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Saturday, 29 May 2010 05:56
LACS to invest Rs 100 cr in next two years
Bangalore-based Devraj Group firm Lakshmi Access Communications Systems today said it will invest around Rs 100 crore in the next two years on research, product development and marketing activities. The company, which forayed into wireless media services in March this year, said it plans to sell around 10 lakh units of its first product ''Magnum'', a touchscreen media device, by the end of this fiscal.
"We are pumping in around Rs 100 crore on our research and development, product development and other marketing activities," Lakshmi Access Communications Systems (LACS) Chief Executive Officer Mahendraa Kumar D Jain said. He said LACS plans to introduce ''Magnum'' in the North Indian states this month following its launch in South India in March, this year.
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Business News
Wednesday, 21 April 2010 09:14
Great Offshore Q4 net up 2.38 pc to Rs 73.05 cr
Integrated offshore oilfield services provider Great Offshore on Tuesday reported a marginal growth of 2.38 per cent in net profit to Rs 73.05 crore for the fourth quarter ended March, 2010.
The company had a net profit of Rs 71.35 crore in the same period of the previous fiscal.
Total income of the company rose to Rs 278.52 crore for the March quarter, as compared to Rs 269.65 crore for the same period of the corresponding fiscal, Great Offshore said in a filing to the Bombay Stock Exchange (BSE).
For the year ended March, 2010, the company posted a net profit of Rs 176.18 crore, compared to Rs 211.10 crore in the last fiscal.
Shares of Great Offshore today closed at Rs 418.55 on the BSE, up 1.42 per cent from its previous close.
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Share Markets
Wednesday, 21 April 2010 09:13
Axis Bank to continue to outperform peers in FY11
India's third-largest private bank Axis Bank has again demonstrated its ability to grow at a faster pace than the industry, something which its investors have now become accustomed to.
During the fourth quarter, the bank reported a growth of 28% in its loan book, significantly higher than the rate of 17% clocked by the industry, after loan growth had slipped to 12.5% in the quarter-to-December ’09.
Throughout the first nine months of FY10, the bank’s loan growth kept on sliding. There was a sharp turnaround in the March ’10 quarter, as net accretion to the bank’s loan book was Rs 19,573 crore, compared to just Rs 3,726 crore in the previous quarter. The unprecedented growth was on account of a higher pick-up in demand for loans and one-off factors such as an increase in limit utilisation by a few corporates.
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Share Markets
Wednesday, 21 April 2010 09:12
GTL Q4 net rises 27% to Rs 44 cr
Network services provider GTL has posted a 27% growth in quarterly net profit in the March quarter, helped by a robust growth in revenues from international operations and forex gain. It reported Rs 44-crore net profit in the March quarter. Revenues, during the period, grew by 10% to Rs 625 crore.
The company’s board has proposed a dividend of Rs 3 per share for FY10.
GTL, whose clients include Ericsson, Nokia Siemens Networks and Alcatel Lucent, earned Rs 214-crore revenues from international sales. This is up 34% over the same quarter of FY09. Its income from other operations due to forex gains improved 170% to Rs 28 crore, according to a company statement.
For FY10, GTL’s net profit was up 50% to Rs 206 crore. Consolidated revenues, including those from the Middle East, Africa, Europe and North America, were Rs 2,237 crore, a growth of 15% over FY09. The company has presence in 46 countries. It has an orderbook of Rs 4,223 crore, of which projects worth Rs 3,378 crore will be executed in India.
The total manpower of GTL increased to 7,066 as on March 31, 2010, against 5,942 in the corresponding year-ago period.
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Share Markets
Wednesday, 21 April 2010 08:50
HCL Technologies Q3 net up 72% at Rs 262.57 cr
Software outsourcing firm HCL Technologies on Wednesday said its net profit rose 72 per cent at Rs 262.57 crore for the third quarter ended March 31, over the same period last year.
The total income of the company rose to Rs 1,287.11 crore for the quarter ended March 31, from Rs 1,048.90 crore in the same quarter previous fiscal as per the Indian accounting standards, HCL Technologies said in a filing to the Bombay Stock Exchange.
The board has proposed an interim dividend of Rs 1 per share on the face value of Rs 2 per share to the shareholders.
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Share Markets
Wednesday, 21 April 2010 08:45
RIIL Q4 net profit dips 15 pc
Mukesh Ambani Group firm Reliance Industrial Infrastructure on Wednesday said its net profit declined by 15.78 per cent at Rs 5.44 crore for the fourth quarter ended March 31, over the same period last year.
Income from operations declined to Rs 10.60 crore for the quarter ended March 31, from Rs 18.28 crore in the same quarter previous fiscal, Reliance Industrial Infrastructure Ltd (RIIL) said in a filing to the Bombay Stock Exchange.
The board of directors have proposed a dividend of Rs 3.50 per share on the face value of Rs 10 per share to the shareholders.
Shares of Reliance Industrial Infrastructure Ltd were trading at Rs 853.50 on the BSE, up 0.62 from previous close.
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Share Markets