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Page 2143 - Business Finance

PMK blasts 518 per cent property tax rates hike

PMK founder S. Ramadoss on Friday urged the Madras High Court to summon the concerned Minister and all officials and condemn them for hiking the property tax rates much more than the undertaking given to the court.

Updated On : 26 Oct 2018 | 5:20 PM IST

ITC Q2 net rises 12% at Rs 2,955 crore

Net profit of diversified conglomerate ITC Limited during the September quarter of the current fiscal increased 11.9 per cent at Rs 2,954.67 crore. Gross revenue for the quarter stood at Rs 11,094.89 crore, representing a growth of 14.7 per cent, driven mainly by FMCG (non-cigarette), agri-business and hotels, the company said in a statement. The company's profit before depreciation, interest and tax stood at Rs 4,205.97 crore, registering a rise of 11.8 per cent over the same period last fiscal. Revenue from the FMCG (non-cigarette) segment was up 12.7 per cent, the statement said, adding that EBITDA (Earnings before interest, tax, depreciation and amortization) was up 77 per cent driven by enhanced scale, product mix enrichment and cost management initiatives, notwithstanding increase in input costs. EBITDA for the hotels segment increased 35 per cent after absorbing gestation cost of new properties. Paperboards, paper and packaging segment profit increased 13.4 per ...

Updated On : 26 Oct 2018 | 5:20 PM IST

Global Markets: Selloff slugs Europe as stocks head for worst losing streak since 2013

LONDON (Reuters) - World stocks slid lower on Friday and were set to post their worst weekly losing streak in more than five years, as anxiety over corporate profits added to fears about global trade and economic growth.

Updated On : 26 Oct 2018 | 5:15 PM IST

ICICI Bank second-profit halves, misses estimates

(Reuters) - ICICI Bank, reported on Friday a 55.8 percent fall in second-quarter net profit, which missed analysts' estimates, as expenses climbed.

Updated On : 26 Oct 2018 | 5:15 PM IST

ICICI Bank Q2 net profit dives 42 pc to Rs 1,205 cr

ICICI Bank Friday reported a 42 per cent drop in its consolidated net profit to Rs 1,204.62 crore in the quarter ended September 2018. The country's largest private sector lender had posted a consolidated net profit of Rs 2,071.38 crore in the corresponding quarter a year ago, the bank said in a regulatory filing. However, total income of the bank on a consolidated basis rose to 31,914.82 crore as against Rs 30,190.54 crore a year ago. On a standalone basis, its net profit fell by 56 per cent to Rs 908.88 crore in the said quarter as against Rs 2,058.19 crore in July-September 2017. The bank had reported a net loss of Rs 119.55 crore in the first quarter of the ongoing fiscal. Total income of the ICICI Bank on a standalone basis stood at Rs 18,262.12 crore during the September quarter, down from Rs 18,763.29 crore in the year-ago period. Its shares closed at Rs 315.05 apiece on the BSE, down 1.45 per cent from their previous close.

Updated On : 26 Oct 2018 | 5:15 PM IST

Shanthi Gears sees increase in net profit

: Shanthi Gears Limited of the Murugappa group has registered a 25.6 per cent rise in its net profit during July-September 2018. The net profit touched Rs 9 crore against Rs 7.16 crore during the corresponding period last year and the income grew to Rs 62.87 crore (Rs 56.88 crore), a press release from the company said here. For the half-year period ending September 30, the net profit was Rs 17.50 crore (Rs 12.22 crore) while the total income was Rs 127.18 crore (Rs 116.03 crore), the release said. The profitability and lower capital invested during the quarter ending September 30 ensured return on average capital employed (ROCE) at 22.4 per cent from 17.3 per cent in the same period last year, it said. Free cash flow of Rs 10.2 crore in the second quarter ending September 30 was helped by better networking capital and higher profits, the release said. The order book of the company during the quarter stood at Rs 73.7 crore (Rs 56.4 crore), it said. Shanthi Gears ...

Updated On : 26 Oct 2018 | 5:10 PM IST

ITC Q2 profit up 12 % to Rs 2,955 crore

Diversified group ITC Friday reported 11.92 per cent rise in standalone net profit at Rs 2,954.67 crore for the second quarter ended September 30, led by strong performance across segments like cigarettes FMCG, and agribusiness. The company had posted a net profit of Rs 2,639.84 crore in July-September quarter of 2017-18, ITC said in a BSE filing. Total income during the reported quarter stood at Rs 11,776.63 crore as against Rs 10,258.13 crore in the year-ago period, it added. "The company delivered a healthy performance during the quarter amid a challenging business environment and continuing pressure on the legal cigarette industry," said ITC in a statement. Total expenses of the Kolkata-headquarter firm were at Rs 7,407.51 crore as against Rs 6,313.84 crore earlier. During the quarter, revenue from total FMCG business was up 11.25 per cent to Rs 8,186.41 crore as against Rs 7,358.32 crore in the year-ago period. ITC's revenue from cigarettes was at Rs 5,026.06 crore, up 10.36 per .

Updated On : 26 Oct 2018 | 5:10 PM IST

Quick Wrap: Nifty Private Bank Index registers a drop of 2.05%

Updated On : 26 Oct 2018 | 5:10 PM IST

Nifty November 2018 futures at premium

Turnover in the F&O segment drops

Updated On : 26 Oct 2018 | 5:10 PM IST

Havells India gets reaffirmation in credit ratings

From CARE

Updated On : 26 Oct 2018 | 5:09 PM IST

ArcelorMittal, Nippon Steel chosen as final bidders for India's Essar Steel

MUMBAI/TOKYO (Reuters) - Creditors of Essar Steel India Ltd have approved a joint offer by ArcelorMittal SA and Japan's Nippon Steel & Sumitomo Metal Corp as the final bid for the debt-laden asset, ArcelorMittal said in a statement on Friday.

Updated On : 26 Oct 2018 | 5:06 PM IST