Andrew Wong, Credit Analyst at Standard & Poor's expects ONGC's EBITDA to improve by at least $2.0 billion each year on average from fiscal 2014-15 once India implements natural gas price increase. Therefore, the state-run energy explorer may strengthen its cash flow and profitability from the next fiscal year, exceeding the earlier expectations, he
Tag: profit
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Recoverable gas reserves set to rise
According to a research note by Macquarie Research, the hike in the natural gas price could boost India's recoverable gas reserves manifold. The note quoted global consultants IHS-CERA to say that the nation's producible gas resources will rise to 80 Tcf at $8 gas price. Meanwhile, union petroleum Minister M Veerappa Moily said over 3 Tcf of gas discoveries are lying to be exploited. These have not been declared commercial by our
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Dena Bank to strengthen presence in eastern regions
Ashwani Kumar, Chairman and Managing Director of the state-run Dena Bank said the bank decided to set its footprint in the eastern part of the country especially in West Bengal and Bihar. The state-run bank, which is predominantly present in the western part of the country, is turning to east as the region appears less crowded and shows opportunity
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Minister raises concern on rising bad loans
Finance Minister P Chidambaram raised concern about the rising non-performing assets (NPAs) in the banking system and asked banks to control it order to prevent adverse impact on profitability. Huge provisioning for NPAs is eating into the profits of state-owned banks, the minister said while addressing the annual general meeting of the Indian BanksÂ’ Association
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Analysts expect good prospect for SKS Microfinance
Some analysts feel that SKS Microfinance has good business prospects as it revamped its business model following the crisis in the microfinance sector in Andhra Pradesh. The microfinance institution (MFI), which was incurring loss since early 2011, posted profit after a long gap in December 2012 quarter.
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Net profit of ONGC declines
For the year ended March 31, 2013, the net profit of state-run energy explorer ONGC declined to Rs 209,257.00 million from Rs 251,229.20 million in the previous year. The firm's total Income rose to Rs 884,521.50 million for the year ended March 31, 2013 from Rs 809,954.20 million in the previous year
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Govt may take back navaratna tag from SCI
With the Shipping Corporation of India (SCI) announcing loss for two consecutive years, it may lose the coveted navaratna status, which is given to only profit-making state-run companies. It may be noted that the loss of the firm stood at Rs 428.2 and Rs 114.3 crore in 2011-12 and 2012-13 respectively
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Net profit of OVL rises 44% in FY13
Net profit of ONGC Videsh rose 44.4 per cent to Rs 3,929 crore during 2012-13 from Rs 2,721 crore in the earlier year owing to higher realisation from natural gas sales. The company currently has 32 projects in 16 countries, of which 11 are producing, five are under deve
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Net profit of Hindustan Copper rises
Hindustan Copper announced a net profit of Rs 188 crore for the quarter ended March 31, 2013 as compared to Rs 137.4 cr in the year-ago period. Total Income declined from Rs 622 cr during Jan-Mar 2012 quarter to Rs 550 cr.For the year ended March 2013, the company posted a net profit of Rs 355.6 cr compared to Rs 323.4 cr. Total income rose from Rs 157.24 cr for the year ended March 31,
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APSEZ posts 44% rise in profit
During 2012-13, profit of Adani Ports and Special Economic Zone rose 44 percent to Rs 1,608 crore from Rs 1,117 crore in the previous year. The sharp rise in profit is attributed to the 29 percent rise in coal handling by the port, the company said in a press release. The country's largest private port operator, which operates two ports at Mundra and Dahej, both in Gujarat, witnessed 40 percent rise in revenue to Rs 3,841 crore from