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Business Briefs

Forex kitty

Mumbai, May 30: The country’s forex reserves climbed $6.43 billion to $260.63 billion for the week ended May 22, compared with $254.20 billion in the previous week. Reserves had dipped $1.73 billion for the week ended May 15. Foreign currency assets, during the week, rose $250.16 billion, up $6.41 billion, compared with $243.75 billion in the previous week, the RBI said in its weekly report.

Sun Pharma

Mumbai, May 30: Drug maker Sun Pharmaceutical Industries’ net profit rose 22.24 per cent to Rs 1,817.73 crore in 2008-09. The company had posted a net profit of Rs 1,486.90 crore for the year ended March 2008.

IFRS debut

Calcutta, May 30: International Financial Accounting Standards (IFRS) will be implemented in India from April 1, 2011. However, some of the regulations followed in the country will need to be amended in order to comply with the norms.


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