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Indian Rayon: Now, Aditya Birla Nuvo!

Sep 12, 2005

The Aditya Birla Group, a Rs 330-bn conglomerate, involved in businesses ranging from metals, fertilisers, textiles, IT-ITES, finance and life insurance, is merging two of its group companies, Birla Global Finance (BGF) and Indo Gulf Fertilisers (IGF) with Indian Rayon. The consolidated entity will be rechristened Aditya Birla Nuvo and will have Rs 60 bn in consolidated revenues.

Sundaram Finance: Nothing new

Dec 19, 2001

Sundaram Finance (SFL) continues to take a hit on its bottomline. After having reported a 15% fall in the first quarter earnings, the company's profits in the second quarter dropped by 21%. Its topline too remained flat. Tough economic environment has severely impacted the company's first half performance.

KMFL: Signs of improvement

Nov 23, 2001

Kotak Mahindra Finance Limited (KMFL) managed to trim the drop in earnings by cost cutting measures. The company reported a 19% fall in FY01 profits on the back of a 23% decline in income from operations.

KMFL's dismal performance in 1Q

Aug 14, 2001

Kotak Mahindra Finance Limited (KMFL) reported dismal performance in the June quarter. The company's earnings dropped by 9% on the back of a 157% jump in provisions for non-performing assets (NPAs). Topline growth of KMFL was a marginal 7%. Nevertheless, it was better than a 22% fall in FY01 revenues.

Sundaram Finance: 1Q profits dip by 15%

Aug 1, 2001

Sundaram Finance (SFL) has posted a 15% fall in earnings for the June quarter. The company's topline too grew by a marginal 5%.

Competition hits KMFL's FY01 profits

Jul 2, 2001

Kotak Mahindra Finance Limited (KMFL) has clocked a 19% drop in FY01 profits on the back of a 23% decline in income from operations. Subdued topline growth indicates strong competition from banking companies and financial institutions, which have also entered into car financing and personal finance segments.

Sundaram Finance: Outstanding results

Jun 26, 2001

Sundaram Finance (SFL) has beaten the industry trend by declaring a 37% jump in net profits for the year ended March '01. The company's topline too grew by about 16%. The company has recorded positive growth inprofits after an interval of two years. In FY99 and FY00, its earnings declined by 17% and 19% respectively.

"Our subsidiaries are expected to account for major part of revenues in the next 3 years."

Jun 2, 2001

In an interview with Mr. Gupta spoke of the trend in the non-banking finance sector (NBFC) and the management's future business plans for the company.

Kotak Mahindra: Betting on subsidiaries

May 25, 2001

Non-banking finance (NBFC) sector is facing tough times with increasing competition from banks and financial institutions. Very few NBFCs have survived in the last decade and Kotak Mahindra Finance Ltd. (KMFL) is one of them.

Kotak Mahindra's disappointing 3Q performance

Jan 16, 2001

Kotak Mahindra Finance has reported a marginal growth in net profits for the quarter ended December 2000.

Birla Global: Future driver?

Dec 12, 2000

Birla Global Finance (BGF), an Aditya Birla Group company, has reported an excellent performance for the year ended March 2000. The company’s bottomline was fueled by a surge in extraordinary income. The income was from the sale of its retail distribution business to a joint venture company formed in association with Sun Life Assurance Company of Canada. This strategic move has earned the company profits of Rs 441 m (94% of profit after tax).

Car finance companies to reduce lending rates

Feb 11, 2000

In the next few days many car finance companies are expected to reduce their lending rates. Currently lending rates in this segment hover around 17%-18% and these are expected to fall to 15%-16% in the near future.

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