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L&T, Coal India in spotlight after declaring Q2 results

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Last Updated : Nov 14 2017 | 12:01 AM IST

L&T's consolidated net profit surged 31.86% to Rs 2020.30 crore on 4.96% rise in total income to Rs 26984.79 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 11 November 2017.

The company secured orders worth Rs 28732 crore at the group level during the quarter amidst subdued business environment, policy uncertainties and delayed implementation. International orders at Rs 10420 crore constituted 36% of the total order inflow. Consolidated order book of the group stood at Rs 257526 crore as at 30 September 2017, higher by 2% on a y-o-y basis with international order book constituting 26% of the total order book.

Consolidated profit after tax (PAT) before exceptional items rose 63% to Rs 1683 crore in Q2 September 2017 over Q2 September 2016. Overall PAT including exceptional gain of Rs 137 crore on divestment of a subsidiary rose 26.83% to Rs 1820 crore in Q2 September 2017 over Q2 September 2016.

L&T in its outlook said that the government's determined efforts to revive the investment sentiment while undertaking impactful economic reforms have expectedly caused transition challenges. While the potential for investment in growth remains compelling, the readjustment to the continuing impact of currency purge and the accelerated implementation of GST has upset business environment and tripped growth in an economy already beset with twin challenges of attracting investments and adhering to fiscal rectitude, L&T said.

Globally, the developed economies appear hopeful of a recovery and better growth prospects. The investment climate in the company's focus market Middle East continues to provide some selective opportunities despite the oil price shock and the geo-political risks, it said.

The company expects that the various reforms and economic measures over the past year would take some more time to stoke growth. Focus for the company continues to remain on improvement of return on equity through reduction of working capital and higher operational efficiencies, it added.

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Coal India's consolidated net profit dropped 39.77% to Rs 368.88 crore on 6.43% rise in total income to Rs 18759.01 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 11 November 2017.

Mahindra & Mahindra (M&M) said that the company has fixed 23 December 2017 as the record date issue of bonus shares. The announcement was made on Saturday, 11 November 2017. It may be recalled that board of directors of M&M at its meeting held on 10 November 2017 had recommended issue of bonus shares in the proportion of 1:1, i.e. one bonus share for every one share held as on record date.

BPCL's net profit rose 80.6% to Rs 2357.40 crore on 19.3% growth in net sales to Rs 53325.20 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours on Friday, 10 November 2017.

Shares of The New India Assurance Company will debut on the bourses today, 13 November 2017. The company's initial public offering (IPO) received bids for 14.33 crore shares compared with 12 crore shares on offer, as per NSE data. The IPO was subscribed 1.19 times. The issue price was fixed at the top end of the IPO price band of Rs 770 to Rs 800 per share. The New India Assurance Company is a century old public sector general insurance company.

Adani Ports & Special Economic Zone and NTPC will announce their Q2 results today, 13 November 2017.

Nestle India's net profit rose 23.26% to Rs 343.17 crore on 7.45% rise in total income to Rs 2557.09 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours on Friday, 10 November 2017.

Britannia Industries' consolidated net profit rose 11.58% to Rs 261.05 crore on 6.92% rise in total income to Rs 2596.26 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 11 November 2017.

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First Published: Nov 13 2017 | 8:50 AM IST

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