IndiGo reported 56% rise in net profit at Rs 7.62 billion for the quarter ended December 2017 as against Rs 4.87 billion in the year-ago period. Revenue from operations increased 24% at Rs 61.78 billion as compared to Rs 49.86 billion in December 2016. Total debt stood at Rs 24.33 billion as on December 31. […]
Month: January 2018
Cap the airfare
The Standing Committee of Parliament attached to the ministry of transport and tourism has taken cognizance of arbitrary airfare hikes by airlines during festival seasons and recommended to the government to cap the airfares.
Power Finance Corp gives Rs 1,351 cr financial aid to Bihar Grid Company
State-run Power Finance Corp(PFC) today said it has sanctioned a financial assistance of Rs 1,350.69 crore to Bihar Grid Company for a transmission line project. Bihar Grid Company Ltd (BGCL) is a joint venture of Power Grid Corporation of India and Bihar State Power (Holding) Co Ltd. The amount has been sanctioned for construction of […]
India’s first civil plane Saras takes to the skies after nearly a decade
A prototype of Saras, India’s first civil aeroplane, flew on Wednesday for nearly 40 minutes over the Bengaluru skies for the first time in nearly a decade, kindling hopes of the revival of a homegrown civil aircraft programme in the country. The Saras (PT-1N) plane was piloted by Wg Cdr B Panicker and U P […]
Govt looking at license renewal mechanism for discoms: Power minister
The government plans to introduce a license renewal mechanism for electricity distribution companies to keep a check on the power supply capabilities of the utilities, Power minister R K Singh said on Wednesday. The proposal is likely to be part of the Electricity Act amendment bill likely to be tabled in Parliament in ensuing budget […]
Flying High
The Indian airlines are likely to induct more than 900 aircraft in the coming years. Maximum number of planes will be added by IndoGo followed by SpiceJet. With an existing fleet of 150 planes
GoAir Republic Day sale: Get flight tickets for as low as Rs 726
Budget carrier GoAir has announced the Republic Day sale offer under which it is offering all-inclusive discounted fares, starting as low as Rs 726. Under the 5-day Republic Day offer, starting mid-night yesterday, you can book tickets between March 1 and December 31, 2018. The Wadia Group-promoted airline and currently operates over 1544 flights per […]
Essar Oilfields bags Rs 32 crore well drilling contract from ONGC
Essar Oilfields Services India Ltd (EOSIL) on Wednesday said it has been awarded a contract worth Rs 32 crore by ONGC to drill 30 wells at the latter’s coal bed methane block in Bokaro in Jharkhand for one year. Work is likely to commence in the next few weeks, EOSIL said in a statement. “With […]
Editorial-February 2018
In its policy evaluations on solar, MNRE had noted that the absence of assured business is creating obsolescence of existing capacities, a preponderance of downstream products (modules), an absence of the upstream chain in manufacturing in India. Stiff competition from Chinese imports, have bled domestic units and DCR has been edged out of private developer […]
Vedanta, Torrent, Neyveli join race to acquire GMR plant
Anil Agarwal’s Vedanta group, Torrent Power and state run Neyveli Lignite Corp have joined the race for acquiring a controlling stake in GMR Energy’s 1,370MW plant in Chhattisgarh. In all, five companies including Adani Power and JSW Energy have put in final bids for the project, industry sources said. Resurgent Power, backed by Tata Group, […]
NCLT grants 90-day lifeline to Nagarjuna Oil Corp for insolvency resolution
Nagarjuna Oil Corporation Ltd (NOCL) has received an extension of another 90 days for its Corporate Insolvency Resolution Process (CIRP), even as public sector and private investors get set to bid for control of the company. The National Company Law Tribunal (NCLT) approved the extension, as the process could not be completed within the stipulated […]
Power producers still evaluating Coal India’s new pricing policy
Power producers are still evaluating Coal India’s claim that its new pricing policy will bring down fuel costs for generating electricity. The state-owned coal monopoly has announced introduction of a calorific value-based pricing policy for power sector consumers from April, and issued an indicative chart for these customers. While one major power company said the […]