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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Goldy Brar not the victim in Fresno shooting: Police in California
Washington, May 2: Police in the US state of California have dismissed reports that the victim of a shooting incident in Fresno city was Canada-based terrorist Satinderjit Singh alias Goldy Brar, who was the alleged mastermind in the murder of Punjabi singer Sidhu Moosewala, according to a media report.
Fresno Police on Wednesday identified the man killed in an alley at Fairmont and Holt avenues as 37-year-old Xavier Gladney in a gang-related interpersonal dispute.
Police on Wednesday also said the incident was not connected to a case involving a reputed gang killing in India, The Fresno Bee newspaper reported.
Speculative reports in Indian media on Wednesday claimed the victim was Brar, a suspect in the killing of Moosewala, it said.
Fresno Police said the department was receiving several calls from international media and that officers were working to debunk any connections between the slayings, the paper said.
Police officers at 5:30 pm on Tuesday at the alley at Fairmont and Holt after receiving information about a shooting incident.
Officers arrived and found Gladney with a gunshot wound. He was taken to Community Regional Medical Center where he was pronounced dead. A 13-year-old was also dropped off at the hospital with a non-life-threatening wound.
Fresno Police Lt. Paul Cervantes on Wednesday said the teen was at the location where shots were fired. Homicide detectives have identified the alleged shooter as 33-year-old Darren Williams.
Cervantes said a warrant has been issued for Williams’ arrest on suspicion of murder and assault with a deadly weapon The motive is a gang-related interpersonal dispute, Cervantes said.
An activist of the banned Babbar Khalsa International, Brar has been involved in the smuggling of high-grade arms, ammunition and explosive materials through drones from across the border and supplying them for carrying out killings and also providing sharpshooters.
He hails from Sri Muktsar Sahib in Punjab and is reportedly residing in Brampton, Canada.
He was designated a terrorist by the Indian government under the anti-terror law, Unlawful Activities (Prevention) Act, this year.
In a notification, the Union home ministry said Brar, backed by a Pakistan-based agency, has been involved in multiple killings and professes radical ideology.
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