New Delhi

Mindtree Q4 net up 87%

Mid-sized software services firm Mindtree on Wednesday reported more than 87 per cent growth in net profit at Rs 182.2 crore for the quarter ended on March 31, 2018.

It had posted a net profit of Rs 97.2 crore in the year-ago period, the firm said in a statement.

Its revenue rose by 11.1 per cent to Rs 1,464 crore in the January-March 2018 period from Rs 1,318.1 crore a year ago.

In dollar terms, net profit surged over 95 per cent to $28.2 million, while revenue grew 15.6 per cent to $226.2 million in the quarter under review.

Want to throw 90M to enhance Olympic chances: Neeraj Chopra

India’s only gold medallist in athletics at the 21st Commonwealth Games, young javelin thrower Neeraj Chopra has set his eyes at achieving a distance of 90m consistently to enhance his chances of winning a medal at the Olympics.

The 20-year-old from Haryana, who clinched the gold at 2016 World Junior Championships, produced a season best of 86.47 metres to claim the yellow metal at Gold Coast and became only the fourth Indian individual in the history of the Games to win a track and field gold.

I-T cautions salaried class against filing wrong tax returns

Salaried people are likely to face the music for dodging taxes. The failure to comply with the income-tax laws and provisions could land them in trouble, said the I-T department. The department has warned salaried people of penal action for under-reporting income or inflating deductions while filing

returns. Sounding a cautionary note, the department has also advised these taxpayers to not “fall prey” to unscrupulous tax advisors or planners in making wrong claims in their returns to get tax benefits.

Airlines fly 28% more passengers in March

Bucking the lean season trend of low demand for air travel, domestic air traffic continued to soar in March with airlines together carrying 11.58 million passengers during the period and recording a 28 per cent growth over the corresponding month last year. Most big carriers, including Air India and Jet Airways, registered over 80 per cent flight occupancy in March.

As per the latest government data, the domestic airlines carried 33.79 million passengers in January-March thus registering a 23.87 per cent growth over the same period last year.

CASH REMAINS ELUSIVE, GOVT, BANKS IN DAMAGE CONTROL MODE

Swinging into action for controlling the damage caused by cashless ATMs, the finance ministry asked the banks to fill up over 80 per cent of ATMs across the country latest by Thursday. Top bankers on their part said urgent steps were being taken to make cash available in regions facing a shortage.

Muthoot Capital Q4 net at Rs 21 cr

Non-banking financial company, Muthoot Capital Services, said its net profit increased to Rs 21.5 crore in the quarter ended March 2018 from Rs 11.1 crore in the year-ago period.

For the full financial year, the company's profit after tax stood at Rs 53.7 crore compared to Rs 30.1 crore in the year 2016-17, registering a growth of 78.4 per cent.

In the quarter ended March, total income grew 48.9 per cent to Rs 118.8 crore from Rs 79.8 crore last year same period.

India, US in talks on trade row: Prabhu

The government on Tuesday said it is working with the US to resolve all trade issues even as America has decided to review India’s eligibility to enjoy duty-free access for certain products under a tax benefit scheme.

The US has also added India to its watch list of countries alleging questionable foreign exchange policies. Besides, it has dragged India to WTO’s dispute settlement mechanism challenging Indian export incentive schemes.

M&M joins Rs 1L crore m-cap club

Mahindra & Mahindra on Tuesday entered the coveted Rs 1 lakh crore market capitalisation club after the stock settled with gains of over 1 per cent.

Shares of the company on Tuesday opened on a bullish note at Rs 815, then gained further ground and touched an all time high level of Rs 819.10, up 2.23 per cent over the previous closing price.

At the end of Tuesday’s trading session, the stock was quoted at Rs 809.60, up 1.05 per cent. Following the uptrend, the market capitalisation of the company stood at Rs 1,00,648.87 crore.

Govt examining Facebook, Cambridge Analytica responses

The government is “examining” the responses furnished by Facebook and Cambridge Analytica on the data breach issue, while it keeps a close watch on global developments on the matter, a senior IT ministry official said on Tuesday. The US social networking giant is facing intense scrutiny from its users as well as governments across the globe after a data leak scandal hit about 87 million users.

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