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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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Strike to cost up to Rs 18,000 crore to economy; exports too get hurt: ASSOCHAM
Sep 03,2016

With all-India strike by central trade unions affecting trade, transport, key manufacturing facilities and banking services in Kerala, Karnataka, Tripura, Haryana and Uttar Pradesh besides other parts of the country, the loss to the economy is estimated at between Rs 16,000 - Rs 18,000 crore, according to an ASSOCHAM assessment.

Lamenting the fact that India can ill-afford strikes and bandhs as it needs to ramp up its GDP growth by boosting manufacturing and other key sectors like services, the chamber said , reports of production halts in public sector and private sector firms along with stoppage of transport services would damage the pace of growth.

n++Trade, transport and hotels form a major part of the countrys Gross Domestic Product . The other major component to the GDP and GVA is the entire package of financial services including banking. Both these key segments have been crippled by the striken++, ASSOCHAM Secretary General Mr D S Rawat said.

He said, the best course for the trade unions should have been to sit across the negotiating table with the government to reach a middle ground. n++The industry is not against fair wages and a decent living standard for the workforce. But the demand for minimum wages should be balanced enough not to lead to a high cost economyn++.

The strike, the chamber said, would also leave a crippling impact on the domestic as also export despatches. n++For one, in several facilities the manufacturing has been affected. Secondly, in the absence of financial and banking transaction, the entire supply chain gets affected. Then, with transport getting hit, the shipment for exports also gets hitn++.

While the strike had a limited impact in Delhi, Mumbai and Kolkata, the problem is that the entire trade chain gets hit with disruption in either of the centres. n++Once the Goods and Services Tax is implemented, the inter-dependence among different manufacturing and trading centres would even go upn++, ASSOCHAM added.

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Kharif Crop Sowing Crosses 1034 Lakh Hectare Areas
Sep 03,2016

The total sown area as on 2nd September, 2016 as per reports received from States, stands at 1033.99 lakh hectare as compared to 997.11 lakh hectare at this time last year.

It is reported that rice has been sown/transplanted in 372.95 lakh ha, pulses in 142.02 lakh ha, coarse cereals in 184.13 lakh ha, oilseeds in 179.60 lakh ha, sugarcane in 45.77 lakh hectare and cotton in 101.96 lakh ha.

The details of the area covered so far and that covered during this time last year are given below:

Lakh hectare 

CropArea sown in 2016-17Area sown in 2015-16Rice372.95364.43Pulses142.02 106.92Coarse Cereals184.13 175.59Oilseeds179.60178.67Sugarcane45.7749.60Jute & Mesta7.567.73Cotton101.96114.17Total1033.99  997.11

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Paradip to be develop as World Class Smart Industrial Port City
Sep 03,2016

The port city of Paradip is to be develop as World Class Smart Industrial Port City. Joint Secretary (Ports) Sh. Pravir Kishn informed that the Ministry of Shipping is planning to develop Paradip as a world class, globally competitive, smart industrial Port City. The rationale behind developing Paradip as a smart city is that Paradip already have a Major Port and strong mineral resource presence in the region, these factors will make Paradip a hub for Micro Small & Medium Enterprises (MSME).

The on-going Sagarmala programme and the expansion plan of the outer harbor will only increase the port traffic. The Smart City at Paradip will be built on a PPP basic and it will have Multi-modal Logistics Parks (MMLPs), Industrial Parks, Residential and Commercial areas, water management system, waste recycling centre & creek development programme for tourism.

The proposed smart city will be spread across 6727.17 acres, out of which 1652 acres will dedicated to the residential area, where as 1,950 acres and 3,115.17 acres will be dedicated to industrial area and custom bound area respectively.

The greening and road beautification works worth Rs. 6 crores are already underway. The smart city will also have a Solar Energy Park of 20 MW spread over 90 acres of land. 10 MW of this is proposed to be completed by March 2017 and the rest is to be completed by December, 2017. The total cost of the proposed Solar Power project is approximately 160 crores.

The proposed Smart City will also have dedicated drinking water supply lines and a very efficient drainage system. The road network will have dedicated lines for township and port.

The slums area which is currently scattered in 155 acres will be rehabilitated through Pradhanmantri Awaas Yojana.

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Infosys enters into JV agreement with Saudi Prerogative Company
Sep 02,2016

Infosys has entered into a joint venture agreement with Saudi Prerogative Company (SPC), in the Kingdom of Saudi Arabia to conclude IT services for customers located in the Kingdom of Saudi Arabia. The joint venture will be in the ratio of 70:30 (Infosys: SPC) and the agreement is subject to the approval of the Saudi Arabian General Investment Authority.

