Page 3753 - Business Finance

Punj Llyod posts Q4 profit of Rs 944 crore

Infrastructure firm Punj Lloyd today reported a standalone profit of Rs 944 crore for the quarter ended March 2018. The company had posted a loss of Rs 181.58 crore in the year-ago period, Punj Lloyd said in a filing to the BSE. Total income from operations in the January-March quarter increased to Rs 1,133 crore, over Rs 1,027 crore in the corresponding period of 2016-17. The company, it said, as part of its financial restructuring towards paring debt and strengthening balance sheet thereby also being better equipped to bid for new projects, has submitted a proposal to its lenders for restructuring of its debt. The restructuring proposal is currently being reviewed by the lenders as per the latest RBI guidelines. Further, various exercises required for the debt restructuring viz. techno evaluation study, forensic audit, fair valuation of various assets, credit rating and review of future business plans etc are either being carried out simultaneously or have already been ...

Banks temper expectations for first 'Volcker Rule' rewrite

WASHINGTON (Reuters) - U.S. regulators are set to rewrite rules reining in banks' risky trading behavior, making changes that will cut compliance costs but stopping far short of allowing firms to return to their gambling days seen before the 2007-2009 global financial crisis.

ICICI Bank orders probe into allegations against Chanda Kochhar

The board of India's largest private sector lender ICICI Bank has ordered an independent probe into allegations of 'conflict of interest' and 'quid pro quo' in bank's MD and CEO Chanda Kochhar's dealing with certain borrowers. There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis. It was alleged that Videocon Group pumped money into NuPower Renewables, a firm owned by Deepak Kochhar, husband of Chanda Kochhar. Last week, market regulator Sebi had served a notice on Kochhar on dealings of the bank with Videocon Group and Nupower. The enquiry was ordered by the board, at its meeting yesterday, on a complaint by an anonymous whistle-blower against Kochhar, the bank said in a regulatory filing today. "...the enquiry to be headed by an independent and credible person (will) examine and enquire into an additional anonymous whistle-blower complaint...," it said. The scope of enquiry would be comprehensive and ...

EIH Q4 net up 11% at Rs 56 crore

Hospitality major EIH, which runs hotels and resorts under Oberoi and Trident brands, today posted 10.77 per cent increase in its net profit at Rs 56.13 crore for the fourth quarter ended March 31, 2018. The company had reported a net profit of Rs 50.67 crore in the same period of previous fiscal. Revenue form operations for the fourth quarter rose to Rs 431.38 crore, as compared with Rs 369.64 crore in the January-March period of 2016-17, EIH said in a regulatory filing. For the year ended March 31, 2018, the company posted a net profit of Rs 112.27 crore, as against Rs 96.53 crore in 2016-17. Revenue from operations rose to Rs 1,350.28 crore for 2017-18, as compared with Rs 1,277.55 crore in 2016-17. The company's board recommended a dividend of Rs 0.90 per share for 2017-18. Shares of the company today ended 1.69 per cent down at Rs 174.70 on the BSE.

Mukand reports standalone net profit of Rs 115.94 crore in the March 2018 quarter

Sales rise 15.42% to Rs 808.16 crore

Gati reports consolidated net loss of Rs 4.77 crore in the March 2018 quarter

Sales rise 9.56% to Rs 454.58 crore

Confidence Petroleum India reports consolidated net profit of Rs 6.75 crore in the March 2018 quarter

Sales rise 17.24% to Rs 184.71 crore

Wim Plast consolidated net profit declines 6.75% in the March 2018 quarter

Sales rise 12.51% to Rs 112.06 crore

Bronze Infra-Tech reports standalone net profit of Rs 13.64 crore in the March 2018 quarter

Sales rise 20.00% to Rs 0.12 crore

V B Industries reports standalone net loss of Rs 0.48 crore in the March 2018 quarter

Sales reported at Rs 2.71 crore

Impex Ferro Tech reports standalone net loss of Rs 32.25 crore in the March 2018 quarter

Sales decline 42.36% to Rs 30.08 crore

Valley Magnesite Company reports standalone net profit of Rs 0.58 crore in the March 2018 quarter

Reported sales nil

Torrent Power standalone net profit rises 59.95% in the March 2018 quarter

Sales rise 15.57% to Rs 2798.10 crore

Gujarat Containers standalone net profit declines 33.33% in the March 2018 quarter

Sales rise 54.04% to Rs 21.35 crore

Universal Office Automation reports standalone net loss of Rs 1.21 crore in the March 2018 quarter

Reported sales nil

Board of Infibeam Incorporation approves raising funds up to Rs 2000 crore

At meeting held on 30 May 2018

Malaysia tries crowdfunding to plug ballooning debts

KUALA LUMPUR (Reuters) - Malaysia has set up a fund for members of the public to donate cash to help the new government repay its hefty national debt, the finance ministry said on Wednesday, providing a bank account number for deposits.

Hubtown reports standalone net loss of Rs 23.62 crore in the March 2018 quarter

Sales decline 70.28% to Rs 79.16 crore

B A G Films & Media standalone net profit declines 40.82% in the March 2018 quarter

Sales decline 2.74% to Rs 9.22 crore

Sawaca Business Machines standalone net profit declines 66.67% in the March 2018 quarter

Sales decline 20.51% to Rs 0.62 crore