Business

Indian Oil Q4 net falls 80 percent on inventory losses

Fri, 05/27/2016 - 21:36

New Delhi, May 27 (IANS) State-run Indian Oil Corp on Friday reported an 80 percent fall in net profit for the fourth quarter ended March, caused by inventory losses due to fall in global crude prices, at Rs.1,235.64 crore against Rs.6,285 crore in the same quarter a year ago.

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Capital, NPA will not be impacted by merger: SBI chairperson

Fri, 05/27/2016 - 21:06

Kolkata, May 27 (IANS) State Bank of India's capital or non-performing assets will not be impacted in a big way if the proposed merger of its five associate banks and the Bharatiya Mahila Bank with it happens, chairperson Arundhati Bhattacharya said on Friday.

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Mamata announces focus on youth, ailing tea gardens

Fri, 05/27/2016 - 20:30

Kolkata, May 27 (IANS) West Bengal Chief Minister Mamata Banerjee, who took charge of the state for a second term on Friday, declared the young generation would be her government's focus in the next five years.

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BHEL's Q4 net profit declines by nearly 60 percent

Fri, 05/27/2016 - 19:36

Mumbai, May 27 (IANS) State-run power equipment manufacturer Bharat Heavy Electricals (BHEL) on Friday reported a 59.52 percent decline in its standalone net profit for the fourth quarter of 2015-16.

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'BSES discoms met Delhi's unprecedented power demand in May'

Fri, 05/27/2016 - 19:22

New Delhi, May 27 (IANS) The two BSES distribution companies in the national capital were able to meet Delhi's unprecedented power demand last week when it touched a record 6,188 MW, equipped with additional measures taken by the discoms, a compnay spokesperson said on Friday.

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Northeastern states gateway to Southeast Asia: Modi

Fri, 05/27/2016 - 19:18

Shillong, May 27 (IANS) Terming the northeastern states as the gateway to Southeast Asia, Prime Minister Narendra Modi said that India is opening up both road and rail routes to its neighbouring countries to boost to their economic development.

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SBI net profit down 66.23 percent in Q4

Fri, 05/27/2016 - 18:48

Kolkata, May 27 (IANS) The State Bank of India (SBI) on Friday reported a 66.23 percent decline in its net profit in the quarter ended March 31, 2016 due to increased provisions to cover bad loans, at Rs.1,264 crore as against Rs.3,742 crore in the corresponding period of previous year.

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Concentrix ranked in 'As-a-Service Winner's Circle'

Fri, 05/27/2016 - 18:38

New Delhi, May 27 (IANS) Leading analyst firm HfS Research has named global high-value services provider Concentrix into the "As-a-Service Winner's Circle" for its contact centre operations and strategy, insights, automation and the use of digital platforms.

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Tech Mahindra to acquire Target Group

Fri, 05/27/2016 - 18:22

New Delhi, May 27 (IANS) Tech Mahindra on Friday said its board has agreed to enter into an agreement to acquire Target Group, a processing platform company in Britain.

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Reliance Power net profit up 16 percent in Q4

Fri, 05/27/2016 - 18:16

New Delhi, May 27 (IANS) Anil Ambani-led Reliance Power said on Friday it posted 15.80 percent increase in its consolidated net profit in 2015-16's fourth quarter ending March 31, at Rs.320.16 crore compared to Rs.276.47 crore in the corresponding period in 2014-15.

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FICCI, CII demand relook at tobacco package warning rule

Fri, 05/27/2016 - 18:14

New Delhi, May 27 (IANS) The government should reconsider the rule requiring 85 percent of tobacco product packaging to show pictorial health warning, which has led to rapid growth of the black market, said industry organisations FICCI and CII on Friday.

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