Jaiprakash Power Ventures' second quarter revenue rose 5.1% year-on-year, while profit before exceptional items and tax climbed nearly 79%. A Rs 511 crore provision for a settlement with NARCL weighed on earnings this quarter. JP Power Ventures's consolidated net profit fell 81.7% year-on-year to Rs 33.34 crore in the quarter ended Sept 30, compared with Rs 182 crore in the year-ago period. The decline followed a Rs 511 crore exceptional charge towards a proposed full-and-final settlement with the National Asset Reconstruction Company Ltd. (NARCL) over a corporate guarantee furnished by the company for loans to Jaiprakash Associates. Net profit fell 81.7% to Rs 33.3 crore as compared to Rs 182 crore the previous year in the same period. Revenue from operations increased 5.1% year-on-year to Rs 1,512.12 crore from Rs 1,438.30 crore. Total income rose to Rs 1,579.34 crore from Rs 1,478.49 crore. The company's September-quarter earnings therefore reflect the impact of ...
US health authorities said Wednesday that slivered onions used by McDonald's triggered an e.Coli outbreak that sickened 90 people. "Fresh, slivered onions served on Quarter Pounders and other menu items from McDonald's are the likely source of this outbreak," the Centers for Disease Control and Prevention said. These particular onions were supplied by Taylor Farms, which issued a voluntary recall. McDonald's also pulled the onions. Restaurants in a dozen US states temporarily pulled the burgers from their menus this month amid the outbreak linked to them. The number of people sickened now stands at 90, including 27 who had to be hospitalized, and an elderly man in Colorado died. McDonald's on Sunday said it would resume selling its Quarter Pounder hamburgers after tests for e.Coli came back negative. The e.Coli bacterium causes stomach cramps, diarrhea and vomiting that last three to four days. Most people recover without needing treatment but some devel...