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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Bill to regulate deepfakes tabled in Lok Sabha
New Delhi (PTI): A Private Member's Bill seeking a clear legal framework for regulation of deepfakes has been introduced in the Lok Sabha.
The Regulation of Deepfake Bill, introduced by Shiv Sena leader Shrikant Shinde in the House on Friday, aims to protect citizens by mandating prior consent from individuals depicted in deepfake content.
"Misuse of deepfakes for harassment, deception and misinformation has escalated, creating an urgent need for regulatory safeguards," Shinde said.
The Bill also lists penalties for offenders creating or disseminating deepfake content with malicious intent.
"With advancements in artificial intelligence and deep learning, deepfake technology has emerged as a significant tool for media manipulation. While the technology has potential applications in education, entertainment and creative fields, it also poses severe risks when misused, threatening individual privacy, national security and public trust," Shinde said in the statement of objects and reasons in the Bill.
The proposed Bill seeks to establish a clear legal framework to govern the creation, distribution and application of deepfakes in India, said Shinde, a three-term Lok Sabha member from Kalyan.
The Bill also seeks to establish the Deepfake Task Force, a dedicated body to combat national security implications and evaluate the influence of deepfakes on privacy, civic participation, and potential election interference.
The task force will collaborate with academic and private sector institutions to develop technologies that detect manipulated content, thereby promoting credibility in digital media.
The Bill also proposes to establish a fund to support public and private sector initiatives in the detection and deterrence of advanced image manipulation.
A Private Member's Bill is a procedure of Parliament that enables lawmakers, who are not ministers, to draw attention to issues that might not be represented in Government Bills or to highlight the issues and gaps in the existing legal framework that require legislative intervention.
