State-run banks received a directive from the union finance ministry to declare a minimum 20 percent of their capital or net profit, whichever is higher, as dividend for 2012-13. The move by the ministry has not gone down well with these banks, who are already facing strain on their balance sheet owing to the rise in the non performing asse
Tag: profit
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Govt mulls SPV for developing coal blocks under PPP
According to a blueprint prepared by the finance ministry, a special purpose vehicle (SPV) would be created for developing coal blocks in the country on public private participation (PPP) model. The government has identified 10 cluster blocks for development under PPP model and the SPV would be set up for each of these
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SKS gets Rs 31 bn funding inflow in FY13
The total incremental funding inflow received by SKS Microfinance in 2012-13 more than doubled to Rs 3,150 crore from Rs 1,434 core in 2011-12. The funding inflow in 2012-13 includes Rs 1,207 crore received through 12 securitisation transactions with seven funding partners, an incremental debt of Rs 1,68
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Loan book of SKS may double in 2013-14
Some analysts expect the loan book of SKS Microfinance to double to Rs 3,000 crore by the end of 2013-14 from Rs 1,500 crore levels in 2012-13 even in the absence of fresh lending in Andhra Pradesh. The loan book of the company is expected to double on the back of its geographical expansion. The company has increased its presence in states such as UP, Rajasthan, Gujarat, amongst others and this may drive growth
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Loan book of SKS may double in 2013-14
Some analysts expect the loan book of SKS Microfinance to double to Rs 3,000 crore by the end of 2013-14 from Rs 1,500 crore levels in 2012-13 even in the absence of fresh lending in Andhra Pradesh. The loan book of the company is expected to double on the back of its geographical expansion. The company has increased its presence in states such as UP, Rajasthan, Gujarat, amongst others and this may drive growth
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Court allows SKS Microfin to resume business in AP
In an interim order, the Supreme Court allowed SKS Microfinance to resume microlending operations in Andhra Pradesh without securing a no-objection certificate from the state government. MFI operations in the state, by and large, came to a standstill after the state government introduced the Andhra Pradesh Micro Finance Institution (Regulation of Money Lending) Ordinance 2010
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Minister rules out recast of loss-making units
Union Minister of Steel, Beni Prasad Verma ruled out any question of revival or restructuring of loss making plants or units of Steel Authority of India (SAIL). He argued that although some plants or units of SAIL have reported losses, SAIL on the whole is making net profit and hence there is no case for revival or restr
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Sales of Gujarat Gas rises in Dec quarter
The consolidated net sales of Gujarat Gas Company rose to Rs 756.5 crore during the quarter ended December 31, 2012 from Rs 641.5 crore in the year-ago period. The consolidated net profit of the firm rose to Rs 70.6 crore from Rs 25 crore during this interval, Sugata Sircar, Managing
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Net profit of Steel Exchange India rises
The net profit of steel maker and trader Steel Exchange India rose to Rs 5.85 crore during October-December 2012 from Rs 3.86 crore in the same quarter of previous year. But sales of the firm contracted slightly to Rs 304.89 crore during the quarter, from Rs 355.22 crore in the year-ago period. The company expects to save costs considerably with the recent lau
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High interest outgo raises loss of GMR Infra
Huge interest outgo crimped the bottomline of infrastructure developer GMR Infrastructure, which posted a net loss of Rs 217 crore during Oct-Dec 2012. The company's interest outgo during the period is said to have risen 24 per cent to a total of Rs 525 crore, reports suggest. It is sitting on a consolidated debt