Colgate Palmolive (India)'s net profit rose 1.6% to Rs 112.83 crore on 14.05% growth in total income to Rs 907.35 crore in Q3 December 2013 over Q3 December 2012. Net sales jumped 16% to Rs 884 crore in Q3 December 2013 over Q3 December 2012. The growth in bottom line lagged top line growth as advertisement expenditure surged. The company's advertisement expenditure rose 21.64% to Rs 121.46 crore in Q3 December 2013 over Q3 December 2012. The operating profit margin (OPM) declined to 16.89% in Q3 December 2013, from 19.12% in Q3 December 2012. Colgate Palmolive (India) announced the results after trading hours on Tuesday, 21 January 2014.
During the quarter, the company achieved volume growth of 10% on year on year basis, led by a strong growth of 11% in toothpaste category wherein the company further enhanced its leadership position by registering a 56% volume market share for the period January-December 2013, compared to 54.5% for the period January-December 2012. Colgate Palmolive (India) said that the company further strengthened its leadership position in the toothbrush category by registering a volume market share of 41.5% for the period January-December 2013, as against 39.8% for the period January-December 2012.
HDFC, L&T, Dabur India, Biocon, Mahindra & Mahindra Financial Services, Raymond, Zee Entertainment Enterprises will announce their October-December 2013 earnings today, 22 January 2014.
Ashok Leyland reported a net loss of Rs 167.20 crore in Q3 December 2013 compared with a net profit of Rs 74.14 crore in Q3 December 2012. Total income fell 18.67% to Rs 1968.62 crore in Q3 December 2013 over Q3 December 2012.
Thermax's net profit fell 12.73% to Rs 66.64 crore on 2.13% decline in total income to Rs 1036.68 crore in Q3 December 2013 over Q3 December 2012.
Thermax improved its order intake by 6.31% to Rs 1365 crore in Q3 December 2013 as against Rs 1284 crore in Q3 December 2012.
On a consolidated basis, the order backlog of the group rose by 24% to Rs 6445 crore as on 31 December 2013 compared with Rs 5191 crore as on 31 December 2012.
Thermax said it has to suspend the operations, which are not significant, at its Mundra SEZ plant pursuant to the order of Gujarat High Court for closure of twelve units in Mundra SEZ. The company has approached Supreme Court with Special Leave Petition against the said Order.
On a consolidated basis, Tata Coffee's net profit rose 45% to Rs 37.66 crore on 6.3% decline in total income to Rs 394.54 crore in Q3 December 2013 over Q3 December 2012.
HCL Technologies turns ex-dividend today, 22 January 2014 for the second interim dividend of Rs 4 per share for the year ending 30 June 2014.
Wipro turns ex-dividend today, 22 January 2014 for the interim dividend of Rs 3 per share for the year ending 31 March 2014.
TCS announced the launch of the Digital Software & Solutions Group, a new business unit designed to help customers undergo critical digital transformations through modular, fully integrated, industry-tailored licensed software and solutions. Initial industries served will be Retail, Communications and Banking and Financial Services, three sectors with a particularly urgent need to adopt emerging technologies to enhance digital commerce and customer intelligence capabilities and rapidly shift product and service offerings to compete in highly competitive and customer-centric arenas.
"Digital transformation is impacting almost every industry, and in several cases it is imperative to address needed operational changes within the next two years to remain relevant and prosper," said N Chandrasekaran, CEO & MD, TCS. "The Digital Software & Solutions Group is a serious commitment to TCS' strategic customer partnerships through fully integrated and scalable solutions that meet their business needs and challenges, while reducing the total cost of ownership."
The Digital Software & Solutions Group's initial offerings include 'Digital Commerce' and 'Customer Intelligence & Insights.' They are modular - enabling customers to embark on the transformation journey at their own pace; scalable and fully integrated - providing a comprehensive roadmap of client needs today and tomorrow; and industry-specific - tailored to the unique needs of Retail, Communications and Banking and Financial Services companies, versus the all-too-common 'one size fits all' approach, TCS said in a statement.
"Digital Software & Solutions allows customers to select solutions and engagement models that best fit their needs, whether it's a software module that addresses a particular business pain point, a fully integrated solution that transforms a business function, or a digital transformation engagement driving results across the business," said Seeta Hariharan, General Manager & Group Head, TCS' Digital Software & Solutions. "These solutions are backed by TCS' deep domain capability and delivery expertise."
By providing fully integrated solutions, TCS reduces the total cost of ownership for customers, due to business engagement models that are flexible and structured around a customer's consumption patterns. At the same time, TCS also offers support programs to train customers to best utilize TCS' software and solutions, the company said.
GMR Infrastructure said its board will meet on 24 January 2014, to consider raising funds through foreign currency convertible bonds or any other securities.
Mahindra Holidays & Resorts India will hold a meeting of equity shareholders on 19 February 2014 for the purpose of considering a scheme of amalgamation of Bell Tower Resorts with Mahindra Holidays & Resorts India.
Finolex Cables said it won an advance purchase order of over Rs 200 crore for metal free optical fibre cable (OFC) of the national optic fibre network (NOFN) backbone project. The said project is targeted at providing connectivity to over 2.5 lakh gram panchayats across the country for better e-governance, e-health services, and educational services to the people of India.
Sunstar Realty Development (Sunstar) said it won arbitration worth Rs 2.50 crore through an arbitration award pronounced by Nilay Sengupta Advocate, High Court.
Sunstar, an upcoming real estate and infra company is primarily engaged in business of executing contracts in the segment of construction and infrastructure, had won a contract from Somiz Food Products (formerly known as Intimate Infra Projects) (SFPPL) to construct a commercial godown for a total amount of Rs 10 crore and received an advance of Rs 2.50 crore. During the process, SFPPL failed to pay further installments to Sunstar. Accordingly Sunstar forfeited earnest money of Rs 2.50 crore and learned arbitrator pronounced its decision in favor of Sunstar providing legal and rightful claim of Sunstar of Rs 2.50 crore, Sunstar said in a statement.
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