Bharat Heavy Electricals (Bhel)'s net profit fell 69.4% to Rs 212.60 crore on 27.48% decline in total income to Rs 6472.06 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours on Thursday, 12 February 2015. Bhel had an outstanding order book position of about Rs 103900 crore as on 31 December 2014.
Coal India's consolidated net profit fell 16.21% to Rs 3262.49 crore on 4.36% rise in total income to Rs 19944.86 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 12 February 2015.
Cipla's consolidated net profit rose 15.3% to Rs 328 crore on 6.5% growth in income from operations to Rs 2765 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 12 February 2015.
Cipla's EBITDA (earnings before interest, taxation, depreciation, and amortization) rose 18.5% to Rs 554 crore in Q3 December 2014 over Q3 December 2013.
Domestic sales rose 14.2% to Rs 1199 crore in Q3 December 2014 over Q3 December 2013. The growth in domestic sales was largely on account of growth in respiratory, anti-infectives, cardiac and gastro intestinal therapies, Cipla said in a statement.
Exports of formulations declined 6.2% to Rs 1275 crore in Q3 December 2014 over Q3 December 2013. Exports of APIs fell 4.4% to Rs 151 crore in Q3 December 2014 over Q3 December 2013.
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Meanwhile, Cipla said it has signed a definitive agreement to acquire 60% stake of Jay Precision Pharmaceuticals (Jay Precision), Mumbai, from the existing shareholders, for a cash consideration of Rs 96 crore. Jay Precision is an existing supplier of respiratory devices to the company and has a state of the art manufacturing facility at Vasai, Maharashtra. Considering company's leading position in inhalation therapy, this transaction is aimed at integrating the value chain and will serve as platform for development of next generation respiratory devices, Cipla said. Pharmaceutical undertaking of Jay Precision Products (India) was demerged into Jay Precision effective 1 January 2014. Turnover of Jay Precision for the year ended 31 March 2014 was Rs 30 crore. The transaction is expected to be completed by end of this financial year, subject to completion of certain conditions precedent, Cipla said.
Cipla said that none of the persons belonging to promoter/promoter group(s) of the company has any interest in the transaction and it is not a related party transaction for the company. The transaction does not require any governmental or regulatory approval(s), Cipla added.
Cipla said before market hours that a binding term sheet has been entered into with the company's existing partner, Biopharm SPA, for establishing a joint venture (JV) company in Algeria. The JV company will manufacture and market respiratory products facilitating Cipla's front-end presence in Algeria. As per the term sheet, the company's wholly owned subsidiary, Cipla (EU), will hold a 40% stake in the JV company while the remainder will be held by a Biopharm-led Algerian consortium. The JV company is expected to make an investment of up to $15 million in the construction of a manufacturing facility. Cipla (EU)'s initial investment in cash in the JV company is expected to be $6 million. None of the persons belonging to Promoter / Promoter Group(s) of the company has any interest in the transaction and it is not a related party transaction for the company. The transaction is subject to execution of definitive agreement and applicable approvals.
Mahindra & Mahindra, State Bank of India, HPCL and Indian Oil Corporation declare their Q3 December 2014 result today, 13 February 2015.
Axis Bank after market hours yesterday, 12 February 2015 said that it has allotted unsecured redeemable non convertible subordinated debentures (Basel - III Compliant Tier II Debentures) (Series - 22) of Rs 10 lakh each for cash at par aggregating to Rs 850 crore.
ITC said before market hours that the company has entered into Asset Purchase Agreements (Agreements) with Johnson & Johnson, India & Johnson & Johnson Pte., Singapore on 12 February 2015, for purchase of 'Savlon' and 'Shower To Shower' trademarks and other intellectual property, respectively, primarily for use in India. These Agreements are subject to customary closing conditions and regulatory permissions as may be necessary.
Tata Steel said after market hours yesterday, 12 February 2015 that Tata Steel Europe, yesterday, 12 February 2015 announced the acquisition of three service centres in Sweden, Finland and Norway to strengthen its offering to manufacturers in the Nordic region.
Tata Steel Europe has reached an agreement with steel producer SSAB to buy its strip products service centres at Halmstad in Sweden and Naantali in Finland. Tata Steel Europe will also acquire from SSAB the remaining 50% stake it does not already own in Norsk St Tynnplater AS, another strip products service centre based in Fredrikstad, Norway.
The three centres process strip products offering services such as cutting-to-length, slitting and recoiling. They supply steel to manufacturers in the automotive, construction and electrical supplies industries, as well as to heavy and light engineering companies, Tata Steel said.
Lupin will be in focus after the Reserve Bank of India yesterday, 12 February 2015, raised the ceiling on investment in the company's shares by foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) under the portfolio investment scheme to 49% of the company's equity capital with effect from 12 February 2015, from earlier 33%. Total FII holding in Lupin stood at 31.77% as on 31 December 2014.
