Petrol price hiked by Rs7.50 a litre from midnight

State-owned oil firms said they will raise petrol price by Rs6.28 per litre excluding local sales tax or VAT

New Delhi: In the steepest ever hike, petrol price was increased on Wednesday by Rs7.50 a litre with effect from midnight tonight, reports PTI.

State-owned oil firms said they will raise petrol price by Rs6.28 per litre excluding local sales tax or VAT. The hike translates into Rs7.50 per litre in Delhi.

Petrol in Delhi currently costs Rs65.64 a litre and after the increase it will be priced at Rs73.14 per litre.

BJP has flayed the steep hike of Rs7.5 per litre in petrol price terming it as "unreasonable" which will make the life of the common man "miserable".

"This whole petrol price hike is clearly unreasonable, arbitrary and is condemned as it will put further inflationary pressure and lead to further rise in prices. Life of the common man will become more difficult and miserable," BJP's chief Spokesperson Ravi Shankar Prasad said.

He said the petrol price hike "will have a cascading effect and prices are going to go out of control. It is condemnable."

User

Tata Global Beverages Q4 net profit falls 36% at Rs54 crore

The Tata group company's fourth quarter net sales increased to Rs1,724.11 crore from Rs1,558.01 crore a year ago

New Delhi: Tata Global Beverages on Wednesday said its consolidated net profit fell 36.4% to Rs54.21 crore for the fourth quarter ended March 2012, reports PTI.

The company had posted a net profit of Rs85.24 crore during the same period of previous fiscal, Tata Global Beverages said in a filing to the BSE.

Net sales of the company, however, rose to Rs1,724.11 crore for the fourth quarter, as against Rs1,558.01 crore in the corresponding period of previous financial year.

For the year ended March 2012, the company posted a net profit of Rs356.14 crore, as against Rs254.33 crore in 2010-11.

Net sales of the company for the year ended March 2012, stood at Rs6,585.26 crore, compared to Rs5,982.42 crore in 2010-11.

The company's board, which met today, has recommended a full year dividend of Rs2.15 per share.

Shares of Tata Global Beverages today closed at Rs108 on the BSE, down 1.03% from its previous close.

User

Tech Mahindra Q4 net profit rises three-fold to Rs302 crore

For the full year, Tech Mahindra's net profit grew 70% to Rs1,095.4 crore

New Delhi: IT company Tech Mahindra on Wednesday said its net profit has increased more than three-fold to Rs302.5 crore for the quarter ended March 2012, reports PTI.

This is against Rs92.1 crore in the same period last year, Tech Mahindra said in a statement.

Revenues during the reported quarter increased 12.5% to Rs1,419 crore from Rs1,261.5 crore in the year-ago period.

For the year ended March 2012, the company's net profit grew 70% to Rs1,095.4 crore from Rs644.1 crore.

Revenues in FY12 stood at Rs5,489.7 crore, up 6.7% from Rs5,140.2 crore in 2010-11. The cash and cash equivalent stood at Rs 402 crores as on balance sheet of March 2012.

Total headcount stood at 40,763 as of March 2012, with software professional headcount at 24,833. Number of BPO professionals stood at 14,792, while support staff was 1,138 at the end of March 2012.

The Board of Directors have recommended a dividend of Rs4 per share.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)