The Telegraph
Since 1st March, 1999
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Business Briefs

Trai tells Bharti to let in TTL

New Delhi, Jan 9: The Telecom Regulatory Authority of India (Trai) today directed Bharti to allow its network for the calls originating from Tata Teleservices’ WiLL-based limited mobile services. “The Trai hereby directs you under Section 13 of Trai (amendment) Act, 2000 to ensure completion of calls originating in TTL network and terminating in your (Bharti) network with immediate effect,” Trai said in its letter to Bharti Cellular.

Hughes net

New Delhi, Jan 9: Hughes Software Systems today reported an over 21 per cent fall in its net profit for the third quarter ended December 31, 2002 at Rs 11.4 crore against Rs 14.5 crore during the same period last year. Its net sales also dropped by over 4 per cent to Rs 57.1 crore from Rs 59.9 crore a year ago.

Blow to NBFCs

Mumbai, Jan. 9: Reserve Bank of India has directed non-banking finance companies (NBFCs), which are yet to meet the norm of a minimum net-owned fund of Rs 25 lakh, to discontinue business as an NBFC from today.

MphasiS net up

Mumbai, Jan 9: MphasiS BFL group has posted a 41 per cent rise in its consolidated net profit at Rs 18.18 crore for the third quarter ended December 2002 against Rs 12.90 crore in same period last fiscal.

Fiat India MD

Mumbai, Jan. 9: Alberto Montanari has been named the new chairman and managing director of Fiat India in place of M. P. Bianchi.

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