Adhunik Metaliks on Friday reported a jump of over 200 per cent in its net profit to Rs 56.43 crore for the quarter ended June 30, 2010. The company had posted a profit of Rs 18.29 crore in the first quarter of last year. Net sales of the company was at Rs 428.44 crore, up 39.16 per cent, compared to Rs 307.87 crore in Q1 of 2009-10, the company said in a statement.
Power Grid is planning to lease out 80% of its towers to telecommunications companies, ET, citing two executives familiar with the development. The proposal follows a report by Booz & Co., which was appointed by the company to evaluate its diversification plan. The towers would be leased out in phases, they said. S.K. Chaturvedi, Power Grid's chairman and managing director, said the company planned to venture into non-regulated businesses such as providing telecom infrastructure without any fresh capital expenditure, the website reported. A proposal to this effect will be presented at a board meeting due at the end of this month or early next month, he said. http://economictimes.indiatimes.com/news/news-by-industry/telecom/PowerGrid-to-lease-out-towers-to-telcos/articleshow/6316875.cms
