Net profit of Essar Ports rose 48 percent to Rs 101.4 crore during April-June 2013 from Rs 68.5 crore in the year-ago period. The port announced 22 per cent growth in revenue at Rs 403.7 crore during the quarter under consideration from Rs 330.3 crore in the corresponding period last year. Cargo volume of the firm rose to 14 million tonne during the quarter from 12.65 million tonne in the year-ago
Tag: revenue
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Essar Ports Ltd – Q1 FY14 Net Profit up 48 per cent to Rs 101.4 cr
Essar Ports Ltd. (Essar Ports), part of the Essar Group, today announced its unaudited results for the quarter ended June 2013. Net Profit for Q1 FY14 increased by 48% to Rs. 101.4 crore from Rs. 68.5 crore in Q1 FY13.
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Tata Steel chief expects challenging months ahead
In the company annual report, Cyrus P Mistry, Chairman of Tata Steel said the next 18-24 months will be challenging for the firm owing to volatile raw material prices and systemic weakness in demand in key markets. But he expects the company to strengthen its position on the back of key management initiatives including investment in select facilities, product rationalisation and right sizing of
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Loss of Tata Steel Europe rises to 1.2 bn pounds
Loss of Tata Steel Europe, Britain's largest steel producer, rose to 1.2 billion pounds during 2012-13 from 846 million pounds the previous year. Owing to poor market condition in the second half of the year, the firm witnessed 14 per cent decline in revenues to 8.7 billion pounds. Decline in steel prices, muted demand and competition from cheap imports are affecting the finan
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Net profit rises 42% for IndusInd Bank in June quarter
Net profit of IndusInd Bank rose 42 percent to Rs 335 crore during Apr-Jun 2013 from Rs 236 crore in the year-earlier period. During the quarter, the bank witnessed 27 percent growth in loan portfolio, double the growth rate of the banking industry. The bank's net interest income rose 40 percent to Rs 679 crore from Rs 484 crore in the same period last year. Further, it witnessed 48 percent growth in non-interest income to Rs 471 crore, boosted by an increase in mark-to-m
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Experts seek revamp of royalty policy
Experts argue that the mining industry in India is subject to adhoc and arbitrary royalty regime by the government. They argue that faulty royalty regime is one of the issues plaguing the sector. Industry observers feel that royalty rates of all metals were increased to figures much above the global standards
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Indian Railways carry 256.79 mt of freight in Apr-June
During April-June 2013, Indian Railways have carried 256.79 million tonne of revenue earning freight traffic. The freight carried shows an increase of 11.98 million tonne over the freight traffic of 244.81 million tonne actually carried during the corresponding period last year, registering an increase of 4.89 per cent.
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S&P expects improvement in EBITDA of ONGC
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
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Ministry asked to award one major port project in 6 months
At a recent review meeting of infrastructure ministries, Prime Minister Manmohan Singh asked the shipping ministry to award only one of the proposed two major port projects over the next six months. It may be recalled that the union budget 2013-14 proposed to set up two major port projects, one each in Andhra Pradesh and West Bengal. Of late, private companies developed cold shoulder in implementing projects in the port sector. Projects award
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Bottomline of oil firms set to rise
Media reports indicate that the recent hike in the price of natural gas by the government would boost the bottomline of oil and gas companies in the country. For example, the $8.4 an mBtu price approved by the CCEA, would raise the net profit of ONGC by another Rs 8,500 crore, while it would add another Rs 1,050 crore to the bottom line of Oil India (OIL), reports indicate