Mindteck Reports Profit for Q1 2014-15
Business Wire India
August 14th, 2014
0

Bangalore, Karnataka, India
Mindteck (India) Limited (BSE: MINDTECK), a global technology company, today reported its unaudited financial results for the first quarter ended June 30, 2014. The Company’s consolidated revenues for the quarter stood at Rs. 82.41 crore as against Rs. 76.30 crore for the corresponding quarter of the previous year ended June 30, 2013, registering a growth of 8%. Net profit for the quarter stood at Rs. 4.97 crore as against Rs. 3.26 crore for the corresponding quarter of the previous year, registering a growth of 53%. Mindteck continues to focus on strategic investments in R&D, and product innovation will remain as one of its top priorities in the coming quarters. Through its recently formed R&D initiative, the company has launched two innovative systems: IGNITE, an Energy Management System

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CG Q1FY15 Consolidated Net Profit Up 7% at Rs 64 Crore Revenue Up 8% to Rs 3,442 Crore
Business Wire India
August 6th, 2014
0

Mumbai, Maharashtra, India- Business Wire India
Highlights for Q1FY15 Vs Q1FY14      
  • Order intake stood at Rs. 2,899 crore up 12.5%
  • Consolidated revenue for the quarter up 8 % to Rs. 3,442 crore
  • Net profit rose by 7% to Rs. 64 crore
  • Earnings per share (EPS) at Rs. 1.02 as against Rs 0.94
Avantha Group Company CG reported Consolidated Revenue of Rs. 3,442 crore for the quarter ended June 30th 2014 up 7.7 % as against Rs 3,195 crore on June 30th, 2013. The net profit for the period stood at Rs 64 crore up 6.6% as against Rs 60 crore in Q1FY14. CG bagged orders worth Rs. 2,899 crore in Q1FY15 and the UEOB (Un-executed order backlog) stood at Rs. 9,585 crore. Commenting on the results, Avantha Group Company CG’s CEO and Managing Director Laurent

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Madhya Pradesh plans India’s largest Solar Power Plant
Kshitij Dhingra
August 1st, 2014
0

Plans are afoot to set up the country's largest ultra mega solar power plant (UMSPP) in Madhya Pradesh's Rewa district, a senior official said today.

The plant, to produce 700 MW of electricity, would require an investment of Rs 4,000 crore, State's Additional Chief Secretary for New and Renewable Energy SR Mohanty told PTI.

The electricity from the plant would be available at Rs 5.40 paise per unit, which would be the lowest in the country, Mohanty said.

The state government would set up the plant as a joint venture with the Ministry of New and Renewable Energy, Power Grip Corporation and the Solar Energy Corporation of India, he said.

Thirteen hectares of land spread over four villages of Barseta, Ramnagar, Latar and Badwaar has been chosen for locating the plant in Gurh tehsil of Rewa, which is the home district of state Energy

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UP plans to auction 300 MW solar power
Kshitij Dhingra
August 1st, 2014
0

India’s Uttar Pradesh state has invited companies to bid for contracts to build 300 megawatts of solar photovoltaic capacity.

Companies must submit their bids by Sept. 8, the Uttar Pradesh New and Renewable Energy Development Agency said in a notice on its website. Separately, the agency is planning another auction of 20 megawatts aimed at developers seeking smaller projects of less than 5 megawatts, Namrata Kalra, a project officer at the agency, said by phone today.

The northern state targets building 500 megawatts of photovoltaic capacity by 2017 under astate solar policy released last year. It has signed power purchase agreements with six developers, including Moser Baer India Ltd. (MBI) and Azure Power India Pvt., for 130 megawatts of capacity, agreeing to buy photovoltaic power at

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Rs 100-crore tender for solar pumpsets smells like a scam
Kshitij Dhingra
August 1st, 2014
0

Top officials catch engineers of Krishna Bhagya Jala Nigam blatantly trying to favour certain firms The process to award a solar pumpset supply contract worth Rs 100 crore by some engineers of the irrigation department has come under the scanner with top officials realising that it is a blatant attempt to favour particular companies. Officials have now issued a corrigendum and have changed the schedule pertaining to the tender. The tender, published on July 19 (Saturday), called for bids from contractors to install 1,000 solar system and drip irrigation systems in seven districts in North Karnataka — Bidar, Gulbarga, Yadgir, Raichur, Koppal, Bijapur and Bagalkot — all of which draw water from the Almatti. The tender was floated by Thirumurthy Raju, executive engineer, Krishna Bhagya Jala Nigam Limited (KBJNL) ARBC Division, Almatti. Usually in a tender process, contractors are given a minimum 45 days to post queries and submit bids. But in

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