GlaxoSmithKline Pharmaceuticals' (GPL) board of directors at its meeting held yesterday, 12 February 2015, approved the transactions viz. GlaxoSmithKline Plc (GSK), London, UK, (GSK)'s acquisition of Novartis's vaccines business and manufacturing capabilities and facilities from Novartis (AG) (Novartis). The board also approved the transaction for GSK selling the rights to its marketed oncology portfolio, related R&D activities and AKT Inhibitors currently in development to Novartis. The board approved the aforesaid transactions on an asset sale basis with Novartis Healthcare, a private unlisted company incorporated under the Companies Act 1956. Pursuant to the global deal, GPL will have its distribution rights terminated for the oncology portfolio in return for accessing the distribution rights of the acquired vaccines portfolio. The transaction would be profit neutral for the company, GPL said.
The closing of the asset sales between the companies is subject to the receipt of all applicable legal and regulatory approvals, consent, permissions and sanctions as may be necessary from concerned authorities, as well as the closing of the global transactions between GSK and Novartis.
Tata Communications' consolidated net profit rose 197.26% to Rs 108.53 crore on 0.04% decline in total income to Rs 5018.32 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 12 February 2015.
Tata Communications attributed the robust performance during the quarter to significant increase in data revenues coupled with an upswing in the enterprise segment especially from managed services. Improved operational execution in the data segment strengthened the EBITDA margins to 21% for the quarter, it said. The voice business continues to be a steady generator of free cash in spite of a decline in volumes, Tata Communications said. Core business profitability is on an upward trajectory with PAT coming in at Rs 38.90 crore for the quarter, up 27.6% QoQ, a significant turnaround from the corresponding period last year, Tata Communications said in a statement.
Commenting the company's financial performance, Vinod Kumar, MD and CEO, Tata Communications said the company will remain focused on driving innovation and strategic investments in transformational services such as cloud and mobility ensuring long-term stakeholder value.
Max India's net profit spurted 346.83% to Rs 329.33 crore on 40.9% growth in total income to Rs 416.44 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 12 February 2015.
Procter & Gamble Hygiene and Health Care reported 18.4% rise in net profit to Rs 90.66 crore on 11.46% rise in total income to Rs 661.59 crore in Q2 December 2014 over Q2 December 2013.
Procter & Gamble Hygiene and Health Care said that both the Feminine Care and Health Care businesses continued to deliver double-digit growth in a competitive market environment behind superior products, strong innovation and product portfolio strength.
Glenmark Pharmaceuticals consolidated net profit fell 46.9% to Rs 114.77 crore on 6% rise in total income to Rs 1703.43 crore in Q3 December 2014 over Q3 December 2013.
Jaiprakash Power Ventures after market hours yesterday, 12 February 2015 said it has entered into a standstill agreement dated 12 February 2015 with certain holders of the bonds that collectively hold 76.09% per, of the aggregate principal amount of the bonds outstanding as of 12 February 2015. Pursuant to the Standstill Agreement, the standstill period extends until 27 February 2015, Jaiprakash Power said. The Standstill Agreement summarises the key terms on which the parties have reached in-principle agreement in relation to effecting a rescheduling of the company's redemption obligations in respect of the bonds (including the extension of the maturity date) and which is to be documented in, inter alia, a further standstill and voting agreement, subject to certain conditions. The terms of the aforementioned rescheduling are subject to receipt of approval of the Reserve Bank of India, Jaiprakash Power said.
Sadbhav Engineering said that the company, Sadbhav Infrastructure Project (SIPL) (subsidiary of the company) (collectively Sadbhav) and Gammon Infrastructure Projects (GIPL) have executed a binding term sheet whereby Sadbhav has agreed to sell 1.03 crore equity shares of Rs 10 each held in Mumbai Nasik Expressway (MNEL) constituting 19.99% of share capital of MNEL to GIPL for an aggregate consideration of Rs 72 crore. In terms of the term sheet, the company is in the process of transferring its shares in MNEL to SIPL. Definitive agreements are proposed to be executed in this regard. MNEL is the special purpose vehicle to improve, operate and maintain the stretch from Vadape to Gonde section of National Highway 3 in the State of Maharashtra.
SpiceJet reported net loss of Rs 275.03 crore in Q3 December 2014, higher than net loss of Rs 172.80 crore in Q3 December 2013. Total income fell 27.3% to Rs 1322.54 crore in Q3 December 2014 over Q3 December 2013.
Amrutanjan Health Care turns ex-dividend today, 13 February 2015, for interim dividend of Rs 1.10 per share for the year ending 31 March 2015.
SRF turns ex-dividend today, 13 February 2015, for second interim dividend of Rs 5 per share for the year ending 31 March 2015.
Tube Investments of India turns ex-dividend today, 13 February 2015, for interim dividend of Rs 1.50 per share for the year ending 31 March 2015.
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