Rs.48.7 crore credited in account mistakenly!

October 5th, 2009 HYDERABAD - The worst floods in over a century have left a trail of destruction estimated at Rs.12,225 crore, the Andhra Pradesh government has said while asking New Delhi for immediate assistance of Rs.6,000 crore. In a memorandum to United Progressive Alliance chairperson and Congress president Sonia Gandhi, Chief Minister K.

July 30th, 2009 MUMBAI - Food products major Nestle India Thursday reported a 33.8 percent increase in net profit to Rs.162 crore for the quarter ended June 30 as compared to Rs.121 crore in the like period last fiscal. The total income surged 16.8 percent to Rs.1,218 crore from Rs.1,042 crore, the company said in a regulatory statement.

July 25th, 2009 CHENNAI - City-based engineering and infrastructure firm BGR Energy Systems has posted a net profit of Rs.20.23 crore for the quarter ended June 30 as against Rs.17.23 crore reported in the like period last year, a growth of 17 percent. The company's turnover during the period stood at Rs.311 crore as compared to Rs.306 crore in the April-June quarter last fiscal, BGR said in a statement.

July 23rd, 2009 CHENNAI - The city-based Indian Bank closed the first quarter with a 52 percent increase in net profit and nearly 21 percent increase in total business as compared to the corresponding period in the previous fiscal, said a top bank official here Thursday. "Despite the challenging economic environment, the bank has earned a net profit of Rs.331.66 crore and did a total business of Rs.1,28,701 crore (deposits plus advances) as against Rs.217.62 crore and Rs.1,06,691 crore posted during the corresponding period of the previous year," said the bank's chairman and managing director M.S.

July 22nd, 2009 NEW DELHI - India's net direct tax collections increased 3.65 percent in the first quarter this fiscal, but the growth was stymied on account of a 52-percent jump in refunds and lower corporate tax collection, the government said Wednesday. Net direct tax collections during first three months of the present fiscal stood at Rs.59,465 crore ($11.9 billion), up from Rs.57,373 crore ($11.5 billion) in the same period last fiscal, a finance ministry statement said.

July 17th, 2009 NEW DELHI - The government Friday said it has fined private carrier Kingfisher Airlines Rs.26.46 crore for delay in remittance of tax deducted at source (TDS). Minister of State for Finance S.S.

July 14th, 2009 MUMBAI - The country's second largest private lender HDFC Bank Tuesday said its net profit increased by about 31 percent to Rs.606 crore (Rs.6.06 billion/$123.4 million) in the first quarter this fiscal, compared to Rs.464.35 crore in the year-ago period. The bank's net income for the period under review grew 21.86 percent to Rs.5,136.75 crore from Rs.4,215.15 crore.

June 25th, 2009 NEW DELHI - Realty major Unitech's net profit dipped 28 percent to about Rs.740 crore for 2008-09 from nearly Rs.1,031 crore posted the previous year, the company said Thursday. Its total income in the year under review decreased to Rs.2,455 crore from Rs.2,970 crore earned in 2007-08, it said in a regulatory statement.

June 17th, 2009 MUMBAI - India's central bank has asked banks to inform customers about fund transfers through email or short messaging service (SMS) and revert uncredited funds within 90 minutes. "We understand that quite a good number of banks send SMSs to the account holders as and when the account is debited/credited," Reserve Bank of India (RBI) said in a notification Tuesday.

June 7th, 2009 RANCHI - Bokaro Steel Plant has planned to shave off up to Rs.225 crore in expenditure this fiscal on account of rising input costs and declining profits, according to a top company official. Profits came down as we had to bear an additional Rs.1,864 crore outgo because of rise in coal prices.

May 21st, 2009 KOLKATA - Coal India Ltd (CIL) has posted net profit of Rs.96 crore in 2008-09 against a profit of Rs.5,243 crore the year before, a top company official said here Thursday. 'The profit dropped because of the upward revision of wages for wage board employees,' CIL chairman Partha S.

May 4th, 2009 KOLKATA - State-run lender Allahabad Bank Monday reported a net profit of Rs.264.09 crore in the fourth quarter of 2008-09 as against Rs.169.51 crore in the like period last fiscal, a rise of 55.8 percent. However, the bank's yearly profit fell 21 percent last fiscal.

March 30th, 2009 NEW DELHI - The central government Monday approved Meghalaya's Rs.1,540.87-crore vote-on-account for April-July 2009. Meghalaya's budget has to be cleared by the centre as the northeastern state has been under president's rule since March 19 this year.

February 15th, 2009 NEW DELHI - The government Monday revised the total expenditure estimate in the current fiscal to a little over Rs.9 trillion (Rs.900,953 crore), an increase of Rs.1.5 trillion (Rs.150,069 crore) on account of increased assistance to states, greater sectoral investments and a higher subsidy burden. In the interim budget that he presented in the Lok Sabha, External Affairs Minister Pranab Mukherjee hiked the plan expenditure by Rs.395.71 billion (Rs.39,571 crore) to Rs.2.82 trillion (Rs.282,957 crore), against the budgeted estimate of Rs.2.43 trillion (Rs.243,386 crore).

December 28th, 2008 NEW DELHI - Engineering major Escorts Ltd notched profits of Rs.118.7 million (Rs.11.87 crore) in 2007-08 on account of a higher domestic market share and greater cost and operational efficiencies, the company said Monday. Net profits rose in the financial year ending Sep 30, compared to a loss of Rs.64.4 million (Rs.6.44 crore) the previous fiscal.