Author: Biz India

Hindustan Unilever Limited Delivers $132 Million Profit in Fourth Quarter

India’s largest fast-moving consumer goods (FMCG) company Hindustan Unilever’s (HUL) fourth quarter net profit rose better-than-expected 21 percent year-on-year to Rs. 687 crore (about $132 million), helped by strong growth across several segments. Analysts on average had expected HUL to report a net profit of Rs 649 crore (about $124 million). The company, a unit of Anglo-Dutch Unilever Plc, reported net sales of Rs5, 660.5 crore ($1.088 billion) in the Jan-March quarter, up 16 percent from a year ago. In the fourth quarter, the consumer goods leader had exceptional items, which included gain of Rs 34.73 crore (about $6.7million) from the sale of properties and Rs 5.78 crore (about $1.1 million) provision for retirement benefits among other things. In the year ago quarter it had exceptional gain of Rs 47.8 crore ($9.19 million) from sale of properties and a few other provisions. Its net profit before exceptional items was up 29 percent, the company announced. During the three-month period, the company’s domestic consumer business grew 20 percent with a volume growth of 10 percent. Among key segments, soaps and detergents revenue rose 28 percent year-on-year to Rs 2,834. crore (about $545,000) in January-March. “Momentum was sustained in both bars and powders with Rin benefiting from the bars relaunch in December quarter. The focus on driving upgradation led to stepped up growth rates in Surf,” HUL said. Personal products revenue...

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Over 300 Business Leaders Converge at US-India Business West Coast Summit

Washington, April 29 — Over 300 top business leaders from India and the United States have highlighted dynamic potential that exists in present and future collaboration between the two countries. The first annual US-India Business West Coast Summit hosted by the US-India Business Council (USIBC) and the Federation of Indian Chambers of Commerce and Industry (FICCI) in Silicon Valley over the weekend attracted prominent business and policy leaders from both countries. Themed “Building Bridges, Fostering Innovation,” the conference focused on the most pressing political and economic issues impacting US-India relations, as well as technology and innovation, renewable energy and trade and investment, according to USIBC. Former Secretary of State Condoleezza Rice describing India as “a wonderful example of what democratic institutions can achieve”, said, “The Indian democracy cannot be underestimated.” Andy Bird, chairman, Walt Disney International said: “India is all about cricket, film and television, so Disney had to be involved in at least two of those to be successful there. So our strategy in India has been driven by media.” “As part of strategy, we’ve acquired media companies there. We are just learning to walk in India, but pretty soon we’ll be jogging and running and we’re looking forward to a very bright and exciting future there,” he added. “Collaboration is the future,” said Wim Elfrink, EVP, Emerging Solutions & Chief, Globalization Officer, Cisco Systems. Noting that 100...

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KMAT To Be Held on Jul 22nd in 14 Cities in Karnataka

The application process for the Karnataka Management Aptitude Test (KMAT) has begun. KMAT 2012, the Master of Business Administration (MBA) entrance exam for the state of Karnataka, conducted by the Karnataka Post Graduate Colleges Association (KPPGCA) will be held on Sunday, July 22, 2012. Students aiming to pursue MBA from a top business schools in Karnataka, but have not got a call through their scores on the national level exams, going for the KMAT 2012 exam can get the much needed breakthrough. This is the relevant schedule for the KMAT 12 program: Activity Schedule Availability of online & physical application forms Thursday, April 26, 2012 Last date to apply Thursday, July 12, 2012 KMAT 2012 Exam Sunday, July 22, 2012 Declaration of KMAT 2012 Result Wednesday, August 8, 2012 Application Process There are two modes of application for KMAT: physical application and online application. For the physical application, forms need to be procured from the participating institutes. For the  online application,  visit www.kmatindia.com. The application fee for MBA or MCA is Rs. 500 (about $10) and to apply for both, the fee is Rs. 600 or  about $12.   Participating B-schools There are 157 B-schools which will accept the scores of KMAT 2012 scores. Some of the noted B-schools include Acharya Institute of Management Science, Alliance Business Academy, Bangalore Institute of Management Studies, Garden City College of Science &...

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About 32,000 Students To Take Management Aptitude Test

The All-India Management Association (AIMA) has announced that it is ready to host the second Management Aptitude Test (MAT) – which is held in two formats, paper pencil based and computer based – on Sunday, May 6, 2012 and on Saturday, May 12, 2012 across 83 test centers. The May 2012 MAT will be taken by some 32,000 candidates. In an exclusive conversation with MBAUniverse.com, a spokesperson from AIMA mentioned, “We have received around 32, 000 applications for May 2012 exam. For the December 11 MAT, we had got 56, 000 registrations.” Admit Card The application sale of the admission forms was over on Saturday, April 14, 2012. The last date to submit the filled-up application forms was Tuesday, April 17, 2012. The download of the Admit Card has also started from Saturday, April 28, 2012 onwards. Candidates who have not downloaded the Admit Card must do so in a timely manner. Without the Admit Card, they will not be able to take the exam. In order to download the Admit Card, click on the following link: www.aima-ind.org/mat_centre.aspx MAT Exam Pattern The duration of the exam is two and a half hours. There are four sections, Language Comprehension; Mathematical Skills, Data Analysis and Sufficiency; Intelligence and Critical Reasoning; and Indian and Global Environment. Scores given are on the basis of the first four sections. The general difficulty level remains...

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Now, U.S. Government Says Your Social Security and Medicare Will Run Out of Money Sooner

By Nilus Mattive May 01, 2012 – In February, I explained why the Middle Class Tax relief and Job Creation Act of 2010 simply compounded Social Security’s big-picture problems. And now just two months later the program’s Trustees have released their latest annual report. The conclusion in a nutshell? Surprise, surprise: “The Social Security outlook has worsened significantly relative to last year’s report.” Let me elaborate on that a bit … Last year the Trustees were saying the program’s trust funds would run out in 2036, causing a 25 percent reduction in payments from that point forward. Now the number in the 2012 report is predicting exhaustion three years sooner than that — which continues the pattern of consistently walking down these estimates year after year. That’s partly because the underlying math is problematic due to long-term forces and false assumptions — including life expectancies, demographics, and the fact that the Trustees are now calling for lower wage growth going forward. But again, it’s also because lawmakers are making things worse not better! Just look at revenues going into the program: In 2011, inflows were $148 billion less than outflows and administrative costs, with $103 billion of that attributable to the aforementioned payroll tax cut … And for 2012, the Trustees see an even bigger annual shortfall of $165 billion … with $112 billion of that from the extension...

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