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Business Briefs

VAT panel to meet today

New Delhi, Oct. 3: The empowered committee on value added tax (VAT) headed by the West Bengal finance minister Asim Dasgupta will meet here on Friday to work out modalities for implementation of VAT by states from April 1. A preparatory meeting of secretaries held here today decided that states should formulate their legislations and send them for approval before October 31.

Pfizer net up

Mumbai, Oct. 3: Pfizer Ltd has reported a 4.49 per cent rise in net profit at Rs 15.36 crore for the third quarter ended August 31 compared with Rs 14.7 crore in the same period of previous fiscal.

Parke-Davis

Mumbai, Oct. 3: Parke-Davis India Ltd has reported a 27.03 per cent decline in net profit at Rs 3.59 crore for the third quarter ended August 31 compared with Rs 4.92 crore in same period of previous fiscal.

GE investment

Mumbai, Oct. 3: General Electric prefers to make its overseas investments in China than in India due to better infrastructure and rate of return. China offers opportunities in areas like engineering, plastics and healthcare, which is five times the Indian market, GE-India’s president and chief executive Scott Bayman said.

P&G move

Mumbai, Oct. 3: Procter & Gamble Hygiene & Healthcare will outsource Vicks Vaporub to Hyderabad-based Maksons Ltd.


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