ITC, TVS arm ink JV for biopolymer paper
TVS Group company Harita NTI (HNTI) along with its joint venture partner US-based Northern Technologies International Corporation (NTIC) have announced that they have signed a MoU with ITC to jointly develop and commercialise biopolymer paper products for consumer goods packaging market in India. Both companies will also collaboratively develop and promote joint branding and messaging for these products.
Insecticides India FY11 net profit rises 14%
Insecticides India posted a 20 % rise in revenues and a 14 % jump in net profit for the FY 2010-11, over the previous year. While the company saw its net profit touching R3,221 lakh for FY2010-11, against R2,821 lakh during, its net sales increased by nearly 20% to R47,790 lakh in the FY11.
Punj Lloyd logs net profit of R17.65 crore
Engineering and construction firm Punj Llyod reported Q4 net profit of R17.65 crore compared with a loss of R300.87 crore. The companyís net sales rise to R21,92.14 crore vs R1,700 crore. The company's total income rose by 30.89% to R2,326 crore during the quarter vis-a-vis the corresponding period of the previous year.
SKNL sees improved margins on lower costs
Textiles firm S Kumars Nationwide expects operating margins to improve by 200 bps this fiscal on lower cotton prices and growth in its international businesses. It expects revenue to grow 25-30% in the current financial year ending March 2012 led by expansion in its domestic market.
Nirma Q4 posts loss of R23.74 crore
Nirma reported a standalone loss of R23.74 crore for the quarter ended March 31. The company had posted a standalone net profit of R25.99 crore in the same quarter last year. The firm's standalone net sales stood at R840.91 crore, a 9% increase from R773.09 crore in the year-ago period. For the full year 2010-11, Nirma posted a net profit of R74.04 crore, a 69% decline from last year.
VA Tech Wabag profit increases 35%
Chennai-headquartered VA Tech Wabag, leading player in water and waste water management has posted a 35% rise in its net profit at R55.3 crore for the financial year compared with R41 crore.
Take Solutions FY11 PAT up at R70 cr
IT supply chain management company Take Solutions has made a net profit of R70 crore for the whole year ending March 31, 2011 against the net profit of R32.4 crore it logged the previous fiscal. The company has posted