Tata Steel reported a consolidated net profit of Rs 1035.87 crore in Q4 March 2014 as against net loss of Rs 6528.51 crore in Q4 March 2013. Total income from operations rose 22.44% to Rs 42428.05 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Wednesday, 14 May 2014.
Tata Steel reported a consolidated net profit of Rs 3594.89 crore in the year ended 31 March 2014 (FY 2014) as against net loss of Rs 7057.62 crore in the year ended 31 March 2013 (FY 2013). Total income from operations rose 10.31% to Rs 148613.55 crore in FY 2014 over FY 2013.
Tata Steel said that the actuarial gains and losses on funds for employee benefits (pension plans) of Tata Steel Europe for the period from 1 April 2008 have been accounted in Reserves and Surplus in the consolidated financial statements in accordance with IFRS/IND AS principles and as permitted by Accounting Standard 21. Had the company recognised changes in actuarial valuations of pension plans of Tata Steel Europe in the statement of profit and loss, the consolidated profit after taxes, minority interest and share of profit of associates for the year ended 31 March 2014 would have been lower by Rs 628.23 crore (Rs 247.90 crore for the quarter) and the consolidated loss after taxes, minority interest and share of profit of associates for the year ended 31 March 2013 would have been higher by Rs 317.26 crore (lower by Rs 1504.80 crore for the quarter), Tata Steel said.
Tata Steel's board of directors at its meeting held on Wednesday, 14 May 2014, recommended a dividend of Rs 10 per share for FY 2014.
Tech Mahindra's consolidated net profit declined 39.18% to Rs 614.20 crore on 3.25% growth in revenue from services to Rs 5058.10 crore in Q4 March 2014 over Q3 December 2013. The result was announced after market hours on Wednesday, 14 May 2014.
Tech Mahindra's operating profit declined 5.67% to Rs 1071.80 crore in Q4 March 2014 over Q3 December 2013.
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Tech Mahindra's profit after tax (PAT) surged 54.9% to Rs 3029 crore on 31.4% growth in revenue to Rs 18831 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
EBITDA (earnings before interest, taxation, depreciation and amortization) rose 36.6% to Rs 4184 crore in FY 2014 over FY 2013.
Tech Mahindra said that the results for the quarter and year ended 31 March 2014 include the results of merged entities giving effect to the scheme, while the results of the corresponding periods of the previous years and the previous year ended 31 March 2013 do not include the results of the merged entities and hence the same are not comparable.
The company's debt as of 31 March 2014 stood at Rs 363 crore. The company said it repaid Rs 796 crore in FY 2014. Cash and cash equivalent stood at Rs 3599 crore as of 31 March 2014. Active client count stood at 629 as against 516 in FY 2013, the company said in a statement.
Vineet Nayyar, Executive Vice Chairman, Tech Mahindra said, This has been a landmark year for Tech Mahindra with the creation of an integrated entity through one of the largest mergers in India. Our superioe execution capabilities and ability to offer expanded service lines to our customers will help in aiding our future growth.
C P Gurnani, MD & CEO, Tech Mahindra said, Our result this year is a reflection of our commitment towards growth and our passion to help our customers deal with the needs of a dramatically changing world, fuelled by hyper connectivity, and decisions at the speed of thought. I want the world to know that Tech Mahindra is well tuned to these aspects of modern business and we look at this a differentiator for growth".
Tech Mahindra's board of directors at its meeting held on Wednesday, 14 May 2014, recommended a dividend of Rs 20 per share for FY 2014.
On a consolidated basis, Asian Paints' net profit rose 14.46% to Rs 287.42 crore on 21.47% increase in total income to Rs 3,338.19 crore in Q4 March 2014 over Q4 March 2013.
Bajaj Auto, NTPC, Adani Ports & Special Economic Zone, Adani Power, Apollo Tyres, Bajaj Holdings, Bank of India, Deepak Fertilizers and Petrochemicals Corporation, EID Parry (India), Gujarat Gas, Jammu and Kashmir Bank, Karnataka Bank, Manappuram Finance, Tata Teleservices (Maharashtra), TTK Prestige and Videocon Industries, among others, will announce their January-March 2014 earnings today, 15 May 2014.
Wipro announced that it has won a seven-year engagement with Xoserve, an organization which is an integral part of the gas distribution and transmission market in Britain. Xoserve supports Britain's gas market through the provision of centralised information and data services for gas transporters and shippers. The company is jointly owned by the five major gas distribution Network companies and National Grid's Gas Transmission business.
