Page 365 - Business Finance

Vodafone Idea reports consolidated net loss of Rs 4881.90 crore in the March 2019 quarter

Sales rise 91.79% to Rs 11740.60 crore

Subex consolidated net profit declines 14.23% in the March 2019 quarter

Sales rise 26.31% to Rs 101.87 crore

Gallops Enterprise reports standalone net profit of Rs 0.94 crore in the March 2019 quarter

Reported sales nil

Pioneer Distilleries reports standalone net loss of Rs 24.22 crore in the March 2019 quarter

Sales decline 60.32% to Rs 33.45 crore

Margo Finance reports standalone net loss of Rs 0.01 crore in the March 2019 quarter

Sales decline 60.00% to Rs 0.06 crore

SRF consolidated net profit rises 54.06% in the March 2019 quarter

Sales rise 27.98% to Rs 2034.81 crore

Future Supply Chain Solutions reports standalone net profit of Rs 16.04 crore in the March 2019 quarter

Sales rise 33.07% to Rs 302.10 crore

Mangalore Refinery And Petrochemicals standalone net profit declines 41.18% in the March 2019 quarter

Sales rise 1.08% to Rs 15152.47 crore

Prerna Infrabuild reports consolidated net profit of Rs 0.95 crore in the March 2019 quarter

Sales rise 2251.52% to Rs 15.52 crore

CCL Products (India) consolidated net profit declines 24.56% in the March 2019 quarter

Sales decline 18.31% to Rs 262.13 crore

Just Dial standalone net profit rises 60.55% in the March 2019 quarter

Sales rise 15.86% to Rs 232.26 crore

Hemang Resources reports standalone net profit of Rs 0.43 crore in the March 2019 quarter

Sales decline 97.34% to Rs 0.50 crore

ED attaches Rs 483-cr properties of Tayal Group

The Enforcement Directorate (ED) has attached immovable properties worth Rs 483 crore of Mumbai-based KSL and Industries Ltd for allegedly fraudulently availing loans worth Rs 524 crore from Bank of India and Andhra Bank in 2008, the agency said on Tuesday.

Indian Bank posts net loss of Rs 190 cr in Q4 on higher NPA provisioning

State-owned Indian Bank Tuesday reported a net loss of Rs 189.77 crore in the fourth quarter of the financial year ended March 2019, as high level of bad loans required substantial amount to be kept as provisioning parking. The bank had registered a net profit of Rs 131.98 crore during the similar January-March quarter of 2017-18. Its total income in the March 2019 quarter, however, was up at Rs 5,537.47 crore as against Rs 4,954.21 crore in the corresponding period a year ago, the bank said in a regulatory filing. For the full year, the bank's net profit was Rs 320.93 crore on a consolidated basis, as against Rs 1,262.92 crore in 2017-18. Total income was Rs 21,073.50 crore in 2018-19, up from Rs 19,531.91 crore a year ago. On the bank's asset quality, the gross non-performing assets (NPAs) or bad loans reduced to 7.11 per cent of the gross advances by the end of March 2019, as against 7.37 per cent at the end of March 2018. Net NPAs came down to 3.75 per cent as against 3.81 per ...

WTO ministerial meet aims at re-energising multilateral trading system: India

India Tuesday said the ministerial meeting of 23 WTO member countries here is aimed at re-energising the multi-lateral trading system, and exuded confidence that collective views of developing countries will help in reforming the global trade body. The two-day ministerial meeting is scheduled to come with a declaration on issues being faced by developing countries, including WTO's special and differential treatment (S&DT) norms. The S&DT norms provide flexibility to developing member countries in the WTO. Under this, they enjoy benefits like higher domestic support for the agriculture sector and longer time periods for implementing agreements and binding commitments. As part of reforms in the WTO, the US is arguing that countries which are doing well in terms of economic growth and prosperity should not be allowed S&DT benefits. "The approach of the New Delhi ministerial meeting is to re-energise and strengthen multilateralism and put in place a more inclusive ...

