×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Need to Know | Pervez Ahmed is new CEO of Max Healthcare

Need to Know | Pervez Ahmed is new CEO of Max Healthcare
Comment E-mail Print Share
First Published: Fri, Jan 30 2009. 11 03 PM IST
Updated: Fri, Jan 30 2009. 11 03 PM IST
New Delhi: Diversified business house Max India Ltd on Friday said it has appointed Pervez Ahmed as the chief executive officer and managing director of its hospital chain subsidiary Max Healthcare.
“Pervez Ahmed has been appointed CEO and managing director of Max Healthcare. Accordingly, Analjit Singh will now retain the position of chairman of Max Healthcare,” the company said in a statement. Earlier, Ahmed had served as the executive medical director of Max Healthcare during 2007-2009 and was also a part of the two-member joint leadership team, along with Mukesh Shivdasanai.
PTI
**********
Production at six key industries grew 2.3%
New Delhi: India’s production at six key industries, which account for a quarter of the nation’s industrial production, rose 2.3% in December from a year earlier, the government said.
The index for the six key industries rose to 247.7 in November, the ministry of commerce and industry said in a release in New Delhi on Friday.
Production in the nine months ended 31 December rose 3.5%, compared with a 5.9% gain a year earlier.
Bloomberg
*********
Educomp Solutions gets orders worth Rs120 cr
Mumbai:Educomp Solutions Ltd said on Friday it has received orders worth Rs120 crore from Uttar Pradesh and Assam governments to implement computer education in 2,042 schools in the two states.
The order from Uttar Pradesh has a tenure of five years, it told the Bombay Stock Exchange.
Reuters
*********
Fortis Health buys stake in Bangalore hospital
Mumbai: Hospital chain Fortis Healthcare Ltd on Friday said it had acquired a majority stake in Bangalore-based Apollo RM Hospital, widening its presence in south India.
Fortis did not disclose the financial details but said Apollo RM was a 100-bed multi-speciality hospital, which could be expanded to 200 beds.
Reuters
*********
SC grants bail to Ansal brothers
New Delhi: The Supreme Court on Friday granted bail to the Ansal brothers—Sushil and Gopal—who were convicted and sentenced to one year imprisonment in the Uphaar fire tragedy case.
A bench, headed by justice S.B. Sinha, also issued notices on the cross appeals filed by the Ansals and Association of the Victims of the Uphaar Tragedy challenging the one year sentence imposed on the accused by the Delhi high court.
The bench ordered that the Ansal brothers be released on the personal bond of Rs 10,000 each.
PTI
*********
Daiichi Sankyo posts $3.7 bn Q3 loss
Tokyo:Daiichi Sankyo Co. Ltd, Japan’s third largest drugmaker, posted a $3.7 billion (Rs18,130 crore) quarterly loss and forecast its first annual loss, hit by a slide in the value of its stake in India’s Ranbaxy Laboratories Ltd.
It also said it doubted it would be able to launch its closely watched blood thinner prasugrel, jointly developed by Eli Lilly, before April in the US.
It incurred a net loss of 331.8 billion yen (Rs18,250 crore) in the three months to December, compared with a 36.2 billion yen profit a year ago. Revenues shrank 12% on a stronger yen and government mandated price cuts.
Ranbaxy last week reported a net loss for the second straight quarter and also for 2008. But Daiichi Sankyo said it expects Ranbaxy to swing back into the black in 2009.
Reuters
*********
Indian Oil net rises 42% in December quarter
New Delhi/Mumbai: Indian Oil Corp. Ltd, the nation’s biggest refiner, said third-quarter profit rose 42%, boosted by government compensation for selling fuels at controlled prices.
Net income in the three months ended 31 December rose to Rs2,960 crore from Rs2,090 crore a year earlier, New Delhi-based Indian Oil said in a statement to the Bombay Stock Exchange on Friday. Sales rose 4% to Rs60,880 crore.
Bloomberg
*********
Tata Tea net falls on higher costs
New Delhi: Tata Tea Ltd, the owner of brands such as Tetley, said group third-quarter profit declined 69% on higher raw material prices and a one-time gain in the year-earlier period.
Net income declined to Rs396 crore in the three months ended 31 December from Rs1,290 crore a year earlier, the Kolkata, India-based Tata Tea told the Bombay Stock Exchange on Friday.
Bloomberg
*********
Ceat posts Q3 net loss; expects profit in Q4
Mumbai: Tyremaker Ceat Ltd osted a net loss of Rs21.64 crore in October-December, hit mainly by high input costs.
In the year ago quarter Ceat had posted a profit of Rs19.2 crore.The company’s sales rose about 4% on year to Rs580 crore despite a slowdown in the automotive sector as Ceat has a large exposure to the auto replacement segment, said managing director Paras Chowdhary.
Reuters
*********
TV18 posts Oct-Dec loss, says outlook grim
Mumbai: Television Eighteen India Ltd posted a net loss for the December quarter on high interest costs and poor performance of its news and web divisions and expects the weakness to continue in the January-March quarter as well.
The firm posted a consolidated net loss of Rs30.17 crore, compared with a profit of Rs8.46 crore a year ago while total revenue grew about 16% to Rs130 crore, it said late on Thursday.
TV18 also said Web18 Holdings Ltd has submitted draft registration to the US Securities and Exchange Commission for a proposed initial public offering of American depository shares.
The offer is expected to commence as market conditions permit, TV18 said, adding that the number of ADSs proposed to be offered have not yet been determined.
