Kirloskar Oil Engines (KOEL) Tuesday announced the elevation of RR Deshpande as the chief executive officer and managing director and Sanjeev Nimkar as the chief operating officer (COO) of the company with immediate effect.
Deshpande, a mechanical engineer, has been with KOEL for over 40 years, while Nimkar has been heading various core businesses of the company like power generation, industrial engines, Koel Care as well as the newly acquired Varuna Pumps, a release said.
********************** Manpasand Beverages Q2 net declines marginally to Rs 8.42 cr *
Homegrown fruit drinks maker Manpasand Beverages Tuesday reported a marginal decline in net profit to Rs 8.42 crore for the quarter ended September, from Rs 8.95 crore in the year-ago period.
Total revenue stood at Rs 177.92 crore during the quarter under review, against Rs 132.27 crore in the same quarter last fiscal, it said in a release.
The company said post the applicability of GST, revenue from operations is disclosed net of GST and accordingly, the revenue from operations and other expenses for the quarter are not comparable with the previous period.
********************* Aditya Birla Sun Life MF launches new debt fund *
Aditya Birla Sun Life AMC, a subsidiary of Aditya Birla Capital, Tuesday launched Aditya Birla Sun Life Overnight Fund, an open-ended debt scheme investing in overnight securities.
The new fund offer (NFO) opens on October 30 and closes on November 1, a release said.
The fund will invest in the money market and debt instruments of one day maturity. Owing to this strategy, the fund carries no duration risk and no credit risk, it said.
********************* Hind Rectifiers Q2 net at Rs 2.35 cr *
Hind Rectifiers Tuesday reported a net profit of Rs 2.35 crore in the quarter ended September, against a loss of Rs 0.76 crore in the year-ago period.
Net sales increased to Rs 59.44 crore, compared with Rs 24.12 crore last year, it said in a release.
Earnings per share (not annualised) for the quarter stood at Rs 1.43, while operating profit (EBITDA) stood at Rs 5.57 crore, against EBITDA of Rs 0.89 crore in the same period a year ago.
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