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ICICI Bank holds 13 coin exchange melas

PANAJI: Around rupees three lakh worth of coins and currency were exchanged by ICICI Bank through 13 coin melas organised last week. The melas were at the bank’s branches in Pilerne, Curchorem, Chinchinim, Cuncolim, Aquem, Navelim, Pernem, Margao, Vasco, Ponda, Mapusa, Benaulim and Candolim.   Jaikish, general manager and officer-in-charge, RBI- Goa, inaugurated the event at the Vasco branch.  ICICI Bank periodically holds coin exchange melas to offer a free facility of exchanging notes and coins to the general public. These events usually receive an overwhelming response. Anyone can avail of this facility free of cost. The coin melas witnessed people exchanging coins worth Rs 3 lakh in the denomination of Rs 10, five and Rupee one. ICICI Bank has over 30 branches and more than 65 ATMs in Goa.  NT

 

Compuage Infocom PAT up by 50%

MUMBAI: Compuage Infocom Ltd, one of the India’s leading IT distribution company, announced its second quarter result for the FY16-17.  On a year-to-year basis, the profit increased by 50.07% from Rs 4.49 cr to Rs 6.75 cr. The sales for the quarter ended September 30, 2016 increased by 57.67% from Rs 580.18 cr to Rs 914.77cr. Recorded EBITDA to Rs 22.89 cr for the year ended September 30, 2016 against Rs 19.35 cr in the year ended September 30, 2015 which is an increase of 18.28%. NT

 

Balaji Amines HY1 PAT up by 95.18%

MUMBAI: Balaji Amines Ltd., producer of DMA-HCL and manufacturer of Aliphatic Amines announced its Half Yearly result for the FY16-17. On a year-to-year basis, the profit increased by 95.18% from Rs 24.62 cr to Rs 48.07 cr. The sale increased by 2.06% from Rs 346.77 cr to Rs 353.94cr. Recorded Profit Before Tax (PBT) to Rs  67.74 cr for the half year ended September 30, 2016 against Rs 38.66 cr in the period ended September 30, 2015, an increase of 75.21%. NT

 

OCARE launches first Dental Insurance Product

MUMBAI: In a first ever, OCARE, India’s first, and only, independent Insurance Process as a Service (IPAAS) platform, launched the first ever Dental Insurance Product in the country. A Group Insurance product, it offers a sum assured of INR 25,000/-.  Additionally, in its nationwide effort to offer dental insurance mass-market, OCARE has also started a unique endeavor to offer its products through the country’s Gram Panchayats, by providing Group Dental Insurance to villages. Vihigaon, a village panchayat located in the Buldhana district of Maharashtra state, India, becomes the first village to be covered by OCARE Dental Insurance. NT

 

Shriram City standalone net profit rises 34.3%

MUMBAI: Prominent NBFC Shriram City Union Finance Limited (Shriram City) declared its results for the second quarter of FY2017 ended September 30, 2016.  Standalone Net Profits stood at Rs 204.49 crore, a growth of 34.3% over the same period last year. Income from Operations, at Rs 1115.29 crore was higher by 18%. Net Interest Income grew by 22.3% and stood at Rs 735.13 cr. Assets Under Management (AUM) grew by 18% to aggregate Rs 21390 crore.  Subsidiary Shriram Housing Finance Ltd logged a growth of 75% in Assets Under Management at Rs 1753 crore and reported Net Profits of Rs.10.1 crore. NT