Citizens' Issues
Hundreds feared dead in Iran earthquake

Iran’s Seismological Centre reported on its website that the 7.5 magnitude quake struck at 3:14 pm (1614 IST) about 80 kilometres the border with Pakistan and Afghanistan

A strong earthquake measuring 7.5 on the Richter scale struck Iran's south-eastern Sistan and Baluchestan Province, according to reports quoting the Iranian Seismological Centre.

 

An Iranian government official said he expected hundreds of deaths from a major earthquake that struck Iran near the border with Pakistan. Though, Iranian state TV says at least 40 people have been killed in this earthquake.

 

Iran’s Seismological Centre reported on its website that the 7.5 magnitude quake struck at 3:14 pm (1614 IST) about 80 kilometres the border with Pakistan and Afghanistan.

 

It also shook buildings and forced high-rise offices to be evacuated in Abu Dhabi, in the United Arab Emirates, as well as across northern India, including the capital New Delhi where tremors rattled buildings and caused office-workers to run into the streets.

 

The website of the US Geological Survey put the magnitude of the quake at 7.8, and said it struck near the Iranian city of Khash, in the south-eastern province of Sistan Baluchistan.

 

The head of Iran’s Red Crescent rescue corps, Mahmoud Mozafar, said evaluation teams were dispatched to the affected area.

 

The quake also shook large parts of Pakistan including Islamabad, where buildings swayed, and the largest city Karachi, where tremors also prompted many to flee buildings in terror.

 

However, the earthquake was not felt here.

 

It comes a week after a strong earthquake struck near Iran’s Gulf port city of Bushehr, killing at least 30 people and injuring 800 but leaving Iran’s only nuclear power plant intact.

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Power supply and VIP constituencies of Uttar Pradesh

The Electricity Act does not allow preferential treatment to anybody as far as supply of electricity is concerned, according to KK Bajaj of the Consumer Education and Research Centre

The nine-month-old decision in Uttar Pradesh to provide round-the-clock electricity to the two places, Rae Bareli and Amethi, was revoked late Thursday 11 April 2013, after which power went off for more than four hours, Uttar Pradesh Power Corporation officials said, according to report in The Economic Times dated 12 April 2013. Amethi and Rae Bareli are represented in Parliament by Rahul Gandhi and Sonia Gandhi, respectively. The ET report added, “While officials were mum on the matter, some privy to the decision told reporters that from now on VIP districts would also get normal power supply.” Uninterrupted power supply, however, continues to some other VIP zones in Uttar Pradesh of the Samajwadi Party.

 

Although a partial victory, this is a clear verdict in favour of the humble consumer of electric power supply in all the states of India. The Electricity Act does not allow preferential treatment to anybody as far as supply of electricity is concerned, according to KK Bajaj, Chairman, Consumer Education and Research Centre (www.cercindia.org).  UP Electricity Regulatory Commission (UPERC) had sent a notice to the state government asking its explanation for giving preferential treatment to consumers in Rae Bareli and Amethi.

 

Mr Bajaj says, “I will wait for a week and again write to UPERC.” All consumers in all parts of UP should be treated alike is his argument. There should be nothing special about consumers in VIP constituencies.

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Reliance Industries Q4 net profit up 32% to Rs5,589 crore

For FY13, the Mukesh Ambani-led company's net profit rose 4.8% to Rs21,003 crore while its turnover grew to Rs3.71 lakh crore

Reliance Industries (RIL), India's largest private sector company, reported a 32% increase in its fourth quarter net profit on improved refining margins. For the quarter to end-March, RIL's net profit rose to Rs5,589 crore from Rs4,236 crore while its total turnover declined marginally to Rs86,618 crore from Rs87,833 crore same period a year ago.

 

For the year to end-March, the Mukesh Ambani-led petrochemical company said its net profit increased 4.8% to Rs21,003 crore from Rs20,040 crore while turnover grew to Rs3.71 lakh crore from Rs3.39 lakh crore, a year ago.

 

Commenting on the results, Mr Ambani, chairman and managing director (CMD) of RIL said, “The growth in earnings was largely driven by strong and improved refining margins during the year. Production growth from our investments in unconventional liquids-rich resource plays in North America has reinforced our confidence in creating long-term value for our shareholders from this diversification. We are delighted to see our retail business achieving a milestone of annual revenue crossing Rs10,000 crore and will further strengthen our position in this sector.”

 

During FY13, RIL said its exports grew 15% to Rs2.39 lakh crore while gross refining margin (GRM) came at $9.2 per bbl. The company earned a cash profit of Rs30,505 crore during the year ended in March 2012, RIL said in a release.

 

For the full year, RIL's refining business revenues increased by 11.6%, Petrochemicals by 9.3% while Oil & Gas revenues decreased by 35.2% due to lower production. Higher prices accounted for 11.0% growth in revenues, which was partly offset by the decrease in volumes by 1.8%, the company said.

 

As on 31 March 2012, RIL had a cash and cash equivalent of Rs82,975 crore in bank deposits, mutual funds and government securities and bonds.

 

The company has declared a full year dividend of Rs9 per share.

 

Before the results announcement, RIL shares closed Tuesday 1.38% up at Rs804.5 on the BSE, while the benchmark Sensex ended 2.11% higher at 18744.9.

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COMMENTS

snehakamath

4 years ago

Two consecutive good quarter results prove that the bad is bad news is left behind and this once a darling of investors and traders will have a lot to play in centre stage.

The prices may not move 15% up tomorrow , however over next few days steadily share will rise to 4 digits and retain and return to its old glory

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