Satyam Q3 revenue up by 32 per cent

Satyam Computer Services, on Monday, announced in Hyderabad, it earned Rs 2,195.56 crore revenue during the third quarter representing an y-o-y increase of 32.2 per cent and a sequential increase of 8.1 per cent. Net profit after tax was Rs 433.63 crore during the third quarter, a y-o-y increase of 28.6 per cent and a sequential increase of six per cent. EPS improved 26.1 per cent y-o-y to Rs 6.48 with EBITDA margin for the quarter being 21.46 per cent, a company release added. 

MRPL and Shell form joint venture

Mangalore Refinery and Petrochemicals Ltd on Monday entered into an agreement with Shell Aviation to supply aviation turbine fuel at Bangalore and Hyderabad airports.

The MRPL-Shell joint venture will later market and supply aviation turbine fuel (ATF) at other Indian airports, a MRPL release said in New Delhi. Together, the companies will offer a compelling co-branded global refueling offer to both Indian and international airlines. The agreement will become effect early in 2008.

ONGC Q3 net down 6.46 pc at Rs 4,336 cr

Oil and Natural Gas Corporation (ONGC) on Monday reported a 6.46 per cent decline in net profit at Rs 4,366.54 crore for the quarter ended December 2007, against Rs 4,668.31 crore over the same period a year ago. Its total income has decreased from Rs 16,269.01 crore for the quarter ended December 2006 to Rs 15,983.81 crore for the quarter ended December 2007, registering a 1.75 per cent fall.

Titan posts 11 per cent rise in net profit

Titan Industries Ltd on Monday posted a 11 per cent rise in its net profit at Rs 30.84 crore for the quarter ended December 2007, over the third quarter last year. The company registered a sales turnover of Rs 813.45 crore, a growth of 50 per cent. For the nine months ended December 2007, Titan recorded sales turnover of Rs 2,205 crore, ahead of the annual sales turnover of Rs 2,136 crores achieved in 2006-07. Similarly, net profit for the current nine-month period stood at Rs 97.80 crore surpassed the net profit of Rs 94.33 crore for the year 2006-07.

HDFC Bank Q3 net profit up 45 per cent

HDFC Bank on Monday posted a 45.23 per cent increase in its net profit at Rs 429.36 crore for the third quarter ended December 31, 2007, as compared to Rs 295.64 crore for the corresponding period last year. The total income of the bank also increased 64.35 per cent at Rs 3,405.79 crore for the quarter under review as against Rs 2,072.23 crore for the same period last fiscal, reports PTI from Mumbai.

Volkswagen rolls out Passat in Bangalore

Europe’s largest carmaker—Volkswagen, on Monday, announced the launch of Passat Sedan in Bangalore. Passat will be available in two variants, Passat TDI 2.0 Highline DSG and  Passat TDI 2.0 Highline DSG S, priced at Rs 22.35 lakh and Rs 24.35 lakh respectively (ex-showroom Bangalore). Elite Motors will be  the first authorised dealer for Volkswagen in South India.

Sona Okegawa acquires business of German co

Sona Group company - Sona Okegawa Precision Forgings Ltd on Monday announced that it would acquire the precision forging business of Germany’s ThyssenKrupp Group.  Sona Okegawa Precision Forgings Group will have in all 6 plants : 2 in India, 3 in Germany and 1 in USA.

Spice plans Dubai,  Singapore listing

Indian conglomerate Spice plans to list on the Dubai or Singapore stock exchanges in 2010, and to raise about $100 million from an IPO of its mobile services unit in May or June, its Chief Executive said. Spice is looking to list its mobilevalue-added services firm, Cellebrum, in Bombay and Singapore, and will also list its mobile retail unit Hot Spot, by year end.

RBI cancels  Pavana Putra certificate

The Reserve Bank of India (RBI) has cancelled the certificate of registration granted to Bangalore-based Pavana Putra Financial & Investments Limited for carrying on business of a non-banking financial institution, reports UNI from Mumbai.

Under powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934, RBI can cancel the registration certificate of a non-banking financial institution. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the RBI Act, 1934, a release said.