Coal India profit rises 22%
Posted on 14th August 2019 |
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| Coal India has posted a net profit of Rs 4,629.87 crore for the June quarter, a growth of 22.27 per cent, on the back of better realisation even as production and offtake volumes remained almost constant on an annual basis. Revenue from operations during the quarter was Rs 24,938.99 crore compared with Rs 24,070.80 crore, a growth of 3.6 per cent. The average realisation for the public sector miner during the quarter was Rs 1,515.5 per tonne against Rs 1,476 per tonne in the corresponding quarter previous year. Coal India’s offtake during the quarter was 153.49 million tonnes against 153.47mt in the year ago period. The public sector miner offered higher quantity of washed coal during the quarter at 3.05mt compared to 2.55mt in previous year where average realisation per ton is more. Production during the quarter was 136.94mt compared to 136.85mt in the corresponding quarter previous year. Total expenses during the quarter at Rs 19,077.44 crore also was lowered compared with Rs 19,272.43 crore in the corresponding quarter previous year. This aided to the growth in bottomline. Coal India plans to ramp up its production by 8.75 per cent in the current fiscal over 2018-19 when it produced 606.88mt. The aspirational production and offtake target is set at 660mt in 2019-20. A capital expenditure of Rs 10,000 crore has been set for the fiscal to support the growth. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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