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Ashok Leyland announces senior level organisational changes

Hinduja group flagship company Ashok Leyland on Tuesday announced the appointment of Amanpreet Singh as the head and president of human resources. Prior to taking up the new responsibility, Amanpreet Singh served the Hinduja Group as its vice-president (group human resources), the city-based commercial vehicle maker said in a statement. Singh has been with the Hinduja Group in Mumbai since December 2019 and has been working closely with the group head (human resources). The company, in a release, said it has moved N V Balachander, president, human resources and communication, as the president, Environment, Social and Governance (ESG) initiatives.

JSPL steel production jumps 31% to 13.7 lakh tonnes during April and May

Jindal Steel and Power Ltd (JSPL) has reported 31 per cent year-on-year jump in its steel production to 13.71 lakh tonnes during April and May. The production totalled 6.81 lakh tonnes in April and 6.9 lakh tonnes in May as compared to 10.44 lakh tonnes in the same period last year. Steel sales also increased by 7 per cent to 10.58 lakh tonnes (April 5.59 lakh tonnes and May 4.99 lakh tonnes). However, slowdown in domestic construction activities due to Covid-19 and logistical challenges faced owing to congestion at ports due to adverse weather conditions resulted in sales growth lagging production growth.

Automobile dealers see sales recovering in 2 months as states unlock

Auto sales, particularly two-wheelers, may take another two months to be on track as states on Monday started easing lockdowns to contain the spread of Covid-19. Approximately 40-45 per cent of the total 26,000 automobile dealerships opened on Monday, said Vikesh Gulati, president of Federation of Automobile Dealers Association, the apex body of the dealerships. Union territories and states that started unlocking on Monday after being almost shut for over 45 days include Delhi, Maharashtra, Rajasthan, UP, Chhattisgarh and one or two more states with some restrictions. Typically these 10,000 outlets contribute 700,000 to 800,000 vehicles (combined total of all categories), said Gulati.

Prestige Estates Q4 profit jumps multi-folds to Rs 1,336 cr on asset sale

Realty firm Prestige Estates Projects Ltd on Tuesday reported a sharp increase in its consolidated net profit to Rs 1,336.3 crore for the quarter ending March, driven by monetisation of large portfolio of commercial assets. Its net profit stood at Rs 15.4 crore in the year-ago period. Total income rose to Rs 2,360.6 crore in the fourth quarter of last fiscal from Rs 2,016.9 crore in the corresponding period of the previous year, the Bengaluru-based firm said in a regulatory filing. The company made an exceptional profit of Rs 1,469.8 crore in the fourth quarter from monetisation of certain commercial assets.

Talbros Automotive's profit rise multifold to Rs 12.7 cr in Mar quarter

Auto component maker Talbros Automotive on Tuesday reported a multifold rise in consolidated profit to Rs 12.7 crore for the March 2021 quarter, backed by product mix and higher capacity utilisation. The company had posted a consolidated profit of Rs 2.4 crore in the fourth quarter of 2019-20, according to an investor presentation. Its income from operations rose 73 per cent to Rs 160.4 crore during the March 2021 quarter, compared with Rs 92.5 crore in the March 2020 quarter. For the financial year 2020-21, the consolidated profit rose 70 per cent to Rs 24.4 crore as against a profit of Rs 14.3 crore a year ago.

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