GAIL India is studying the impact of the recent tariff order by the Petroleum and Natural Gas Regulatory Board (PNGRB) on its financial position. Some reports indicate that the May 10 order of PNGRB may cause Rs 500 crore loss for the company. In its order, the downstream regulator retrospectively reduced the tariff charged by GAIL for its Krishna Goda
Tag: revenue
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Net profit of HDFC rises 17%
Net profit of the Housing Development Finance Corporation (HDFC) rose 17.27 per cent to Rs 1,555 crore during Jan-Mar 2013 quarter on a standalone basis. The financial institution attributes the growth in profit to rising loan book and maintaining of margins. Net interest margin of the company was 4.2 per cent while the spread was 2.3 per
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Net profit of Corporation Bank rises marginally
Corporation Bank posted a net profit of Rs 3,555.310 million for the quarter ended March 31, 2013 as compared to Rs 3,512.625 million for the quarter ended March 31, 2012. Total Income has increased from Rs 40,091.798 million for the quarter ended March 31, 2012 to Rs 46,354.956 million for the quarter ended March 31, 2013
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Subdued demand may hit margins of steel firms
Owing to subdued demand for steel, earnings of companies in the sector may remain under pressure despite decline in the cost of coking coal and iron ore, the two key raw materials. Some analysts feel that earnings of steel firms may not improve in the next quarter and may recover only from the second half of 2012-13 as demand revives once cons
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Income of Gujarat Pipavav Port rises in March quarter
Net sales or income from operation of Gujarat Pipavav Port rose to Rs 124.47 crore during Jan-Mar 2013 from Rs 100.38 crore in the year-ago period. The port posted Rs 35.37 crore net profit during the quarter under consideration against Rs 14.08 crore in the corresponding period of
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NMC to present Rs 23 bn budget for FY14
Nashik Municipal Corporation (NMC) would announce a Rs 2,539.95 crore civic budget for 2013-14 on May 14. It may be recalled that the standing committee of the civic body raised the size of the budget from the initial estimate of Rs 1,556.80 crore to Rs 2,359.95 crore. The committee revised the budget estimates by suggesting measures to increase the revenue of the civic body by Rs 803.15
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NMPT may post Rs 138 cr net surplus
The New Mangalore Port, which recorded a 12.43 percent growth in cargo volume in 2012-13 at 37.04 million tonne (mn t), may announce about Rs 138 crore of net surplus during the year, reports indicate. If the port is able to post the above net surplus, then it would be the 8th consecutive year that the figure exceeds Rs 100 crore, reports suggest
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Plan panel clears Rs 5.48 tn outlay for railways in 12th plan
The Planning Commission approved an outlay of Rs 5.19 lakh crore for Indian Railways in the Twelfth Five Year Plan (2012-2017). It may be noted that the railway ministry proposed an outlay of Rs 5.48 lakh crore. This information was given by the Minister of State for Railways Adhir Ranjan Chowdhury in Rajya Sabha. The total outlay cleared by the commission includes
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Rating agencies raise concern on margin pressure for Tata Steels
Rating agencies are not optimistic about the domestic operation of Tata Steel as its margins are under pressure because of low pricing power in the Indian market. Owing to slowdown in the economy and the resultant weakness in steel consumption, the pricing power of the company is restricted. Therefore, rating agencies like Fitch and Moody's assig
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Growth in corporate sales falls sharply in Dec quarter
Growth in the sales of 2,745 non-financial private sector companies declined sharply to 9.2 per cent at Rs 7.5 lakh crore in Oct-Dec 2012 from 19.2 per cent in the year-ago period. Data released by Reserve Bank of India (RBI) on these companies shows. During Jul-Sep 2012, sales of these firms expanded 11.3 per cent. The sales growth in Oct-Dec 2012 quar