Larsen & Toubro (L&T)'s consolidated profit after tax rose 7% to Rs 862 crore on 10.4% growth in gross revenue to Rs 21331 crore in Q2 September 2014 over Q2 September 2013. The result hit the market after trading hours on Friday, 7 November 2014.
L&T's consolidated order intake rose 17% to Rs 39797 crore in Q2 September 2014 over Q2 September 2013. The International order inflow during the quarter at Rs 6756 crore constituted 17% of the total order inflow. Major orders during the quarter were secured by the infrastructure, power and hydrocarbon segments. L&T's consolidated order book stood at Rs 2.14 lakh crore as on 30 September 2014, higher by 14% on a year-on-year basis. International order book constituted 27% of the total order book.
With regard to future business outlook, L&T said that while continuing to pursue international business on selective basis, the company with its capabilities spanning across several core sectors, is poised to grow its domestic order book and maintain its leadership position as the opportunities emerge.
Coal India's consolidated net profit fell 28.17% to Rs 2192.38 crore on 0.6% growth in total income to Rs 17700.12 crore in Q2 September 2014 over Q2 September 2013. The result was announced on Saturday, 8 November 2014.
NTPC will be in focus after the company's Chairman & Managing Director Dr Arup Roy Choudhury on Friday, 7 November 2014, said that the company currently has 42 units under construction totalling 23,854 megawatts (MW) capacity. He was speaking at NTPC's first International Technical Summit titled 'Global Energy Technology Summit' GETS 2014 in New Delhi. A.K.Jha, Director Technical NTPC mentioned that in house engineering capability has been the key differentiator for NTPC in the industry. The entire engineering for all 42 units under construction at 21 different locations all over the country in thermal, hydro and renewables is being done in house, he said.
Sun TV Network's net profit declined 8.68% to Rs 154.47 crore on 5.35% growth in total income to Rs 531.22 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 7 November 2014.
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The company's advertisement revenue rose 11.43% to Rs 260.26 crore in Q2 September 2014 over Q2 September 2013. DTH revenue rose 20% to Rs 130.07 crore in Q2 September 2014 over Q2 September 2013.
EBITDA rose 17.21% to Rs 395.81 crore in Q2 September 2014 over Q2 September 2013.
Sun TV Network's board of directors at its meeting held on 7 November 2014, declared interim dividend of Rs 2.25 per share for the year ending 31 March 2015.
Central Bank of India (CBI) reported a net profit of Rs 102.91 crore in Q2 September 2014 compared with net loss of Rs 1508.74 crore in Q2 September 2013. Total income rose 12.58% to Rs 7021.10 crore in Q2 September 2014 over Q2 September 2013. The result was announced on Saturday, 8 November 2014.
CBI's provisions and contingencies declined 65.45% to Rs 707.77 crore in Q2 September 2014 over Q2 September 2013.
The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 6.14% as on 30 September 2014 as against 6.15% as on 30 June 2014 and 6.47% as on 30 September 2013. The ratio of net NPAs to net advances stood at 3.38% as on 30 September 2014 as against 3.62% as on 30 June 2014 and 3.77% as on 30 September 2013.
Neyveli Lignite Corporation (NLC)'s net profit rose 8.06% to Rs 259.35 crore on 1.42% growth in sales turnover to Rs 1402.49 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 7 November 2014.
During the first half of FY 2015 NLC has generated 9,983.10 million units of power, achieving 100.04% of the set target, the company said in a statement.
MMTC reported a net loss of Rs 10.08 crore in Q2 September 2014, slightly lower than net loss of Rs 10.40 crore in Q2 September 2013. Total income declined 66.08% to Rs 2547.76 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 7 November 2014.
Jet Airways (India) reported a net profit of Rs 70 crore in Q2 September 2014 compared with net loss of Rs 891 crore in Q2 September 2013. Revenue rose 16% to Rs 4772 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 7 November 2014.
Total revenue (combined) rose 13.7% to Rs 5092 crore in Q2 September 2014 over Q2 September 2013. Passenger revenues rose 13.9% to Rs 4277 crore in Q2 September 2014 over Q2 September 2013. Cargo revenue rose 10.5% to Rs 379 crore in Q2 September 2014 over Q2 September 2013. The combined load factor increased by 1.2 percentage points from 77.4 in Q2 September 2013 to 78.6 in Q2 September 2014, as the airline gained new customers. Yield was up by a strong 6.4%, as the business plan to reshape the airline, and the benefits of the partnership with Etihad Airways, took hold, Jet Airways (India) said in a statement.
Cramer Ball, CEO of Jet Airways said, I am extremely pleased by the progress that is evident across several areas during the quarter. This is in keeping with our three-year turnaround plan. The operational restructuring initiatives with route and network rationalisation are already yielding dividends on the domestic and international network. The organic network expansion, coupled with enhanced global connectivity through alliances and codeshares, has also helped increase international passenger traffic. All of which makes me confident that our move to a single brand by December, will help provide our guests with exceptional value and a significantly enhanced and consistent product offering. In our commitment to improve our customer's experience, the JetPrivilege Programme has been enhanced by the introduction of a new mileage accrual and reward structure, as well as new strategic partnership that will add value and strengthen the travel experience for our Jet Privilege members.
