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Eveready PAT at Rs 11.03crore
Eveready Industries India has recorded a profit after tax of Rs 11.03 crore in the third quarter ended December 31, 2009, an increase of 31 per cent over the same period last year on the back of higher sales. Net sales for the quarter stood at Rs 245.96 crore, an increase of 15 per cent. Prices of zinc, a key input material, was higher during the quarter compared to the same period last year, but was compensated by the appreciating rupee during the quarter. Battery and flashlights turnover registered a growth of seven per cent and 24 per cent during the current quarter. An overseas company, Everspark Hong Kong Private Limited has been incorporated by the company for commercial benefits on the company’s sourcing of input materials and goods from China.

Govt to take considerate view of per-sec billing model: Pilot
The government will take a considerate view of the telecom regulator Trai"s proposal to bill customers based on per second usage instead of the prevailing pulse system, Minister of State for Communications and IT Sachin Pilot today said.

News of the day

Essar's Shell acquisition may cost $1.2 billion
Ruias-controlled Essar Oil (EOL) is looking to seal a deal with Royal Dutch Shell at $1-1.2 billion (between Rs 4,670 and 5,600 crore) for acquiring the global petroleum giant’s three refineries in Europe. EOL has presented its valuation of assets to the Shell management and the negotiations are on verge of completion, said banking sources close to the development.
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Report on pharma innovation to be released at USIBC meet

A report identifying a broad range of potential benefits of incremental pharmaceutical innovation for India would be released later this week by the US India Business Council (USIBC). - Apex Court overrules HC order favouring Gufic Ltd - Novartis says produces first batch of H1N1 vaccine - Obama admin to unveil its India agenda at USIBC on June 17 - Protectionism, an issue of concern, needs to be resisted: USIBC - "Indo-US partnership more confident; but requires nurturing" - Zydus Cadila files anti-diabetic drug application with DCGI Commissioned by the USIBC and Coalition for Healthy India (CHI), and funded by the US Chamber of Commerce"s Innovation, Development and Employment Alliance, the report "The Value of Incremental Pharmaceutical Innovation: Benefits for Indian Patients and Indian Business" was produced by White & Case LLP and Dua Consulting. The report reasons that Section 3(d) of India"s Patents Act, which prevents incremental pharmaceutical innovations from receiving patent protection, inhibits development of safer, more efficacious, and more useful drugs for Indian patients. Drawing upon studies of the impact of incremental pharmaceutical innovations on the economies of developed and developing nations, interviews with key stakeholders in the Indian pharmaceutical sector, and other methods, the report identifies a broad range of potential benefits of incremental pharmaceutical innovation for India.


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