Page 353 - Business Finance

Prashant India standalone net profit rises 100.00% in the March 2019 quarter

Sales rise 8.11% to Rs 0.40 crore

ATV Projects India reports standalone net loss of Rs 4.67 crore in the March 2019 quarter

Sales decline 44.36% to Rs 10.85 crore

Aplab reports standalone net profit of Rs 3.96 crore in the March 2019 quarter

Sales decline 29.10% to Rs 14.64 crore

Orient Abrasives standalone net profit declines 27.47% in the March 2019 quarter

Sales rise 1.77% to Rs 85.07 crore

Gokul Agro Resources reports standalone net profit of Rs 4.03 crore in the March 2019 quarter

Sales decline 5.70% to Rs 1084.05 crore

Fiem Industries standalone net profit rises 1.18% in the March 2019 quarter

Sales rise 6.55% to Rs 352.30 crore

PTC India standalone net profit declines 16.33% in the March 2019 quarter

Sales rise 23.55% to Rs 2567.88 crore

Bengal Steel Industries reports standalone net loss of Rs 0.02 crore in the March 2019 quarter

Reported sales nil

AksharChem (India) standalone net profit declines 24.43% in the March 2019 quarter

Sales rise 4.72% to Rs 80.12 crore

Kanishk Steel Industries standalone net profit rises 5.97% in the March 2019 quarter

Sales rise 16.21% to Rs 99.58 crore

Neptune Exports reports standalone net profit of Rs 0.21 crore in the March 2019 quarter

Sales rise 40.00% to Rs 0.14 crore

Mangalore Chemicals & Fertilizers reports standalone net loss of Rs 5.95 crore in the March 2019 quarter

Sales rise 1.41% to Rs 643.09 crore

Union Bank of India reports standalone net loss of Rs 3369.23 crore in the March 2019 quarter

Total Operating Income rise 2.93% to Rs 8349.50 crore

Bansisons Tea Industries reports standalone net loss of Rs 0.12 crore in the March 2019 quarter

Sales decline 41.67% to Rs 0.14 crore

Karur Vysya Bank standalone net profit rises 18.71% in the March 2019 quarter

Total Operating Income decline 1.16% to Rs 1473.59 crore

Home buyers to pay 12% GST on dues if project gets completed before Apr 1

The CBIC further clarified that exempted goods procured by a builder under the new tax regime would not be counted within the 80 per cent limit set for procurement from registered dealers

Sensex declines by 203 pts amid record volatility

After Tuesday's advance, the key equity indices succumbed to selling pressure yet again as the Sensex shed over 200 points on Wednesday amid record volatility.

Greenlam acquires Europe-based Decolan SA

Greenlam Industries Wednesday said it has acquired Europe-based leading supplier of decorative surfaces Decolan SA for an undisclosed amount. The acquisition is expected to be completed in the first quarter of 2019-20 and will further strengthen the company's position in the European market. "This strategic business deal marks the first European acquisition by Greenlam and will allow Greenlam to serve the European market with greater business efficiency," Greenlam Industries MD and CEO Saurabh Mittal said in a statement. While the acquisition will amplify the company's presence in Central Europe, the deal also marks the beginning of Greenlam's next phase of growth and expansion in other European markets, he added. "With this acquisition, we expect our on-ground product inventories to increase by three times which will help in increasing our revenues to 10 million euros in this region in the next three years," Mittal said. Post completion of the acquisition, Decolan SA would become a ..

Amazon Web Services launches availability zone in Mumbai

Cloud platform provider Amazon Web Services (AWS) said Wednesday it is witnessing a "rapid growth" in demand from India, which has made it expand its capacity in the country. The company, a part of e-commerce major Amazon, has recently launched third availability zone of AWS Asia Pacific (Mumbai) Region, AWS said in a statement. "Our continued expansion of availability zones in India is a result of the strong, and growing customer momentum we are seeing in the country across customer segments," head of business development for Amazon Internet Services, Navdeep Manaktala, said. The new availability zone will help customers run mission-critical workloads, innovate faster, enjoy reduced latency, and store data, he added. An availability zone comprises one or more data centres. Microsoft and the new entrant Google are also upping their play in the cloud offerings market, which is led by AWS. There are "hundreds and thousands" of active customers in India who are using the service, the AWS

Tata to transfer food business from Tata Chemicals to Tata Global Beverages

Tata group Wednesday announced the transfer of its branded food business from Tata Chemicals Ltd to Tata Global Beverages Ltd in an all shares deal that will create an over Rs 9,000 crore giant. Tata Global Beverages Ltd (TGBL) will buy the business of selling edible salt, spices, and lentils and give shares in return to Tata Chemicals Ltd (TCL). TGBL will rename itself after the deal as Tata Consumer Products Ltd. The Boards of Directors of TGBL and TCL, at their respective meetings Wednesday, approved the de-merger of the consumer products business of TCL into TGBL, the company said in a statement. Each shareholder of TCL will get 1.14 new equity shares of TFBL for every one equity share held. The proposed transaction will create a focused consumer products company with a combined turnover of Rs 9,099 crore and an EBIDTA of Rs 1,154 crore. "The combination of the two consumer-focused businesses will benefit both sets of shareholders who will be able to participate in a larger ...