State-run Oil India Ltd posted a 96 percent fall in fourth-quarter profit, hurt by a one-time charge realised on the pre-discount and post-discount price of crude oil paid to a state government.
Net profit was 193.1 million rupees ($2.99 million) in the quarter ended March 31, compared with 4.70 billion rupees a year earlier, the company said on Monday. http://bit.ly/2rwSDXf
By Krishna V Kurup
India's benchmark BSE Sensex edged higher to a record close for a third consecutive session as consumer goods stocks gained, but broader advances were capped by falls in companies that posted weak results such as Reliance Communications .
The BSE Sensex gained 0.26 percent to hit a record close of 31,109.28 points.
Meanwhile, the broade
Tata Power Solar, India's largest integrated solar company, has said that the company has ramped up the scale of business substantially by focusing on building state of art technology, engineering and strengthening on customer & employee satisfaction.
Tata Power Solar increased its revenue by more than two and a half times in just two years to reach Rs. 2262 crore. “The
Finance Minister Arun Jaitley has favoured disinvestment of the loss-making Air India, saying the airline's market share is just around 14 per cent whereas the debt burden is Rs 50,000 crore, reported PTI.
This is the clearest indication yet from the current NDA regime on possible stake sale in Air India, which is staying afloat on taxpayers' money. Air India's market shar
Vijaya Bank will raise Rs 1,000 crore within a year to create buffer as per global capital adequacy norms, Basel III, and to fund business expansion, reported PTI. The board of directors of the bank will put up the matter before shareholders at the annual general meeting (AGM) on June 23.
Consent will be sought from shareholders to create, offer and issue equity shares to qualified in
IT solution company NIIT Technologies on Monday said it has appointed Sudhir Singh as CEO designate. “He joins the company from Genpact where he was the Chief Operating Officer of the IT Services & Capital Markets Business.
He played a key role in the acquisition and subsequent integration of Headstrong Technologies between 2012-2014 as Sr. VP and Managing Director of the in
Credit rating firm Fitch affirmed Bharti Airtel's long-term foreign currency issuer default rating at 'BBB' with stable outlook, reflecting the firm's ability to repay debt, reported PTI.
"Fitch Ratings has affirmed Bharti Airtel's (Bharti) long-term foreign currency issuer default rating (IDR) and senior unsecured rating at 'BBB'. The outlook on the I
The Reserve Bank of India on Friday restricted fresh foreign investment in The Byke Hospitality as shareholding has touched the threshold limit.
“The foreign shareholding through Foreign Institutional Investors (FIIs) in The Byke Hospitality has reached the trigger limit,” the RBI said in a notification.
Hence further purchases of equity shares of this company wo
Ahmedabad-based Adani Group arm Adani Power Ltd has reported its consolidated net loss at Rs 4,960.53 crore for the fourth quarter ended March 31, 2017, due to non-recognition of compensatory tariff (CT) for Mundra plant, following the judgement by the Supreme Court regarding the matter.
“The consolidated net profit of the company stood at Rs 1,012.19 crore during the same perio
Diversified EPC conglomerate Punj Lloyd Ltd has reported its standalone net loss narrowed to Rs 181.58 crore in the January-March quarter of FY17, helped by surge in its revenue. The standalone net loss of the company stood at Rs 396.15 crore during the same period a year ago, said Punj Lloyd Ltd in a filing to the Bombay Stock Exchange.
Further, its standalone total income from opera
Realty major Jaypee Infratech Ltd has reported its standalone net loss widened to Rs 667.55 crore for the fourth quarter ended March 31, 2017. “The standalone net loss of the company stood at Rs 183.39 crore during the same period a year ago,” said Jaypee Infratech Ltd in a filing to the Bombay Stock Exchange.
Further, its standalone total income from operations reversed i
State-controlled utility NTPC Ltd reported a 25.5 percent fall in quarterly profit after taxes, hurt by higher expenses and a one-off charge on impairment loss on investment.
Net profit was 20.79 billion rupees ($322.31 million) in the quarter ended March 31, compared with 27.93 billion rupees a year earlier, the company said on Monday. http://bit.ly/2rMWCi8
By Sudarshan Varadhan
NEW DELHI - India will levy a 5 percent tax on all equipment required for generating solar power compared with nil duty now, a government official clarified, putting an end to confusion about the new taxation policy for the industry after its landmark tax reform.
"All solar equipments and its parts would attract 5 percent GST
MUMBAI - Shares in mobile carrier Reliance Communications Ltd fell as much as 20 percent to an all-time low on Monday, after it reported a $150 million fourth-quarter loss and worries about its heavy debt load resurfaced.
The company, controlled by billionaire Anil Ambani, over the weekend posted its second straight quarterly loss, dragged down by a price war in
Real estate company Omaxe Ltd. on Sunday announced a 55 per cent fall in its consolidated net profit for the fourth quarter ended March at Rs 12.98 crore, compared with Rs 29.03 crore in the same period of 2015-16.
Consolidated income from operations during the said quarter, however, increased 20 per cent to Rs 451.92 crore, from Rs 376.11 crore in the corresponding period
Indian equity markets traded on a flat-to-positive note during the mid-afternoon trade session on Monday as healthy buying was witnessed in consumer durables and FMCG stocks.
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The state-run Indraprastha Gas Ltd (IGL) supplying cooking gas and vehicle fuel to Delhi, Noida, Greater Noida and Ghaziabad has reported a 23 per cent rise in net profit for the fourth quarter ended March at Rs 133.5 crore, buoyed by better turnover and sales.
The supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the National Capital Region had posted a net
Reliance Communications' consolidated revenues for the fourth quarter of 2016-17 stood at Rs 4,524 crore, down 8.1 per cent, a company statement said here on Saturday.
The earnings before interest, tax, depreciation and amortization (EBITDA) margin declined to 24 per cent, compared to 24.5 per cent in the quarter before, the statement said.
Macro-economic data points, along with quarterly results and a decision on the Goods and Services Tax (GST) sub-rates on gold, will form the major themes for the Indian stock markets during the upcoming week, market observers say.
Already at dizzying heights, potential triggers like news on monsoon progress, global geo-political situation and crude oil prices could unleash "
By Sankalp Phartiyal
MUMBAI - Indian mobile phone network operator Reliance Communications Ltd posted its second straight quarterly loss on Saturday, hit by the price war which has broken out in the world's second-biggest mobile market by number of users.
The launch last year of rival Reliance Industries' new Jio 4G broadband service with free voice
MUMBAI - Canada's Fairfax Financial Holdings plans to sell a 12.2 percent stake in its Indian joint venture insurer ICICI Lombard in a deal that will value the company at 203 billion rupees ($3.15 billion), the Indian company said on Saturday.
Red Bloom Investment Ltd, a company wholly owned by private equity investment funds managed by Warburg Pincus, is buying a
Adani Power on Saturday reported a consolidated net loss of Rs 4,960.53 crore for the fourth quarter (Q4) of 2016-17.
According to the company, its consolidated net loss during the quarter under review stood at Rs 4,960.53 crore from a profit of Rs 1,021.19 crore in the corresponding period of 2015-16.
The consolidated net profit for the quarter was hit by th