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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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Board of Shilpi Cable Technologies approves acquisition of UAE-based Gulf Aglow LED Lighting FZCO
Jan 02,2017

The Board of Shilpi Cable Technologies on 02 January 2017 approved the 100% acquisition of UAE-based Gulf Aglow LED Lighting FZCO (GAL). The deal gives SCTL a strong entry into the high growth LED market with an established partner that has license to sell under the renowned Westinghouse brand & owned brand n++GALUXn++ in 54 countries, and a vast manufacturing capability. SCTL has already established a wide presence in India in the B2C segment with its n++SAFEn++ brand which will now be used to grow in the LED segment. GALs extensive globalnetwork also becomes available to SCTL to grow SAFE. The acquisition is expected to be completed within three months subject to necessary regulatory approvals.

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3i Infotech allots equity shares
Jan 02,2017

3i Infotech has allotted 10,82,89,063 equity shares of Rs 10 each and 18,95,05,860 0.10% Cumulative Non-Convertible Redeemable Preference Shares of face value of Rs 5 each (Class B Preference Shares) at par on a preferential basis to Standard Chartered Bank upon its accession to Supplemental Master Restructuring Agreement on 20 December 2016.

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Maharashtra Seamless appoints director
Jan 02,2017

Maharashtra Seamless announced that Shiv Kumar Singhal, who has assumed office as Whole-Time Director of the Company w.e.f 01 January 2017, has also been designated as Key Managerial person in the category of Whole - Time Director of the Company.

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Ideal Cellular proposes to issue NCDs aggregating Rs 1000 crore
Jan 02,2017

Ideal Cellular has plans to issue Unsecured, redeemable, non-convertible debentures (NCDs) amounting to Rs 1000 crore on private placement basis on 04 January 2017.

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National Fertilizer announces cessation of director
Jan 02,2017

National Fertilizer announced M. Sagar Mathews, Director (Technical), National Fertilizer has been relieved from the services of the Company on 30 December 2016 on completion of his tenure.

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ITI announces change in directorate
Jan 02,2017

ITI announced that P K Gupta, Director (Marketing) /additional charge Chairman and Managing Director has retired from services of the Company w.e.f afternoon of 31 December 2016 consequent to attaining age of superannuation.

Pursuant to Government of India order dated 30 December 2016, K Alagesan Director-Production is entrusted with additional charge as Director Marketing for a period of three months beyond 31 December 2016.

Accordingly, K Alagesan Director-Production assumed additional charge as Director Marketing w.e.f after noon 31 December 2016.

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Rachana Capital & Securities announces resignation of director
Jan 02,2017

Rachana Capital & Securities announced Grishma Ajayrao Shewale resigned as Company Secretary & Compliance Officer of the Company with effect from 02 January 2017 (after closure of the office hours).

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International Travel House announces resignation of director
Jan 02,2017

International Travel House announced that Anil Baijal Non-Executive Independent Director of the Company has intimated his resignation from the Board effective 30 December 2016 consequent to his appointment as the Lt. Governor of Delhi.

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Asahi Songwon Colors gets revision in credit ratings
Jan 02,2017

Asahi Songwon Colors has received revision in credit ratings from CARE Ratings for bank facilities of the Company.

Long term bank facilities - CARE AA-; Stable (Revised)

Short term bank facilities - CARE A1+ (Reaffirmed)

Long term/ short term bank facilities - CARE AA-; Stable/ CARE A1+ (Revised)

Proposed Commercial Paper Issue - CARE A1+ (Reaffirmed)

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Punjab Communications announces cessation of director
Jan 02,2017

Punjab Communications announced that A K Pathak has relinquished the charge of directorship in the capacity of Executive Director of the Company on 16 December 2016.

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Andhra Bank revises MCLR rates
Jan 02,2017

Andhra Bank has revised the MCLR rates with effect from 03 January 2017.

Overnight - 8.45%
One month - 8.50%
Three month - 8.55%
Six month - 8.60%
One year - 8.65%

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Transpek Industry announces cessation of CFO
Jan 02,2017

Transpek Industry announced that Ashok P. Shah, Vice President & Chief Financial Officer of the Company has retired from his services w.e.f. 31 December 2016.

He had attained the age of superannuation on December 31, 2014 and looking to his significant contributions to the Company, he had been given extension for the period from 01 January 2015 to 31 December 2016.

He ceases to be the Chief Financial Officer of the Company from 01 January 2017.

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Insilco provides operations update
Jan 02,2017

Insilco announced that its plant will continue to remain shut down due to high inventory & low sales volume and restart in the evening of 04 January 2017.

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Great Eastern Shipping Company contracts to buy 2 Suezmax Crude Carriers
Jan 02,2017

Great Eastern Shipping Company has signed contracts to buy 2 Suezmax Crude Carriers of about 157,000 dwt each. The 2010 & 2011 built vessels are expected to join the companys fleet in Q4 FY 2017.

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Trash Skimmers to be Introduced In Six New Cities for Surface Cleaning Of Ganga
Jan 02,2017

National Mission for Clean Ganga (NMCG) will introduce trash skimmers for surface cleaning of Ganga in six more cities in the first week of this month. The cities are Rishikesh, Haridwar, Garh Mukhteshwar, Sahibganj, Kolkata and Navdweep. Urban Local Bodies will be the nodal agency to monitor this work. State Programme Management Groups (SPMGs) and Collectorate office will be supervising these works under the aegis of NMCG at State and district level respectively.

River Surface Cleaning (RSC) work was introduce last year in Allahabad, Kanpur, Varanasi, Mathura-Vrindavan in Uttar Pradesh and Patna in Bihar. Trash skimmers were deployed at the foregoing locations and tonnes of floating waste was collected and disposed off in a proper manner. This task was performed under the CSR head and proved to be extremely effective. In the coming days, more towns will be identified for carrying out similar activities.

Namami Gange programme was launched as a mission to achieve the target of cleaning river Ganga in an effective manner with the unceasing involvement of all stakeholders, especially five major Ganga basin States - Uttarakhand, Uttar Pradesh, Jharkhand, Bihar and West Bengal.

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