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Page 2018 - Business Finance

Quadrant Televentures reports standalone net loss of Rs 32.09 crore in the September 2018 quarter

Sales rise 14.12% to Rs 105.77 crore

Updated On : 03 Nov 2018 | 6:04 PM IST

Khaitan Chemicals & Fertilizers standalone net profit rises 1488.89% in the September 2018 quarter

Sales rise 46.11% to Rs 118.70 crore

Updated On : 03 Nov 2018 | 6:04 PM IST

Amrit Corp standalone net profit declines 85.22% in the September 2018 quarter

Sales rise 36.72% to Rs 16.94 crore

Updated On : 03 Nov 2018 | 6:04 PM IST

ERIS Lifesciences consolidated net profit declines 8.19% in the September 2018 quarter

Sales rise 12.96% to Rs 260.56 crore

Updated On : 03 Nov 2018 | 6:04 PM IST

Nava Bharat Ventures consolidated net profit rises 427.44% in the September 2018 quarter

Sales rise 47.84% to Rs 768.35 crore

Updated On : 03 Nov 2018 | 6:04 PM IST

AkzoNobel India Q2 profit down 5% to Rs 37 crore

Paints and coatings maker AkzoNobel India on Saturday reported 4.91 per cent decline in standalone net profit at Rs 36.75 crore for the second quarter ended September 30, 2018 on account of higher tax incidence. The company had posted a net profit of Rs 38.65 crore in the July-September quarter a year ago, AkzoNobel said in a BSE filing. However, its total income during the reported quarter was up 8.33 per cent to Rs 721.88 crore as against Rs 666.36 crore in the year-go period. "Net profit for the quarter at Rs 37 crore reflected a higher tax incidence compared to corresponding quarter of previous year, which included a tax refund, resulting in a decline of 5 per cent," the company said in a statement. AkzoNobel India Managing Director Rajiv Rajgopal said, margins were impacted by increase in raw material cost, depreciation of the rupee and unfavourable sales mix. Total expenses of the company stood at Rs 664.37 crore as against Rs 611.56 crore, up 8.63 per cent.

Updated On : 03 Nov 2018 | 5:50 PM IST

Motoroyale Kinetic plans to develop 300-500cc bike

Superbikes maker Motoroyale Kinetic Pvt Ltd is mulling development of a 300cc-500cc motorbike by 2021 in India, a top company official said here on Saturday.

Updated On : 03 Nov 2018 | 5:40 PM IST

Bayaweaver to invest Rs 1,000 cr on Noida commercial project, ties up with IIFL for funding

Realty firm Bayaweaver will invest around Rs 1,000 crore over the next four years to develop a commercial project in Noida, which will have retail space, hotel and service apartments, a top company official said. The company has already tied up with India Infoline Finance Ltd (IIFL) to fund this project, Bayaweaver CEO Himmat Singh said, adding that the construction work has been awarded to Australian firm Leighton. Bayaweaver, which is a realty arm of property brokerage firm BOP India, has roped in 'Radisson Red' to operate its hotel, he said. "We are coming up with a commercial project in Sector 129 on Noida Expressway comprising 1.9 million sq ft of built-up area and 1.3 million sq ft of saleable area," Singh told PTI. In August 2014, BOP India bought 4.67 acres of land parcel from Jaypee Group for 390 crore. The project 'Oh my God' would have 3.25 lakh sq ft of retail area, a 4-star hotel and 800 service/studio apartments, he said, adding that the name of the shopping mall has ...

Updated On : 03 Nov 2018 | 5:35 PM IST

Odisha approves investment plans worth Rs 25,845 crore

The Odisha government on Saturday approved six proposals to set up large manufacturing units in the state at an investment of Rs 25,845 crore.

Updated On : 03 Nov 2018 | 4:30 PM IST

212 firms went for liquidation under IBC: official

Around 212 firms were sent for liquidation under the Insolvency and Bankruptcy Code (IBC) till September-end, a top official said Saturday. Insolvency and Bankruptcy Board of India (IBBI) whole-time member Navrang Saini said 1,198 corporates were admitted into the resolution process, of which 52 had been successfully resolved. "Most of cases were inherited from the erstwhile BIFR (Board for Industrial and Financial Reconstruction). This is why the number of companies going for liquidation is high," Saini said during an interaction at the Merchants Chamber of Commerce & Industry here. Recovery under the insolvency resolution process ranged between 50 per cent and 100 per cent, he added. Another official of IBBI said that so far, the National Company Law Tribunal (NCLT) benches have received 192 cases of preferential, fraudulent and undervalued transactions.

Updated On : 03 Nov 2018 | 4:25 PM IST

Royal Chicken plans to set up 100 stores in Chennai, Bengaluru

: City-based Royal Chicken Limited is planning to open 100 outlets by the next financial year, chief executive officer of the company said Saturday. "We are aiming at opening five retail stores here this December-end and 50 stores by the next financial year. We intend to venture into Bengaluru with 50 stores by 2019-20," he said. Royal Chicken has plans to bring in the best international practice of procuring, distributing and retailing of poultry products, he added. The doorstep delivery of meat for customers was launched by Tamil Nadu Minister of Information and Publicity Kadambur Raju here recently. A mobile application, a website and a logo of the company were also launched.

Updated On : 03 Nov 2018 | 4:20 PM IST