Iran’s Foreign Minister Mohammad Javad Zarif met External Affairs Minister Sushma Swaraj on Tuesday in New Delhi to discuss bilateral issues, including the fallout of the US decision last month to discontinue the sanction waivers given to eight countries, including India, for continued purchase of oil from the country. Zarif, who reiterated that India was […]
Category: Business Line
Business Line
Mangalore Refinery and Petrochemicals Q4 net profit at Rs 318.87 crore
Mangalore Refinery and Petrochemicals Ltd (MRPL) recorded a net profit of ₹318.87 crore in the fourth quarter of 2018-19 as against a profit of ₹542.08 crore in the corresponding period of the previous fiscal, registering a decline of 41.17 per cent. The gross refining margin GRM of the company stood at $5.01 a barrel ($7.87 […]
Great Eastern Energy Corp net rises 57% in FY19 at $ 9.93 mn
London-listed coal-bed methane (CBM) producer Great Eastern Energy Corp (GEECL) on Tuesday reported a 57 per cent rise in FY19 net profit at $ 9.93 million on the back of higher sales. GEECL had posted a net profit of $ 6.32 million in the previous fiscal, the company said in a statement here. Sales rose […]
PTC India Q4 net down 20%, Board recommends 40% dividend
PTC India has reported a ₹ 53.86 crore net profit for the fourth quarter of financial year 2018-2019. This is 19.5 per cent lower than the ₹ 64.37 crore bottom line reported in the same quarter of the financial year 2017-2018. “We have got a dividend of just ₹ 8 crore during the financial year […]
PTC India Q4 profit down 16% at Rs 54 cr
PTC India on Tuesday reported 16.32 per cent drop in standalone net profit at Rs 53.86 crore for the quarter ended March 31, 2019, mainly due to lower dividend from its subsidiaries. The profit in the year-ago quarter stood at Rs 64.37 crore, as per a BSE filing. A company official said PTC India got […]
NTPC picks greener tech for 660MW unit in MP
With the aim of reducing emissions, power behemoth NTPC will for the first time commission a 660 MW unit based on ultra-supercritical technology by June. The ultra-supercritical technology burns coal at a much higher efficiency. Across the country, most of the power plants are based on sub-critical technology, which has a 38 per cent thermal […]
Airlines focussing on India are now doing a ‘class’ act
In this era of intense competition, international carriers are going all out to woo more flyers from India. The latest measure that some airlines are trying out is reconfiguring their aircraft to provide more seats in the premium economy cabin on their flights to and from India. After Singapore Airlines, Lufthansa and British Airways, Virgin […]
Jet Airways shares continue to fall; plummet over 7%
Shares of Jet Airways on Tuesday plunged over 7 per cent, its second day of decline, after the company’s deputy chief executive officer and chief financial officer (CFO) Amit Agarwal resigned. The scrip tanked 7.42 per cent to close at Rs 129.10 on the BSE. During the day, it plunged 12.44 per cent to Rs […]
Do not cancel passes of Jet airport staff: RLC to Civil Aviation Ministry
The Regional Labour Commissioner (RLC) has advised the Civil Aviation Ministry and the Bureau of Civil Aviation Security to not cancel any airport passes of Jet Airways’ employees. On the basis of a complaint filed by Bhartiya Kamgar Sena, a Shiva Sena-affiliated union, the RLC had called a meeting on Monday. While no representatives from […]
Jet terminates 50 employees at international destinations
Jet Airways has terminated over 50 local and Indian employees in South East Asia, West Asia, Europe and UK. Mohammad Mansoor, Customer Service Executive, Doha region, said, “We are 10 permanent and contractual employees in the Doha region and all of us including the country manager got the termination letter. All our reservations and sales […]
Jet CEO, other executives quit; wobbling airline seems set to crash-land at NCLT
Top executives of Jet Airways including its Chief Executive Officer have resigned from the company in an indication that the airline may be heading towards insolvency proceedings. CEO Vinay Dube; CFO Amit Agarwal; Company Secretary and Compliance Officer Kuldeep Sharma; and Chief People Officer Rajhul Taneja have quit the company, citing personal reasons. This comes […]
Oil prices edge up; US-China trade tensions cap gains
Oil prices inched higher on Tuesday, though gains were checked amid an escalation in the trade war between the United States (US) and China. Brent crude futures were at $70.27 a barrel at 0104 GMT, up six cents, or 0.1 per cent, from their last close. Brent ended the previous session down 0.6 per cent. […]