The Department of Financial Services director Anindita Sinharay was today appointed as government's nominee director on the board of the private sector lender IDFC Bank.
Sinharay is a 2000-batch officer of Indian Statistical Service and has served in the National Accounts Statistics in Central Statistics Office (CSO) previously.
The government was holding a 7.7 per cent stake in the newest private sector bank as of December 31, 2016. PTI AA Essel Propack net dips 8 per cent
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Mumbai: Essel Propack, which is into laminated plastic tubes catering to the FMCG & pharma segments, today reported an 8 per cent dip in net profit at Rs 37.9 crore in the December quarter due to low uptake by its key FMCG clients following the note ban.
Despite this total income rose 17 per cent to Rs 607.5 crore, driven by better sales in overseas markets, while the margins slipped to 16.4 per cent against 19.2 per cent last year due to the poor show by the domestic market.
"Net profit was impacted by one-off costs of Rs 1.38 crore due to India units consolidation and Colombia new plant ramp-up. The quarter could have been much better but for domestic growth stalling after note ban," it said in a statement.
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