United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore (342 million) for the second quarter ended September 30, as against Rs 19.5 crore (195 million) in the year-ago period.
Till now in Kingfisher, the number was not fixed and depended on the number of hours flown.
The Indian cable and satellite universe is already packed and in the coming months it will only get further crowded. Over the next 12 months, another 100 channels will be added to the existing 230 and according to industry estimates, by 2009 a staggering 700 channels could be beamed into Indian homes.
The UB Group-owned Kingfisher Airlines said on Wednesday the government had granted it traffic rights to operate on seven new international routes.
United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
The group is planning to make a foray in this hitherto unorganised sector by establishing a greenfield still (distilleries dedicated to cashew and coconut Feni) in Goa and to promote the product all across the country.
After underperforming its peers in the consumer space in 2022-23, and experiencing a mixed bag in the 2023-24 (FY24) April-June quarter (first quarter, or Q1), brokerages are positive about the medium-term outlook for liquor stocks. Higher raw material costs, concerns regarding increased duties, regulatory changes, and competitive pressures weighed on performance returns in the past quarters. Analysts believe that the sector could experience a reversal of fortunes due to better demand and margin improvements.
Private carrier Kingfisher Airlines plans to raise up to $175 million (about Rs 840 crore) before March next year through rights issue and global depository receipts (GDR).
The company, owned by the UB Group, had been relying on internal group reserves and debt to manage its operations over the past two years and this infusion is expected to fuel its sustained growth.
Kingfisher said the price was arrived in accordance with the pricing guidelines prescribed under the Securities and Exchange Board of India, which is the average of the past six months' price, 30 days prior to the relevant conversion date.
Despite rosy projections the fact remains that wine in India is not seen as an approachable beverage.
Low-cost carrier Simplify Deccan will be rebranded Kingfisher Red, a separate brand identity from Vijay Mallya-promoted full-service carrier Kingfisher Airlines.
Even as 59 Rajya Sabha seats will be up for re-election in April, at least two industrialists are likely to get re-elected for another six years -- Vijay Mallya and Rajkumar Dhoot.
The UB Group-controlled Kingfisher Airlines may cancel its orders for Airbus A380s and A350s or swap these planes for smaller planes like A320s and A330s.
India's second largest private carrier Kingfisher Airlines plans to more than double its fleet strength by adding 67 more aircraft by 2016, according to an investors' presentation made by the company.
Several companies have hit on the idea of offering college freshers pre-job training to make them more employable.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
The move comes when Kingfisher remains the only listed airline in India to have made losses in the third quarter of the current financial year.
Vijay Mallya, the embattled chairman of the UB Group, is not likely to be immediately named a wilful defaulter by the United Bank of India.
United Spirits Ltd, owned by Vijay Mallya-controlled UB Group, is set to become the world's second-largest spirits firm by volumes, dislodging Paris-headquartered Pernod Ricard.
In a chat with Shivani Shinde, Cognizant vice-chairman Lakshmi Narayanan explained the rationale behind the current acquisition and the way ahead.
UB Group Chairman Vijay Mallya, who inherited an empire of diverse businesses at age 27, is now trying hard to show that he can be a pragmatic king of bad times, too.That explains Mallya's move to hawk a part of his family silver at a time when the combined debt of his six listed companies has touched a whopping Rs 14,231 crore, as on December 2008. The debt is now more than the group's market cap.
Ranibai Rajaram Chhabria, mother of late Manohar Rajaram Chhabria, has challenged the merger of Shaw Wallace with the UB Group saying she was entitled to a fifth of her deceased son's estate.
UB Group Chief Vijay Mallya on Tuesday said the Group would raise a total of $400 million over the next one year, which includes an IPO for its aviation business, Kingfisher Airlines.
Mallya and his UB Group companies, including Kingfisher Finvest, held a 32.12 per cent stake in the airlines as of September.
The Deccan brand, once synonymous with lost cost flying in India, will cease to exist after its merger with the Vijay Mallya promoted Kingfisher Airlines, which will takeoff for international destinations by August. "Deccan will cease to exist because after the merger there will be only one company and that will be Kingfisher Airlines," UB Group chief and Kingfisher Airlines Chairman Vijay Mallya told reporters in Baramati.
Liquor baron Vijay Mallya has dropped plans to contest the coming Rajya Sabha elections from Maharastra and seek re-election only from Karnataka. Admitting that he had talks with Shiv Sena leader Uddhav Thackery on possibilities of his contesting from Maharashtra, the head of the Kingfisher Airlines said he did not get a good response as 'Sena is not fully in favour of non-Maharastrians'.
The first signs of the move will be evident when both the airlines announce their summer schedules in March after receiving the approval of the Directorate General of Civil Aviation. Deccan is likely to bring down and withdraw frequencies between Mumbai-Delhi in the schedule.
The government recently allowed the foreign carriers to have a 74 per cent stake in Indian cargo carriers. A total of 49 per cent FDI was earlier allowed in the cargo sector, but no investment by a foreign airline was permitted.
Merged entity to be named Kingfisher Airlines.
Deccan Aviation Ltd, in which Vijay Mallya's UB group has picked up 46 per cent stake, may hive off its aviation chartering business into a separate entity.
After strong statements to the contrary, UB Group chairman Vijay Mallya on Tuesday said that he was considering the merger of Kingfisher Airlines with budget carrier Simplifly Deccan (earlier Air Deccan), in which the former bought a 26 per cent stake in June. Mallya said Kingfisher had asked consulting firm Accenture to study the integration of the two airlines, including the possibility of a merger.
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