NAlCO’s Q3 net profit jumps by 171%
National Aluminium Company limited (NAlCO), the Navratna PSU, under Ministry of Mines, Govt. of India and country’s leading manufacturer and exporter of alumina and aluminium, has declared its financial results for & upto 3rd quarter ended December 2017. According to the reviewed financial results for the 3rd quarter of the financial year 2017-18 taken on record by the Board in the meeting held at Bhubaneswar on Saturady, NAlCO has achieved a record net profit of Rs 722 crore (growth of 207per cent), as against Rs 235 crore in the preceding quarter and Rs 144 crore in the corresponding quarter of previous fiscal. The net sales in the 3rd Quarter was Rs 2,360 crore. With this, the company has been able to break the highest-ever net profit figures in a quarter during the last ten years. Similarly, the net profit for the 9 months ended December 2017 works out to Rs 1,085 crore (growth of 171per cent), against the corresponding figure of Rs 400 crore for the previous fiscal. The net sales for the 9 months of the fiscal are Rs 6,538 crore as compared to Rs 5,071 crore in the corresponding period of the last financial year. NAlCO has also achieved record growth in production in all fronts. During the first nine months of the current fiscal, NAlCO achieved production of 54.40 lakh tonnes of bauxite, as compared to 53.23 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 15.51 lakh tonnes of alumina hydrate, against 15.27 lakh tonnes achieved in the corresponding period of the previous financial year.
Salient Features on Northern Rly Budget 2018-19
1.Doubling works of Phapamau-Unchahar via Kunda Harnamganj (200 Km) and Amritsar- Chheharta (7 Km) has been sanctioned at a total cost of Rs 1600 crores and 29 crores respectively. The outlay for the year 2018-19 is Rs 22.50 crores.
2.New line work of approx Rs 1900 crores has been sanctioned for Northern Railway.
3.Modernization of Signalling system by providing ETCS level II Technology over Northern Railway at an approx cost of Rs 9000 crores as part of improvement of signalling system over Indian Railway. The outlay for the year 2018-19 is Rs 565 crores.
4.Replacement of Old Mechanical signalling by Electronic Interlocking at 53 stations at an approx cost of Rs 398 crores.
5.Work of provision of WI-FI Internet facility at 25 ‘B’ Category stations over Northern Railway at a total cost of Rs 10 crores as a part of provision of WI-FI Internet facility over Indian Railway.
6.Provision of CCTV in 4038 coaches of Premium Trains (Rajdhani, Shatabdi and Duronto) at a total cost of Rs 154 crores (Nirbhaya Fund) over Indian Railway.
7.Provision of Video Surveilllance System at 1589 stations of Northern Region at a cost of Rs 365 crores (Nirbhaya Fund)
8.Provision of Video Surveillance System at 234 nos. ‘F’ Category stations over Northern Railway at an approximate cost of Rs 5 crores (Nirbhaya Fund) as part of provision of Video Surveillance System over Indian Railway..
9.Provision of about 260 nos. escalators and about 100 lifts at a cost of Rs 260 crores and 40 crores respectively over Northern Railway as a part of providing passenger convenience over Indian Railway.
SCHEMES of dept of CONSUMER AFFAIRs unveiled
Consumer Awareness (Publicity): Making Consumers aware of their rights and duties through electronic, print and outdoor publicity. Giving grants to States/UTs for Consumer Awareness.
Consumer Protection: Computerization and Computer networking of Consumer Fora throughout the country through NIC. Providing grants to States/UTs for setting up of Consumer Fora at District and State/UT level and establishing Consumer Counselling and Mediation Centres. Providing grants to States/UTs for establishing Consumer Helplines.
legal Metrology/Weights & Measures: Providing grants to States/UTs for setting up of Working Standard/Secondary Standard laboratories and Tank lorry Towers. Providing Machinery to States/UTs for Strengthening their Weights and Measures Infrastructure. Strengthening existing 5 Regional Reference Standards laboratories by providing Machinery/Infrastructural support and establishment of two new RRSls, One at Varanasi and one at Nagpur. Providing training in legal Metrology to legal Metrology Officers of States as well as from outside the country in only legal Metrology Institute at Ranchi. Time dissimation.
Bureau of Indian Standards: Setting up of Standards at National/International level. Quality certification and marking etc. of various products. Providing financial support to entrepreneurs for setting up of Gold Hallmarking/Assaying centres in India.
National Test House : Quality testing and evaluation of Industrial and Consumer Products, Calibration of artifacts, training and consultancy on test methodologies to industrial professionals and students.
Strengthening Price Monitoring Cell: Collection of data of prices of essential commodities from various states on daily basis. Providing infrastructural support to States/UTs for establishment of prices data collection centres. Assisting NIC by providing infrastructural support for collection of data of prices.
Price Stabilization Fund: This fund has been transferred to this Ministry from this financial year from the Ministry of Agriculture. This has been created to support market intervention for price control of perishable agri-horticultural commodities mainly Potato, Onion and pulses.
Consumer Welfare Fund (CWF): This fund has been created under the Central Excise and Salt Act 1944 where the money that is not refundable to manufacturers, etc. is credited. From this fund, grants are released to State Governments/UTs and Voluntary Consumer Organizations (VCOs) for strengthening consumer Movement.
Pradhan inaugurates PNG Supply in BSF Campus
Union Minister for Petroleum and Natural Gas and Skill Development & Entrepreneurship, Dharmendra Pradhan on Saturday inaugurated the PNG supply to kitchens in the Campus of Border Security Force (BSF), located in Chhwala in South West Delhi. Also present on the occasion were KK Sharma, Director General, BSF, ES Ranganathan, Managing Director, Indraprastha Gas limited (IGl), senior officials of BSF, IGl and media persons. Dharmendra Pradhan in his address on the occasion expressed gratitude to BSF for defending the borders of the nation and added that the nation of 125 crore is able to sleep peacefully because of BSF which is deployed at the first line along the borders of the nation. He assured full support from his Ministry towards all endeavours of BSF and added that supply of PNG to BSF campus in Chhawla is a step towards making lives of BSF personnel easier so that they don’t have to depend on refill of lPG cylinders. Congratulating BSF on its various social initiatives, especially skill development for differently abled, he called upon BSF to start skill development programmes for retired personnel, women and children so that they learn the skills they want and that can also add to their incomes. Earlier,KK Sharma welcomed the guests and highlighted the role of BSF in guarding the borders and various social initiatives being taken by it towards nation building.
Andhra Bank’s ‘MSME Mitra’ for financing GST receivables -- a Boon for MSME Units
Addressing the Exporters and Importers at the Exporters-Importers Meet organised by Andhra Bank this evening at The Park, Kul Bhushan Jain, Bank’s Executive Director, dwelled on the various Entrepreneur-friendly products of the Bank. He highlighted the recently launched MSME Mitra allowing Advance against GST Receivables, for facilitating ease of doing business. He said, Andhra Bank is one of the first to launch this flagship scheme to mitigate the short term liquidity crunch being faced by fund-starved MSME Units awaiting GST receivables. He interacted with the import and export customers present and clarified various issues raised by them. Addressing the cross section of Export-Import Customers drawn across the local Branches covering 101 Branches in the NCR region of the Bank, the Chief Guest of the eventNitish Suri, ITS, Deputy Director General of Foreign Trade, threw light on the various policy issues concerning foreign trade and new initiatives, logistics to promote export. While assuring the Exporting community of hassle-free resolution of claims for all genuine transactions, Regional Manager of ECGC, Northern Region, Sri Ishnath Jha underscored the various measures initiated by ECGC in recent times for easing the systems and procedures to make it more user-friendly.