SAIL’s net profit up 18 per cent

The Steel Authority of India Limited (SAIL) announced in New Delhi on Tuesday that it has posted 18 per cent growth in net  profit at Rs 1700 crore in the quarter ended september 2007 (Q2). The improvement in financial performance during Q2 was due to higher production of saleable steel, including value-added products, higher sales volume, improvement in major techno-economic parameters, lower interest cost and higher interest earnings.  

UB to raise Rs 1,320 crore

United Breweries Limited on Tuesday in Mumbai said it will raise Rs 1,320 crore through issue of securities in the domestic and international markets. The board of directors has approved raising of Rs 600 crore by way of domestic and international offering of shares or Global Depository Receipts through public issue or on private placement basis, subject to the shareholders’ approval, the company said. The company would also issue warrants worth Rs 720 crore convertible into equity share at a face value of Rs 10 each, it added.

Oracle among top 3 by Gartner

Oracle announced in Bangalore on Tuesday that it was ranked by Gartner as the fastest growing middleware vendor among the top three portal, process and middleware (PPMW) vendors in India in 2006. In its recent study, “Market share: portal, process and Middleware Software, Asia/Pacific and Japan, 2004-2006,” Gartner reports that Oracle’s PPMW software posted 81.5 per cent revenue growth in India in 2006, grew more than three times faster than the market as a whole while Oracle’s largest competitor lost share.

Tata Chemicals Q2 net up 12 pc

Tata Chemicals on Tuesday in Mumbai posted a 12.23 per cent rise in net profit at Rs 208.22 crore for Q2 ended September 30 as compared to Rs 185.53 crore for Q2 last fiscal. The total income of the company increased to Rs 1,777.69 crore for the quarter under review as against Rs 1,662.53 crore for the same period last year. The standalone net profit declined by 9.58 per cent at Rs 142.55 crore for the reported quarter as compared to Rs 157.65 crore for the same time last year.

Royal Orchid Q2 net rises 6 pc

The Royal Orchid Hotels Limited on Tuesday in Bangalore reported a 5.93pc rise in second quarter net profit on consolidated basis at Rs 7.49 cr, compared to the same period last year. Total income rose by 9.11 per cent to Rs 31.46 crore, the Bangalore-based company said in a statement.

Quality Summit by CII in City

The confederation of Indian industry - Institute of Quality is organising the 15th Quality Summit with people to profit: Driving performance through organisational excellence at the focus on November 1 - 2 at Bangalore. The summit will be a platform to highlight quality in organisational excellence, expose the latest trends and processes, benchmark with major companies and network with industry experts.

Bank of India net up by 100 pc

Bank of India (BoI) on Monday posted an 100 per cent growth in its net profit during the second quarter ended September 30, 2007 at Rs 425 crore as compared to Rs 212 crore in the comparable quarter a year ago. Deposits grew by 25 per cent at Rs 129,590 crore from Rs 103,293 crore a year ago. Advances stood at Rs 95,816 crore during the period as against Rs 75,097 crore last  fiscal..

MRPL net profit at Rs 332 crore

MRPL announced that the company has earned a net profit of Rs 332 crore as compared to Rs 9 crore in the corresponding previous quarter of 2006-07 after providing for interest and finance charges of Rs 36 crore (Rs 59 crore), depreciation of Rs 95 crore (Rs 87 crore) and tax provision of Rs 26 crore (Rs 5 crore).    Throughput during the quarter was marginally higher at 3.22 MMT . However, turnover was Rs 8,852 crore (Rs 8,908 crore) due to depreciation in the US dollar vis-a-vis the rupee.