Technical textiles maker Garware Wall Ropes (GWRL) today posted 43.3 per cent growth in profit after tax during the quarter ended December 31, 2015 at Rs 14.60 crore, compared to the same period of the previous year.
GWRL's PAT stood at Rs 10.19 crore in the corresponding period of FY15, the company said in a release issued here.
The company's sales were almost flat at Rs 185.46 crore during the quarter, as compared to Rs 184.60 crore in Q3 of FY15.
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Tata Power synchronises second unit of Kalinganagar proj * Tata Power today said that it has synchronised the second 67.5 MW unit of its IEL Kalinganagar project.
"Tata Power...Through its joint venture company Industrial Energy Ltd (IEL) today announced that the company has synchronised the second 67.5 MW Unit of its 3 x 67.5 MW IEL Kalinganagar project," the company said in a statement.
With this, Tata Power's total generation capacity has increased to 9,100 MW from the previous 9036 MW, it said.
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LT Foods Q3 net profit up 68%
* Basmati rice processor LT Foods today reported increase in consolidated net profit by 68 per cent to Rs 18.52 crore in the third quarter of this fiscal.
The company, which markets rice under the 'Daawat' brand, had posted a net profit of Rs 11.03 crore in the year-ago period, it said in a BSE filing.
The consolidated net income of the company rose to Rs 726.79 crore in the October-December quarter of 2015-16 fiscal from Rs 709.24 crore in the same period last year.
Shenzhen announces competition for startups
* The City Government of Shenzhen, China has brought to India the first ever China (Shenzhen) Innovation and Entrepreneurship International Competition.
Touted as the biggest prize in startup competitions of its kind, the largest prize money for innovation and startup ideas will fetch the winner RMB 1,000,000 (approximately Rs 1 crore), among others.
Besides India, other centres of global innovation and entrepreneurship that shall be battling it out for top honours include Australia, Canada, Germany, Israel, Japan and US.
The competition is supported by the Ministry of Science and Technology, Government of China.
The India Region Round of the competition shall be organised by Sino India Trade and Culture Promotion Council.
