New Delhi: M P Birla Group firm Birla Corporation on Friday reported 52 per cent rise in March quarter consolidated net profit at Rs 194.73 crore, helped by lower fuel costs and improvement in efficiency and cost rationalisation. It had posted a net profit of Rs 128.19 crore in January-March 2018-19, Birla Corporation said in a BSE filing. However, revenue from operation was down 9.76 per cent to Rs 1,689.97 crore during the quarter under review as against Rs 1,872.76 crore earlier. €œThe company reported higher profits during March quarter with EBITDA for the quarter being higher by 11.7 per cent over the previous year at Rs 373 crore, despite loss of volumes since March 22 due to the situation arising out of COVID-19," the company said in a post earnings statement. €œDuring March quarter, the company reaped the benefits of lower fuel costs and its sustained investments into improving efficiency and cost rationalisation," it added. The company's subsidiary … [Read more...] about Birla Corporation Q4 results: Net profit jumps 52% to Rs 195 crore
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Reversing their selling trend, foreign investors have infused over Rs 9,000 crore into the Indian equity markets in May so far amid attractive valuations of stocks and a mega block deal involving HUL.Experts believe foreign portfolio investors (FPIs) will keep a close watch on how India manages to keep Covid-19 cases under check with relaxations in lockdown curbs, and how quickly it revives growth.The inflow comes following a net withdrawal of Rs 6,883 crore in April and Rs 61,973 crore in March on fears of a coronavirus-induced global recession.Prior to that, foreign portfolio investors (FPIs) had put in over Rs 1,820crore in February.According to depositories data, FPIs invested a net sum of Rs 9,089 crore in the equity markets during May 1-22.However, they pulled out a net Rs 21,418 crore from the debt markets during the period under review.ALSO READ: AIIB, central bank among 16 China-based entities registered as FPI in India"FPIs are selectively positive on only few Indian equities … [Read more...] about After rush to exit India in March & Apr, FPIs invest Rs 9k cr in May so far
I couldn’t agree more with David Brooks’ excellent piece. Providing employment to additional tens of thousands of young people through programs like AmeriCorps would be a great benefit to them, the communities they could serve and, yes, our national security. … [Read more...] about Letters: Thanks for a daily newspaper (5/16/20)
"We had a discussion with the Civil Aviation Minister (Hardeep Singh Puri) today and are still deciding on what precautions and preparations we have to undertake and what the Centre is doing. We are contemplating and we will decide soon," Thackeray said during his address to the state. … [Read more...] about Maharashtra allows 25 takeoffs, as many landings daily of domestic flights from Mumbai
In recent times, Chinese companies have been trying to influence not only the production chains but also the value and supply chains to stand out in the global market, and be at the top of the food chain. Any acquisition by the foreign player in India has strategic influence. The M&A in the technology-related services sector would offer the investor global prospects, and, in the productions, it will provide them a plum domestic market to expand. … [Read more...] about China’s M&A diplomacy: Endgame or endless game?