bank pause.
Exclusive: Kazakh state pension fund was major investor in Kazatomprom IPO - sources
ALMATY (Reuters) - Kazakhstan's state-run pension fund has bought one-third of shares sold by uranium miner Kazatomprom in its $450 million London and Astana Initial Public Offering this week, two sources familiar with the deal told Reuters.
Will continue as Myntra-Jabong CEO; less than 10 pc jobs being cut: Ananth Narayanan
Quashing speculations around his exit, Myntra-Jabong CEO Ananth Narayanan Friday said he will continue to lead the two fashion portals that are in the midst of integrating their back-end functions, which will impact less than 10 per cent of the jobs at the entities. Days after Binny Bansal -- the CEO at Flipkart Group that owns Myntra and Jabong -- announced his exit, the two fashion platforms were brought under Flipkart, with Narayanan now reporting to Flipkart CEO Kalyan Krishnamurthy. This had fuelled speculations that Narayanan was looking to quit due to the new reporting structure. Clearing the air over recent reports, Narayanan told PTI: "I continue to be here and I continue to lead the business". Narayanan had joined Myntra as the chief executive in 2015, succeeding Myntra co-founder Mukesh Bansal. Sources, however, said CFO Dipanjan Basu has put in his papers. There have also been speculations that there could be more exits in the wake of the recent upheaval at Flipkart ...
Preethi Kitchen Appliances sets up new manufacturing unit
: Preethi Kitchen Appliances Private Limited, a wholly-owned subsidiary of Philips India Ltd inaugurated a new manufacturing facility near here Friday. The factory, spread across 70,000 square foot, is a mixer and grinder-manufacturing and assembly unit. "Today, we are proud to say the brand has a network of 10,000-plus dealers, 100 distributors and 96 service centres across the country," managing director of Preethi Kitchen Appliance Srinivasan Subramanian said at the inaugural function. "The manufacturing unit is equipped with top-notch technologies like cobots to increase efficiency and to deliver high-quality products to the consumers," chief business leader of Royal Philips Roy Jakobs said. "We are looking at this as a world-class manufacturing site for mixer grinders and it fits perfectly with our growth plan. We strongly believe the new facility will enable us to sustain our leadership in the industry," he said. Preethi Kitchen Appliances retails mixies, table-top
Myntra, Jabong to merge; Ananth Narayanan stays CEO
Online fashion retailer Myntra Friday said it will completely integrate its sister company Jabong, which will continue to operate as a separate brand. Myntra chief executive officer Ananth Narayanan will lead the Myntra-Jabong team, the company said in a release, dismissing speculations about his exit. Flipkart had acquired online fashion portal Myntra in 2014 and Myntra had acquired Jabong in 2016. The company said since Myntra's purchase of Jabong, the two brands have been steadily integrating key business functions and streamlining processes. "As the next step in this process, Myntra and Jabong will now fully integrate all the remaining functions including technology, marketing, category, revenue, finance and creative teams," it added. The company said Myntra's independence as a business will be preserved and the team will continue to operate independently. "The closer integration of Myntra and Jabong is a necessary step in our continuing development. By better ...
Preethi launches its new manufacturing facility at Chennai
Preethi Kitchen Appliances today celebrated an important milestone in its Make in India initiative with the launch of a new technologically advanced manufacturing facility near Chennai.This marks Preethi's dominance over the last four decades. The 70,000 square feet Mixer-Grinder manufacturing and assembly unit was formally inaugurated by dignitaries from Royal Philips in a grand ceremony.Preethi's growth story has been built on three strong pillars - meaningful innovation, uncompromised quality and best-in-class service. This has made Preethi the #1 Mixer-Grinder brand in India for more than a decade. With Preethi becoming a part of the Philips family in 2011, there were additional investments, and access to overall global expertise and processes.Today, the brand has become an indispensable part of every South Indian household. Preethi attained its helm when consumers started acting as brand guarantors and coined the phrase "Preethi KuNa Guarantee" which later became the brand ...
Master Trust consolidated net profit rises 113.64% in the September 2018 quarter
Sales rise 17.85% to Rs 35.38 crore
Sumeet Industries reports consolidated net loss of Rs 25.65 crore in the September 2018 quarter
Sales decline 25.74% to Rs 214.13 crore
Boston Leasing & Finance reports standalone net profit of Rs 0.01 crore in the September 2018 quarter
Reported sales nil
Euro Ceramics reports standalone net profit of Rs 1.28 crore in the September 2018 quarter
Sales rise 89.21% to Rs 4.56 crore
Munoth Financial Services reports standalone nil net profit/loss in the September 2018 quarter
Sales rise 137.50% to Rs 0.19 crore
Tirupati Fin-Lease standalone net profit rises 100.00% in the September 2018 quarter
Sales rise 367.48% to Rs 5.75 crore
Cindrella Financial Services reports standalone nil net profit/loss in the September 2018 quarter
Sales reported at Rs 0.01 crore
Mukesh Babu Financial Services standalone net profit declines 53.21% in the September 2018 quarter
Sales decline 29.22% to Rs 2.18 crore
Tourism Finance Corporation of India standalone net profit declines 7.93% in the September 2018 quarter
Sales decline 1.12% to Rs 51.26 crore