On a consolidated basis, Bharti Airtel's net profit rose 170.2% to Rs 1383 crore on 7.1% increase in total revenue to Rs 22845 crore in Q2 September 2014 over Q2 September 2013. The results are as per International Financial Reporting Standards (IFRS). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12.1% to Rs 7705 crore in Q2 September 2014 over Q2 September 2013. Mobile data revenues grew 66.7% to Rs 2540 crore in Q2 September 2014 over Q2 September 2013, contributing more than two-third of the incremental revenues. The result was announced after market hours yesterday, 30 October 2014.
On a consolidated basis, Glenmark Pharmaceuticals' net profit rose 7% to Rs 165.07 crore on 14.85% increase in total revenue to Rs 1680.70 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 30 October 2014.
Ambuja Cements' net profit jumped 44% to Rs 239 crore on 9.2% growth in net sales to Rs 2188 crore in Q3 September 2014 over Q3 September 2013. The company attributed increase in net sales to improved sales realization. Earnings before interest, taxation, depreciation and amortization jumped 46.1% to Rs 393 crore in Q3 September 2014 over Q3 September 2013. The result was announced after trading hours yesterday, 30 October 2014.
Ambuja Cements said that cement demand is likely to be better with expectation of higher GDP growth and improved business sentiments. The drivers for demand will continue to be housing and infrastructure, considering the government's recent push in this sector. Ambuja Cements said that the company will continue to work on improving efficiencies and focus on customer and commercial excellence. Ambuja Cements said that the company believes that these initiatives will help improve its performance.
Titan Company's net profit rose 28.6% to Rs 239.98 crore on 55.7% increase in income from operations to Rs 3564.67 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 30 October 2014.
Procter & Gamble Hygiene and Health Care's net profit rose 12.24% to Rs 61.50 crore on 16.12% growth in total income to Rs 597.53 crore in Q1 September 2014 over Q1 September 2013. The result was announced before market hours today, 31 October 2014.
NHPC's net profit fell 3.32% to Rs 684.10 crore on 19.22% increase in total income to Rs 2325.01 crore in Q2 September 2014 over Q2 September 2013. In view of the seasonal nature of business, the financial results of the current quarter may not be comparable with other quarters of the current financial year, NHPC said in a statement.
Among prominent earnings, Excel Industries, Suzlon Energy, and Union Bank of India will announce their July-September 2014 earnings today, 31 October 2014.
On a consolidated basis, IDFC's net profit fell 13.43% to Rs 421.40 crore on 15.75% increase in total income to Rs 2,487.46 crore in Q2 September 2014 over Q2 September 2013.
The board of IDFC at its meeting held on Thursday, 30 October 2014, approved a proposal to demerge its financing undertaking into its wholly-owned step-down subsidiary, IDFC Bank. IDFC Bank is a recently incorporated company by IDFC with a paid up capital of Rs 5 lakh and is currently not a listed company. Post demerger, the shares of IDFC Bank will be listed on the BSE and the NSE.
IDFC Bank will issue 1 equity share of Rs 10 each, fully paid up of IDFC Bank for every 1 equity share of Rs 10 each held in IDFC as a consideration for the demerger of financing undertaking of IDFC into IDFC Bank, to the shareholders holding shares of IDFC as on the record date.
The shareholders of IDFC will continue to hold their shares in IDFC. On completion of demerger, equity share capital of IDFC Bank will be held approximately 53% by IDFC Financial Holding Company (lDFC FHCL) (being incorporated), a 100% subsidiary of IDFC and approximately 47% by the shareholders of IDFC (as on the record date).
Dabur India announced after market hours yesterday, 30 October 2014, that a fire broke out at the company's skin care products factory at Baddi, Himachal Pradesh, damaging fixed assets and inventory worth Rs 23 crore. The unit is fully insured and the claim process has been initiated. There is no significant impact to the company's business because of this incident as only the skin care unit was hit by the fire and steps have been initiated to manufacture skin care products at alternative locations, Dabur India said.
