Reliance Industries is scheduled to announce its Q4 March 2016 results today, 22 April 2016.
Among other prominent companies, Cairn India and HDFC Bank are scheduled to announce their Q4 March 2016 earnings today, 22 April 2016.
Bharti Infratel said that the company's board of directors will consider the recommendations for distribution of profits till the year ended 31 March 2016 (FY 2016), by way of dividend or buyback of a portion of fully paid up equity shares or a combination thereof, in its meeting to be held on 26 April 2016, when the company announces its FY 2016 results. The announcement was made before market hours today, 22 April 2016.
Hindustan Zinc's net profit rose 8% to Rs 2149 crore on 25% decline in revenue to Rs 3070 crore in Q4 March 2016 over Q4 March 2015. The result was announced at the fag end of the trading session yesterday, 21 April 2016. The decrease in revenue was on account of lower zinc volumes and LME prices, partly offset by higher volumes of lead & silver and rupee depreciation. Net profit rose helped by higher other income due to mark to market gains on investment income. Additionally, the provision for tax during the quarter was negative largely on account of substantial liquidation of investments at year end for payment of special dividend; the corresponding realised profits were set off by carried forward tax losses, significantly lowering the tax for the year.
The zinc metal cost of production per metric tonne (MT) before royalty stood at Rs 58044 ($853) in Q4 March 2016, higher by 4% from a year ago in dollar terms and 14% in rupee terms. The increase was due to lower production volumes from Rampura Agucha open cast mine in accordance with mine plan resulting in lower average grades. This was further accentuated by higher mine development, partly offset by lower coal & commodity prices. Looking at the recent commodity price downturn, the company has re-negotiated several contracts to optimize costs and expect this to translate into significant savings in year ending 31 March 2017 (FY 2017).
The company expects to reach the 1.2 million tonnes per annum (mtpa) mined metal production capacity within the next three years.
More From This Section
Power Finance Corporation announced that Odisha Generation Phase-II Transmission, established for development of common transmission system for phase-II generation projects in Odisha, has been transferred to Sterlite Grid 3, the successful bidder. Odisha Generation Phase-II Transmission is a wholly owned subsidiary of PFC Consulting, which in turn is a wholly owned subsidiary of Power Finance Corporation. The announcement was made after market hours yesterday, 21 April 2016.
Dishman Pharmaceuticals and Chemicals announced that it has fixed 3 May 2016 as the record date for the purpose of 1:1 bonus issue of shares. The announcement was made after market hours yesterday, 21 April 2016.
UFO Moviez India announced that the rating committee of ICRA has reaffirmed its long-term rating on the company of [ICRA] A plus. The outlook on the long-term rating has been upgraded to positive from stable. The rating committee of ICRA has upgraded its short-term rating on the company to [ICRA]A1 plus from [ICRA] A1. These ratings are valid till 30 March 2017. The announcement was made after market hours yesterday, 21 April 2016.
BS announced that a meeting of the board of directors of the company will be held on 29 April 2016, inter alia, to consider, discuss and review the status of the strategic business plan of the company with respect to acquisition of assets, which was approved by the board of directors and shareholders of the company at their meetings held on 20 May 2015 and 30 September 2015 respectively. The announcement was made after market hours yesterday, 21 April 2016.
Panyam Cements & Mineral Industries announced that a meeting of the board of directors of the company will be held on 28 April 2016, to consider and approve allotment of secured redeemable non convertible debentures to EW India Special Assets Fund and ECap Equities. The announcement was made after market hours yesterday, 21 April 2016.
Powered by Capital Market - Live News