5 percent to Rs.1,105.6 crore from Rs.776 crore in the previous corresponding period.

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Oberoi net drops

New Delhi: East India Hotels, the flagship company of hospitality major Oberoi group, Thursday reported a 21.53 percent drop in profit after tax to Rs.170.44 crore in 2008-09 from Rs.217.23 crore in the previous fiscal. The company has declared a dividend of Rs.1.20 per share.

'The global financial crisis and the terror attacks on India's financial capital Mumbai last November have resulted in a sharp drop in foreign visitors to India,' said group chairman P.R.S. Oberoi. The group's Trident hotel in Mumbai was among the targets of November terror attacks.

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Larsen and Toubro plans bank

Chennai: The financial services arm of construction and engineering major Larsen and Toubro has plans to set up a commercial bank as part of its efforts to have a presence in the entire gamut of financial services in the country.

L&T Finance, which already holds 4.69 percent in City Union Bank, said here Thursday that there were related advantages of starting a bank especially to provide services to corporate partners.

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Jet to enhance low-cost operations

New Delhi: Private carrier Jet Airways Thursday said it would enhance its low-cost operations, Jet Airways Konnect, and add 180 daily flights across the country by Oct 1.

'Effective September 3 onwards, Jet Airways Konnect will launch services on several key domestic routes previously operated by Jet Airways -- full service carrier of the airline -- and add 180 more daily flight by Oct 1,' the airline said in a statement.