Jaguar Land Rover posts 32% jump in India sales
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 company’s 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