MRPL reports 41 per cent rise in net
Mangalore: Mangalore Refinery and Petrochemicals, subsidiary of ONGC, has registered a 41 per cent jump in net profit to Rs525 during the fiscal ended on March 31, against Rs372 crore in FY'06.

The company's Managing Director R Rajamani said the company has maintained the net profit even after providing for interest and finance charges of Rs215 crore during the current fiscal, against Rs188 crore last year, it also registered a depreciation of Rs355 crore, against Rs350 crore and tax liability of Rs563 crore, against Rs251 crore, he added.

The exports have dipped from Rs11,917 crore to Rs11,637 crore, he said.

The company's Board has decided to recommend a marginally higher dividend of eight per cent, as against seven per cent last year, keeping in view the funds required for the ongoing refinery upgrade and expansion projects, which involves capex of around Rs8,000 crore, he said. The turnover has also gone up from Rs28,243 crore to Rs32,377 crore, registering a 15 per cent growth.
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Chambal Fertilisers Q4 net down 81 per cent
Mumbai: Chambal Fertilisers & Chemicals has registered an 80.66 per cent decline in net profit at Rs5.26 crore for the quarter ended March 31, as compared to Rs27.20 crore for the same quarter last year.

The total income (net of excise) decreased to Rs497.05 crore for the fourth quarter ended March 31, from Rs512.67 crore a year ago, Chambal Fertilisers informed the Bombay Stock Exchange.
The board of directors at its meeting today declared a dividend of 18 per cent on equity shares.

For the complete year ended March 31, the company recorded a net profit of Rs151.13 crore as compared to Rs203.12 crore for the period under consideration previous year and the total income (net of excise) decreased to Rs2613.66 crore from Rs2757.20 crore. The group posted a net profit of Rs115.83 crore for the year ended March 31, as compared to Rs193.13 crore in the year-ago period and the total income (net of excise) decreased to Rs2,980.64 crore from Rs3,110.31 crore.
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JK Cement Q4 net up 274 per cent
Mumbai: J K Cement has registered a huge 274 per cent jump in its net profit at Rs61.4 crore for the quarter ended March 31, against Rs16.4 crore during the same quarter last year.

The company said the rise in net profit was due to improved realisation coupled with increased grey cement production during the quarter.

Net turnover of the company also went up by 49 per cent at Rs366.6 crore during the reporting quarter as compared to Rs245.9 crore during the same quarter ended March 31, 2006.

In the quarter ended March 31, J K Cement produced 9,52,179 tonnes of grey cement and 67,105 tonnes of white cement.

The company registered a 448 per cent jump in net profit for the entire year ended March 31 at Rs178.6 crore compared to Rs32.6 crore in FY'06. Net turnover also went up by 41 per cent at Rs1,233.3 crore during the reporting period as against Rs873.7 crore during the corresponding period last year. The company has announced a 35 per cent dividend.
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GSPC to get spend Rs600 crore for piped gas distribution
Ahmedabad: Gujarat State Petroleum Corporation (GSPC) plans to spend Rs600 crore through its subsidiary GSPC Gas Company over the next four years for a CNG and piped natural gas (PNG) network in 20 major cities and towns in the state.

Few players have entered this sector and earlier the Adanis, Gail and BPCL failed to go beyond profit concerns in executing gas distribution projects. British Gas subsidiary Gujarat Gas Company Ltd which has been distributing gas in Surat since more than a decade is the only company which has extensively covered the PNG segment by covering most of the commercial and residential segments in the city. It has also expanded its distribution network to Ankleshwar recently.

Recently, GSPC converted the Gujarat State Fuel Management Company into GSPC Gas Company. The company was formed with a clear objective to cater to the natural gas requirements of all retail segment users and undertake the city gas distribution business to provide gas to all retail consumers in the domestic, commercial, small industrial and transport segments.
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NTPC to set-up first 1000 mw power plant in Maharashtra
Nagpur: National Thermal Power Corporation (NTPC) is setting-up its first 1000 mw mega power project at a cost of Rs5000 crore. The project will come up in Maharashtra at Mouda about 40 kms from Nagpur city.

The project has finally been cleared by all concerned agencies and NTPC has floated necessary tenders inviting bids for the project, official sources said.

State government officials said the project had been given the status of mega one and reduce the cost since concessions are extended on sales tax, excise duty and other taxes.
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Car exports fall by 9.5 per cent in April
New Delhi: Passenger car exports during April the first month of the year declined by almost 9.5 per cent against the corresponding month last year.

According to figures released by Society of Indian Automobile Manufacturers (SIAM), passenger car exports from the country stood at 14,021 units compared to 15,497 units in the same month of previous fiscal.

However Maruti Udyog (MUL) and Hyundai Motor India (HMIL) gained exports volume, Tata Motors' exports dipped during the month.

HMIL was the biggest car exporter from India with 11,341 units, up 4.6 per cent from the same month last year. MUL's exports during the month grew 11.43 per cent at 1,667 units.

Tata Motors overseas sales, however, declined 11.38 per cent in April at 1,012 units compared to 1,142 units in the same month last year.
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GSM operators claim first right to 3G spectrum
Mumbai: The Cellular Operators' Association of India (COAI), which represents GSM service providers, has written to the government claiming first right of use over 3G spectrum quoting a Telecom Regulatory Authority of India (Trai) recommendation of September 2006 which stated "priority for allocating scarce spectrum to the existing licensees".

Writing to the Department of Telecommunications (DoT), the COAI said depriving them of 3G spectrum would be a violation of Clause 2 of the National Telecom Policy (NTP) of 1999. The GSM operators have cited a "desperate 2G spectrum crunch" to seek "full cognisance of legitimate rights and claims of the licensees."

Recently Tata Teleservices had written to the DoT opposing the move to reserve 3G spectrum for state-owned PSUs — BSNL and MTNL — and the entry of new foreign players in the 3G licence auction process before Indian companies' needs are met.
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