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SpiceJet Q4 profit more than triples to Rs 73 crore

Edit Yahoo Daily News 20 May 2016
India’s second largest low-cost carrier SpiceJet’s net profit more than tripled to Rs 73 crore for the January-March quarter of FY16 on the back of increase in passenger load, higher capacity and efficient utilisation of aircraft. The airline made a net profit of only R22 crore during the same period last year ... Consequently, the aircraft maintenance cost of airline increased by 246.09% y-o-y to R395.58 crore....

MC proposes devp work worth 6 crore in ward 56

Edit The Times of India 20 May 2016
In a bid to develop ward 56 as a model ward, the municipal corporation (MC) has moved a proposal for developmental works worth around Rs 6 crore ... Earlier, the committee gave the nod for development works worth around Rs 15 crore in the ward but councillor Bhupinder Singh Bhinda forwarded another list....

ECGC saw PAT at Rs 276.22 cr in FY16 surge of around 53%

Edit Yahoo Daily News 20 May 2016
Export Credit Guarantee Corporation of India (ECGC), which provides export credit insurance facilities to exporters and Indian banks, reported profit after tax at`276.22 crore in FY16, an increase of around 53% compared to `180.10 crore in FY15. Despite paying claims of `1,122.84 crore to Indian exporters and financing banks in the last fiscal, most of the profit for the firm came from their investment income....

Vishal Sikka got Rs 48.73 cr salary during FY16

Edit Yahoo Daily News 20 May 2016
Infosys CEO Vishal Sikka received a total salary of R48.73 crore for the fiscal 2015-16, according to the discloures made in the the company's annual report, and this compensation level is set to increase by 50% for the current financial year as per the renewed agreement announced in February this year....

Tamil Nadu polls: 170 newly-elected MLAs are crorepatis

Edit Deccan Chronicle 20 May 2016
Of the  232 newly-elected MLAs, there are 170 crorepatis who own assets worth Rs 1 crore and more, statistics show. Among them, 91 AIADMK MLAs and 73 DMK MLAs have declared assets worth over Rs 1 crore. Congress has five MLAs and IUML one candidate who have  assets of Rs 1 crore and above ... Vasanthkumar who declared assets worth Rs 337 crore ... Jayalalithaa declared assets worth Rs 113 crore....

ED finds money trail in Israel, asks Tyagi for info

Edit The Times of India 20 May 2016
The Enforcement Directorate (ED) has asked former IAF chief S P Tyagi, an accused in Rs 3,546 crore VVIP chopper scam, for his business transactions in five companies even as the money trail probe has revealed that bribes received from AgustaWestland in Italy were routed to a firm in Israel, most likely through IDS Tunisia....

Oil and Gas slowdown contributes to Rane’s loss

Edit The Times of India 20 May 2016
Rane Engine Valve, manufacturer of engine valves, guides and tappets registered a net loss of 12.54 Crores against a net ......

Strong business model, financials help NBCC emerge a winner

Edit The Times of India 20 May 2016
Due to this, the company has been debt-free and cash-rich (Rs 1,054 crore). Its net revenues in the three years through FY16 have grown at a compounded annual rate (CAGR) of 20% to Rs 5,759 crore, while its net profit has grown at a CAGR of 10% to Rs 311 crore over the same period ... The company has secured redevelopment of three old colonies in Delhi, which translates into order book amounting to Rs 25,000 crore....

Infosys' crorepati club gets bigger

Edit The Times of India 20 May 2016
As many as 49 senior executives drew over Rs 1 crore in compensation in the 2015-16 financial year, up from 18 two years back. Last year was an aberration when 113 crashed past the crore mark due to a one-off, high-incentive payout. The increase in the number of VPs and SVPs entering the Rs 1-crore roster last fiscal explains the company's attempt to bridge the pay gap with competitors and stem attrition in a fierce war for talent....

Assembly elections 2016: Congress now controls just 6% of India

Edit Yahoo Daily News 20 May 2016
To put the Congress’ state headcount in perspective, the combined population of all of the states ruled by the party — on its own and through coalition — totals 8.62 crore, just a shade lower than the population of undivided Andhra Pradesh (8.45 crore), India’s fifth largest state by population ... India’s seventh largest state Tamil Nadu (7.2 crore)....

Maharashtra issues orders to attach sugar mills’ assets over FRP payments

Edit Yahoo Daily News 20 May 2016
According to the latest estimates, the arrear position has come down from R2,672 crore in the last fortnight to R1,800 crore as on date, he said, adding that Maharashtra is leading in terms of recovery of FRP compared with other states. Around R900 crore has been collected in the last fortnight itself, he said ... “Last year, mills owed a whopping R6,910 crore to the farmers at this time....

Land acquisition for SRDP to cost a bomb

Edit The Times of India 20 May 2016
The Greater Hyderabad Municipal Corporation (GHMC) requires about Rs 586 crore to construct six multi-level flyovers around KBR National Park. However, property acquisition, especially one particular property near Jubilee Hills checkpost, is expected to cost about Rs 1,500 crore towards compensation ... and the state government had earned Rs 334 crore....

'Crorepati' VRO in ACB net

Edit The Times of India 20 May 2016
Vissannapet (Krishna). Sleuths of Anti-Corruption Bureau (ACB) conducted surprise checks at the residence of Vemureddypalle VRO Behara Seetaramayya in the village and seized property documents worth around Rs 10 crore (market value) and Rs 25 lakh in cash ... "Five years of service at the same place helped the VRO manipulate the tehsildars ... A bank locker was identified which had gold and diamond ornaments worth around Rs 1.5 crore ... ....
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