Adani Ports and Special Economic Zone's (APSEZ) consolidated net profit rose 38.34% to Rs 914.06 crore on 18% increase in total income to Rs 2161.65 crore in Q4 March 2016 over Q4 March 2015. EBITDA (earnings before interest, taxes, depreciation and amortization) excluding other income rose 12% to Rs 1225 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 3 May 2016.
Cargo across all ports handled by the company rose 5% to 152 million metric tonnes (MMT) in the year ended 31 March 2016 over the year ended 31 March 2015. The company has given guidance of 10% to 15% growth in cargo volumes for the year ending 31 March 2017 (FY 2017). It has given guidance of 10% to 15% growth in net profit for FY 2017.
In a separate announcement, APSEZ said that its board of directors has decided to seek shareholders' approval to raise funds by issue of equity shares/convertible bonds for an aggregate amount of up to Rs 10000 crore. The board has also decided to seek shareholders' approval to issue secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company.
Bharti Airtel announced after market hours yesterday, 3 May 2016, that its subsidiary Airtel M-Commerce Services has been renamed as Airtel Payments Bank after receiving necessary approvals from all concerned authorities. The company also unveiled a new logo to reflect its new identity. On 11 April 2016, Airtel Payments Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI). The company plans to start rolling out its banking network in the second quarter of the current financial year. Airtel Payments Bank (which began operations in 2011 as Airtel M-Commerce Services) currently provides money transfer services and semi-closed wallet services (Airtel Money). The company has presence in 800 plus towns across India.
Yes Bank announced reduction in lending rates by 10 basis points (bps) across all tenures with effect from 1 May 2016. The bank's Marginal Cost of Funds based Lending Rate (MCLR) for one-year loans now stands at 9.50%, the bank said. The announcement was made after trading hours yesterday, 3 May 2016.
NTPC announced that the 200 megawatts (MW) out of 250 MW of Stage-I Ananthapuramu Ultra Mega Solar Power Project has been synchronized on 30 April 2016. With this, the total capacity of non-conventional energy projects of NTPC has become 310 MW. Further, in continuation to the company's disclosure dated 16 October 2015, Government of Jharkhand has notified 'PTPS Transfer Scheme, 2015' on 1 April 2016 transferring specified assets of Patratu Thermal Power Station to PUVNL, a subsidiary company of NTPC, resulting in addition of 325 MW to NTPC's Group capacity. Consequently, the total commissioned capacity of NTPC and NTPC group has become 40,212 MW and 47,178 MW respectively, NTPC said. The announcement was made after market hours yesterday, 3 May 2016.
Tata Motors announced that its total sales of commercial and passenger vehicles rose 8.9% to 39,418 units in April 2016 over April 2015. Domestic sales of Tata commercial and passenger vehicles rose 10% to 35,633 units in April 2016 over April 2015. Sales from exports were flat at 3,785 units in April 2016 compared with corresponding previous year. The company announced the revised monthly sales volume data after market hours yesterday, 3 May 2016.
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JSW Energy said that the company has agreed to acquire the 1,000 MW thermal power plant located at Village Tamnar, District Raigarh in the State of Chhattisgarh from Jindal Steel & Power, subject to receipt of necessary statutory and shareholder consents. The announcement was made before market hours today, 4 May 2016.
Tube Investments of India will in focus after Q4 results. On a consolidated basis, the company's net profit rose 391.83% to Rs 725.55 crore on 28.58% decline in total income to Rs 1716.47 crore in Q4 March 2016 over Q4 March 2015. On a consolidated basis, the company's net profit rose 144.82% to Rs 1038.91 crore on 17.79% decline in total income to Rs 8011.93 crore in the year ended March 2016 over the year ended March 2015. The current and previous period figures are not comparable due to Cholamandalam Investment and Finance Company being considered as an associate instead of a subsidiary with effect from 2 September 2015. The result was announced after market hours yesterday, 3 May 2016.
In a separate announcement after market hours yesterday, 3 May 2016, Tube Investments of India said that its board approved fresh long-term borrowing to meet the company's fund needs during the year ending March 2017 for a sum not exceeding in the aggregate Rs 400 crore, including by way of issue of privately placed secured non-convertible debentures, in one or more tranches.
Adani Power will be in focus after Q4 results. On a consolidated basis, the company's net profit rose 64.10% to Rs 1173.39 crore on 57.36% rise in net sales to Rs 7335.37 crore in Q4 March 2015. On a consolidated basis, the company reported net profit of Rs 488.48 crore in the year ended March 2016 compared with net loss of Rs 815.63 crore in the year ended March 2015. Total income declined 22.18% to Rs 19791.44 crore in the year ended March 2016 over the year ended March 2015. The result was announced after market hours yesterday, 3 May 2016.
Pursuant to the stake sale in Adani Transmission (India) by the company in the previous year, the merger of Solar Power Undertaking of Adani Enterprises with the company with effect from 1 April 2015 and the acquisition of 100% stake of UPCL by the company with effect from 20 April 2015, the figures for the current quarter and year are not fully comparable with the figures of corresponding quarter and previous year.
In a separate announcement after market hours yesterday, 3 May 2016, Adani Power said that its board has approved seeking approval of the shareholders for raising funds by issue of Equity Shares / convertible Bonds through Qualified Institutional Placement (QIP)/GDR/ADR/FCCBs/FCEBs/Convertible Securities for an aggregate amount upto Rs 10000 crore. Shareholders' approval will be also sought in issuing secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company. All the above will be issued in the period of next twelve months through private placement mode.
Alstom T&D India will in focus after Q4 results. The company's net profit fell 44.72% to Rs 29.87 crore on 28.53% decrease in total income to Rs 977.93 crore in Q4 March 2016 over Q4 March 2015. Alstom T&D India's net profit fell 35.71% to Rs 77.51 crore on 7.3% decrease in total income to Rs 3450.31 crore in the year ended March 2016 over the year ended March 2015.
MEP Infrastructure Developers said it won toll collection rights at Paduna toll plaza at National Highway (NH) number 8 in Rajasthan. The company said it received a Letter of Acceptance (LOA) dated 3 May 2016 from National Highways Authority of India (NHAI) informing that the company has been engaged as the contractor for the project of collection of user fee through fee collection agency on the basis of competitive bidding for Paduna toll plaza in Rajasthan. The announcement was made after market hours yesterday, 3 May 2016.
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