Mcleod Russel Q3 net rises to R123.15 crore
McLeod Russel, the largest tea producer in the world, posted a 5% growth in net profit to R123.15 crore for the quarter ending December, from R117.11 crore last fiscal. Total income of the firm during the quarter under review increased by 10.5% to R457 crore from R413.37 crore a year ago.
Aban Offshore pares loss to R11.7 crore
Aban Offshore has posted a loss of R11.7 crore for the third quarter as against a loss of R54.5 crore in the same quarter last fiscal. The company’s total income stood at R210 crore as compared to R174 crore, said a company filing with stock exchanges.
Tata Coffee Q3 net up 54% to R29.20 crore
Tata Coffee said its standalone net profit rose 54% to R29.20 crore during its third quarter ended December 31. Its net profit stood at R18.99 crore in the year-ago period. The company's total income rose by 23% to R152.12 crore during the third quarter. "The company's operations have registered an impressive growth during the current quarter. The instant coffee sales were at a higher unit realisation," Tata Coffee said.
Tata Projects JV bags R3,300-crore project
A joint venture of Tata Projects and Spanish firm Aldesa has been selected by the Dedicated Freight Corridor Corporation for the construction of 343-km-long double track line between Kanpur and Khurja, part of 1,839-km-long eastern corridor, for R3,300 crore. Work on the project is expected to be completed by 2016.
IVRCL bags orders worth R378 crore in 3 states
infrastructure company IVRCL has bagged orders worth R378.36 crore spread over three states. The contracts have been awarded to the company's water division (R360.75 crore) and Transport Division (R17.61 crore, IVRCL said in a statement here. The works include a R205.86-crore pipeline project from Hyderabad Metropolitan Water Supply and Sewerage Board to be completed in 14 months.
Ceat signs JV with Bangla co for setting up tyre unit
Ceat, an RPG Enterprise company, has entered into a joint venture with Bangladesh-based A K Khan & Company to set up a tyre manufacturing facility in Bangladesh. Under the JV, Ceat will hold a 70% shareholding and A K Khan & Company will hold 30%. An investment of $ 67 million or around R358.45 crore will be made for a capacity of 110 metric tonnes per day in phases.
Telenor wants 50% cut in Mumbai licence fee
Norway's Telenor is unlikely to bid in