Suzlon predicts flat wind turbine mkt in 2013

Adani Ports and Special Economic Zone's promoters will divest a significant stake in entities controlling the Abbot Point Coal Terminal in Queensland, Australia, to the Adani family, subject to approvals, at a price determined by an independent valuer. The move is aimed at focusing on the high-growth Indian ports and logistics sector and maintaining its leadership position in India, the company said. The company on Monday also said Q3 profit rose 34% to R415 crore for the quarter ended December, against R311 crore in the corresponding quarter previous year. Total income rose 32% to R927 crore, from R701 crore last year.

Whirlpool of India posts 52.8% drop in net

Whirlpool of India, a subsidiary of consumer durables maker Whirlpool Corporation, reported 52.8% fall in net profit for the quarter ended December at R10.07 crore, from R21.17 crore in the corresponding period previous year. However, the net income rose marginally to R618.70 crore from R617.37 crore last year. The company said festival demand, a significant contributor to top-line in this quarter, was the weakest in recent history.

Tata Teleservices net loss widens to R197 crore

Tata Teleservices Maharashtra (TTML) posted a wider net loss of R197 crore in the third quarter ended December, compared with R183.7 crore in the previous quarter. Total income from operations rose marginally to R651 crore during the period. The company said it made an additional provision of about R72 crore primarily towards outstanding claims and litigations, during the quarter.

Persistent Systems

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