State-run oil and gas companies in India plan to pool their resources to bid for the Libra field, located 180 km off the coast of Rio de Janeiro in the Santos basin, Brazil.
Tag: revenue
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Railways carry 171 mn t traffic in 2 months
During April-May 2013, Indian Railways carried 171.91 million tonne of revenue earning freight traffic . The freight carried shows an increase of 7.53 million tonne over the freight traffic of 164.38 million tonne actually carried during the corresponding period last year, registering an increase of 4.58 per cent. During the month of May 2013, the revenue earning freight traffic carried by Indian Railways was 88.19 million tonn
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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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Essar firms to reduce dependence on group companies
Essar group companies like Essar Shipping, Essar Ports, Essar Projects would diversify their operations and reduce their dependence on sister companies for business. These companies largely cater to the sister companies and thereby rely on these firms for revenue generation.
For example, currently, Essar Projects earns around 60 percent of its revenue from group firms, but wants to eventually take external orders to 90 percent, deriving half its re
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GMR confident of servicing debt
Media reports indicate that GMR Infrastructure does not face problem on servicing its debt as the firm feels most of the debt has been ring-fenced over the cash flow of specific projects. In 2012-13, the company paid Rs 608 crore as interest charges, higher than 31 per cent from the previous year. As of end-2013, the firm had a net debt of Rs 33,700 crore, up 15 per cent from the previous finan
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Vizag port seeks Rites’ suggestion for Rs 6.3 bn project
Visakhapatnam Port Trust (VPT) mandated Rites to study the revenue sharing model for the proposed Rs 634-crore second container berth project at the port. VPT roped in Rites to suggest a revenue sharing model because it is not satisfied with the revenue share offered by Visakha Container Terminal Private Limited (VCT
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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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Mormugao Port to develop as cruise terminal
Mormugao Port Trust is holding discussion with various cruise liners to call at the port as Goa is also a popular holiday destination. The port is making attempt to develop cruise tourism as it would serve as an alternate source of revenue at a time when the iron ore cargo volume declined following the ban on mining
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Fitch affirms ratings for RIL
Fitch Rating affirmed Reliance Industries' (RIL) long-term foreign currency issuer default rating at 'BBB-' and LT local currency IDR at 'BBB'. In a statement, the agency said the outlook on the foreign currency issues default rating is stable while the same for local currency IDR is positive
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Under-recovery on diesel sales rises
According to union oil ministry, the under-recovery incurred by oil marketing companies (OMCs) on sale of diesel at subsidised price for the second fortnight effective June 1 rose to Rs 4.87 per litre from Rs 3.73 per litre on May 16. However, under-recoveries towards PDS kerosene and domestic LPG declined to Rs 27.75 per litre (from Rs 27.93 per litre) and Rs 335.14 per cylinder (from Rs 378.38 per cylinder), respectively, the ministry said in a state