On a consolidated basis, Tata Steel net profit surged 90.51% to Rs 1139.01 crore on 3.29% fall in total income to Rs 32988.42 crore in Q1 June 2013 over Q1 June 2012. The result was announced after market hours on Tuesday, 13 August 2013.
This improvement was on the back of robust performance by the Indian operations and improved performance at the European operations, Tata Steel said.
Tata Steel Managing Director Mr HM Nerurkar said: The Indian operations delivered a steady performance in a subdued market environment with deliveries growing at an enhanced pace over the comparable period of last year. Our retail focus, customer relationship and brand building efforts are supporting growth despite increased competition in the market place and we are intensifying our focus on efficiency improvements and delivering enhanced value to our customers. Work on the greenfield project in Odisha continues in full swing. The South East Asian operations are robust and we continue to invest in improving the underlying performance.
Tata Steel Europe MD & CEO Dr Karl-Ulrich Kler said: Our European facilities recorded higher production volumes after we completed some major plant refurbishment last year, which gave us a more stable production platform and greater operational flexibility. As a result we are better placed to supply our customers with the high-quality steel they demand. We see signs that our strategy is enhancing bottom-line performance, despite continued subdued European demand. There have recently been encouraging signs of improving economic conditions in some European economies, the UK in particular, and we are poised to capitalise should these translate more strongly into increased demand from steel-intensive sectors.
On a consolidated basis, Oracle Financial Services Software's net profit surged 30% to Rs 366 crore on 2% increase in revenues to Rs 899 crore in Q1 June 2013 over Q4 March 2013. Operating income rose 2% to Rs 320 crore in Q1 June 2013 over Q4 March 2013.
BPCL reported net profit of Rs 150.32 crore in Q1 June 2013, compared with net loss of Rs 8836.75 crore in Q1 June 2012. Total income rose 7.67% to Rs 59074.74 crore in Q1 June 2013 over Q1 June 2012. The company announced Q1 result after market hours on Tuesday, 13 August 2013.
BPCL said market sales rose 1.05% to 8.59 MMT in Q1 June 2013 over Q1 June 2012.
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BPCL's average Gross Refining Margin (GRM) surged to $4.05 per barrel in Q1 June 2013, from $2.62 a barrel in Q1 June 2012.
During the quarter ended June 2013, BPCL received discount of Rs 3666.36 crore in respect of crude oil/products purchased from upstream oil companies. The discount was higher than Rs 3662.61 crore in Q1 June 2012.
Based on the approval received from the Government of India, the company has accounted for Budgetary Support amounting to Rs 1916.57 crore for Q1 June 2013 as against Nil in Q1 June 2012 towards under-recoveries on sale of sensitive petroleum products.
The company suffered a net under-realisation of Rs 544.95 crore in Q1 June 2013, lower than Rs 7964.18 crore in Q1 June 2012, on sale of sensitive petroleum products.
BPCL reported forex loss of Rs 944.48 crore in Q1 June 2013, which was much lower than forex loss of Rs 1611.34 crore in Q1 June 2012.
Bajaj Auto said after market hours on Tuesday, 13 August 2013 that the company has received, a notice from the workmen's union, Vishwa Kalyan Kamgar Sanghatana stating that the work stoppage has been withdrawn and all the workmen at Chakan Plant will resume their duty in their respective shifts from 14 August 2013.
The company had earlier informed on 25 June 2013, that it had received a notice from the workmen's union of its Chakan plant viz., Vishwa Kalyan Kamgar Sanghatana stating that they propose to call for a stoppage of work by all the workmen employed in Chakan plant from the morning shift of 28 June 2013. The workmen at Chakan Plant had however, stopped coming from 25 June 2013 itself, without assigning any reason, it had added.
On a consolidated basis, Pidilite Industries' net profit jumped 25.8% to Rs 160.99 crore on 12.1% increase in net sales to Rs 1118.81 crore in Q1 June 2013 over Q1 June 2012.
In a separate announcement, Pidilite Industries said that its board approved acquisition of the adhesive business of Suparshva Adhesives. The slump sale agreement includes brands, know-how and other assets pertaining to the adhesive business. The gross turnover for the year ended 31 March 2013 of the business being acquired is less than 1% of the company's turnover, Pidilite said.
On a consolidated basis, Max India's profit before tax (PBT) slumped 95% to Rs 42 crore on 17% decline in total revenues to Rs 2333 crore in Q1 June 2013 over Q1 June 2012. Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) tumbled 90% to Rs 97 crore in Q1 June 2013 over Q1 June 2012. Results in Q1 June 2012 included one off income from PMCC deal.
HPCL turns ex-dividend today, 14 August 2013, for dividend of Rs 8.50 per share for the year ended 31 March 2013 (FY 2013).
Reliance Capital turns ex-dividend today, 14 August 2013, for dividend of Rs 8 per share for the year ended 31 March 2013 (FY 2013).
Reliance Communications turns ex-dividend today, 14 August 2013, for dividend of Rs 0.25 per share for the year ended 31 March 2013 (FY 2013).
Reliance Infrastructure turns ex-dividend today, 14 August 2013, for dividend of Rs 7.40 per share for the year ended 31 March 2013 (FY 2013).
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