Reliance Natural Resources Ltd (RNRL)'s a net profit of Rs 16 crore for the first quarter ended June 30, a 6.67 per cent growth from that in the corresponding period a year-ago. The firm had a net profit of Rs 15 crore in the first quarter of FY'08, RNRL said in a filing to the Bombay Stock Exchange. The total income rose 42 per cent to Rs 93 crore in the latest quarter, from Rs 65 crore in the same period last fiscal. However, the company's cash profit dipped by Rs 1 crore to Rs 16 crore during the quarter.
Reliance Natural Resources Ltd (RNRL)'s net worth stood at Rs 1,746 crore, while the earnings per share was at Rs 0.10 per piece, the filing added. The board has appointed Mr Anil Singhvi as an additional Director and Vice-Chairman of the company, the filing said.Shares of RNRL closed at Rs 95.50, down 3.34 per cent on the BSE.
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India's annual inflation rate is expected to have risen to 11.63 per cent in the week ended June 21, Indian media said on Friday.This would put the wholesale price index at 237.1 points, up from 236.1 points a week earlier.
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The government has rolled out an expanded farm debt waiver scheme, which will cost the exchequer a whopping Rs 71,600 crore, 20% higher than the initial estimate of Rs 60,000 crore. The scheme will now include more than four crore farmers and will also cover those with land holdings in excess of two hectares.
The expanded loan waiver scheme, which was announced in the Union Budget 2008-09, will now include farmers engaged in allied activities such as poultry, dairy farming. Direct agricultural loans taken under a Kisan Credit Card, as well as loans of self-help and joint-liability groups would also be covered. Farmers in drought-prone areas covered under the Prime Minister’s relief plan have also been included in the scheme. While small and marginal farmers are eligible for debt waiver, others are eligible for a one-time settlement (OTS) scheme. The government has also decided to waive off restructured loans, including those under the Vidharba package and calamity relief, whether or not they were overdue.
In a separate development, RBI has asked banks to take necessary steps to complete the debt waiver scheme by June 30.
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