Page 961 - Business Finance
SSPDL reports standalone net loss of Rs 6.40 crore in the December 2018 quarter
Sales decline 19.14% to Rs 3.76 crore
Arihant's Securities reports standalone net loss of Rs 0.02 crore in the December 2018 quarter
Reported sales nil
SPS International reports standalone net profit of Rs 0.99 crore in the December 2018 quarter
Sales rise 1037.77% to Rs 21.39 crore
Olympic Management & Financial Services reports standalone nil net profit/loss in the December 2018 quarter
Sales rise 200.00% to Rs 0.03 crore
Fischer Chemic reports standalone net profit of Rs 0.02 crore in the December 2018 quarter
Reported sales nil
Uniworth Textiles reports standalone net loss of Rs 0.28 crore in the December 2018 quarter
Reported sales nil
SJ Corporation reports standalone net loss of Rs 0.01 crore in the December 2018 quarter
Sales decline 73.15% to Rs 0.69 crore
Deccan Cements standalone net profit rises 268.60% in the December 2018 quarter
Sales rise 270.76% to Rs 497.34 crore
Clariant Chemicals (India) reports standalone net loss of Rs 2.72 crore in the December 2018 quarter
Sales decline 4.89% to Rs 249.88 crore
Asian Granito India consolidated net profit declines 48.89% in the December 2018 quarter
Sales rise 12.30% to Rs 296.22 crore
Bosch net up 19 per cent in Q3
German auto component major's Indian arm Bosch Ltd on Wednesday reported Rs 335 crore standalone net profit for the third quarter (Q3) of fiscal 2018-19, registering a 19.2 per cent annual growth over Rs 281 crore in the same period a year ago.
Gold steadies as dollar pauses on hopes for trade truce
(Reuters) - Gold steadied on Wednesday as the dollar slipped from a two-month peak on hopes of a trade deal between the United States and China, with the metal's gains capped by rising global stock markets.
T-Mobile CEO to defend Sprint deal in Congress
WASHINGTON (Reuters) - T-Mobile US Inc Chief Executive John Legere is set to defend his company's $26 billion deal to buy rival wireless carrier Sprint Corp in Congress on Wednesday, stressing the jobs it will create and how it will benefit the construction of the next generation of wireless networks.
Strides Consumer launches two products
Strides Consumer Private Limited (SCPL), a Bengalurubased consumer healthcare firm, Wednesday announced the launch of two products. The products are NIXIT, an oral Nicotine Replacement Therapy (NRT), and JOINTFLEX, a topical analgesic cream for joint care. Currently, SCPL is present in Karnataka, Andhra Pradesh, Telangana and Tamil Nadu and has distribution set up in Bengaluru, Hyderabad and Chennai. It plans to further strengthen its position in southern markets by covering 50 towns with widened distribution network focused on pharmacies, SCPL CEO Subodh Marwah told reporters. At present, the NRT market is pegged at Rs 156 crore and projected to reach Rs 600 crore by 2023. It is largely led by chewing gum format while SCPLs NIXIT has introduced the Lozenge format in India, company officials said. According to company officials, JOINTFLEX has been in the US for over 20 years besides 15 other countries. In India, it comes with an ayurvedic formulation, they added.
Ruchi Soya Q3 net profit at Rs 6.29 cr
Crisis-hit Ruchi Soya, which is facing insolvency proceedings, Wednesday reported a net profit of Rs 6.29 crore for the third quarter of the 2018-19 fiscal. The company had posted a net loss of Rs 1,956.59 crore in the same quarter of the previous fiscal, according to a regulatory filing. Total income rose marginally to Rs 3,500.07 crore during October-December 2018 from Rs 3,049.94 crore in the year-ago period. Finance cost remained lower at Rs 1.77 crore as against Rs 323.31 crore earlier. The company has not recognised interest payable worth Rs 345.61 crore for the 2017-18 fiscal and Rs 1,165.89 crore for nine months of the 2018-19 fiscal after commencement of the insolvency proceedings in December 2017, it said. Adani Wilmar, which sells cooking oil under the Fortune brand, and Baba Ramdev-led Patanjali are in the fray to acquire debt-ridden Ruchi Soya. Ruchi Soya has a total debt of about Rs 12,000 crore. The company has many manufacturing plants and its leading brands include ...
Renaissance Jewellery Q3 net profit up 27% to Rs 37.59 cr
Renaissance Jewellery Wednesday posted 27 per cent jump in consolidated net profit at Rs 37.59 crore for the December 2018 quarter. The company had posted a net profit of Rs 29.6 crore in the year-ago period, the company said in a statement. Net income rose to Rs 822.37 crore from Rs 616.09 crore during the corresponding quarter of 2017-18. "We reported strong sales growth in the third quarter largely driven by robust traction in licensed branded jewellery sales and increased proportion of studded jewellery to our customers across various markets," Renaissance Jewellery Vice Chairman Sumit Shah said. In addition, the recent acquisition of Jay Gems has now been successfully integrated and has positively contributed to the revenues, he added. The company has diversified operations across the key markets in the US, the UK and Middle East with its global marketing presence through own subsidiaries and via strategic acquisitions over the years.
SC reserves order on Ericsson's contempt plea against RCom chief Anil Ambani, others
The Supreme Court Wednesday reserved its verdict on Ericsson India's plea seeking contempt action against Reliance Communications Ltd chairman Anil Ambani and two others for non-clearance of its Rs 550-crore dues. A bench of justices R F Nariman and Vineet Saran said it is reserving its verdict. During the hearing, senior advocate Dushyant Dave, appearing for Ericsson India, said there was wilful disobedience of apex court's orders and contempt action should be initiated against them. Senior advocate Mukul Rohatgi, appearing for RCom, countered the argument and said no contempt was made as no orders of the apex court were violated. Ambani, Reliance Telecom Ltd chairman Satish Seth and Reliance Infratel Ltd chairperson Chhaya Virani, were present in the courtroom. The court had on October 23 last year asked RCom to clear the dues by December 15, 2018, saying delayed payment would attract an interest of 12 per cent per annum. The plea by Ericsson had sought that the court direct Ambani .
CBDT constitutes 2 committees of to suggest better litigation management
The Central Board of Direct Taxes has constituted two new committees of its officers to suggest ways for better litigation management in the Income Tax Department and also to examine the best global practices in this domain. The first committee, headed by an officer of the Commissioner of I-T-rank, has been given a four-point agenda or the 'terms of reference' to suggest ways to reduce and streamline litigation issues facing the department. The five-member committee has been asked to submit its report to the CBDT, that frames policy for the tax department, within a month. A senior official said the panels have been formed after a conference on legal issues between the CBDT brass and tax officials in January. As per the terms of reference accessed by the PTI, the committee will examine "suggestions/issues on litigation management emerging out of the conference and to report on the solutions and the way forward on such issues". It will also examine cases where the Income Tax Appellate ..
Nifty February 2019 futures at small premium
Turnover in F&O segment rises
Hilton revenue rises 10.6 percent
(Reuters) - Hotel operator Hilton Worldwide Holdings Inc reported a 10.6 percent rise in quarterly revenue on Wednesday, as healthy travel demand helped it boost room prices.