Essar Oil reported net profit of Rs 226 crore in Q2 September 2014 compared with net loss of Rs 71 crore in Q2 September 2013. Gross revenues fell 11.67% to Rs 24194 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 7 November 2014.
The dip in revenues is mainly due to lower crude oil price during Q2 September 2014. Current Price Gross Refining Margin (CP GRM) for Q2 September 2014 was $7.03/bbl, as compared to $6.93/bbl in Q2 September 2013. During the quarter, Vadinar Refinery processed 5.04 million metric tonnes (MMT) of crude, vs 5.18 MMT during the same period last year. Throughput during the quarter was lower by 3% due to seven days planned shutdown and five days of capacity slowdown.
Talking on the results, Mr. L.K. Gupta, Managing Director and CEO, Essar Oil, said: Inspite of a partial planned shutdown of seven days, Vadinar Refinery's throughput continues to be above its rated capacity, demonstrating strong ability of the company to sweat its assets in the most optimized yet safe manner. We remain focused towards achieving operational and performance excellence.
Mr. Suresh Jain, CFO, Essar Oil said, financials for the quarter were impacted on account of decline in cracks of key products and weakness in oil prices which is partly offset by operational efficiency and reduction in interest and financial charges due to part dollarization of our debt. We expect to complete our balance dollarization programme by end of FY15 to further reduce our overall cost of debt."
During the quarter, Essar Oil realized 52% of its revenues from the domestic market against 44% in Q2 September 2013. Essar Oil has over 1,400 retail outlets across the nation, with about 300 in various stages of commissioning. With the government announcing deregulation of diesel prices, Essar Oil has begun retail sales of diesel through its retail outlets.
At its flagship Raniganj CBM block, current gas production is around 250,000 standard cubic metres per day (scm/d), which is being sold locally through pipeline and cascades. The company has drilled 229 wells and laid requisite infrastructure including pipelines to supply CBM Gas to end consumers. Three Gas Gathering Stations (GGS) are complete and one more is under construction.
Religare Enterprises reported consolidated net profit of Rs 11 crore in Q2 September 2014 compared with consolidated net loss of Rs 21.94 crore in Q2 September 2013. Total income rose 14.92% to Rs 964.28 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 7 November 2014.
Gujarat State Petronet's net profit rose 48.57% to Rs 169.47 crore on 25.83% rise in total income to Rs 366.20 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 7 November 2014.
CESC will be in focus as shares allotted by the company to institutional investors under Qualified Institutional Placement (QIP) are admitted for trading on the bourses today, 10 November 2014. A total of 76.21 lakh shares will be admitted for trading. CESC had priced the issue of shares to institutional investors at Rs 644 per share.
Jaypee Infratech's net profit rose 11.67% to Rs 115.90 crore on 6.94% growth in total income to Rs 115.90 crore on 6.94% growth in total income to Rs 857.41 crore in Q2 September 2014 over Q2 September 2013. The result was announced on Saturday, 8 November 2014.
Finolex cable's net profit fell 1.3% to Rs 78.94 crore on 7.94% growth in total income to Rs 673.87 crore in Q2 September 2014 over Q2 September 2013. The result was announced on Saturday, 8 November 2014.
FAG Bearings India announced on Saturday, 8 November 2014, that the Board of Directors of the company at its meeting held on 6 November 2014, has considered and approved purchase by the company all of the equity shares of 'FAG Roller Bearings' from the remaining shareholders. The proposed acquisition of shares will be completed in 2015.
Sintex Industries announced on Saturday, 8 November 2014, that pursuant to the approval of the shareholders of the company at the 81st Annual General Meeting of the company held on 17 September 2012; for issue of $140 million 7.5%, step down Convertible Bonds due 2017, the Committee of Directors at its meeting held on 8 November 2014 has allotted 8.36 lakh shares of Rs 1 each to Foreign Currency Convertible Bonds (FCCB) holders on the exercise their conversion right.
Indiabulls Real Estate announced on Saturday, 8 November 2014, that CENTURY, a wholly owned subsidiary of the company in Jersey has finalised the issuance of 10.25% "Guaranteed Senior Notes" aggregating to $175 million. The Notes will be issued on 12 November 2014 and will bear interest from 12 November 2014 at 10.25% per annum payable semi-annually in arrears on May 12 and November 12 of each year, beginning 12 May 2015. The Notes will mature on 12 November 2019. These Notes will be listed on the Singapore Exchange Securities Trading Limited (the SGX-ST). The Notes are / will be guaranteed by the company and certain of its subsidiaries capped at an amount equal to 200% of the total initial aggregate principal amount of the Notes.
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