Reuters
*********
IOB Q3 net rises 26% to Rs388.43 crore
Mumbai:Indian Overseas Bank (IOB) said on Friday that its net profit for the third quarter ended 31 December rose by 26.03% to Rs388.43 crore.
The company had a net profit of Rs308.18 crore for the year-ago period, the bank said in a filing to the Bombay Stock Exchange. Its total income climbed to Rs3,204.90 crore for the quarter under review, against Rs 2,295.34 crore in the same period last fiscal.
PTI
*********
Aban Offshore posts fourfold growth in Q3
Mumbai: Offshore drilling services provider Aban Offshore Ltd shore on Friday said its December quarter consolidated net profit grew fourfold to Rs256.34 crore over the corresponding period a year ago.
The firm had a consolidated net profit of Rs62.20 crore in the December quarter last fiscal.
PTI
*********
Pyramid Saimira posts Rs74.74 cr net loss
Mumbai: Entertainment firm Pyramid Saimira Theatre Ltd on Friday said its net loss in the December quarter stood at Rs74.74 crore, while it had a net profit of Rs29.86 crore in the same quarter a year ago.
Total income of the company also declined to Rs137.94 crore in the latest quarter from Rs231.41 crore last in the same period last fiscal, Pyramid Saimira Theatre said in a filing to the Bombay Stock Exchange.
PTI
*********
Mundra Port Q3 net up 92% at Rs 100 cr
Mumbai:Mundra Port and Special Economic Zone Ltd on Friday reported a 92.23% growth in net profit at Rs100.81 crore in the third quarter ended 31 December, 2008.
The company had a net profit of Rs52.44 crore in the December quarter of fiscal 2008, the Adani Group-promoted Mundra Port said in a filing to the Bombay Stock Exchange.
PTI
*********
OBC third quarter net rises 82% to Rs252.19 cr
New Delhi: Public-sector lender Oriental Bank of Commerce (OBC) on Friday reported a 82.11% growth in net profit at Rs 252.19 crore for the third quarter ended 31 December.
The state-run bank had a net profit of Rs138.48 crore in the year-ago period, OBC said in a statement. Its total income rose 42% to Rs2,718.20 crore in the third quarter of the current fiscal, from Rs 1,915.28 crore in the corresponding year-ago period.
PTI
*********
GMR Infra Q3 net down 36% to Rs40.84 cr
Mumbai:GMR Infrastructure Ltd on Friday said its consolidated net profit dipped 36.25% to Rs 40.84 crore for the third quarter ended 31 December.
The company had a net profit of Rs64.07 crore for the same quarter FY in the year-ago period, GMR Infrastructure said in a filing to the Bombay Stock Exchange.
PTI
*********
Hindalco profit beats estimates after slashing
Mumbai:Hindalco Industries Ltd, India’s biggest aluminum producer, posted a better-than-expected third-quarter profit after slashing costs amid a drop in metal prices.
Net income, excluding unit Novelis Inc., was little changed at Rs545 crore in the three months to 31 December, the company said Friday in a statement to the Bombay Stock Exchange.
As of 31 December, Hindalco had a mark-to-market loss of Rs323 crore on derivative instruments related to hedging transactions.
Bloomberg
*********
Indiabulls real estate Q3 net dips 96% to Rs11 cr
Mumbai:Indiabulls Real Estate Ltd on Friday reported a 96.25% decline in consolidated net profit at Rs11.32 crore for the quarter ended 31 December 2008. The company had a net profit of Rs 302.26 crore for the quarter ended December 31, 2007.
Total income of the company on a consolidated basis decreased to Rs 95.28 crore for the December quarter of this fiscal from Rs 491.81 crore a year ago, the company said in a filing to the Bombay Stock Exchange.
PTI
*********
PNB net up 86% to Rs1,006 cr in Q3
New Delhi: State-run Punjab National Bank on Friday reported 85.76% growth in net profit at Rs1,005.82 crore for the third quarter ended 31 December.
The country’s second largest public sector lender had a net profit of Rs541.45 crore in the December quarter, PNB said in a statement. The bank’s net interest margin stood at 3.85% at the end of December 2008.
PTI
*********
Omaxe net dips 96.17% to Rs5.89 crore
Mumbai: Real estate developer Omaxe Ltd on Friday reported a 96.17% decline in its consolidated net profit at Rs5.89 crore for the third quarter ended 31 December. The firm had a net profit of Rs154.16 crore in the third quarter of the 2008 fiscal, Omaxe said in a filing to the Bombay Stock Exchange.
PTI
*********
Sun Pharma Q3 net profit up 28%
Mumbai:Sun Pharmaceutical Industries Ltd posted a 28% growth in net profit for the third quarter, missing analysts’ expectations as higher sales in Europe and India were tempered by slowing revenues from the US.
Net profit increased to Rs408.64 crore in the October-December period, from Rs318 crore in the year-ago quarter, the company said in a statement.
Five sector analysts polled by Mint had predicted more than a 40% growth in Sun Pharma’s third-quarter net profit due to an expanded generic portfolio coupled with a change in the product mix in favour of high margin exports.
Sun Pharma’s overall sales increased 14% to Rs918 crore from Rs804 crore earlier, though its US revenues were affected slightly because of a fall in the sales of its key gastric disorder drug Pantaprazole. Sales in non-US markets including India and Europe grew at 38% during the quarter, a Sun Pharma spokesman said.
C.H. Unnikrishnan
*********
Comment E-mail Print Share
First Published: Fri, Jan 30 2009. 11 03 PM IST