Biz Briefs

Aug 07, 2010 |

Correspondent

Aditya Birla Chemicals on Friday reported a two per cent increase in net profit, at Rs 16.1 crore in the first quarter of the current fiscal. The firm had reported Rs 15.8 crore net profit last fiscal, the company said.

Tata Group company, Tata Communications is planning to line up a capex of $500 million
to fuel its business expansion plans this fiscal, a top company official said in Mumbai on Friday.

With the Centre planning to roll out the Goods and Services Tax from next fiscal, the finance ministry has put all export oriented units under the administrative control of Central Excise formations.

Oil prices were mixed in tepid Asian trade on Friday. New York’s main contract, light sweet crude for delivery in September, gained seven cents to touch $82.08/ barrel.

Edserv Softsystems on Friday said its net profit rose over two-fold to Rs 6.88 crore for the quarter ended June 30, 2010, over the same period last year, the company said in a filing to the BSE.

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