Sunday, Aug 25 2019 | Time 14:24 Hrs(IST)
image
  • Uneasy calm prevails as life remains paralysed for 21st day in Kashmir
  • Critical components for Gaganyaan mission : India, Russia to discuss during EEF meet
  • Mortal remains of Jaitley reach Nigambodh ghat for last rites
  • Community service, community mobilisation will be 'real tributes' to Mahatma Gandhi on 150th anniv: PM
  • Denly rates England’s chances of levelling the series ‘very highly’
  • Denly rates England’s chances of levelling the series ‘very highly’
  • Man lynched in Deoria over DJ playing issue
  • Labuschagne credits Glamorgan stint for golden Ashes form
  • Labuschagne credits Glamorgan stint for golden Ashes form
  • Buffer Zones will be added to Tiger Reserves in Nagarahole National Park
  • Artisans making handmade Ganesha idols facing heat from mass production
  • TMC leader shot dead in front of his brother in West Burdwan, Explosion in TMC leader's house in Birbhum
  • ‘Eye donation is a noble deed, which our government has always encouraged’: Mamata
  • Rajnath pays floral tribute to Jaitley at BJP HQ
  • Budget session of Pondy Assembly from tomorrow
Business Economy


Bharat Forge Q1 profit down 28 PC to Rs 171.92 Cr

Bharat Forge Q1 profit down 28 PC to Rs 171.92 Cr

Hyderabad, Aug 13 (UNI) Bharat Forge Limited (BFL) has recorded a drop of 28 per cent in its net profit at Rs 171.92 crore for the quarter ended June 30,2019 , against Rs 238.75 crore during the corresponding period last year.



The company also witnessed a decline of 9.0 per cent in its revenue as compared to previous quarter caused by weak demand environment in domestic market and inventory de-stocking in oil and gas, the company said in a statement here on Tuesday.



"Q1 FY20 was a challenging quarter with negative demand development in the domestic market across segments, with OEM’s focussed on correcting inventory levels across the value chain. This coupled with the inventory de-stocking in the export Oil and Gas business, had an adverse impact on our performance, said Company Chairman and Managing Director, B N Kalyani.



During the quarter, the company secured new business worth US$ 30 million for automotive application across domestic and export markets, he said we look forward to the commencement of operations at CLWT Nellore in the coming quarter.



Given the prevailing weak and uncertain demand environment, and especially the situation across the automotive value chain, the government has taken the issue seriously and is putting in place measures to improve demand and sentiments.



We expect these measures to result in better off-take from H2 FY20, the CMD said.



While the sales development through the course of FY20 is dependent on end markets, our focus will be on aggressively cutting cost, accelerating new product development through our own R&D, free cash generation and strengthening the balance sheet, he added.

UNI KNR GK 2148

More News

CEAT Limited launches second Truck Service Hub in AP

24 Aug 2019 | 7:11 PM

Kadapa, Aug 24 (UNI) CEAT Limited, a leading Indian tyre manufacturer has launched its second Truck Service Hub (TSH) in this district of Andhra Pradesh.

see more..
Govt withdraws enhanced surcharge on tax payable on transfer of certain assets

Govt withdraws enhanced surcharge on tax payable on transfer of certain assets

24 Aug 2019 | 3:46 PM

New Delhi, Aug 24 (UNI) Tax payable on gains arising from the transfer of derivatives (Future & options) by foreign portfolio investment (FPI) which are liable to special rate of tax under section 115AD of the Act will be exempted from the levy of the enhanced surcharge, government said on Saturday.

see more..

Bullion Market Closing rates

24 Aug 2019 | 3:12 PM

Chennai, Aug 24 (UNI) Following is the bullion markets
closing rate here today.

see more..

BUSINESS-KERALA-RUBBER CLOSING

24 Aug 2019 | 2:46 PM

Kottayam, Aug 24 (UNI) Following were the rubber rates announced
by the Rubber Board here today per quintal
Kottayam
RSS FOUR 14000
RSS FIVE 13600
Kochi
RSS FOUR 14000
RSS FIVE 13600.

see more..

Kozhikode Coir Market

24 Aug 2019 | 2:44 PM

Kozhikode, Aug 24 (UNI) Following were the rates in the
Kozhikode Coir Market today per quintal.

see more..
image