Page 3878 - Business Finance

Future Consumer standalone net profit rises 6.36% in the March 2018 quarter

Sales rise 56.92% to Rs 651.19 crore

KIFS Financial Services standalone net profit declines 21.32% in the March 2018 quarter

Sales decline 44.30% to Rs 1.71 crore

KIOCL standalone net profit rises 28.25% in the March 2018 quarter

Sales decline 7.71% to Rs 398.72 crore

Everlon Synthetics standalone net profit declines 87.34% in the March 2018 quarter

Sales decline 0.90% to Rs 11.04 crore

Symphony standalone net profit declines 8.13% in the March 2018 quarter

Sales decline 14.04% to Rs 155.39 crore

Dhanuka Agritech standalone net profit rises 14.65% in the March 2018 quarter

Sales rise 16.53% to Rs 185.10 crore

Haryana Leather Chemicals standalone net profit rises 21.74% in the March 2018 quarter

Sales decline 6.31% to Rs 9.50 crore

Jamna Auto Industries standalone net profit rises 35.12% in the March 2018 quarter

Sales rise 85.72% to Rs 560.75 crore

Indian Oil Corporation standalone net profit rises 40.25% in the March 2018 quarter

Sales rise 16.93% to Rs 117368.54 crore

CureFit inks deal with Oaktree Capital to bring Fitness First on its platform

Health-technology startup CureFit today said it has inked deal with Oaktree Capital Management under which Fitness First, chain of fitness centres, will become a part of the Bengaluru-based firm's platform. Founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori, CureFit operates its own chain of fitness centres under 'Cult.Fit' and also focusses on mental fitness (through Mind.fit), healthy food (Eat.fit) and primary care (Care.fit). "As a part of the transaction, Fitness First will become a wholly owned subsidiary of Cult.fit, while Oaktree will get minority stake in CureFit. The transaction is expected to be completed in the next few weeks," Nagori told PTI. Oaktree will invest additional capital in the consolidated business. Nagori said Fitness First has 10 premium fitness centres in Delhi-NCR and Mumbai with 10,000 members. The combined entity will have 50 centres in 4 cities with about 40,000 members. "There are significant synergies in our .

SBI shares gain nearly 5 pc, mcap rises by Rs 8,077 cr after Q4 results

Shares of SBI today rose by nearly 5 per cent even as the company reported a record standalone net loss of Rs 7,718 crore in the fourth quarter ended March. The stock gained 3.69 per cent to end at Rs 254.15 on BSE. During the day, it went up by 6 per cent to Rs 259.90. On NSE, shares of the company surged 4.60 per cent to close at Rs 255.70 . Led by the rise in the stock, the company's market valuation rose by Rs 8,077.39 crore to Rs 2,26,818.39 crore. In terms of equity volume, 44.89 lakh shares of the company were traded on BSE and over 6 crore shares changed hands on NSE during the day. The country's largest lender SBI today reported a record standalone net loss of Rs 7,718 crore in the fourth quarter ended March, mainly due to sharp rise in provisioning for bad loans. Besides, a lower investment income as well as higher provisioning for wage revision dented the profits of the state-owned lender, SBI said in a statement. The bank had registered a net profit of Rs 2,815 crore in ...

CCI approves Bayer's acquisition of Monsanto

NEW DELHI (Reuters) - Competition Commission of India (CCI) said on Tuesday it had approved the acquisition of U.S. seed major Monsanto Co by Bayer AG, in a decision that moves the mega deal a step closer toward the finish line.

Cipla posts fourth quarter profit, misses estimates

(Reuters) - Cipla Ltd, India's second-biggest drugmaker by market capitalization, posted a fourth-quarter profit on Tuesday, but missed street estimates.