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Entertainment Network (India) to launch three new channels
Sep 02,2016

Entertainment Network (India) is launching 3 more channels on 05 September 2016. These are in Ahmedabad (104 FM), Jaipur (104 FM) and Surat (91.9 FM). In each of these cities, these channels are the 2nd channels belonging to the Company. The first channels are branded Radio Mirchi (all 98.3 FM). The 2nd channels will be branded Mirchi Love. Mirchi Love is a new brand that the Company is launching.

With these three launches, the company will be operating 44 channels in all.

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IL&FS Engineering & Construction Co announces change in directorate
Sep 02,2016

IL&FS Engineering & Construction Co announced that EI Mouhtaz El Sawwaf, Non-Executive Director of the Company, vide letter dated 01 September 2016, has tendered his resignation from the Directorship of the Company with effect from 01 September 2016.

Consequent to the resignation of El Mouhtaz El Sawwaf as the Director of the Company, Ahmad Dabbous, Alternate Director to Sawwaf ceased to be a Director of the Company with effect from 01 September 2016.

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DLF completes exit from cinema exhibition business
Sep 02,2016

DLF announced that DLF Utilities (DUL), a subsidiary has completed a transaction on 02 September 2016 with Cinepolis India for sale and transfer of remaining seven screens pertaining to DT Cinemas (Saket-6 screens & Greater Kailash Part 2-1 screen) as a going concern on a slump sale basis for a consideration of Rs. 63.67 crore upon receipt of CCI approval.

With the closure of this transaction, the Company will exit from the cinema exhibition business. This is in line with the Companys strategy to focus on Companys core business and divest non-core businesses or assets.

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Brahmaputra Infrastructure secures LoA from Brahmaputra Infrastructure PWD, Dehradun
Sep 02,2016

Brahmaputra Infrastructure has received a letter of Award (LOA) from the office of Chief Engineer Level - II ,National Highways & Bridge (G.M.) PWD, Dehradun, Uttarakhand for the project of Construction of 4 Lane ROB in Km 161 on NH - 72 ( New No. 07), at Ajabpur Railway Crossing in state of Uttrakhand in EPC Mode.

The accepted bid projects is Rs. 49.80 Crores.

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R Systems International plans to set up additional business unit
Sep 02,2016

R Systems International announced that the Board of Directors of the Company by passing resolution through circulation on 02 September 2016 has inter alia approved the setting up of an additional business unit of the Company in a Special Economic Zone at Greater Noida West (U.P.).

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Symphony fixes record date for bonus issue
Sep 02,2016

Symphony has fixed 15 September 2016 as the Record Date for the purpose of determining members who shall be entitled to bonus equity shares in the proportion of 1 (one) fully paid up bonus equity share of Rs. 2 each for 1 (one) fully paid up equity share of Rs. 2 each held by the members.

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Caprihans India standalone net profit rises 74.12% in the June 2016 quarter
Sep 02,2016

Net profit of Caprihans India rose 74.12% to Rs 3.97 crore in the quarter ended June 2016 as against Rs 2.28 crore during the previous quarter ended June 2015. Sales declined 6.86% to Rs 55.50 crore in the quarter ended June 2016 as against Rs 59.59 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales55.5059.59 -7 OPM %7.286.14 - PBDT4.774.25 12 PBT3.973.55 12 NP3.972.28 74

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GE Power India reports standalone net loss of Rs 63.01 crore in the June 2016 quarter
Sep 02,2016

Net loss of GE Power India reported to Rs 63.01 crore in the quarter ended June 2016 as against net profit of Rs 12.43 crore during the previous quarter ended June 2015. Sales declined 8.53% to Rs 383.84 crore in the quarter ended June 2016 as against Rs 419.62 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales383.84419.62 -9 OPM %-19.45-1.18 - PBDT-43.3233.62 PL PBT-57.8219.12 PL NP-63.0112.43 PL

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Assam Company India to hold AGM
Sep 02,2016

Assam Company India announced that the 39th Annual General Meeting (AGM) of the company will be held on 23 September 2016.

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Mitshi India to hold AGM
Sep 02,2016

Mitshi India announced that the Annual General Meeting (AGM) of the company will be held on 27 August 2016.

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Hindustan Organic Chemicals to hold AGM
Sep 02,2016

Hindustan Organic Chemicals announced that the 55th Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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