Quick view : India Inc?s FY13 net likely to rise 30%, says study

India Inc?s FY13 net likely to rise 30%, says study

The net profit of India Inc is expected to rise 30.6% this fiscal, according to economic think-tank CMIE. ?We expect corporate India to show an improvement in profit performance in FY13. Net profits are expected to grow 30.6% after falling 6.6% in FY12,? the Centre for Monitoring India Economy (CMIE) said in a report. The PAT margin is expected to expand 1% at 7.1%, the report said, attributing the projected growth to fall in input prices, inflation and softer interest regime. The CMIE forecasts international prices of raw materials, such as crude, natural gas, edible oils and coking coal, to fall in FY13. ?This will restrict the rise in raw material expenses of the manufacturing sector to 8.2%, much lower than the sales growth of 10.1% projected for the year.? The softening of interest rates is expected to augur well for the manufacturing sector, the report said, adding, ?we expect net profits to grow by a robust 51.4% in 2012-13, against a 25.4% fall estimated for the last fiscal.? The non-financial sector, too, is expected to reap the benefit of a projected softer interest rate regime as its profit could grow 11.2% in the current fiscal.

Cairn?s Rajasthan block may have India?s highest reserve

Cairn India?s Rajasthan block is now estimated to hold a record 7.3 billion barrels of oil reserves that can produce 15 million tonne of oil, the highest by any field in India, the company said. The crown-jewel Rajasthan block is now estimated to hold discovered and yet-to-be-discovered reserves of 7.3 billion barrels of oil equivalent, an increase of 12% over previous estimate, the company said in its fourth quarter earnings announcement.

MTS India adds 4.19 lakh new customers in March

Sistema Shyam Teleservices (SSTL), that operates under brand name MTS India, has added over 4.19 lakh new customers in March. ?MTS added 4,19,480, customers in the month of March 2012, taking its total customer base to 15,849,698,? SSTL said in a statement. The company has been adding new customers despite the Supreme Court cancelling its 21 licences in February. In that month, SSTL added 2,32,557 customers.

JSPL lines up R10,000 cr for capex in 2012-13

Naveen Jindal-led JSPL will invest over R10,000 crore in 2012-13 to part-fund its R2-lakh-crore capex plan that aims to ramp up its steel-making capacity to 18 million tonne in five years. ?We will be spending more than R10,000 crore in FY13 to part-finance the ongoing expansions in our company. We had invested around the same amount last fiscal,? said JSPL deputy managing director and CEO (steel business) VR Sharma.

Pepsi initiative to bring Chelsea star to India

In a bid to popularise football in the country, Cola giant Pepsi plans to bring a top English Premier League player to the country in June. Star international footballers from the English football club Chelsea Didier Drogba, Frank Lampard and Fernando Torres will feature in a soon-to-be-aired Pepsi ‘Change the Game’ advertisement, along with Indian cricket team skipper Mahendra Singh Dhoni, Suresh Raina, Virat Kohli and Harbhajan Singh.

AC Nielsen shortlisted for govt brand campaign

The electronics and IT department has selected research agency AC Nielsen ORG Marg for a study on brand building initiative to promote India as a preferred investment destination for the sector, sources said. AC Nielsen ORG Marg will be assigned Communications Need Assessment Study, sources at Department of Electronics and Information Technology (Deity) said. The department had received Expression of Interest from 11 firms, but issued request for proposal to nine agencies, including AC Nielsen.

Wind energy VC funding off to a breezy start

The global venture capital funding in the wind energy sector has got off to a strong start with deals worth $240 million for 12 deals in the first quarter of this calender year. According to Mercom Capital Group, a global clean energy communications and consulting firm, venture capital funding in the first quarter stood at $240 million through 12 deals, compared to just $12 million for two deals in fourth quarter of last calendar year.

Luxury player S Raheja to enter mid-income housing

To cash in on the growing need for mass-housing, luxury home developer S Raheja Realty has decided to enter the mid-income segment by launching a residential project at Palghar, near neighbouring Thane. ?At present, there is tremendous scope for developing mid-income housing. We plan to enter this segment in a big way,” said the company?s managing director Ram Raheja.