Thermax after market hours yesterday, 30 October 2014, said it has bagged an order worth Rs 321 crore to build and commission a captive power plant in Africa. The scope of work includes system design, manufacture, supply and supervision of erection and commissioning of the plant. The power plant is to be commissioned within a time frame of 15-16 months.
IFCI after market hours yesterday, 30 October 2014 said that its public issue of secured, redeemable, non-convertible debentures opened on 20 October 2014 has been fully subscribed. As against the basic issue size of Rs 250 crore, bids have been received for more than Rs 270 crore by 30 October 2014. Catergory II (corporates) has been oversubscribed 2.5 times. There is an option to retain oversubscription upto the shelf limit of Rs 2000 crore and the issue is proposed to be opened till 21 November 2014, with an option for early closure or extension, IFCI said. So far, maximum bids have been received for 10 years' tenure with annual interest option, carrying interest at the rate of 9.9% per annum for institutional investors and 10% for individuals, it added. Allotments are on first come first serve basis subject to the allocation ratio for various categories of investors, IFCI said.
Shriram City Union Finance's net profit rose 8.34% to Rs 137.81 crore on 8.79% growth in total income to Rs 868.87 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 30 October 2014.
TRF reported a consolidated net loss of Rs 9.27 crore in Q2 September 2014, lower than net loss of Rs 28.01 crore in Q2 September 2013. Total income from operations declined 5.21% to Rs 246.45 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 30 October 2014.
Manappuram Finance's net profit rose 9.63% to Rs 76.42 crore on 7.70% decline in total income to Rs 504.58 crore in Q2 September 2014 over Q2 September 2013.
Manappuram Finance announced that has signed a non-binding term sheet to acquire majority equity shareholding of Asirvad Microfinance (AMPL) through a combination of secondary purchase of equity shares from certain existing shareholders and primary investment by way of subscription to equity shares in AMPL. Progress and closure of the transaction, as is customary in transactions of this nature, is contingent upon satisfactory completion of business, financial and legal due diligence on AMPL; signing of definitive agreements among the transacting parties; receipt of statutory and regulatory approvals, as may be required, including from the Reserve Bank of India; and fulfillment of conditions precedent as may agreed upon. Head quartered in Chennai, AMPL, promoted by Mr. S V Raja Vaidyanathan, is a RBI registered NBFC-MFI, with operation in Tamil Nadu, Kerala, Odhisa and Gujarat.
On a consolidated basis, CEAT's net profit rose 7.58% to Rs 82.35 crore on 7.95% increase in total income to Rs 1444.80 crore in Q2 September 2014 over Q2 September 2013.
In a separate announcement, CEAT said that its board has approved an investment of Rs 50 crore for implementing a project for manufacture of specialty tyres (which includes off-the-road tyres) through a subsidiary company. The board also approved an investment of Rs 420 crore for setting up a plant to manufacture 2-3 wheeler tyres with a capacity of 120 MT/day.
Hindustan Construction Company (HCC)'s net profit fell 78.61% to Rs 6.76 crore on 4.24% decline in total income to Rs 962.71 crore in Q2 September 2014 over Q2 September 2013.
JK Lakshmi Cement's net profit surged 197.18% to Rs 30.61 crore on 25.43% increase in total income to Rs 573.77 crore in Q2 September 2014 over Q2 September 2013.
Godfrey Phillips India said that its board will consider fixing the record date for 5-for-1 stock split on 9 November 2014.
Shriram EPC said its board will meet on 4 November 2014 to consider allotment of 3.20 crore equity shares of Rs 10 each at a premium of Rs 40 per share on preferential basis to the promoter company, Shriram Industrial Holdings. The board will also consider Form no. PAS 4 private placement offer letter for the preferential issue of 1 crore equity shares of Rs 10 each at a premium of Rs 40 per share on preferential basis to the promoter company, Shriram Industrial Holdings.
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