Indraprastha Gas Ltd, the firm that retails CNG in national capital and adjoining cities, today reported a 9 per cent rise in its first quarter net profit at Rs 175.89 crore. The company had a net profit of Rs 161.26 crore in April-June 2017. In a regulatory filing, IGL said CNG sales were up 21 […]
Day: August 10, 2018
Earlier govts not serious on ethanol output, now it will save Rs 12,000 crore: PM
Prime Minister Narendra Modi today blamed previous governments for not taking the ethanol blending programme seriously and said now its production will triple to 450 crore litres in the next four years, leading to import savings of Rs 12,000 crore. “Ethanol blending programme was started during Vajpayee government. But previous governments did not take ethanol […]
Coal import by power sector in Apr-Jun period 14% less than last yr
The import of coal by the country’s power sector in the April-June quarter was 14 per cent less than the amount imported in the same period last fiscal, Parliament was informed today. “In 2018-19 (up to June 30, 2018), coal import by the power sector is 14 per cent less than the import in the […]
GAIL India Q1 profit up 23%, beats estimates on better gas trading margins
GAIL India Ltd, the country’s largest natural gas marketer, on Friday reported a 23 per cent rise in its April-June quarter net profit on better margins in gas trading and petrochemicals business. Net profit of Rs 12.59 billion in the first quarter of 2018-19 fiscal was higher than Rs 10.26 billion in the same period […]
Oil falls on trade dispute, Iran sanctions tighten outlook
Oil prices fell on Friday on concerns that global trade disputes will slow economic growth and demand for fuel, but losses were limited by U.S. sanctions against Iran which look set to tighten supply. Benchmark Brent crude oil was down 30 cents a barrel at $71.77 by 0845 GMT. U.S. light crude was 30 cents […]
BSE seeks specific details on Jet Airways’ board meetings, Q1 results delay
A day after Jet Airways delayed the announcement of June quarter results, leading bourses BSE and NSE on Friday sought specific details about the company’s board meetings and factors leading to the decision. The board of directors of Jet Airways at its meeting held on August 9 deferred the matter of consideration of the unaudited […]
Arunachal Pradesh CM reviews status of highway projects
Arunachal Pradesh Chief Minister Pema Khandu has urged government officials to fast track execution of all highway projects in the state by speeding up land execution and forest clearance processes. The chief minister, who reviewed the status of the projects in the state at a meeting here yesterday, also expressed concern over delay in the […]
Rs 1 lakh crore bounty on offer: Government invites bids in 2nd round of small oil and gas fields auction
In order to speed up production from the areas lying idle for years, the government has kicked off bidding process for the second round of discovered small fields (DSF-II). In this round, 59 marginal hydrocarbon discoveries holding resources worth Rs 1 lakh crore have been put up for auction as compared with Rs 34,600 crore […]
‘Is our airline safe,’ unpaid Air India pilots ask management
India may be the world’s fastest growing aviation market but the finances of its only two long haul airlines, Air India (AI) and Jet Airways, is far from healthy. On Friday, a large section of Air India pilots represented by Indian Commercial Pilots’ Association (ICPA) asked the management if AI “even have enough money for […]
Jet can’t count on discounts for fresh air, cheap tickets are stifling it
Go to any Indian airport, and it’ll appear that nearly all of the country’s billion-plus people have decided to fly. Yet talk to shareholders of India’s largest aviation businesses, and they’ll tell you how miserable they are. Oxygen masks have been down since last month’s 97 percent drop in quarterly profit for InterGlobe Aviation Ltd., […]
GMR awards contract for Hyd’bad airport expansion to L&T
GMR Infrastructure Limited has said its subsidiary GMR Hyderabad International Airport Limited issued Letter of Intent to award to Larsen & Toubro Limited and Megawide Construction Corporation to carry out some airport expansion works worth Rs 3,028 crore and Rs 980 crore respectively. According to a filing with the bourses, GMR said the work related […]
Ryanair pilots on strike, thousands affected across Europe
Ryanair pilots went on a 24-hour strike on Friday in several European countries in protest against the stagnation of negotiations on wages and working condition, forcing the Irish low-cost airline to cancel 400 flights on Friday affecting thousands of people. The walk-out involved staff in Germany, Sweden, Ireland, Belgium and the Netherlands. The action was […]