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BW Businessworld

Sify Revenues Up 13% To Rs 963 Million

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Sify Technologies Limited, a leader in network, IT and Software services, has announced its consolidated results under International Financial Reporting Standards (IFRS) for the first quarter of fiscal year 2014-15.

Revenue for the quarter ended 30 June 2014 was Rs 2963 million, an increase of 13 per cent over the same quarter last year. EBITDA for the quarter was Rs 483 million as against Rs 465 million for the same quarter last year. Net Profit for the quarter was Rs 113 million as against a net profit of Rs 163 million for the same quarter last year. CAPEX during the quarter was Rs 372 million. Cash balance at the end of the quarter was Rs 1181 million.

Raju Vegesna, Chairman and Managing Director, said, “The election of a new government with a decisive majority has sent positive signals to the investing community, increasing expectations that India will return to a higher growth trajectory.

M.P. Vijay Kumar, CFO, said, “Our revenues have shown healthy growth, while our EBITDA has not expanded at the same rate versus the same quarter last year, due to significant expenses on our new DCs and execution of a few large capacity projects which are going live in phases. With the additional capacity from our new DCs coming on stream, we will be focusing on monetizing our assets to drive further revenue growth in the quarters ahead.

Our cautious approach to investing and our strict governance of expenditure had seen us through a very trying period.  We see good potential for continuing to improve asset utilization as markets gradually recover. So we will be investing primarily in customer-specific opportunities which will help us leverage these assets. Cash balance at the end of the quarter was Rs 1181 million.”

SBI Life Insurance Net Up 14%
SBI Life Insurance, an insurance company, announced a net profit of Rs 241 crore for the quarter ending June 2014 as against Rs 212 crore during the corresponding quarter last year, an increase of 14 per cent. The total premium of the company grew by 17 per cent to Rs 1,676 crore during the period. The collection of renewal premium recorded a growth of 32 per cent at Rs 937 crore over corresponding quarter last year.

Atanu Sen, Managing Director and CEO of SBI Life Insurance said, "We look forward to achieving 35 per cent growth in gross written premium this fiscal. We continue to be steadfast in our vision to be the most trusted life insurance provider in the Indian market. The recent announcement to increase cap in FDI investments to 49 per cent will give the Insurance industry a much needed boost and will spur a new cycle of growth."

Lava Rolls Out Android 4.4.2 Kitkat Update Through Fota For Iris 504q+
LAVA International Limited, a fast growing company in the mobile handset industry, announced Android 4.4.2 KitKat update over FOTA (Firmware- over-the-Air) for LAVA Iris 504Q+.

With its latest update of Android 4.4.2 KitKat, LAVA Iris 504Q+ shall offer an improved user experience through an enhanced user interface, superior battery life and software performance. A new dialer app has also been introduced in the update which lets users to automatically prioritize contacts according to the most frequently dialed numbers in the phone book. Whenever a user gets a call from an unknown number, the phone will look for matches from businesses with a local listing on Google Maps.

The users will get a notification to upgrade the operating system to Android KitKat. On tapping the notification, the user will be guided through the upgrade download and installation process.  Alternatively, the users can download and install manually through “Check Update” functionality that can be found in Settings-> About Phone->System Updates. The update will be downloaded on the memory card only and the user needs to have memory card inserted in the smartphone while installing. After installation, the Android KitKat software can run with or without memory card in smartphone.

It is powered by a 1.3 GHz quad-core processor and Mali 400 MP2 @500MHz Graphics Unit.

Now priced at Rs 11,900, LAVA Iris 504Q+ is available in Grey and Silver colours. It also comes with an smart flip cover that puts the phone automatically in sleep mode ensuring reduced battery consumption.

India’s Heat And Eat Food Industry To Nearly Triple By 2019
Although the ready to eat (RTE) food category was first introduced in India in 1987, it was not well received by Indian consumers due to the dependence on traditional cooking. In the early 2000s, with the advent of new technology that improved the shelf life of products and the growth of storage and distribution centres, RTE products began to gain popularity. Several segments were introduced in the industry resulting in an increase in product differentiation. One of these segments was developed by using retort technology, and came to be known as the heat and eat food industry.

The heat and eat food industry in India, valued at Rs 2,370 million ($39.5 million) in FY 2014, has been growing at a CAGR 18% for the last three years. The industry is expected to grow at a CAGR of 22% in the next five years till FY 2019 due to rapid urbanisation, increasing disposable income, and an expected improvement in retail infrastructure. ValueNotes estimates that the industry will be worth approximately Rs 6,405 million ($106.7 million) by FY 2019.

