Ambuja Cements' net profit rose 76.5% to Rs 399.51 crore on 2.44% growth in total income to Rs 2677.93 crore in Q2 June 2016 over Q2 June 2015. The result was announced after market hours yesterday, 26 July 2016.
Ambuja Cements' operating earnings before interest, tax, depreciation and amortization (EBITDA) rose 56.5% to Rs 601 crore in Q2 June 2016 over Q2 June 2015. Cement sales volumes fell 2% to 5.76 million tonnes in Q2 June 2016 over Q2 June 2015.
In its outlook, Ambuja Cements said that post monsoon construction activities are likely to pick up. The medium to long term outlook for cement demand remains positive considering above normal monsoon forecast this year and government's focus on housing, concrete roads, smart cities and infrastructure development, Ambuja Cements said. The company will continue to focus on improving operational efficiencies, it said.
Bharti Infratel's consolidated net profit rose 70.9% to Rs 756.20 crore on 4.3% growth in total income to Rs 1468.70 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.
Akhil Gupta, Chairman, Bharti Infratel said that Indian telecom industry is going through consolidation, and the company believes that this would be good for the industry in the long run as the sector would require large investments by the operators in future to cater to the ever increasing data demand. Bharti Infratel is also seeing some early signs of implementation of the Government's initiative on Smart City which the company believes would provide opportunities to infrastructure companies like itself. Bharti Infratel and Indus Towers being the leaders are fully geared to serve customers' demand and to look at the new opportunities coming up on the infrastructure front, Akhil Gupta said.
Tata Steel before market hours today, 27 July 2016 announced that Quec supports the implementation of a Tata Steel Minerals Canada (TSMC) investment project in Schefferville. The Deputy Premier and Minister responsible for Small and Medium Enterprises, Regulatory Streamlining and Regional Economic Development, Lise Thiault and the Minister of Energy and Natural Resources and Minister responsible for the Plan Nord and Minister responsible for the North Shore Region, Pierre Arcand, announced, on behalf of the Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, Dominique Anglade, the award of a government financial contribution of C $175 million to TSC to support the achievement at Schefferville of a direct shipping iron ore project (DSO project) in which Tata Steel Group has invested an amount in excess of C $1 billion. The financial contribution includes equity stake of $125 million through the Capital Mining Hydrocarbons Fund and a loan of $50 million from Investissement Quec, acting as an agent of the Government. TSMC, founded in 2010, is an indirect subsidiary of Tata Steel, with equity participation from New Millennium Iron Corp. (NML), a TSX listed company headquartered in Montreal, to develop the DSO deposits located in Quebec and Newfoundland and Labrador. TSMC forecasts annual production of over 6 million tonnes of iron ore.
United Spirits' net profit rose 277.3% to Rs 43.80 crore on 9.6% growth in total income to Rs 2061.90 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.
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IDFC's consolidated net profit fell 28.7% to Rs 181.21 crore on 7.6% growth in total income to Rs 2360.58 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.
IDFC said that the result for the Q1 June 2016 is not comparable with Q1 June 2015 results. According to the Scheme of Arrangement between the company and IDFC Bank and their respective shareholders and creditors and on receipt of final banking licence by IDFC Bank for commencement of banking operations, the demerger has been recorded with effect from 1 October 2015. Post transfer of the financing undertaking to IDFC Bank, IDFC is mainly an investment company, with minimal operations.
Bajaj Finserv's consolidated net profit rose 15.1% to Rs 537.51 crore on 31.7% growth in total income to Rs 2911.94 crore in Q1 June 2016 over Q1 June 2015. The result was announced at fag end of the day's trading session yesterday, 26 July 2016.
Bharti Airtel, HDFC, Asian Paints, Yes Bank and Bajaj Auto are scheduled to unveil Q1 June 2016 results today, 27 July 2016.
Zee Entertainment Enterprises' (Zee) consolidated net profit rose 21.76% to Rs 216.96 crore on 14.74% increase in total income to Rs 1531.80 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 26 July 2016.
Advertising revenues rose 19.2% to Rs 912 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic advertising revenues stood at Rs 841.50 crore while international advertising revenues stood at Rs 70.50 crore. Subscription revenues rose 14.2% to Rs 528.20 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic subscription revenues stood at Rs 417.90 crore while international subscription revenues stood at Rs 110.30 crore.
Consolidated operating revenues rose 18.5% to Rs 1571.60 crore in Q1 June 2016 over Q1 June 2015.
Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 44.1% to Rs 453.20 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin rose sharply to 28.83% in Q1 June 2016 from 23.71% in Q1 June 2015.
The company has adopted Indian Accounting Standards (Ind-AS) reporting methodology for reporting its financials commencing Q1 June 2016. Like-to-like financials for previous quarters (Q1 June 2015) have been restated accordingly.
Delta Corp said it has signed a leave and license agreement for premises in the Denzong Regency Hotel, Gangtok, Sikkim, to operate a casino. Delta has also obtained a provisional license from the Government of Sikkim for the same. The company is in the process of refurbishing and getting the premises "casino ready" which should be completed in the next three months.
Delta, in pursuing its strategy of expanding its gaming imprint will now have a presence in Sikkim, operating a live gaming casino offering approximately 150 gaming positions, thereby catering to the Eastern region market. The company will thus, in addition to three offshore and one onshore casino in Goa, will strengthen its presence by adding this Casino in Sikkim, making it a dominant and formidable player in the Indian gaming and entertainment space, the company said in a statement. The announcement was made after market hours yesterday, 26 July 2016.
3i Infotech said it has allotted 6.37 lakh equity shares on 26 July 2016 against conversion of the foreign currency convertible bond (FCCBs) of principal amount of $207,000. The announcement was made after market hours yesterday, 26 July 2016.
Sutlej Textiles and Industries said that its board will meet on Friday, 29 July 2016, to consider raising funds through issuance of securities including equity shares or equity linked securities, including through a qualified institutional placement and/or issuance of equity shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares, and/or other securities, with or without warrants, to eligible investors. The announcement was made after market hours yesterday, 26 July 2016.
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