WPI inflation dips to 3.07% in April; food prices on the rise

Wholesale inflation eased to 3.07 per cent in April on cheaper fuel and manufactured items, even as prices of food articles remained high, official data released Tuesday showed. The Wholesale Price Index-based inflation was at 3.18 per cent in March and 2.93 per cent in February. It was 3.62 per cent in April 2018. Inflation in the 'food articles' basket hardened to 7.37 per cent during April 2019 as against 5.68 per cent in March, as prices of vegetables skyrocketed. Food inflation has been on the rise for the last five months since December 2018 when it was (-) 0.42 per cent. Vegetables inflation too has seen a steep rise since December 2018 when it was (-)19.29 per cent. It stood at 40.65 per cent in April, up from 28.13 per cent in the previous month. Amongst food items, inflation in potato cooled to (-)17.15 per cent. In case of onion and fruits, it stood at (-)3.43 per cent and (-)6.88 per cent, respectively, in April. However, inflation in the 'fuel and power' category cooled ..

Bank loan fraud: ED attaches Rs 483-cr assets of Kolkata business group

Assets worth Rs 483 crore of a Kolkata-based group have been attached by the ED in connection with an alleged multi-crore bank loan fraud case, the agency said Tuesday. The agency said in a statement that it has "provisionally attached immovable properties comprising commercially diverted land of 2,70,374 sq ft along with shopping mall in Nagpur worth Rs 483 crore of KSL and Industries Ltd, Mumbai under the Prevention of Money Laundering Act (PMLA) in a bank fraud case." "KSL and Industries Ltd is one of the group company of the Tayal group of companies," it said. It said the group and its 4 firms including KSL and Industries had availed loans of Rs 524 crore from the Bank of India andAndhra Bankin 2008 which was allegedly defrauded by it using a "maze of shell or illegal companies." This is the second PMLA case against the Tayal group as it was already being probed by the agency for alleged loan fraud againstUCO Bankand assets worth Rs 234 crore of the business group were attached by

GEECL net rises 57 pc in FY19 at USD 9.93 mn

London-listed coal-bed methane (CBM) producer Great Eastern Energy Corp (GEECL) Tuesday reported a 57 per cent rise in FY19 net profit at USD 9.93 million on the back of higher sales. GEECL had posted a net profit of USD 6.32 million in the previous fiscal, the company said in a statement here. Sales rose 7 per cent to 11.48 million standard cubic feet per day from 10.69 mmscfd in FY18. This helped revenue soar to USD 43.64 million from USD 38.75 million. "The revenues and sales volume continue to show good growth. We have a focused plan of further optimising production, as well as pursuing further exploration," GEECL Managing Director & CEO Prashant Modi said. Modi further noted that "with the continued growth of the Indian economy and stable government policies, demand for hydrocarbons in India continues to grow which is evident from the rising imports". CBM production, however, dipped 15 per cent to 16.7 mmscfd in FY19. The company further noted that it expects production to ...

IndiGo announces 3-day summer sale

IndiGo on Tuesday announced a three-day summer sale till May 16 across its network that connects 53 domestic and 17 international destinations. Passengers can avail the all-inclusive fares starting at Rs 999 for travel between May 29-September 28 on domestic and international routes, the airline said in a statement. The routes include Delhi-Ahmedabad, Mumbai-Hyderabad, Hyderabad-Dubai, Chennai-Kuwait, Delhi-Kuala Lumpur and Bengaluru-Male among many others, it added. "With the onset of summer holidays, we are excited to announce this three-day special sale effective (from) today till May 16, 2019," IndiGo chief commercial officer William Boulter said. "To make holiday season more special, IndiGo is offering attractive discounts up to 30 per cent on pre-paid excess baggage and pre-paid express check-in service." The no-frills airline has around 44 per cent domestic passenger market share, according to the DGCA data.

MRPL profit down 41 pc in Q4 on lower refinery margins

Mangalore Refinery and Petrochemicals Ltd (MRPL) Tuesday reported 41 per cent drop in fourth-quarter net profit after refinery margins shrank. Net profit in March quarter 2018-19 at Rs 319 crore was lower than Rs 542 crore reported in the same period of the previous fiscal, the company said in a statement here. The company earned USD 5.01 on turning every barrel of crude oil into fuel as compared to a gross refining margin of USD 7.87 a barrel in the same period of 2017-18. Turnover declined to Rs 17,744 crore in January-March 2019 from Rs 18,746 crore in the year-ago period. MRPL, a subsidiary of state-owned Oil and Natural Gas Corp (ONGC), processed 4.29 million tonne of crude oil in the quarter, a shade lower than 4.31 million tonne a year earlier. Net profit in full 2018-19 fiscal dropped to Rs 332 crore from Rs 2,224 crore in the previous year. "MRPL achieved the highest ever crude oil processing of 16.23 million tonne in 2018-19," the statement said. The firm operates a 15 ...