Reliance Communications (RCOM) on Wednesday reported a 86 per cent increase in the consolidated net profit at Rs 1,304.57 crore for the second quarter (Q2) ended September 30, 2007 as against Rs 702.34 crore in Q2 last fiscal. According to a release issued by the company in Mumbai total income in Q2 increased 30 per cent to Rs 4,578.53 crore.
New business standard of BSI
In an bid to help International companies get assurance of business continuity in cases of emergencies, BSI Management Systems on Wednesday, introduced the BS 25999 standard in Bangalore, India. This is the first British standard for Business Continuity Management (BCM), which is launched simultaneously in the UK, the US and Japan, apart from India.
Frank Post, Group Communications Director, BSI Group said, “These standards are for companies to be efficient and mitigate their business risks.”
This standard is particularly relevant for organisations which operate in high risk environments.
HUL Q2 profit at Rs 408.06 cr
Hindustan Unilever Ltd on Wednesday in Mumbai reported a net profit of Rs 408.06 crore for Q2 ended September 30, while the same was Rs 520.74 crore in the last fiscal. The company’s total income stood at Rs 3470.49 crore for the quarter under review, while it was at Rs 3162.82 crore in the same quarter previous year.
The results of the second quarter this year is not comparable with last years’ due to amalgamation of Modern Foods (India)
IFC’s stake in Karnataka Bank
The Karnataka Bank has approved the issue of equity shares to International Finance Corporation (IFC) Washington. Addressing media persons in Mangalore on Wednesday, Bank Chairman Ananthakrishna said that the Bank has accorded consent to issue 63,73,000 equity shares of Rs 10 each on preferential basis as per Sebi guidelines to IFC.
“The shares are proposed to be issued at a price of Rs 225 per share including the premium of Rs 215 per share,” he said and added that the shares will be allotted to IFC after obtaining permission from the RBI. The IFC is also subscribing to Bank’s Upper Tier 2 Bonds to the extent of $ 10 million.
Hexaware starts centre in Mexico
Hexaware Technologies, on Wednesday, announced the inauguration of its second development centre in Saltillo, Mexico. The centre was inaugurated in the presence of Indian Ambassador to Mexico HE Rinzing Wangdi, the company said in Mumbai. Hexaware launched its operations in Saltillo with the acquisition of specialised testing services firm FocusFrame in 2006.
Publicis Groupe acquires Hanmer
Publicis Groupe of France will acquire Indian public relations consultancy Hanmer & Partners which employs around 350 professionals in 42 cities across India. This strategic acquisition is in line with Publicis Groupe’s plan to expand its offering in high-growth emerging markets, said a press release.
Bharti Airtel Q2 up by 87%
Bharti Airtel on Wednesday in New Delhi reported 87 per cent jump in its consolidated net profit at Rs 1,643.76 crore for Q2 ended September 30, even as the market share in wireless segment rose to 23.4 per cent. The total income of the group increased 46.38 per cent to Rs 6,386.73 crore for the quarter and with 5.1 crore subscribers as on September 30, captured 23.4 per cent market share during the quarter.
EDB acquires stake in SPAN
Bangalore based IT company, SPAN Infotech India announced on Tuesday that it has reached an agreement with Oslo-based EDB who will acquire a 50.1 per cent stake of the company. EDB is one of the largest IT groups in the Nordic countries, said a press release. It has revenues of over $ 1 billion. SPAN Infotech is a CMM level 4 company, principally working in the areas of applications development and management.
