Idea Cellular after trading hours on Thursday, 24 October 2013, said its profit after tax (PAT) rose 13.2% to Rs 398.50 crore in Q2 September 2013 from Rs 351.90 crore (despite including Rs 154.30 crore dividend from Indus) in Q2 September 2012. Revenue jumped 18.1% to Rs 6317 crore in Q2 September 2013 over Q2 September 2012. Revenue growth and scale benefit translated into healthy EBITDA margin of 27.6% in Q2 September 2013. EBITDA margin registered year-on-year (YoY) improvement by 4%, the company said.
The company's consolidated profit after tax (PAT) jumped 86.5% to Rs 447.60 crore in Q2 September 2013 over Q2 September 2012. Revenue, including 16% Indus contribution rose 19% on YoY basis in Q2 September 2013. The consolidated EBITDA margin of 31.2% in Q2 September 2013 is a YoY improvement of 4.4%, Idea Cellular said. The company announced Q2 result after market hours.
As competitive intensity in the telecom sector declines and as the overcapacity phase comes to an inevitable end and also as visibility of spectrum quantum and pricing improves, Idea Cellular expects to further consolidate its position in the telecom voice and data market, the company said in a statement.
On a consolidated basis, Biocon's net profit rose 13.94% to Rs 102.15 crore on 17.23% increase in total income to Rs 752.54 crore in Q2 September 2013 over Q2 September 2012.
The branded formulations vertical grew at 9% in Q2 September 2013 over Q2 September 2012, compared with the industry growth of 3%. The company has seen sustained challenges in the Indian Pharma market (IPM), which de-grew by 2% in September 2013. Systemic hurdles led by the chaotic implementation of the recent NPPA guidelines and the trade disputes on margins have resulted in widespread de-stocking and reduced off take, the company said.
Commenting on the results, Chairman and Managing Director, Kiran Mazumdar-Shaw stated, "Biocon has witnessed a strong performance in the first half of FY14 driven by an increased traction in emerging markets. Immuno-suppressants and Insulins continue to drive growth. This is in part bolstered by capacity expansion of our Insulins plant. Our bio-similar pipeline partnered with Mylan, continues to progress well and we anticipate Indian regulatory approval for our biosimilar Trastuzumab in the near future. The Research Services vertical has delivered a stellar set of numbers, despite an exceptional forex loss in Q2 FY14. This quarter also saw the launch of our second novel biologic, Alzumab(TM), for Psoriasis in India. Alzumab(TM) has already seen an encouragingly strong acceptance in the market. The Branded Formulations business has grown ahead of the market but has been muted by business and regulatory challenges. We remain confident that growth will continue across all businesses."
ITC, ICICI Bank and GAIL (India) unveil Q2 results today, 25 October 2013.
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NMDC's net profit declined 21.46% to Rs 1318.36 crore on 5.53% fall in total income to Rs 3018.29 crore in Q2 September 2013 over Q2 September 2012. The company announced result after market hours on Thursday, 24 October 2013.
The company's production of iron ore rose over 10% to 5.94 million tonnes (MT) while sales of iron ore rose about 11% to 6.50 MT in Q2 September 2013 over Q2 September 2012.
NMDC said that it has planned capital expenditure of Rs 2720 crore including Rs 100 crore for overseas acquisitions for the year ending 31 March 2014. So far, the capital expenditure of Rs 1125 crore has been incurred.
The installation of 3 MTPA steel plant at Nagarnar in Chhattisgarh, as part of NMDC's forward integration programme and value addition, is being pursued vigorously. Orders for major technological packages have already been placed, other auxiliary packages are in advanced stages of finalization and construction works of the major packages are being undertaken on war footing, the company said.
As part of its expansion programme, NMDC is developing two new mines, one in Bailadila Sector in Chhattisgarh i.e. Deposit-11B Iron Ore Project and the other in Bellary-Hospet region in Karnataka i.e. Kumaraswamy Iron Ore Mine. Besides, orders have already been placed for setting up of 1.2 MTPA capacity Pelletisation plant in Karnataka.
C.S. Verma, CMD of NMDC said, "NMDC is gearing up to ramp up its production and dispatches vigorously which is evident from these results. Inspite of adverse conditions, NMDC has outperformed by showcasing growth in both production and dispatches. The resilient nature of NMDC would ensure to cope up with the challenges and would create new opportunities for sustainable growth".
HDFC Bank said after market hours on Thursday, 24 October 2013 that the bank, acting through its Bahrain branch, has priced on 23 October 2013, $500 million Fixed Rate Senior Unsecured Notes (Notes) under its $2 billion MTN programme. The Notes carry a coupon of 3% per annum payable semi annually and are maturing on 30 November 2016. The Notes will be listed on the Singapore Stock Exchange.
Cairn India turns ex-dividend for an interim dividend of Rs 6 per share for the year ending March 2014.
TCS turns ex-dividend today, 25 October 2013, for a second interim dividend of Rs 4 per share for the year ending March 2014.
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