Net profit of Essar Shipping Ports & Logistics rose 129.94% to Rs 4.07 crore in the quarter ended December 2010 as against Rs 1.77 crore during the previous quarter ended December 2009. Sales declined 11.72% to Rs 252.09 crore in the quarter ended December 2010 as against Rs 285.57 crore during the previous quarter ended December 2009.
Net profit of Vardhman Textiles rose 183.68% to Rs 135.57 crore in the quarter ended December 2010 as against Rs 47.79 crore during the previous quarter ended December 2009. Sales rose 42.50% to Rs 996.38 crore in the quarter ended December 2010 as against Rs 699.21 crore during the previous quarter ended December 2009.
Drug major Wockhardt had net profit of Rs 141.7 crore for the quarter ended December. It had a net loss of Rs 181.2 crore for the corresponding quarter of the previous financial year, due to mark to market losses (writing down securities to current value) and financial turmoil in global markets.
Net profit of SMC Global Securities rose 292.42% to Rs 2.59 crore in the quarter ended December 2010 as against Rs 0.66 crore during the previous quarter ended December 2009. Sales rose 7.26% to Rs 55.52 crore in the quarter ended December 2010 as against Rs 51.76 crore during the previous quarter ended December 2009.
Hindustan Construction Company Ltd. (HCC), India's leading infrastructure construction and development company has been awarded a Rs 345.30 crore worth engineering, procurement and construction (EPC) contract by Sardar Sarovar Narmada Nigam Ltd. (SSNNL), a Government of Gujarat undertaking. The project entails construction of a 57 kms of Kutch branch canal (package II) in Gujarat.
British oil giant BP Plc intends to sell its giant Texas city sprawling 1,200-acre plant, where 15 people died in a 2005 explosion that became symbolic of safety deficiencies in its culture. The company announced plans to sell the two refineries as part of a strategy to cut its US refining capacity in half and focus more on oil and gas exploration.
Australia's Whitehaven Coal expects to receive non-binding offers from Chinese, Indian and Korean parties but several potential suitors have dropped out of the process as bidders raise concern about price.
The government today said India's textiles industry, employing over 90 mn people, is likely to triple and touch $220 bn by 2020.
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