MUMBAI: Nicholas Piramal India Ltd (NPIL) has announced a 23 per cent rise in profit after tax (PAT) at Rs 25.57 crore for the first six months of the current fiscal. Sales for the first half year amounted to Rs 237.11 crore, an increase of 12 per cent over the same period of last year. During the second quarter, the company reported a 25 per cent increase in net profit at Rs 14.12 crore on a turnover of Rs 124.23 crore as against Rs 110.91 crore last year.

Hughes retail IPO oversubscribed

MUMBAI: The Hughes Software Systems retail public issue comprising 10 per cent of its Rs 27.5 crore initial public offering (IPO) has been oversubscribed 39 times. "The issue was oversubscribed around 39 times. It received subscriptions for Rs 1098 crore," said an official. Shares were offered at a price of Rs 630 each. The price for the retail issue was arrived at after a book-building exercise for 90 per cent of the IPO, which closed on September 28. The offering wasoversubscribed 26 times and got subscriptions for Rs 6,000 crore.

Canara Bank branch ISO certification

MUMBAI: Canara Bank's Vile Parle (East) branch in the city has been awarded the coveted ISO 9002 certification by the Bureau of Indian Standard in recognition of excellence in customer service. The certification was received by Ranjana Kumar, chairman and managing Director-current charge, from O P Khuller, Deputy director general of the Bureau of Indian Standards.

Linc Software gets venture funding

MUMBAI: Linc Software Services has announced venture capital funding of Rs 4.50 crore (a little over one million dollars) from a leading venture captial firm, ICF Ventures. The funds will be used primarily for promoting and growing its business in the US and the UK besides developing its infrastructure facilities in India.