Hospitality major EIH that runs hotels and resorts under Oberoi and Trident brands on Monday reported a 11.64% rise in net profit to R10.55 crore for the quarter ended June, on the back of improved sales. It had posted a net profit of R9.45 crore for the corresponding period previous fiscal, EIH said. Total income stood at R271.16 crore for the quarter under consideration, against R246.03 crore for the same period year ago.

GTL Infrastructure net loss widens to R88.87 cr

GTL Infrastructure reported a wider net loss at R88.87 crore for the quarter ended June, from a net loss of R85.16 crore in the corresponding period last year. The company?s revenue rose 1% to R141.37 crore from R139.85 crore in the year-ago period. On a quarter-on-quarter basis, the company?s net loss narrowed as the preceding quarter included high depreciation. The company, which builds and operates telecom towers, is operational in all 23 circles.

Firstsource Solutions net at Rs 42 crore

Firstsource Solutions posted a net profit of R41 crore for the quarter ended June, against R29 crore in the corresponding quarter last year. The company?s total income from operations stood at R719 crore, against R675 crore in the same quarter last year. Firstsource Solutions stock closed 4.04% up to R11.6 on the BSE on Monday.

RCF Q1 net profit falls 30% to R4.48 crore

State-run Rashtriya Chemicals and Fertilisers (RCF) on Monday reported 31.28% decline in net profit to R4.48 crore in the first quarter ended June due to lower income and increase in finance cost. The company had clocked a net profit of R6.52 crore in the same quarter a year ago. Total income decreased by three per cent to R1,455.24 crore during the April-June period of this fiscal from R1,502.51 crore in the same period last year, the company said.

Tech Mahindra inks 5-year deal with BASE

BASE company and Tech Mahindra have signed a five-year managed service agreement for the operations and roll out of the BASE network in Belgium. The managed service partner is responsible for both network and IT. Tech Mahindra will be responsible for amongst others mobile site upgrades, maintenance, incident handling, site construction and data centre maintenance. BASE company will retain ownership of the network and of the strategic network planning and development.

TCS bags Australian Pharma Industries? deal

IT services firm Tata Consultancy Services (TCS) has been selected by Australian Pharmaceutical Industries (API) to unify the firm?s IT systems across retail and wholesale operations. The beauty and health retail firm?s services include wholesale product delivery, retail services, marketing programmes and business advisory services.?After a series of mergers and acquisitions and fast-paced business growth, API needed to update and replace many of its key IT systems,? TCS said.

BMW India effects up to 5% price hike from Aug 15

BMW Group India on Monday announced a price increase of up to 5% for the BMW and Mini product ranges, effective August 15, 2013. BMW Group India president Philipp von Sahr said, ?We are making price decisions with all due care and consideration ensuring that they pay off in the long run.?

JSPL forays into retail product segment

Jindal Steel and Power (JSPL) on Monday forayed into the retail product segment by launching a new retail brand named ?Jindal Panther?. The company will be selling TMT rebars used for construction purposes under the new brand. The demand for TMT bars in the country is nearly 23 million tonnes. The company would market its retail products through 40 distributors and 1,000 dealers spread across 671 districts in the country.

Sanofi, Suzlon in pact for windmill installation

Sanofi India has signed an agreement with wind turbine manufacturer, Suzlon Energy (SEL), for a 2.1 MW offsite windmill installation, to generate renewable power for captive consumption at its Ankleshwar manufacturing site. Sanofi has been exploring the use of renewable energy sources for its manufacturing operations. In 2012, Sanofi?s Goa manufacturing site started using biomass from agro waste to generate energy.

Rourkela Steel Plant records best-ever performance

The Rourkela Steel Plant (RSP), a unit of SAIL, recorded best-ever April-July production performance in key areas in the fiscal 2013-14. According to a spokesperson, in the April-July 2013 period the steel plant produced 7,79,842 tonnes of hot metal, 7,32,901 tonnes of crude steel and 7,13,080 tonnes of saleable steel, thereby scripting its best-ever performance in these three vital areas for any April-July.