Jindal Stainless net loss widened to R257.39 crore in its third quarter ended December 2012, from R110.33 crore in the same period of the previous fiscal, due to squeezed margins and higher interest payments. Its total income, however, rose by over 35% to R2,584.27 crore during the quarter vis-a-vis R1,910.06 crore in the October-December period of 2011-12, the company said in a filing to the BSE.
HIL surpasses Euro 2012 coverage in two weeks
The first Hockey India League (HIL) has witnessed unprecedented media coverage with ESPN STAR Sports on Tuesday announcing that more than 2.27 crore people have seen the broadcast in the first two weeks, which is way ahead of reach garnered by UEFA Euro 2012 in India. According to the broadcasters, full tournament reach of UEFA Euro was 2.07 crore. HIL at the end of second week has also beated the reach of Mens Hockey Champions Trophy (58 lakhs) by almost four times.
Tata Consulting Engineers acquires Ecofirst Services
Tata Consulting Engineers, a subsidiary of Tata Sons, on Tuesday said it has acquired Ecofirst Services, a joint venture between Milestone Capital advisors and J Leon Group, for an undisclosed amount. With the acquisition, Ecofirst becomes a 100% subsidiary of Tata Consulting Engineers (TCE), the company said in a statement.
BHEL wins R2,854-crore contract from Bihar
BHEL on Tuesday said it has bagged a R2,854 crore contract for setting up a 1,980-MW thermal power project in Bihar. BHEL has bagged a contract for supply of the Steam Generator Package for three coal-fired thermal units of 660 MW each. Valued at R2,854 crore, the order has been placed on BHEL by Nabinagar Power Generation Company, the company said in a statement.
Carborundum Universal Q3 profit down 83%
Carborundum Universal, part of the Murugappa Group, has reported a 83% decline in its net profit for the quarter ended December to R8 crore compared with R47 crore during the same quarter of last fiscal. The sharp decline in electro minerals business hit the topline too with a decline of 9.5% to R444 crore against R490 crore in the FY12 Q3.
Wheels India Q3 net down to R9 crore
Wheels India, leading wheels manufacturer, has reported a marginal drop in its net profit for the quarter ended December to R9 crore compared with R9.13 crore reported during the same quarter of last fiscal. The total income declined sharply to R441 crore compared with R533 crore reported in the corresponding quarter of previous year.
JK Tyres Kankroli plant awarded ISO certification
JK Tyres Kankroli plant near Udaipur has become the first tyre manufacturing facility in Asia and the second in the world to be awarded the ISO 50001 energy management system certification by British Standard Institution. The performance was reviewed by Japan Accreditation Board, which found that the system is well implemented and yielding results. Individual organisations cannot control energy prices, government policies or the global economy, but they can improve the way they manage energy. Improved energy performance can provide rapid benefits, the company said.