Companies Archives - Page 12 of 31

EnvMin tells Lavasa: pay penalty to continue work

January 19, 2011August 20, 2014Editor

It was not an endgame after all, for Lavasa Corporation. There were some fears that the government would order the project to be shut down, which would have affected the company, other companies who had invested in the project, people who have bought homes, and investors in Lavasa’s listed parent, Hindustan Construction Company. The Ministry of Environment and Forests submitted its final order on the project, after obtaining submissions from all parties, including Lavasa, and considering the central and state level appraisal committee’s report on the project.

Axis Bank results impress; stock rises 4%

January 18, 2011August 20, 2014Editor

Axis Bank, one of India’s largest private sector banks, clocked an impressive 28% growth in net interest income to Rs 3,838 crore for the quarter ended 31 December 2010, compared to the same period last year. Its net profit grew at 36% to Rs 891 crore, on a year-on-year (y-o-y) basis, and 21% over quarter ended 30 September 2010, which is commendable.

Tulip Telecom to invest Rs 900 crore to expand data centre operations

January 18, 2011August 20, 2014Editor

Tulip Telecom, a telecom company in the enterprise side of the business, is acquiring a data centre in Bengaluru for Rs 230 crore. The company will acquire a 100% stake in SADA IT Parks Pvt Ltd, which is setting up a 9 lakh square feet data centre. Tulip’s existing four data centres cover an area of 1 lakh sq.ft, which will go up to 10 lakh sq. ft., after the acquisition.

IndusInd Bank net profit rises by 75%, stock unmoved

January 18, 2011August 20, 2014Editor

IndusInd Bank has done well in the December quarter, with its net interest income rising by 53% to Rs 363 crore, in the quarter ended December 2010, over the same period a year ago. Its net profit has risen 75%, to close at Rs 154 crore in this quarter. The bank’s year on year growth is similar to that for September 2010 quarter, when its net profit rose by 71% and net interest income rose by 58%.

TCS results to brighten IT sector outlook

January 17, 2011August 20, 2014Editor

Indian software giant Tata Consultancy Services (TCS) has logged impressive sales as well as profit growth, on the back of rising volume of work and aggressive cost management.

The company’s consolidated sales in the quarter ended 31 December 2010 rose by 4% over the previous quarter to Rs 9663 crore. This growth was higher than that of Infosys, whose sales grew by just 2.3% sequentially, and which had got affected by foreign exchange volatility.

Zydus Wellness sales rise by 21%; rising costs a threat to margins

January 17, 2011August 20, 2014Editor

Nutrition and wellness products maker Zydus Wellness has done well in the December quarter. The company sells products such as Sugar Free, an artificial sweetener, Ever Yuth, a skin cream, Nutra Lite, a low-fat butter substitute and has recently introduced ActiLife, a malt-based food drink with additives. The company’s stated objective is to become a Rs 500 crore by 2013-14, while its current annualised sales is about Rs 350 crore.

Jaiprakash Power Ventures’ net profit rises 35%

January 17, 2011August 20, 2014Editor

Jaiprakash Power Ventures (JPVL), a large private sector hydropower company reported a 52% increase in sales to Rs 181 crore, in the December 2010 quarter. Its sales slipped 36% sequentially, which should be seen in the light of the business being a seasonal one.

JPVL’s net profit is 35% up at Rs 23 crore, compared to the December 2009 quarter and one-fourth the previous quarter’s level.

Unichem profit falls 24%, stock falls 7%

January 16, 2011August 20, 2014Editor

Pharmaceutical company Unichem Laboratories reported a 14% increase in its standalone revenues to Rs 197 crore in the December quarter, over the same period last year. Its domestic business revenues rose by 12% to Rs 155 crore while its exports business revenues rose by 24%.

Its raw material costs rose at a much faster rate however, with material consumption rising by 18% to Rs 67 crore.

Starbucks and Tata Coffee brew India plan

January 16, 2011August 20, 2014Editor

Global coffee retailer Starbucks has been eyeing the growing out of home coffee market in India for years now, but players such as Café Coffee Day, Costa Coffee and Barista have been ahead in the curve. Starbucks has finally decided to take the plunge and announced a joint venture with the Tata Tea subsidiary Tata Coffee.

Godrej Properties net profit halves in December quarter

January 14, 2011August 20, 2014Editor

Godrej Properties, an emerging force in the real estate sector, has done well in the quarter ended December 2010, with sales rising 40% to Rs 48 crore, over the previous quarter, and by 39% over the same period last year.

Its profits, however, have fallen, with net profit halving to Rs 18 crore, compared to the previous quarter, but is flat when compared to the same period, a year ago.