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Oil India net profit up 23%
Oil India Ltd (OIL), the country’s second-largest state-owned explorer, has posted a 23 per cent increase in net profit for the quarter ended December 2009 on the back of higher price realisation due to a reduced subsidy outgo.

Balrampur Chini Sept quarter net jumps 193%
Balrampur Chini Mills, one of the leading sugar producers of the country, has posted a rise of 193 per cent in its net profit at Rs 42.73 crore for the quarter ended September compared with Rs 14.58 crore in the corresponding quarter last year. The company"s net sales during the quarter, however, decreased around 8 per cent to Rs 378.9 crore from Rs 411.72 crore.

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FDI up 56% as India beats recession blues
India is back on the radar of global investors even in the midst of the global financial crisis, with 56 per cent year-on-year rise in inflows of foreign direct investment in July this year, an official said.
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Air India focussing on cutting cost and increasing revenue

Cash-strapped Air India is focussing on cost reduction of Rs 1,500 crore and revenue enhancement of Rs 1,200 crore as per its turnaround plan and the government would infuse equity into the airline in the next few years, the Rajya Sabha was informed today. - Air India pilots defer strike by six days - DHL signs security partnership with Air India - AI employees stage protest march to Parliament - Air India to resume pay cut talks - Airlines may get reprieve in expat pilot phase-out - Bird hits cause Rs 7 cr loss for airlines "The airline"s turnaround plan has been broadly divided into 0-9 months, 9-18 months and 18-36 months and has been segregated under operational efficiency, product improvement, organisation building and financial restructuring," Civil Aviation Minister Praful Patel said in a written reply. He said the National Aviation Company of India (NACIL) was mainly focussing on cost reduction (to the tune of Rs 1,500 crore) and revenue enhancement (of Rs 1,200 crore). The plan also envisages manpower cost rationalisation, fuel management, route profitability enhancement and non-traffic revenue enhancement. He also said that Air India has rescheduled delivery of three Boeing 777-300ER aircraft beyond 2010 and 27 Boeing 787 aircraft beyond contracted delivery period commencing April, 2011. The airline had also proposed to lease out three new Boeing 777-200LR aircraft.


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