Tag: Kerala economy

  • Lulu Flight Kitchen FY21 loss soars to 21.56 cr

    Lulu Flight Kitchen FY21 loss soars to 21.56 cr

    By CL Jose Current year numbers point to smart recovery KOCHI/February 15-2022: The Lulu Flight Kitchen Pvt Ltd (LFPL), from the stable of the storied Lulu Group, has reported an increase in loss to Rs21.56 crore for the financial year ending March 31, 2021 (FY21) compared with a loss of Rs8.79 crore the company logged […]

  • ESAF small finance bank eyes big funding plans; to issue Rs300cr NCDs

    ESAF small finance bank eyes big funding plans; to issue Rs300cr NCDs

    By CL Jose Aggregate borriowing limit to be raised to Rs5000 cr KOCHI/January 27-2022: ESAF Small Finance Bank, the fourth and the latest entrant onto the list of Thrissur-headquartered banks, is planning to raise Rs300 crore through the issue of non-convertible debentures (NCDs). Already, processes are on for the bank’s much-awaited initial public offer (IPO) […]

  • ICICI Bank Q3 profit up 19pc to Rs6536 cr

    ICICI Bank Q3 profit up 19pc to Rs6536 cr

    BBN Bureau MUMBAI/January 22-2022:  ICICI Bank, the second largest private sector bank in the country, has reported a consolidated profit of Rs6,536 crore for the quarter ended December 31, 2021, thus logging a growth of about 19 per cent compared with the profit the bank earned a year ago. The bank said the better profitability […]

  • Auditors raise serious questions about Kerala Bank bad loans

    By CL Jose Has bank resorted to evergreening loans to conceal loss? KOCHI/December 20-2021: Is the profitability claimed by Kerala State Cooperative Bank (KSCB) or Kerala Bank, real; and where is the bank headed? Kerala Bank, created through the merger of 13 district cooperative banks after a lot of controversies and political squabbling, has announced […]

  • RBI prunes CSB Bank’s proposal for MD’s ESOS by 88 pc

    RBI prunes CSB Bank’s proposal for MD’s ESOS by 88 pc

    Volume of shares downsized from 34.70 lakh  to 4.33 lakh By CL Jose KOCHI/August 12-2021: The MD & CEO of the Thrissur-based CSB Bank will have to be satisfied with a much lower ‘performance grant’ of 4.33 lakh shares against the 34.70 lakh shares earlier proposed by the board and even ratified by the shareholders […]

  • Kerala borrows Rs500 cr through 4-year bonds at 5.3 pc

    Kerala borrows Rs500 cr through 4-year bonds at 5.3 pc

    Decides against accepting bids came for its Rs500 cr 7-year bonds MUMBAI: Kerala that aimed to raise Rs1000 crore through two bonds – 4-year and 7-year bonds, on Tuesday (July 21) decided to confine to Rs500 crore through the auction of 4-year state development loans (SDLs) or bonds – at a price (coupon) of 5.3 […]

  • KMML to invest Rs1000 cr in capacity expansion

    KMML to invest Rs1000 cr in capacity expansion

    Titanium dioxide pigment production to be jacked up to 60,000mt   THIRUVANANTHAPURAM: The Kerala Minerals and Metals Ltd (KMML), the most profitable public sector industrial venture under the Government of Kerala, has finalized plans for a huge investment to the tune of Rs998 crore to boost its titanium pigment (titanium dioxide) production capacity by 50 per […]

  • Kitex Garments announces four more subsidiaries

    Kitex Garments announces four more subsidiaries

    KOCHI: Kitex Garments Ltd (KGL), the leading Kerala-based garments manufacturer specialized in kidswear, has announced the incorporation of four fully owned subsidiaries – Kitex Packs Ltd (KPL), Kitex Socks Ltd (KSL), Kitex Knits Ltd (KKL) and Kitex Babywear Ltd (KBL) in one go. All these subsidiaries will have an authorized as well as paid up […]

  • Federal Bank maintains status quo on net profit at Rs266 cr

    Federal Bank maintains status quo on net profit at Rs266 cr

      Cost-to-income (CI) ratio falls below 50 pc   KOCHI: Federal Bank, the largest Kerala-based bank, has posted a net profit of Rs266.04 crore for the second quarter ending September 30, 2018, representing a shade increase over that of its preceding quarter as well as the similar quarter in the previous year. However, the bank […]

  • The tale of four Kerala banks and a case for merger

    The tale of four Kerala banks and a case for merger

    What stopped Dhanlaxmi, CSB from growing during last 5 years?