ICICI banks net profit rises 29 pc for Q4 FY 05-06

Monday, May 1, 2006, 22:54 [IST]

Mumbai, Apr 29 (UNI) Showing a tremendous growth in the total income, ICICI Bank's net profit increased by 29 per cent to Rs 790 crore for the fourth quarter ended March 31, (FY 2005-06) compared to Rs 615 crore for the Q4 (FY 04-05).

Announcing the result, the company spokesperson told mediapersons here that the total income has also grown by 53 per cent to Rs 5591.71 crore for Q4 (FY 05-06) over 3637.54 crore witnessed in the comparable quarter of the FY 04-05.

At its Board of Directors' meeting, the company decided to give a dividend of 85 per cent, which is Rs 8.50 per share.

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Amended FC(R) Act to boost commodity futures

Monday, May 1, 2006,22:54 [IST]

Kolkata, Apr 29 (UNI) The amended Forward Contracts (Regulation) Act would support growth of commodity futures market in India, Forward Market Commission director K S Uma said today. The Act is presently before the Parliament for approval, she said. The proposed amendment would allow participation of FIIs, banks and mutual funds in the commodity futures thereby further boosting the trade, she said. The amendment also proposes allowing options trade for goods, demutualisation of the.....

Cola seeks tax holiday in MP

Monday, May 1, 2006,22:55 [IST]

Bhopal, Apr 29 (UNI) Soft-drink major, Coca Cola, has sought tax holiday in Madhya Pradesh even in the VAT regime that came into force from April this year. ''Coca Cola was granted tax holiday in the state till 2009. But it came under tax net after Value Added Tax was introduced in April,'' company's Vice President T Krishna Kumar told Commercial Tax Minister Babulal Gaur here yesterday and sought continuation of tax holiday. Mr Gaur said.....

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BSNL to strengthen network in Himachal Pradesh

Monday, May 1, 2006,22:55 [IST]

Shimla, Apr 29 (UNI) Bharat Sanchar Nigam Limited (BSNL) will pump in a sum of Rs 220 crore for strengthening its network in Himachal Pradesh besides complimenting the efforts of state government in e-health, e-education and e-governance. ''The priority of BSNL is to increase its coverage by an elaborate network of optical fiber cables in lower areas and through WLL in difficult areas of the state,'' newly elected appointed Chief General Manager, Kant Sharma, said,.....

Courier services to be regulated by new law

Monday, May 1, 2006,22:55 [IST]

Jaipur, Apr 29 (UNI) The courier services are likely to be regulated by a regulatory body on the lines of Telecom Regulatory Authority of India (TRAI) and would be taxed henceforth. Stating this to mediamen here today, Telecommunications and Information Technology Minister, Dr Shakil Ahmed said that the government has no intentions of wrapping up the courier services but efforts are on to regulate them by law. He said the Indian Postal Act, 1898 is already.....

NFL earns a profit of Rs 110.16 crore

Monday, May 1, 2006,22:55 [IST]

New Delhi, Apr 29 (UNI) National Fertilizers Ltd (NFL), a leading producer in nitrogenous fertilizers in the country, has registered a net profit of Rs 110.16 crore for the year 2005-06. Its gross profit before tax was Rs 169.06 crore during this period. During 2005-06, NFL produced 33.44 lakh tonnes of urea with a record capacity-utilisation of 103.5 per cent. Besides, it made a record production of bio-fertilizers at 175 tonnes against installed capacity.....