India’s leading cement maker, ACC has reported Q2, 2014 net profit of US$40.1m, some 7% lower than the US$43.1m reported in the Q2, 2013. The fall in profit was attributed to higher total expenses. Total expenses increased by 10% during the quarter compared to year-ago period due to higher raw material and employee costs and increased power, fuel and freight charges. Other expenses grew by 8% year-on-year. Manufacturing and distribution costs continued to rise, though the company derived some benefits from the ongoing cost leadership program and an increase in the sales of premium products. Continue reading ACC cement company reports lower Net Profit Q2 2014
Category Archives: Infrastructure
KSK Energy Ventures to increase Wind Energy Projects in India
KSK Energy Ventures may raise funds up to Rs 1,200 crore debt to finance wind energy projects across India, according to sources. KSK Energy Ventures currently has about 71 MW wind energy projects under operation, is looking to set up additional 250 MW projects by the next wind season, which would be May 2012. It is believed that KSK is discussing with multiple suppliers, including Chinese suppliers like Dongfang, Shanghai Electric in China and Suzlon Energy in India, for the wind energy machinery.
The cost per MW of wind energy is about Rs 5.5 to 6 crore. So about Rs 1,500 crore would be required for this project on 80% debt and 20% equity basis. The company prefers to raise the debt though Dollar Denominated Debt, a source told PTI. Continue reading KSK Energy Ventures to increase Wind Energy Projects in India
Scheme of Arrangement between Reliance Infrastructure and its Subsidiaries
Reliance Infrastructure Limited has informed the Exchange that the equity shareholders of Reliance Infrastructure Limited, at their meeting convened pursuant to the Order of the Honble High Court of Judicature at Bombay, held on June 09, 2009 have approved the Scheme of Arrangement between the Company and its wholly owned subsidiaries Reliance Energy Generation Limited , Reliance Goa and Samalkot Power Limited, Reliance Power Transmission Limited, Reliance Energy Limited, Reliance Infraventures Limited and Reliance Property Developers Limited and their respective shareholders and creditors under Sections 391 to 394 of the Companies Act, 1956.
The votes cast in favour of the resolution approving the Scheme were 99.9993% of the total votes cast at the meeting. Further, the Company has submitted to the Exchange the Media Release dated June 09, 2009 titled “Shareholders of Reliance Infrastructure Limited approve the Scheme of Arrangement for Demerger of the following divisions of the Company:
i. Dahanu Thermal Power Station
ii. Goa and Samalkot Power Stations
iii. Power Transmission
iv. Power Distribution
v. Toll Roads
vi. Real Estate to the respective wholly owned resulting companies”.