TCS on Friday said Rajesh Gopinathan will succeed S Mahalingam as the company's chief financial officer. Mahalingam, who is also executive director, "will retire from his executive and board position on Saturday on reaching the retirement age of 65 years as per the company's policy," the company said in a BSE filing. Gopinathan will take over the position with effect from February 10.
Emami PAT grows 22% on robust domestic biz
FMCG major Emami's consolidated PAT grew 21.6% year-on-year to R115 crore for the quarter to December FY13 against a PAT of R94.50 crore during the corresponding period last fiscal. Turnover for the period grew 21.3% y-o-y to R548.65 crore against R452.36 crore during the same period year ago. Operational profit grew above 16% y-o-y to R131.44 crore and Ebitda also grew above 16% y-o-y to R137 crore.
VA Tech Wabag net rises 31% in third quarter
Water and waste management company VA Tech Wabag has posted a 30.5 % jump in its net profit to R16.92 crore for the third quarter against R12.96 crore in the same quarter last fiscal. The Chennai-based company has registered an income of R226.28 crore compared to R188.23 crore. Rajiv Mittal, managing director, VA Tech Wabag, said, BGR Energy clocks 25% drop in net to R41.44 cr BGR Energy Systems has clocked a 24.6% drop in net profit at R41.44 crore for the third quarter against R55 crore in the same quarter last fiscal. The companys revenues stood at R805 Crore compared to R804 crore in the year-ago period. The companys Ebidta stood at R111 crore compared to R127 crore due to change in input cost. The company has won the notification of award for steam turbine and generators for NTPC's Lara 2x800MW super thermal power project (STPP) in Chattisgarh. The order is valued at approximately R1,548 crore.
Uttam Galva Steels Q3 net up 8.34% at R11.95 cr
Uttam Galva Steels on Friday reported a 8.34% jump in net profit to R11.95 crore for the third quarter ended December on improved sales. The company had reported a R11.03-crore net profit in the October-December quarter last fiscal. Its net sales increased to R1,460.54 crore during the quarter under review from R1,105.31 crore in the year-ago period. The total expenditure during the October-December quarter of the fiscal increased to R1,352.48 crore from R1,018.40 in October-December quarter during the last fiscal.
Balmer Lawrie's net up 14% at R32 crore
Balmer Lawrie's net profit for the quarter to December FY13 grew 14% year-onyear to R32 crore against R28 crore during the corresponding period last fiscal. The company's profit before tax increased 12% y-o-y to R47 crore against R42 crore in the year-ago period. Net income for the three months period incresed 16% y-o-y to R646 crore from R558 crore during the same period in FY12. Net profit for the period grew 9.69% y-o-y to R113 crore and net income grew 15.84% to R1,946 crore.
Cox and Kings reports R3.33-crore net
Cox and King reported a consolidated net profit of R3.33 crore for the December quarter against a consolidated net loss of R7.56 crore for the same period last year. Total income from operations stood at R357.18 crore for the December quarter against R284.62 crore a year ago. Consolidated Ebitda margin for the December quarter is at 13% against 8% over last year.
Starbucks, Tata Coffee open roasting plant
US-based Starbucks Coffee Company and its Indian partner Tata Coffee on Friday inaugurated a roasting and packaging plant in Karnataka that will cater to the domestic as well as select overseas markets in future. "In a key partnership milestone between Starbucks Coffee Company and Tata Coffee, the two companies on Friday inaugurated a roasting and packaging plant in Kushalnagar in Coorg, Karnataka," the two firms said.
Apollo Tyres gets global recognition
Apollo Tyres was honoured with the Tire Manufacturer of the Year award at the Tire Technology International Awards for Innovation and Excellence 2013. The ceremony took place in Cologne, Germany, at the Tire Technology Expo. The jury comprised an expert panel of tyre industry professionals and leaders.
Facebook has about 50 m duplicate user accounts
Social networking site Facebook has said it is having approximately 50 million duplicate accounts, besides 22 million of misclassified and undesirable accounts. Facebook has 1.06 billion monthly active users worldwide, including 71 million in India.