HPCL Q1 net loss widens to Rs1,884.3 crore

State-run Hindustan Petroleum Corp Ltd (HPCL) registered a first quarter net loss of Rs1,884.3 crore against the net profit of Rs649.1 crore for the quarter ended 30 June 2009.

During the June 2010 quarter, the company’s total revenues has increased to Rs29,466.8 crore from Rs24,637.9 crore same quarter last year.

On Friday, HPCL shares declined 1% to Rs435 on the Bombay Stock Exchange, while the Sensex closed 0.1% higher at 18,130 points.

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BHEL Q1 net profit up 43% to Rs667.7 crore

State-run Bharat Heavy Electricals Ltd (BHEL) reported a 43% jump in its first quarter net profit to Rs667.7 crore compared to Rs470.6 crore for the same quarter last year.

During the quarter to end-June, BHEL's total revenues increased to Rs6,764.5 crore from Rs5,898.5 crore a year ago. The company said it has an outstanding order book position of about Rs14,8000 crore at the end of the June 2010 quarter.

On Friday, BHEL shares ended 1.7% up at Rs2,460 on the Bombay Stock Exchange, while the Sensex closed 0.1% higher at 18,130 points.
 

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TRAI report on linking 2G spectrum price with 3G in 2-3 weeks

New Delhi: Telecom regulator Telecom Regulatory Authority of India (TRAI) today said it would give recommendations on one-time charge for extra second generation (2G) spectrum held by operators and linking it with the third generation (3G) prices, in two-three weeks, reports PTI.

TRAI had proposed the process for linking 3G spectrum price with 2G spectrum in order to give level playing field to all operators.

"When we gave our recommendations to the government in May 2010, we had said that we are studying the issue (linking 2G price with 3G price). We have not asked for any extension.

We expect to give recommendations in two-three week," TRAI chairman J S Sarma said here.

Most of the incumbent GSM operators have strongly opposed any move to link 2G spectrum price with that of 3G and have also refused to give any one-time charge for extra spectrum beyond 6.2 Mhz.

The operators have said that all spectrum allocations have been made as per the policy and there is no extra spectrum with the operators.

On the media report of Solicitor General's Gopal Subramanium comment that the telecom ministry can change the term and conditions of existing licences and the TRAI's recommendations are not binding on the government, Mr Sarma said, "I have seen it in the media today I don't know what the opinion is about so I don't want to comment on that.

"It's the question of the Act there are certain provisions in the Act and one goes by those provisions."

On the amendment in the TRAI Act, Mr Sarma said, "The issue of amendment in the Act is under consideration by the government. They have recently referred to us for our comments. We are considering the matter. We will tell the government what amendment we require. The regulator will continue to be guided by the provisions of TRAI Act 1997."

The proposed amendment bill is to remove the inconsistency in the qualifications of the chairperson and other members of TRAI.

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