The Centre will earn Rs 1.87 lakh crore in FY21 from the Rs 13-16/litre additional cess and surcharges imposed on auto fuels in March 2020 and later in the month of May of the same year. Going by the projection of 8% rise in fuel demand in FY22, the Centre’s incremental income from the two […]
India’s only gold producer Hutti Gold Mines plans to triple annual production of the yellow metal to 5,000 kgs in one-and-a-half years, according to Karnataka Mines and Geology Minister Murugesh R Nirani. Nirani, who completes one month in office as cabinet minister in the BJP-ruled Karnataka government, added that due to COVID-19, the revenue from mines […]
State-owned NTPC posted a nearly 16 per cent rise in consolidated net profit at Rs 3,876.36 crore for the December quarter, mainly due to higher revenues. Its consolidated net profit was at Rs 3,351.28 crore in the quarter ended on December 31, 2019, according to a BSE filing. Total income rose to Rs 28,387.27 crore […]
State-owned Hindustan Petroleum Corporation (HPCL) reported a net profit of Rs 2,354.6 crore on a standalone basis for the three months ended December, recording a 215% rise from the same period a year ago. The company attributed the rise in profit to effective refinery scheduling and inventory management, “duly supported by favorable crude price movements leading […]
State-owned steel maker SAIL on Friday reported a consolidated net profit of Rs 1,468 crore for the third quarter ended December 2020, mainly on account of higher income, a growth of almost 400 per cent over the same period in the previous fiscal, when the state-owned steelmaker posted a net loss due to the global […]
On the back of a strong recovery in steel demand, JSW Steel reported record numbers for the three months of October-December. The net profit of Mumbai-based company increased nearly 14 times on a year-on-year basis to Rs 2,669 crore. Consolidated revenue from operations surged 21% y-o-y to Rs 21,859 crore. Overall sales volumes were slightly lower by […]
Tata Power posted a 10 per cent increase in consolidated net profit at Rs 371 crore for the quarter ended September 2020. “Consolidated PAT stood at Rs 371 crore (in July-September 2020) up by 10 per cent as compared to Rs 339 crore in Q2 FY20 due to stable performance across businesses,” said a company […]
Indian Energy Exchange (IEX) said it has recorded a 13.2 per cent rise in electricity sales to 16,486 million units (MU) in the September quarter, as power demand accelerated and returned to pre-COVID levels. The second quarter witnessed a sharp recovery in industrial activities and electricity consumption, owing to easing of the lockdown restrictions across […]
India’s decision to reduce natural gas prices by 25% will dent the earnings of oil and gas exploration companies, though it will improve end-user consumption, analysts say. State-run Oil and Natural Gas Corporation and Oil India Limited will hurt their gas sales, which accounts for close to 20% of their overall production. The majority of […]
India’s state-run oil explorer Oil and Natural Gas Corp ((ONGC) reported a 91.7% drop in net profit to 4.96 billion rupees during the first quarter of the financial year due to a slump in crude oil prices. Its revenues fell 51% to 13.01 billion rupees as a nationwide lockdown to check the Covid pandemic impacted fuel demand. […]
