Akzo Nobel net profit jumps to Rs 238 cr in Q4
Kolkata, May 10: Paints major Akzo Nobel India on Thursday reported more than three-fold jump in its standalone net profit to Rs 238 crore in the quarter ended March 31, 2018 as compared to Rs 73 crore in the corresponding period of previous year.
Revenue from operations, in the quarter under review, was at Rs 772 crore, up by about 10 per cent from Rs 705 crore in the corresponding quarter of the previous year on a comparable basis.
The paint maker also said its net profit including exceptional items was at Rs 401 crore in 2017-18 as compared to Rs 247 crore in the previous year.
"Operating in a challenging business environment, we have delivered improved performance both in terms of revenue and profit. Transition to GST and high raw material costs impacted business performance. We continued our focus on product innovations, operational excellence programmes and commitment to sustainability," its Managing Director Jayakumar Krishnaswamy said.
Company Chairman Amit Jain said that 2017-18 has been a year of transformation for the paint maker following the separation of specialty chemicals business.
A share buyback programme has been initiated for the benefit of the public shareholders of the company and the Board has recommended a dividend of Rs 22 per share.
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7 killed after bus overturns in Jharkhand's Hazaribag
Hazaribag (Jharkhand), Nov 21: At least seven people were killed and several others injured on Thursday, after a Patna-bound bus overturned in Jharkhand's Hazaribag district, police said.
The accident occurred near Gorhar Police Station area, around 50 km from the district headquarters, as the bus turned turtle while negotiating a sharp bend, a senior officer said.
Hazaribag SP Arvind Kumar Singh told PTI seven persons were killed, while some suffered serious injuries.
There were around 50 passengers in the bus, which was on way to Patna from Kolkata, another officer said.
Motichand Prasad, a passenger, said his wife Rajkumari Prasad was killed in the accident.
"We were asleep when the accident occurred in the morning. We boarded the bus in Kolkata on Wednesday for Bihar," Prasad, a resident of Bihar's Gopalganj, said.
Another passenger from Bihar Sharif, Ganesh Kumar, said the incident took place around 6 am.
"As the driver tried to negotiate a sharp bend, he lost control over the bus and the vehicle overturned," Kumar said.
A police officer present on the spot said around 10 injured people were in critical condition.
Sub-divisional Police Officer (SPDO), Barhi, Ajit Kumar, said only three bodies could be identified so far – Rajkumari Prasad (55), Niti Samanta (25) and Ejaz Ahmed (40).
“Four other bodies are kept at the morgue of Sheikh Bhikhari Medical College and Hospital (SBMCH) at Hazaribag for identification,” he said.
Three critically injured persons were referred to Ranchi’s RIMS, while the others were being treated at SBMCH.
In a separate incident under the same police station area, two youths were crushed to death by a bus coming from behind.
The deceased were identified as Amit Kumar and Pappu Kumar, who were on a motorcycle when the bus struck the vehicle, an officer said.
