Tata Motors-owned Jaguar Land Rover on Thursday reported 32% increase in sales at 2,393 units in 2012. The company had sold 1,813 cars in 2011, JLR said in a statement. Despite difficult economic circumstances and a general slowdown in the Indian car market, we have continued to grow our sales, Jaguar Land Rover India VP Rohit Suri said. The coming year will see the introduction of further new and refreshed products and the company is confident of increasing its share of the Indian luxury car market, he added.
Infotech posts 82% rise in net to Rs.61.82 crore
Infotech Enterprises has posted a 82% increase in its profit at R61.82 crore, up from R33.96 crore it reported for the corresponding quarter last year. Revenues grew by 14% to R475 crore against R416.52 crore for the corresponding quarter last year. The company has paid an interim dividend of 40%. The company had a stable Q3 in spite of challenges in Europe and also maintained small revenue growth and robust margins, BVR Mohan Reddy, CMD, said in a statement.
Fuel shortages to haunt power cos: India Ratings
The power sector continues to face high fuel risks despite Coal India agreeing on a higher penalty in the event of shortfall in committed coal supply to generating stations, a credit rating agency said on Wednesday. According to the credit rating agency, India Ratings, CIL will have to raise its production from 312 million tonnes (mt) in 2012 to 436 mt in 2014-15 to be able to meet fuel requirement of the sector. That would entail achieving 12% compounded annual growth rate (CAGR) which seems to be a tall order given that the companys production grew at 3.8% during the previous five-year plan period.
Perfint raises $11 million from NVP, enters China
Medical technology company Perfint Healthcare on Thursday announced is has raised $11 million from Norwest Venture Partners (NVP), a leading global venture and growth equity investment firm and an existing investor, in its series D funding. Perfint will use the new capital for commercialisation of Maxio, the recently launched integrated visualisation, planning and robotic targeting system for CT guided tumor ablations, new product development in ultrasound-guided procedures and tissue characterisation, growth in the US, China and Japan markets where regulatory approvals are awaited and set-up and expansion of its advanced technology labs in the US, said S Nandakumar, co-founder and CEO of Perfint.
RINLs sales dip 17% in Apr-Dec; SAILs fall 2.7%
Sales of state-run steel makers SAIL and RINL dipped by 2.71% and 17%, respectively, in the April-December period of the current fiscal despite a 3.9% rise in Indias steel consumption during the period. Steel Authority of Indias (SAIL) sales decreased by 2.71% during the period to 76.03 lakh tonnes against 78.15 lakh tonnes a year ago, a data complied by the steel ministry has revealed.
MTNL launches video telephony service
Telecom minister Kapil Sibal on Thursday asked DoT secretary R Chandrashekhar to examine the possibility of extending MTNLs new video telephony service to mobile phones even as he said Internet telephony will not happen immediately. I requested Secretary (R Chandrashekhar) just now, connect it (MTNL video telephony service) to mobile phones, Sibal said while launching MTNLs video telephony service which is based on broadband technology.
84% B-school students want career in consulting
As many as 84% of the business college graduates want to pursue a career in consulting according to a survey released by Indias largest software exporter Tata Consultancy Services in collaboration with the Association of Management Consulting Firms (AMCF). The online survey, carried out during November-December 2012, was completed by 979 students from Indias top 10 B-schools. Every 8 out of 10 surveyed students would like to take up consulting as a career. About 63% of the surveyed women wanted a career in consulting, it said.