India’s heat and eat food industry is currently dominated by the top five players, viz. ITC, MTR Foods, Kohinoor Foods, Gits and Tasty Bite Eatables. ITC and MTR together contribute to about 49 per cent of the market share, while the other three players make up 35 per cent of the total production of heat and eat food. Other players in the category include ADF Foods, Priya Foods and Heinz who are relatively new entrants in the market with limited product lines and have a regional presence.

The heat and eat category of food products is largely export-driven as it is yet to establish a firm footing in the Indian retail market. However, the domestic markets constitute 40 per cent of the total revenues of heat and eat products. Maximum sales of these products occur in urban areas, especially in tier I cities where retail infrastructure is significantly developed.

Asia Powercom Enters the Wireless Range with the Launch of PowerClick 198 Mouse
Asia Powercom, announced their entry into the wireless range of products with the launch of their first wireless optical mouse - PowerClick 198 (Rs 419). This super lightweight mouse is specially designed for people who live life on-the-go and is perfect for both left and right hand users.

PowerClick 198 wireless mouse is optimized for professional use in any workplace. It can be precisely controlled, performs reliably and has a sophisticated and ergonomically functional design. It features a high-definition optical sensor with a pointer speed quick-select button for enhanced productivity and uses 2.4 GHz wireless for long range with minimal interference.

Tejas Sheth, Director at Asia Powercom said, "Our peripheral range is well accepted in the market for its durability, reliability at an affordable price. With this confident and success, we are launching our first wireless product - PowerClick 198 mouse. The growing thirst of wireless technology known for its comfort factor remains untouched by many of the mouse manufactures and PowerClick 198 scores well on this."

This 3-button mouse is designed for both left- and right-handed users. The modern design, as well as the precise and absolutely reliable optical sensor technology (1,200 dpi resolution), guarantees fatigue-free work. Designed with modern Nano receiver technology, this mouse is ideal to use with laptops and notebooks.

Dassault Systèmes To Acquire Quintiq
Dassault Systèmes, the 3DEXPERIENCE Company, world leader in 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions, today announced the signing of a definitive share purchase agreement for Dassault Systèmes to acquire Quintiq, a leading provider of on-premise and on-cloud supply chain and Operations Planning & Optimisation software, for approximately €250 million. With 800 employees, Quintiq, whose offerings include production, logistics and workforce planning applications, is rated as a leader in the market by top industry analysts and its solutions are used today by 250 customers, at 1,000 sites, in more than 90 countries.

The acquisition of Quintiq, headquartered in ’s-Hertogenbosch, The Netherlands, extends Dassault Systèmes’ 3DEXPERIENCE platform to business operations planning and further enables its longtime goal of harmonizing product, nature and life.

“3DEXPERIENCE is about the entire breadth of a business, beyond design, engineering and production. With today’s acquisition, thanks to Quintiq’s highly talented team, we expand our capacity to provide a strategic business experience platform to our customers.” said Bernard Charlès, President & CEO, Dassault Systèmes. “3DEXPERIENCE provides our customers a comprehensive environment to model, simulate and optimize their business from strategic goals to the delivery of memorable experiences.”

Cleo County, Smile Foundation Presents “Cook For A Smile” With Chef Vikas Khanna
Smile Foundation, development organisation presented the 2nd edition of its sensitisation cum fund raising initiative “Cook for a Smile” which is co- presented by Cleo County and endorsed and supported by Three times Michelin Starred Chef Vikas Khanna. Funds raised will be utilised in providing education and nutrition for 1000 children of Smile Foundation with a mission of 'Nutrition for Better Literacy.'

Chef Vikas Khanna, 3 times Michelin Starred Chef and Goodwill Ambassador –Nutrition For Better Literacy, Smile Foundation said, “Lack of proper nutrition is a fundamental issue and one of the biggest roadblocks for the growth and development for children in our country..I Am proud to be associated with Smile Foundation as their Goodwill Ambassador for Nutrition for better literacy and I hope I am able to sensitize many more people about this issue that faces us as a developing country. Cook for Smile has been a big step in helping us reach out to stakeholders and by end of this year I pledge to benefit around 5000 kids under this initiative.”

“At Cleo County we strive to make the dream of a home a reality for thousands of people, our core philosophy has always been about making the lives’ of people better. It is this value which we take forward with the cook for a smile initiative. We are extremely happy that through this initiative we are able to contribute towards making education and nutrition a reality for thousands for children. The passion for a better tomorrow is what drives us at Cleo County, the children are our tomorrow and we would like to do our contribution in securing their future”, says Amit Modi, Director, ABA Corp. - Cleo County.