On a consolidated basis, Tata Steel's net profit jumped 126.17% to Rs 762.96 crore on 15.23% fall in total income to Rs 31062.50 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 11 August 2015.
Tata Steel's bottom line in Q1 June 2015 was boosted by a surge in non-operational income and also due to one-time and exceptional items. The operating performance was weak. The company's earnings before interest, taxation, depreciation and amortization (EBITDA) after adjusting for one-time and exceptional items fell 35.28% to 2799 crore in Q1 June 2015 over Q1 June 2014. Tata Steel's non-operational income or other income jumped 252.62% to Rs 762.17 crore in Q1 June 2015 over Q1 June 2014.
Consolidated steel deliveries fell to 6.33 million tonnes in Q1 June 2015 from 6.46 million tonnes in Q1 June 2014.
Tata Steel said that there was significant import of steel into India during the quarter which depressed local steel prices. Tata Steel's turnover from its Indian operations fell 13.12% to Rs 9094 crore in Q1 June 2015 over Q1 June 2014.
T V Narendran, Managing Director of Tata Steel India and South East Asia, said that the Indian steel industry continued to bear the brunt of a surge in imports and tepid domestic demand which led to a sharp drop in steel prices over the quarter. Phased commissioning of the 3 MTPA greenfield expansion project at Kalinganagar has started and the company is gearing up to commence commercial production in second half of year ending 31 March 2016.
With regard to European operations, Tata Steel said that the European operations' liquid steel production and deliveries, both, increased by more than 7% on year-on-year basis in Q1 June 2015, reflecting the more stable operating platform. But surging EU imports, especially from China, and, in the case of the UK operations, the appreciation of sterling against the euro, led to lower turnover and EBIT for the European operations, Tata Steel said. The company is combating these headwinds by progressing market differentiation strategy, improving cost base and shifting focus increasingly from volume to value, the company said.
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At the EBIT level, the European operations of Tata Steel reported a loss of Rs 124 crore in Q1 June 2015 as against profit of Rs 136 crore in Q1 June 2014. EBITDA of Tata Steel's European operations fell 42.21% to Rs 575 crore on 13.91% decline in turnover to Rs 17855 crore in Q1 June 2015 over Q1 June 2014.
On a consolidated basis, Sun Pharmaceutical Industries reported 60.23% drop in net profit to Rs 478.96 crore on 6.72% rise in total income from operations (net) to Rs 6767.68 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 11 August 2015.
The Q1 June 2015 net profit was adversely impacted by one-time items as well as exceptional charges of Rs 685 crore, Sun Pharmaceutical Industries said. These exceptional charges relate to impairment of fixed assets and goodwill and other related costs and have arisen on account of integration and optimization measures, the company said.
Sun Pharmaceutical Industries EBITDA stood at Rs 1614 crore in Q1 June 2015, resulting in EBITDA margin of 24.7%. EBITDA for Q1 June 2015 includes certain one-time charges related to restructuring and other write-offs. Excluding these one-time items, adjusted EBITDA margin was at 28% in Q1 June 2015 compared to 30.2% in Q1 June 2014
Sun Pharmaceutical Industries said that the financials for Q1 June 2015 include several one-time and exceptional charges related to the integration of Sun and Ranbaxy businesses, and hence are not strictly comparable with Q1 June 2014. Both these quarters include the financials of erstwhile Ranbaxy Laboratories, Sun Pharmaceutical Industries said.
Dilip Shanghvi, Managing Director of Sun Pharmaceutical Industries said that the company continues to invest significantly in R&D and in building critical talent for enhancing specialty and complex generics pipeline.
Sun Pharmaceutical Industries said that the Board of Directors of the Company at its meeting held on 11 August 2015, has recorded the approval of the Scheme of Amalgamation of Sun Pharma Global Inc., wholly-owned subsidiary of the Company, into Sun Pharmaceutical Industries with effect from the appointed date of 1 January 2015 as per the order of the High Court of Gujarat, at Ahmedabad at its hearing held on 30 July 2015 and accordingly after taking into effect the above Scheme and recommendation of the payment of dividend, approved the revised annual accounts for the year ended 31 March 2015.
Net profit of HPCL rose 3349.3% to Rs 1588.04 crore on 12.6% decline in net sales to Rs 51720.40 crore in Q1 June 2015 over Q1 June 2014. The result was announced after trading hours yesterday, 11 August 2015.
NMDC reported 47.25% fall in net profit to Rs 1010.12 crore on 48.04% fall in total income from operations (net) to Rs 1806.43 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 11 August 2015.
On a consolidated basis, Astral Poly Technik reported 10.9% rise in net profit to Rs 22.27 crore on 41.99% rise in total income from operations (net) to Rs 386.50 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 11 August 2015.
TRF received an order worth Rs 73.90 crore from BHEL ISG Bangalore for design, engineering, manufacturing, supply, erection and commissioning for stacker cum reclaimer package for 1X800 megawatts (MW) Kothagudem TPS, stage-VII, unit #12 and 4x270 MW Bhadradri TPS. The announcement was made after market hours yesterday, 11 August 2015.
KEC International won new orders worth Rs 838 crore in its transmission and distribution and cables businesses. The announcement was made after market hours yesterday, 11 August 2015.
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