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Internet body petitions CCI on telephony
Frustrated with an almost seven-month delay in the Department of Telecommunication (DoT) response to the Telecom Regulatory Authority of India (Trai) recommendation that the Internet Service Providers (ISPs) should be permitted to use telephone lines to make internet telephony calls, the Internet Service Providers Association of India (ISPAI) has moved the Competition Commission of India (CCI).

SEBI appeal against its listing power is improper
The Securities and Exchange Board of India (SEBI) is reported to have appealed a decision by the Securities Appellate Tribunal (SAT) that over-ruled the Bombay Stock Exchange’s (BSE) refusal to issue an in-principle listing approval to a listed company.

News of the day

Shobhana Subramanian: Who'll finance 'affordable' housing?
Shobhana Subramanian / Mumbai November 20, 2009, 0:53 IST
Management

Tata Power net down 28%

Tata Power Company reported a 28 per cent fall in net profit at Rs 182.1 crore for the second quarter ended September, compared to Rs 252.9 crore for the corresponding quarter last year. - Madhucon Projects Q2 net dips 7% - GE Shipping Q2 net dips 82% to Rs 106 cr - GVK Power Q2 net surges 45% - ABB Q2 net declines 21% to Rs 83 cr - Nalco"s Q2 net erodes 64% at Rs 159 cr - Mundra Port's Q1 net zooms 56% Net sales were also lower at Rs 1,721.1 crore, 12 per cent lower as against the Rs 1,958.9 crore in the same period last year. Total income of the company has decreased by 16.3 per cent from Rs 2,147.3 crore in the corresponding previous year quarter to Rs 1,796.6 crore for the quarter ended September 30, by the audited results. Tata Power said the results are not comparable with last year, due to higher forex gain of Rs 76.7 crore in the second quarter of last year, whereas this was only Rs 3.1 crore in the second quarter of this year. The remaining other income for the period was also lower at Rs 72.4 crore, against Rs 111.7 crore in the corresponding quarter last year. The company also said net sales were lower, mainly due to reduction in fuel price. The benefit has been passed on to consumers, by lowering power rates.


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