Vedanta Resources Group's operating profit almost doubled to $882.3 million for the quarter ended December, while revenue rose 26 per cent to $3.06 billion on the back of higher production volumes, mainly zinc.
Author: admin (Infratructure Today)
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ABB India to deliver digital substation for one of IndiaÂ’s largest IT parks
ABB India will deliver a 110 kilovolt (kV) digital substation to Technopark, the largest Information Technology (IT) park in India, based on built-up area, located in the southern state of Kerala and spanning an area of 930,000 square meters. Due to the nature of the industry, the campus is highly dependent on reliable, round the clock power to serve the 350 companies employing more than 50,000 people.
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SpiceJet hit by demonetisation, profit crashes 24percent
SpiceJet, a low-cost carrier, recorded a 24 per cent decline in net profit, at Rs 181.1 crore, in the quarter-ended December, from Rs 239.9 crore in the year-ago period. The airline attributed the performance due to subdued demand due to demonetisation.
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IVRCL Q3 net loss narrows to Rs 249 crore
Infrastructure major IVRCL has reported narrowing of its net loss to Rs 249.27 crore for the third quarter ended December 2016. The company had registered a net loss of Rs 345.47 crore in the same period a year ago.
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Adani PortsÂ’ Q3 net profit up 26percent to Rs 850 crore
Adani Ports and Special Economic Zone (APSEZ) has reported a healthy 25.82 per cent jump in consolidated net profit to Rs 849.75 crore for the quarter ended December 2016, on the back of increased income.
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Ingeteam takes wind converter supplier top spot after record-breaking year
Ingeteam, an independent global supplier of electrical conversion equipment, has announced that it achieved a new record year for the deliveries of its wind power converters worldwide. With nearly 5 GW of new capacity added in 2016 alone, a total of 36,414 MW of wind turbines have been equipped with IngeteamÂ’s technology since 1995, making the Spanish company the worldÂ’s number one supplier of wind power converters.
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Aspirify Energy acquires G.E.T. Water Solutions
In a first of its kind deal in the waste management sector, start-up waste-to-energy management solutions provider Aspirify Energy has acquired Clear Water owned G.E.T. Water Solutions, a certified water treatment business.
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NIIF to raise Rs 8,000 crore in FY18
The National Investment and Infrastructure Fund (NIIF) plans to raise Rs 8,000 crore from various sources to fund projects worth Rs 16,000 crore for the next financial year (FY).
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Viability Gap Funding to support infrastructure projects worth Rs 2,750 crore
Viability Gap Funding, which has been provided a budgetary support of Rs 550 crore, will support projects worth Rs 2,750 crore towards infrastructure building in 2017-18. VGF was Rs 1,000 for the current fiscal.
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GMR Infra posts Rs 382 crore Q3 loss
GMR Infrastructure has reported a standalone net loss of Rs 381.93 crore for the quarter ended December 2016. The company posted a net profit of Rs 40.01 crore in the corresponding quarter of the 2015-16, it said in a BSE filing.