Torrent Pharmaceuticals has reported a 10.48 per cent decline in its consolidated net profit for the fiscal ended March 31, 2005 at Rs 48.76 crore compared with Rs 54.47 crore in the previous fiscal. Its total income during the fiscal increased to Rs 550.83 crore from Rs 462.97 crore in 2003-04. The company has recommended a dividend of Rs 8 per share for the year. In the fourth quarter ended March 31, the company has posted a net profit of Rs 3.30 crore compared with Rs 9.80 crore for the corresponding quarter previous fiscal.
Agro Tech Foods has decided to consolidate its core businesses and strategic brands and sell off its entire stake in Advanta India to its Dutch parent, Advanta Finance BV,which is a wholly-owned subsidiary of Advanta Netherlands Holdings. Agro Tech?s board of directors has already approved the proposal. Advanta Finance will buy back Agro Tech?s stake in Advanta India for a consideration of Rs 28.815 crore.
Around 75 small and medium enterprises signing up for SAP India?s business solutions such as enterprise resource planning (ERP), customer relationship management (CRM) and others in 2004. This means, on an average, the company has signed up one new customer every five days. The same trend continues in 2005. During the first three months of this year, 30 new small and medium-sized businesses have registered with SAP India taking its total number of SMB customers to 300.
In tandem with SAIL?s corporate plan 2012, the company?s raw materials division (mines) has decided to increase the iron ore production in its various mines to 20 million tonne per annum (mtpa) by 2011-12 from the present level of 12.94 mtpa. The iron ore mines under RMD cater to Bokaro, Durgapur and Rourkela steel plants, while Bhilai group of mines take care of Bhilai steel plant?s requirement.
State Bank of India (SBI) and Punjab National Bank (PNB) have signed an agreement for bilaterally sharing their ATM network. Following this, the cardholders of one of the banks can now withdraw their money from the other bank?s ATM. PNB has a network of 560 ATMs across the country and it is also a member of MITR, a shared ATM network. SBI, with its eight associate banks, has 5290 ATMs, which will now be accessible to PNB?s cardholders also.
Allahabad Bank has been rewarded with Rajbhasha Shield by the Reserve Bank of India for outstanding performance in the field of official language implementation. The bank has been awarded the first prize in Region A and fourth in Region B.