Smaller towns will drive luxury car market: BMW India head

Smaller towns will drive the growth of the luxury car market in the country, according to BMW Group India president Vikram Pawah. The premium car brand is also focusing on emerging towns, opening outlets in Ranchi, Aurangabad and Madurai recently, Pawah told PTI here today. It also plans to open dealer outlets in a majority of seven cities it plans to expand by the end of 2018, he added. "Smaller towns are the future of the (luxury car) industry. We are clearly seeing growth coming from these emerging towns, which is why we are reaching out to these towns more and more," Pawah, who was in the city for the opening of a new dealer showroom said. The industry will get a fillip with the government focusing on infrastructure development in emerging towns, he added. "Out of the seven outlets planned for this year, most will come from emerging towns," he further said. Pawah also called for "rationalisation of tax structure" for the growth of luxury car segment in India, saying .

GE Power India Q4 net up 32 pc at Rs 51.55 cr

GE Power India posted a 32 per cent jump in its standalone net profit of Rs 51.55 crore for the quarter ended March 2018. The company's standalone net profit in the quarter ended on March 31, 2017 was Rs 39.04 crore, a BSE filing said. The company's total income stood at Rs 382.68 crore in the quarter up from Rs 372.47 crore in the year-ago period. The company's standalone net profit for 2017-18 was Rs 26.56 crore, up from Rs 0.29 crore in the previous financial year. Besides approving financial results, the company's board today also recommended a dividend of 30 per cent (Rs 3) per equity share for the year ended March 2018. The dividend, if approved by the members at the ensuing annual general meeting, shall be paid to the members on and from July 23, 2018. The company's business activity falls within a single segment of power generation.

CCI approves Bayer-Monsanto deal

Fair trade regulator CCI has approved the acquisition of US-based biotech major Monsanto by German chemical and pharma major Bayer AG. However, the approval is subject to compliance of "certain modifications". Bayer is buying out Monsanto in a USD 66 billion deal. In a tweet, the Competition Commission of India (CCI) said it has approved "acquisition of Monsanto by Bayer AG, subject to compliance of certain modifications". Earlier in January, CCI had launched a public consultation process to determine whether the billion dollar merger deal between Bayer and Monsanto to create the world's largest seeds and pesticide firm will have any adverse impact on competition in India. Mergers and acquisitions beyond a certain threshold require approval of the CCI. Both the companies have presence in India, with the US firm selling genetically modified (GM) cotton seeds in the country for more than a decade.

'Won't sell Air India sans sufficient bidding amount'

Ministry of Civil Aviation Secretary Rajiv Nayan Choubey noted that the option of not selling Air India would be available if the bidding amount ascertained is inadequate."There are two stages of bidding. The first involves expression of interest in bidding. The last date for this is May 31. The ones who succeed in this will be asked to present a financial bid. We are seeing a lot of excitement about the sale. However, if the required amount is not met, we will decide whether the sale will take place or not," Choubey told ANI.However, the Ministry official assured that interest of those employed with the national carrier would be safeguarded at all times.In March this year, the Centre had appointed Ernst & Young LLP India (EY) as its transaction advisor for advising and managing the proposed strategic disinvestment of the national carrier by way of transfer of management control and sale of 76 percent equity share capital of the airlines held by the government.On a related note, ..

GST on Jet Fuel: Civil Aviation and Revenue secretaries to meet

The Ministry of Civil Aviation Secretary will meet the Revenue Secretary on Tuesday on the issue of bringing aviation turbine fuel (ATF) or jet fuel under the Goods and Service Tax (GST) regime, according to sources.Reacting on this, Ministry of Civil Aviation Secretary Rajiv Nayan Choubey today said that bringing Aviation Turbine Fuel (ATF) under the GST regime will benefit the customers as there will be no increase in airfare."If Aviation turbine fuel (ATF) is brought under the GST regime then we can get input tax credit, it will also benefit the customers since there will be no increase in airfare," Choubey told ANI.All petroleum products are presently outside the territory of the GST.Due to the price hike, following the increase in global crude oil rates, Union Petroleum and Natural Gas Minister Dharmendra Pradhan had recently appealed to the GST council to bring petrol and diesel under the regime, to ensure uniform taxation.But as of now, there have been no talks over bringing ...

Nagarjuna Agri Tech standalone net profit declines 50.00% in the March 2018 quarter

Sales decline 10.56% to Rs 1.27 crore

Bombay Wire Ropes reports standalone net profit of Rs 0.01 crore in the March 2018 quarter

Reported sales nil