Exim Bank gives LOC to Ethiopia

MUMBAI: Export-Import Bank of India has extended a Line of Credit (LOC) of $ 213.31 million to the government of Ethiopia, which is the third tranche of the total credit commitment of $640 million for financing sugar industry rehabilitation in Ethiopia.

Exim Bank has earlier extended two LOCs of $ 122 million as first tranche and $166.23 million as second tranche .Kilitch Drugs profit rises 47%

Kilitch Drugs India Ltd a posted a total income of Rs 37.54 crore for the September quarter as against Rs 32.25 crore in the previous period. The net profit for the second quarter has risen by 47% from Rs 3.46 crore to Rs 5.08 crore. It has formed a subsidiary named Eyekare Kilitch Ltd in which Kilitch has taken 51% equity share and 49% equity participation by other investors. The firm is also exploring the possibility of a manufacturing unit in Ethiopia.

source: indianexpress