Increased royalty payments, rising input costs and
exchange rate fluctuations have resulted in Maruti
Suzuki India Ltd (MSIL) posting a modest 5 per
cent growth in profit for the quarter ending
However, driven by booming demand, net sales
rose 27 per cent, even as the car market leader
recorded the highest-ever unit sales for a quarter at
Q2 margin pressures
The company, majority owned by Japan's Suzuki
Motor Corporation (SMC), anticipates margin
pressures in the second half, which it would look
to reduce by controlling production costs and
increasing the localisation content of its products.
The Andhra Pradesh government is mulling to put a cap on the interest rates
charged by the microfinance companies through a new law, a top bureaucrat
The government, through an Ordinance promulgated earlier this month, has
asked the state microfinance institutions (MFIs) to furnish details of the
interest rates being charged by them and their area of operations.
According to the details available with the government, the average interest
rate charged by these MFIs range between 24-36 per cent. SKS Microfinance,
which courted controversies after sacking its MD & CEO Suresh Gurumani,
has informed the government that their effective rate of interest is between
28.87 and 31.08 per cent.
It can be noted that SKS recently said that it has reduced the interest rate
from 26.69 per cent to 24.55 per cent or flat 12.55 per cent.
Even as the Metro widened its network by adding two more stations on
Saturday — it extended its blue line from Noida and Anand Vihar to Dwarka
sector-21 instead of Dwarka sector-9 — the Metro railway police is in a
quandary. Though three new Metro police stations were expected to become
functional with the introduction of the Metro to Gurgaon and Sarita Vihar,
only one of them situated at the Yamuna Bank has become operational. Even
this police station has a skeletal presence as DMRC is yet to create a fully
operational room. "Most of the work is done from the Shakarpur police
station," said an officer. The two other police stations to come up at the Kalkaji
and the Qutub Minar Metro stations are yet to become functional at these
stations. At present, both of them are operating out of a single room at
Kashmere Gate. Sushil Bharadwaj who was travelling on the Sarita Vihar
route complained that it took him almost half a day to just lodge a complaint
after his voter's card was stolen. "The entire time was wasted just trying to
locate the Metro Railway station," he said.
National Aluminium Company Limited (NALCO) has
recorded an impressive increase in profit to Rs 224 crore
during second quarter of the current fiscal, showing a 40 per
cent surge compared to the corresponding period in the
According to the reviewed financial results for the second
quarter of 2010-11, Nalco has achieved higher net profit of
Rs.224.04 crore as against Rs.159.50 crore in similar quarter
of previous fiscal, company sources said here today.
Similarly, the sales turnover of the Navaratna PSU surged
by about 30 per cent to Rs.1548.75 crore over the
comparative quarter of last year, they said.