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Business Economy


Kaveri Seeds sales up by 14.86 pc in FY-20

Hyderabad, May 31 (UNI) The Board of Directors of Kaveri Seeds Company Limited approved the financial results for the quarter ended May 31, 2020 at its meeting held in Secunderabad on Saturday.

The company net sales for FY20 stood at Rs 883.256 crores, compared to 768.989 crores for FY 19 up 14.86 per cent year on year, a company statement here said on Sunday.

Profit After Tax (PAT) at Rs 251.267 crores for FY20 compared to 214.729 crores for FY 19 and a growth of 17.02 per cent year on year.

The company delivered strong operational performance. Operating EBITDA margins (excluding other income) at 27.12 per cent.

The company also successfully completed a Buy Back of upto 28 lac shares of Face Value of Rs. 2 at a price of Rs. 700.

COVID19 has not had a negative impact on the company since the company is in the agri sector and in essential services. There was a minor challenge in supply chain and labor which was also sorted out with the Government’s support to ensure uninterrupted supply of essential commodities .

The company has posted net profit of Rs 9.35 crores for the quarter ended March 31, 2020 as against (loss) of Rs 11.44 crores for the corresponding quarter ended March 31, 2019, the statement added.
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Mukesh Ambani is eighth richest in the world

Mukesh Ambani is eighth richest in the world

10 Jul 2020 | 11:09 PM

New Delhi, Jul 10 (UNI) India's richest man and CMD of Reliance Industries Mukesh Ambani is eighth richest man in the world, according to the latest Bloomberg Billionaires Index released on Friday.

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2020 Indiaspora Business Leaders List Recognizes More Than 50 Executives of Indian Heritage Leading Global Corporations

10 Jul 2020 | 11:06 PM

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Mukesh Ambani is eighth richest in the world

10 Jul 2020 | 10:46 PM

New Delhi, Jul 10 (UNI) India's richest man and CMD of Reliance Industries Mukesh Ambani is eighth richest man in the world, according to the latest Bloomberg Billionaires Index released on Friday.

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IIP numbers of May not released due to inadequate data

10 Jul 2020 | 9:19 PM

New Delhi, Jul 10 (UNI) The government did not release headline industrial output numbers for May due to inadequate data collection in view of the lockdown imposed in the country to curb the spread of Covid-19.

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SAIL maintains profitability during FY20; Earns more than Rs 2,000 cr net profit

10 Jul 2020 | 9:03 PM

New Delhi, Jul 10 (UNI) Steel Authority of India Limited announced on Friday that it has earned a Profit Before Tax (PBT) of Rs 3170.66 Crore leading to Profit After Tax (PAT) of Rs 2021.54 Crore in the Financial year 2019-20.
This profit has been earned in spite of the challenging market conditions including the onset of Corona virus pandemic. In FY’20, the Company made a turnover of Rs 61024.88 Crore and its EBITDA per tonne of Saleable Steel improved from Rs 7284 in FY’19 to Rs 7869 FY’20.

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