GAIL acquires 5% stake in Indian Gas Exchange
New Delhi: GAIL (India) Limited has signed a Share Purchase and Shareholders Agreement (SPSHA) with IGX and Indian Energy Exchange Limited (IEX), the promoter and parent company of IGX for acquisition of 5% equity stake in Indian Gas Exchange Limited (IGX).
Govt relaxes rules for family pension to survivors
New Delhi: Government has issued instructions to liberalise the income criteria for eligibility of a child/sibling of a deceased Government servant/pensioner for grant of family pension under CCS (Pension) Rules, 1972. The relaxation is granted for family pension to disabled survivors as they require greater medical careand financial assistance. The Government is of the view that the income criteria for eligibility for family pension, applicable in the case of other family members, may not be applied in the case of a child/sibling suffering from a disability.
GAIL PAT jumps 20% to Rs 1,487 cr in Q3
New Delhi: GAIL (India) Limited recorded 13% increase in turnover to Rs 15,386 crore vis-a-vis Rs 13,611 crore in Q2 FY21. Profit before Tax (PBT) increased by 20 per cent to Rs 1,868 crore as against Rs 1,550 crore in Q2 FY21. The Profit after Tax (PAT) increased by 20 per cent to Rs 1,487 crore in Q3 vis a vis Rs 1,240 crore in Q2 FY21. Both physical as well as financial performance of the company improved further across all major segments in Q3 as compared to Q2 FY21. The Physical Performance improved by 4 per cent in Natural Gas Transmission, 8 per cent in Gas Marketing, 3 per cent in LPG Transmission, 3 per cent in Petrochemical Sales and 8 per cent in Liquid Hydrocarbon Sales.
RITES Q3 FY21 Revenue Rs 480 cr, PAT Rs 105 cr
Gurugram: RITES Ltd. (NSE: RITES, BSE: 541556), the leading Transport Infrastructure Consultancy and Engineering company, reported its standalone and consolidated financial results for the Quarter and Nine Months ended on 31st December, 2020. The consolidated revenue in Q3FY21 has decreased to Rs 480 crore as against Rs 663 crore in Q3 FY20 on account of export deliveries not scheduled during this quarter (approx. impact of Rs 90 crore) and restrictions imposed due to pandemic. Similarly, operating revenue, excluding other income, stands at Rs 449 crore in Q3 FY21 as against Rs 620 crore in Q3 FY20. EBITDA and PAT stand at Rs 159 crore and Rs 105 crore against Rs 214 crore and Rs 150 crore, respectively, in Q3 FY20.
LIC’s pension scheme fetch over Rs 1l cr of premium
New Delhi: LIC pension and group schemes vertical, looking after group schemes and superannuation business of the corporation created a record by clocking more than one lakh crore premium income during the first 10 months of the current financial year 2020-2021. This is first time ever any single vertical of the insurer has crossed such a gigantic premium income figure successively for two years. Pension and group schemes vertical of LIC provides employees retiral funds' management solution to the who's who of India Inc and has been steadily holding around 80 per cent market share in new business premium post opening of the life insurance industry.
DDA unveils budget, Narela gets big boost
New Delhi: DDA unveils a sustainable development oriented Budget, Narela gets a big boost. DDA, in its meeting held on Wednesday, chaired by the Lt. Governor, NCT Delhi approved the annual Budget for 2021-22, with an annual outlay of Rs 6,738 crore and receipts have been projected at Rs 6,749 crore. A significant component of the expenditure is earmarked for Narela sub city Development Area. Significant allocations have also been made for transport infrastructure projects such as grant to DMRC towards construction of Phase -IV metro line for Rithala-Bawana-Narela corridor and construction of UER -II stretch in Delhi through NHAI.