The Wipro contract is part of the UK Link Programme which will involve the replacement of Xoserve's two decade old legacy UK Link suite of applications by best-in-class enterprise applications with more contemporary technologies. UK Link is a suite of highly complex information and technology systems, managed by Xoserve on behalf of the UK Gas Industry that ensure the smooth running of Britain's competitive gas market. The new platform will enable Xoserve to meet the expected demand growth generated by the roll-out of Smart Meters in the United Kingdom as well as enable Xoserve to be more responsive to changes in the gas market.
The UK Link Programme, led by Xoserve and supported by a number of business partners, will help meet a number of customer and industry wide requirements for the medium to long term. These include the ability to receive and store more meter readings; to introduce more flexibility in system enhancement and reporting and the ability for the gas market to utilise information from smart meters for the benefit of customers, Wipro said in a statement.
Crompton Greaves has sealed a deal with Spain's leading energy group, Iberdrola Ingenieria y Construccion S.A.U., which is supervising the Nairobi Metropolitan Ring Project, to supply high-voltage (HV) equipment for the under-construction 220/66 kV substations around the Greater Nairobi Metropolitan Area. The order, worth $15 million, involves the supply of six 200 MVA, 220/66kV HV power transformers, circuit breakers, instrument transformers and lightning arresters. The project is scheduled for completion by the end of 2014.
Nestle India turns ex-dividend today, 15 May 2014, for total dividend of Rs 25 per share. Of this, Rs 12.50 per share interim dividend is for year ending 31 December 2014 and final dividend of Rs 12.50 per share for the financial year ended 31 December 2013.
Sun Pharmaceutical Industries will be watched. With reference to the news item appearing in the newspaper on May 14, 2014 titled "Sun Pharma moves SC against stay on Ranbaxy merger" Sun Pharmaceutical Industries clarified that the facts mentioned under the referred news article are largely true. There is no material impact of the matter on the process of completion of merger of Ranbaxy Laboratories with the company, Sun Pharma said in a statement.
Aditya Birla Nuvo said that it was carrying on Long Term Settlement (LTS) discussions with recognized Unions at Aditya Birla Insulators, Rishra Unit at West Bengal. Pending LTS and further discussions, a section of workers had gone into illegal stoppage of work affecting the entire line of manufacturing process. This act on the part of workmen has disrupted the operations of the Plant and the Unions could not bring normalcy of the work. As a result the management is forced to discontinue the operations with effect from 13 May 2014 (10:00 pm) by declaring suspension of work in the plant till further notice. Further, due to some problem which occurred in one of the Synthesis Loop Waste Heat Boilers installed in Ammonia Plant at Indo Gulf Fertiliser Unit at Jagdishpur, it has been decided to shut down the Ammonia / Urea Plant operations for carrying out necessary repairs for a period of around 7 days from 14 May 2014.
Blue Star Infotech's consolidated net profit spurted 590.16% to Rs 4.21 crore on 53% growth in total operating income at Rs 78.80 crore in Q4 March 2014 over Q4 March 2013.
Blue Star Infotech's consolidated net profit 198.59% to Rs 14.87 crore on 44% growth in total operating income at Rs 271.01 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Commenting on the company's financial results, Sunil Bhatia, MD & CEO, Blue Star Infotech said, We are glad to announce the highest ever revenue achieved by the company for the financial year 13-14. With the US IT market stabilizing, we have a stronger pipeline for FY 14-15. We continue to be optimistic about growth opportunities present in emerging technologies like SMAC. Blue Star Infotech will continue to strengthen our footprint in our focus sectors like Travel & Hospitality by enhancing and monetizing our existing IPs and creating new IP based solutions. One of the key drivers of our growth has been streamlining our customer engagement processes and we plan to further deepen our relationship with customers this year. We have been growing above the industry average and foresee the trend continuing in FY 14-15 as well.
Blue Star Infotech's board of directors at its meeting held on Wednesday, 14 May 2014, proposed a dividend of Rs 4 per share for FY 2014.
Net profit of Nilkamal rose 194.99% to Rs 14.13 crore in the quarter ended March 2014 as against Rs 4.79 crore during the previous quarter ended March 2013. Sales rose 5.17% to Rs 461.05 crore in the quarter ended March 2014 as against Rs 438.38 crore during the previous quarter ended March 2013.
Net profit of T.V. Today Network rose 149.21% to Rs 15.85 crore in the quarter ended March 2014 as against Rs 6.36 crore during the previous quarter ended March 2013. Sales rose 15.10% to Rs 96.94 crore in the quarter ended March 2014 as against Rs 84.22 crore during the previous quarter ended March 2013.
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