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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Sinnar Bidi Udyog to hold board meeting
May 25,2017

Sinnar Bidi Udyog will hold a meeting of the Board of Directors of the Company on 19 May 2017.

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Kothari World Finance to hold board meeting
May 25,2017

Kothari World Finance will hold a meeting of the Board of Directors of the Company on 26 May 2017.

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Cravatex to hold board meeting
May 25,2017

Cravatex will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Pan India Corporation to hold board meeting
May 25,2017

Pan India Corporation will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Bhilwara Spinners to hold board meeting
May 25,2017

Bhilwara Spinners will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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SM Dyechem to hold board meeting
May 25,2017

SM Dyechem will hold a meeting of the Board of Directors of the Company on 26 May 2017.

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Super Tannery to hold board meeting
May 25,2017

Super Tannery will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Prima Industries to hold board meeting
May 25,2017

Prima Industries will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Elpro International to hold board meeting
May 25,2017

Elpro International will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Pharmaids Pharmaceuticals to hold board meeting
May 25,2017

Pharmaids Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Sunraj Diamond Exports to hold board meeting
May 25,2017

Sunraj Diamond Exports will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Sahara Housing Fina Corporation to hold board meeting
May 25,2017

Sahara Housing Fina Corporation will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Balurghat Technologies to hold board meeting
May 25,2017

Balurghat Technologies will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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Blue Coast Hotels to hold board meeting
May 25,2017

Blue Coast Hotels will hold a meeting of the Board of Directors of the Company on 26 May 2017.

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Cabinet approves phasing out Foreign Investment Promotion Board
May 25,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the phasing out of Foreign Investment Promotion Board (FIPB). The proposal entails abolishing the FIPB and allowing administrative Ministries/Departments to process applications for FDI requiring government approval.

Henceforth, the work relating to processing of applications for FDI and approval of the Government thereon under the extant FDI Policy and FEMA, shall now be handled by the concerned Ministries/Departments in consultation with the Department of Industrial Policy & Promotion(DIPP), Ministry of Commerce, which will also issue the Standard Operating Procedure (SOP) for processing of applications and decision of the Government under the extant FDI policy.

In addition, Foreign Investors will find India more attractive destination and this will result in more inflow of FDI. The move will provide ease of doing business and will help in promoting the principle of Maximum Governance and Minimum Government.

Background

The proposal for abolition of FIPB was approved by the Cabinet in its meeting on 24-05-2017. Presently, applications are considered by FIPB in Department of Economic Affairs (DEA), Ministry of Finance comprising of various Secretaries of Government of India for making recommendation on FDI applications. After the Cabinet decision, it would be handled independently by Administrative Ministries as per Sector.

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