#fy13

[smartmeindia-blog]

Hike in MSPs in July was well below ones announced in FY09 & FY13: RBI

Hike in MSPs in July was well below ones announced in FY09 & FY13: RBI

MSP on common variety of rice was hiked by Rs 200, along with other crops like cotton, and pulses like tur and urad. (Reuters)

The hike in minimum support prices (MSP) for kharif crop announced in July by the Narendra Modi Government was “well below” the ones effected under the previous UPA Governments in 2008-09 and 2012-13, the Reserve Bank has said.

The government had announced the hike…

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[smartmeindia-blog]

NABARD Survey: Farmer income grew 37 percent between FY13 and FY16

NABARD Survey: Farmer income grew 37 percent between FY13 and FY16

More than 88% of rural households now have bank accounts, but only about 24% of them use ATM services at least once in three months, according to a survey by Nabard.

More than 88% of rural households now have bank accounts, but only about 24% of them use ATM services at least once in three months, according to a survey by Nabard. Just 7.4% of these households use debit or credit card and…

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[rikenmehta]

Crompton Greaves Q4 net plunges 75% to Rs 25 cr

Riken Mehta Moneycontrol Bureau Engineering major Crompton Greaves fourth quarter consolidated net profit plunged 75 percent to Rs 25.3 crore from Rs 100 crore, a year ago on account of higher expenses. The company posted 10 percent growth in its net sales at Rs 3387 crore compared to Rs 3087 crore in the same quarter last fiscal. Total expenses of the company also shot up by more than 13 percent from Rs 2928.07 crore to Rs 3354.69 crore, mainly on higher inventories which accounted for Rs 176.92 crore. The bottomline figure would have been much less if not aided by higher other income of Rs 5.14 crore (previous year Rs 31 lakh) and tax reversal of Rs 7.77 crore (previous year tax expense of Rs 39.63 crore). The interest cost also shot up from Rs 13.94 crore to Rs 20.82 crore. The earnings before interest, tax, depreciation and amortization (EBIDTA) also more than halved to Rs 77.9 crore from Rs 213 crore in the previous fiscal. EBITDA margins were also down by 460 basis points to 2.3 percent from 6.9 percent earlier. Shares of Crompton Greaves closed at Rs 96.85, down 1 percent on Friday.