Sun TV Network's net profit fell 2.3% to Rs 283.07 crore on 24% increase in net sales to Rs 888.88 crore in Q4 March 2019 over Q4 March 2018. The subscription revenues for the quarter rose by about 4% at Rs 319.77 crore, as against Rs 308.84 crore for the corresponding quarter ended 31 March 2018. EBITDA for the quarter ended 31 March 2019 rose about 16% at Rs 608.40 crore as against Rs 522.40 crore for the previous quarter ended 31 March 2018. The result was announced after market hours yesterday, 23 May 2019.
MOIL said it has signed a memorandum of understanding (MoU) for FY 2019-20 with the Ministry of Steel. The MoU envisages an ambitious production target of 14.75 lakh tonnes of manganese ore and capex target of Rs 210 crore, besides other parameters related to turnover, financials, project implementation, R&D, human resource management, etc. The announcement was made after market hours yesterday, 23 May 2019.
Cipla has signed an agreement on Thursday to acquire 26% stake on a fully diluted basis in AMPSolar Power Systems, which is formed for the purpose of setting up a captive solar power project in Maharashtra. The company will invest Rs 12.90 crore for the acquisition, which will be through share purchase, subscription of equity shares and compulsorily convertible debentures. The announcement was made after market hours yesterday, 23 May 2019.
Zuari Agro Chemicals announced that ICRA downgraded both short term and long term funds worth Rs 4,215 crore to 'D'. Rating Agency said the downgrade is on account of the company's cash credit account remaining over utilised for more than 30 days owing to devolvement of a series of Letters of credit beginning April and continuing in May, and liquidity position of the company deteriorated materially due to significant cash losses and delay in subsidy receipts from government of India during April-May. The announcement was made after market hours yesterday, 23 May 2019.
Radico Khaitan announced that CPCB vide its order dated 17 May 2019 (received on 23 May 2019) has revoked its closure directions dated 18 February 2019. There has been no loss of production during this period due to the earlier closure directions. The company's grain plant, malt plant and bottling plants at Rampur, UP, continue to work at their original capacities in compliance with the Zero Liquid Discharge (ZLD) system.
In the order dated 17 May 2019, CPCB has directed the company to restrict its capacity of molasses plant for country liquor from 200 KLD to 77 KLD until 30 June 2019 while the company complies with the 'additional requirements' for its ZLD system. The CPCB has also levied an additional environmental compensation of Rs 1.18 crore in addition to Rs 27 lakh already deposited by the company without prejudice. While this will not impact IMFL manufacturing operations of the company, the impact on the country liquor manufacturing is expected to be minimal. Radico Khaitan said it is taking suitable action to in compliance with the order. The announcement was made after market hours yesterday, 23 May 2019.
Omax Autos said it entered into an asset purchase agreement with Hema Engineering Industries on 22 May 2019 for sale of its identified assets located in Haryana. The underlying transactions would be consummated gradually as per terms of the said agreement. The announcement was made after market hours yesterday, 23 May 2019.
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Zensar Technologies said it has partnered with South African based insurance company Sanlam to provide company-wide digital transformation. The announcement was made after market hours yesterday, 23 May 2019.
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