On a consolidated basis, DLF's net profit fell 4.69% to Rs 122 crore on 26.67% increase in total income to Rs 2346 crore in Q1 June 2015 over Q1 June 2014. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) rose 9% to Rs 942 crore in Q1 June 2015 over Q1 June 2014.
The company said it continues to focus on, execution of projects and expects to deliver approximately 20 msf over next few quarters, resulting in creation of finished product inventory. The company said it believes it would be more fruitful to be prepared for the up cycle in the market by readying finished stock rather than launching new projects in these tepid market conditions. The company added that is working towards creation of world class infrastructure augmenting its core market of DLF City including DLF5 and Cyber City and looks forward to replicate the same to other developments as well.
The committee of independent directors is expected to shortly provide guidance on the best way forward for the growth of the rental business and the best solution for resolving the CCPS issue, the company said in a statement.
The company said it believes that it has created a large platform of rent yielding office and retail assets, which it looks forward to partially monetise. This strategy shall allow the company to sharply reduce its debt, leading to resultant growth in shareholder value.
The company has commenced development of a new office complex in the Cyber City area in Gurgaon. It expects to commence commercial operations of the Mall of India, NOIDA, upon receipt of regulatory approvals, it said.
DLF further said that it remains committed to meet all its commitments towards all stakeholders and is grateful for the support of all stakeholders in these times.
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BPCL, Hindalco Industries and Steel Authority of India will announce quarterly results today, 14 August 2015.
Shares of Bharti Airtel will be in focus. With reference to the media reports captioned Airtel eyes BSNL's spectrum, Bharti Airtel after market hours yesterday, 13 August 2015 clarified that the company in ordinary course of business has written a letter to BSNL expressing its preliminary interest for entering into intra circle roaming arrangements with BSNL.
Nestle India said that the company respects the decision made on 13 August 2015 by the Bombay High Court to revoke the ban order passed by Food Safety and Standards Authority of India (FSSAI) and the FDA, Maharashtra on MAGGI Noodles and will comply with the order to undertake fresh tests. The announcement was made after market hours yesterday, 13 August 2015. Nestle India said that the trust of consumers and safety of products are the company's utmost priorities across all the markets under operation. The company remains committed to working with the FSSAI, FDA Maharashtra and other stakeholders, Nestle India said. It is Nestle India's endeavour to get MAGGI Noodles back on the shelves as soon as possible for the benefit of consumers, the company said. The copy of the Judgment is awaited, it added.
Hathway Cable & Datacom said that the company had applied for approval of Foreign Investment Promotion Board (FIPB) for increasing foreign investment limit only for Foreign Institutional Investors including its sub-accounts (FIIs), Foreign Portfolio Investors (FPIs), etc. under the Portfolio Investment Scheme in accordance with Schedules 2 and 2A of the FEMA (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 in the company from 49% of its issued and fully paid up share capital under the automatic route to 74% of its issued and fully paid up share capital under the approval/government route and consequent transfer/change of ownership only (and not control) of the company from persons resident in India to persons resident outside India, if any. In this regard, FIPB has approved the increase under the automatic route to 74% of its issued and fully paid up share capital for FMs and FPIs under Portfolio Investment Scheme vide letter dated 3 August 2015, Hathway Cable & Datacom said. The announcement was made after market hours yesterday, 13 August 2015.
On a consolidated basis, ICRA reported 24.32% fall in net profit to Rs 16.49 crore on 6.14% rise in total income to Rs 85.95 crore in Q1 June 2015 over Q1 June 2014. The announcement was made after market hours yesterday, 13 August 2015.
IFGL Refractories said that there has been explosion in Tianjin Industrial Area of China where company's two subsidiaries, Tianjin Monocon Refractories and Tianjin Monocon Aluminous Refractories Co are located. There have been no major damage to the company's facilities however, all operations have been temporarily suspended by the local authorities and are expected to start shortly, IFGL Refractories said. The announcement was made after market hours yesterday, 13 August 2015.
Shree Renuka Sugars reported net loss of Rs 227.20 crore in Q1 June 2015, higher than net loss of Rs 80.60 crore in Q1 June 2014. Total income increased 33.68% to Rs 1550.90 crore in Q1 June 2015 over Q1 June 2014. The announcement was made after market hours yesterday, 13 August 2015.
V-Mart Retail said that the company has opened a new store located at Srishty Enclave in Uttar Pradesh. This is the 52nd store in the state of Uttar Pradesh across 40 cities. With this, the company has increased the tally of the state to 16 Composite & 36 Fashion Stores. This takes the total number of stores to 110 in 92 cities across 12 states with a total area of 9.007 lakhs Sq. Ft, V-Mart Retail said. The announcement was made after market hours yesterday, 13 August 2015.
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