Index heavyweight and cigarette major ITC's net profit rose 3.65% to Rs 2361.18 crore on 1.66% increase in total income to Rs 9663.15 crore in Q4 March 2015 over Q4 March 2014. The result was announced after trading hours on Friday, 22 May 2015.
ITC said that Q4 March 2015 performance was impacted by steep increase in excise duty and VAT on cigarettes and weak demand environment. Muted growth in net revenue was primarily due to lack of trading opportunities in agricommodities and continuing pressure on cigarette volumes. Excluding expenditure on CSR / social investment programmes, comparable profit before tax and net profit grew by 6.4% and 7.8% respectively in Q4 March 2015 over Q4 March 2014. Financials for Q4 March 2015 include Rs 58 crore towards costs associated with rationalisation of safety matches manufacturing operations.
The company delivered another year of steady performance in the backdrop of continuing sluggishness in the macro-economic environment, exacerbated by a steep increase in taxes/duties on cigarettes which led to unprecedented pressure on legal cigarette industry sales volumes, ITC said. The company also had to contend with start-up costs relating to the launch of new products and categories in the non-cigarette FMCG segment, input cost pressures in the paperboards, paper and packaging businesses and a weak pricing environment in the hotels business, it added.
Shares of Lupin will replace shares of Tata Power Company in the S&P BSE Sensex with effect from 22 June 2015, the BSE said in a statement after market hours on Friday, 22 May 2015.
Bharat Petroleum Corporation (BPCL) said that the company has entered into a term loan agreement with State Bank of India to set-up a rupee loan facility. The facility will be used to finance capital expenditure on the company's ongoing and new projects. Under the facility, BPCL can avail a loan of up to Rs 4000 crore which can be drawn over a period of three years. The loan carries a floating rate of interest linked to base rate and has a door to door maturity of ten years. The announcement was made after market hours on Friday, 22 May 2015.
Steel Authority of India (Sail) signed a Memorandum of Understanding (MoU) with ArcelorMittal to set up an automotive steel manufacturing facility under a Joint Venture (JV) arrangement in India. The announcement was made after market hours on Friday, 22 May 2015. The MoU is the first step of a process to establish a JV between the two companies. The proposed JV will construct a state-of-the-art cold rolling mill and other downstream finishing facilities in India that will offer technologically advanced steel products to India`s rapidly growing automotive sector.
Jubilant FoodWorks on Saturday, 23 May 2015 said that Dunkin' Donuts (DD), the world's leading doughnuts, baked goods & coffee chain made a much-anticipated entry in Chennai, ending the long wait of the city's urban, well-travelled audiences. With a presence across 20 cities in India, Dunkin' Donuts launched its first restaurant in Chennai at the Phoenix Market City, one of the landmark retail locations in the city. The new restaurant marks the launch of the 57th Dunkin' Donuts restaurant in India, Jubilant FoodWorks said in a statement.
Natco Pharma's consolidated net profit rose 126.64% to Rs 54.44 crore on 5.28% growth in total income to Rs 204 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours on Friday, 22 May 2015.
Natco Pharma's board of directors at its meeting held on Friday, 22 May 2015, approved increase of equity investment percentage in the company to 49% to foreign institutional investors (FIIs)/foreign portfolio investors etc. The Board also approved further issue of shares or convertible securities of any nature in the form of private placement, qualified institutional placement (QIP) to foreign institutional investors (FIIs), qualified institutional buyers or any other investors etc. up to an amount of Rs 450 crore. The Board approved the merger of Natco Organics (100% subsidiary company) into Natco Pharma.
On a consolidated basis, MphasiS reported 45.55% rise in net profit to Rs 177.69 crore on 42.31% rise in total income to Rs 1496.54 crore in the quarter ended 31 March 2015 over the quarter ended 31 March 2014.
Divi's Laboratories' consolidated net profit rose 17.83% to Rs 231.47 crore on 9.55% growth in total income to Rs 832.19 crore in Q4 March 2015 over Q4 March 2014. The result was announced on Saturday, 23 May 2015.
Divi's Laboratories' board of directors declared a dividend of Rs 20 per share for the year ended 31 March 2015 (FY 2015).
During the year (FY 2015), the company has capitalized fixed assets amounted to Rs 230 crore. An amount of Rs 218 crore is carried forward as capital WIP for the capital works under execution.
City Union Bank's net profit rose 18.87% to Rs 99.07 crore on 10.12% growth in total income to Rs 793.64 crore in Q4 March 2015 over Q4 March 2014. The result was announced on Saturday, 23 May 2015.
The bank's provisions and contingencies surged 96.21% to Rs 58.12 crore in Q4 March 2015 over Q4 March 2014.
City Union Bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 1.86% as on 31 March 2015 as against 2.12% as on 31 December 2014 and 1.81% as on 31 March 2014. The ratio of net NPAs to net advances stood at 1.3% as on 31 March 2015 as against 1.31% as on 31 December 2014 and 1.23% as on 31 March 2014.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 16.52% as on 31 March 2015 as against 15.73% as on 31 December 2014 and 15.01% as on 31 March 2014.
MRPL reported 9.6% rise in net profit to Rs 1169.70 crore on 42.2% fall in total income to Rs 11474.43 crore in the Q4 March 2015 over Q4 March 2014.
Gujarat State Petronet reported 26.6% fall in net profit to Rs 67.10 crore on 1.8% rise in total income to Rs 250.26 crore in the Q4 March 2015 over Q4 March 2014.
ABG Infralogistics said that the company's subsidiary West Quay Multiport has commenced trial operations at its WQ6 Berth at Visakhapatnam Port Trust. The total cost of the project as on date is approx. Rs 220 crore. The announcement was made after market hours on Friday, 22 May 2015.
Sadbhav Engineering said that Sadbhav Infrastructure Project (SIPL), one of the company's subsidiaries had filed the DRHP with Sebi. The company has been informed that due to a change in the issue structure, SIPL is required to withdraw the DRHP and re-file the draft offer document. Consequently, the board of directors of SIPL have approved, by way of resolution passed on 20 May 2015, the withdrawal of the DRHP and the re-filing of the draft red herring prospectus. Accordingly, SIPL has withdrawn the DRHP filed with Sebi on 22 May 2015.
Powered by Capital Market - Live News