BoI Q4 widening its net loss
MUMBAI: Bank of India announced its audited results for the Q4 and FY 2017-18, following approval by its Board of Directors on May 28, 2018. The Bank’s Net Profit stood at (-) Rs. 3,969 crore in Q4 FY 2017-18 as against (-) Rs. 1,046 crore during Q4- 2016-17. The decline in Net profit was due to provisioning for bad debts as well as for treasury (MTM) losses. The Bank’s Operating Profit stood at Rs.1,172 crore for Q4 2017-18 as against Rs.3,127 crore for Q4- FY 2016-17. The Bank’s operating profits have been impacted by decline in interest income because of rise in NPAs as well as fall in treasury income with respect to last year. The Non-interest Income of the Bank increased sequentially from Rs.1,041 crore in December, 2017 to Rs.1,375 crore in March, 2018, supported by profit from exchange transactions and recovery in written-off accounts.
Senco Gold and Diamonds launches Everlite collection
MUMBAI: Senco Gold and Diamonds, one of the fastest growing jewellery retail chains in the country, launched ten exquisite ranges of lightweight jewellery collection called Everlite. The elegantly crafted new Everlite ranges, from the retail jewellery leader in the east, include: Venus, Lub Dub, Tribe, Mirana, Wood, Shell, Magnificence, Floral, Mismatch and Colors. The Everlite collection comprises a range of rings, pendants, ear rings and sleek necklaces. They are made of gold, diamonds, platinum, white gold and rose gold. The prices range from 7,000 to 50000 INR. The range can be worn by western casuals, formal or ethnic wear.