M&M Q4 net profit zooms 89%; revenues up 14%
India's largest multi-utility vehicles maker Mahindra & Mahindra Ltd (M&M) said its fourth quarter net profit rose 89%, mainly due to special adjustments made on its acquisition of Punjab Tractors Ltd.

In a filing to the Bombay Stock Exchange, M&M said, for the quarter to end-March, its net profit rose to Rs4.2 billion from Rs2.2 billion as total revenues, including sales, grew...

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ITC Q4 net profit up at Rs8 billion despite lower revenues
India's diversified company ITC Ltd reported a higher fourth quarter net profit but its total revenues were down.

For the quarter to end-March, the tobacco to IT company, reported a net profit of Rs8.08 billion from Rs7.35 billion even as total revenues, including sales, declined to Rs39.8 billion from Rs40.1 billion, compared with a year ago period.

ITC said for the year to...

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GMR buys Singapore-based Island Power Project
GMR Infrastructure Ltd (GMR Infra) said its parent GMR Group bought Singapore-based private electric utility Island Power Project from power producer InterGen NV.

The company did not divulge financial details but said the project would bring about $1.5 billion as foreign direct investment (FDI) in to Singapore.

In a filing to the Bombay Stock Exchange, the infrastructure company...

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