Hide News  Nestle India may decline after reporting reverse turnaround in Q2 results
Jul 30, 2015  08:39

Nestle India reported net loss of Rs 64.40 crore in Q2 June 2015 as against net profit of Rs 287.86 crore in Q2 June 2014. Total income declined 19.06% to Rs 1987.14 crore in Q2 June 2015 over Q2 June 2014. The result was announced after market hours yesterday, 29 July 2015.

Nestle India's Q2 results were hit adversely by the Maggi noodles issues. The company reversed net sales worth Rs 288.38 crore in Q2 June 2015 in relation to Maggi noodles stock withdrawn from trade partners and market. The company incurred exceptional expenditure of Rs 451.66 crore in Q2 June 2015 on account of stock of Maggi noodles withdrawn from the market and other related costs.

Kotak Mahindra Bank (KMBL) will be in focus. The finance ministry after market hours yesterday, 29 July 2015, announced that the government has approved the proposal from KMBL for increasing the ceiling on foreign investment in the bank to 55% pursuant to merger of ING Vysya Bank with KMBL.

Bank of Baroda, Dr Reddy's Laboratories, IDFC, ITC, Kotak Mahindra Bank and NTPC announce Q1 results today, 30 July 2015.

Maruti Suzuki India (MSIL) after market hours yesterday, 29 July 2015 said that Maruti Suzuki Dzire, India's best-selling entry Sedan for last three years, attained the 10 lakh cumulative sales mark this month. Launched in 2008, Maruti Suzuki Dzire has been a category leader and has helped Maruti Suzuki strengthen its presence in the the entry sedan segment, MSIL said in a statement.

Reliance Industries (RIL) will be watched. With regard to news item titled �RIL likely to sell US shale gas holdings�, RIL after market hours yesterday, 29 July 2015 said in a clarification that the company constantly strives to identify means by which to create additional value for its shareholders. It is the company's policy not to comment on market speculation, RIL said. If there are any required disclosures, the company will make them at the appropriate time, RIL added.

NHPC's net profit rose 24.53% to Rs 767.17 crore on 0.05% growth in total income to Rs 2218.80 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 29 July 2015.

Essar Oil's net profit rose 54% to Rs 1063 crore on 25% decline in gross revenue to Rs 20572 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 29 July 2015.

Essar Oil attributed the decline in its top line during Q1 June 2015 to lower crude oil prices prevailing in the global market.

Essar Oil's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 28% to Rs 2060 crore in Q1 June 2015 over Q1 June 2014.

The company registered current price gross refining margin (CP GRM) at $11.05 per barrel in Q1 June 2015, as against $9.04 per barrel in Q1 June 2014.

Essar Oil said that it has registered its highest ever profit after tax (PAT), EBITDA and CP GRM in Q1 June 2015.

Commenting on the company's Q1 performance, LK Gupta, Managing Director & CEO of Essar Oil said that for the 12th consecutive quarter the company's refinery has continued with its trend of registering steady and strong performance by operating beyond its rated capacity. The planned 30-day refinery maintenance shutdown between September and October this year will help the company complete its Diesel Maximisation Project, which will enable it to convert lower margin intermediates like VGO to higher margin distillates like diesel, Gupta said. This will further improve the company's refining margins, he added. Essar Oil's retail expansion is on track and it is witnessing encouraging response and improvement in sales, Gupta said.

Suresh Jain, CFO of Essar Oil said that the company has declared record quarterly results on the back of stellar operating and financial performance. Consistent strong financial performance has improved all financial parameters and ratios in the last two years, Jain said. The company is confident of further reduction in its interest cost through the ongoing dollarisation programme, Jain added.

FM radio operators will be in focus. E-Auction of the first batch of private FM Radio Phase III re-commenced on 29 July 2015 and during the day, four rounds of bidding took place. Till now, 12 rounds of bidding are over. The first batch auction for135 FM Channels in 69 existing cities of Phase II began on 27 July 2015. At the close of third day of bidding, 80 channels in 55 cities became provisionally winning channels with cumulative provisional winning price of around Rs 549 crore against their aggregate reserve price of about Rs 377 crore.

The auction resumed with Auction Activity Requirement set at 80%. Bidding will re-commence on 30 July 2015.

Mphasis' consolidated net profit fell 12.06% to Rs 156.26 crore on 4.71% rise in net sales to Rs 1496.41 crore in Q1 June 2015 over Q4 March 2015. The result was announced after market hours yesterday, 29 July 2015.

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