Hindustan Unilever (HUL) reported a 16% growth in comparable net profit at Rs 1276 crore in Q2 September 2017 over Q2 September 2016. Net sales rose 6.5% to Rs 8199 crore in Q2 September 2017 over Q2 September 2016. Profit after tax before exceptional items grew by 14% to Rs 1236 crore in Q2 September 2017 over Q2 September 2016. Earnings before interest, tax, depreciation and amortization (EBITDA) rose 20% to Rs 1682 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 25 October 2017.
While transition to GST impacted trade purchases in early part of the quarter, consumer offtake remained stable, HUL said. Trade conditions continue to improve and the wholesale channel is steadily normalizing, it added.
HUL's board of directors declared interim dividend of Rs 8 per share for the year ending 31 March 2018 (FY 2018).
Harish Manwani, Chairman of HUL, said that the company was able to swiftly implement GST and pass on the net benefit through price reductions to consumers across the country.
Wipro said that it has completed the acquisition of Cooper Software, Inc, a design and business strategy consultancy headquartered in San Francisco. The impact of Cooper acquisition is expected to reflect in the financials of the company for the quarter ending 31 December 2017. The announcement was made after market hours yesterday, 25 October 2017.
Yes Bank will announce Q2 September 2017 result today, 26 October 2017.
RBL Bank's net profit rose 67.56% to Rs 150.62 crore on 24.39% growth in total income to Rs 1332.36 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 25 October 2017. The bank's gross non-performing assets (NPAs) stood at Rs 487.24 crore as on 30 September 2017 as against Rs 457.81 crore as on 30 June 2017 and Rs 274.65 crore as on 30 September 2016.
The ratio of gross NPAs to gross advances stood at 1.44% as on 30 September 2017 as against 1.46% as on 30 June 2017 and 1.1% as on 30 September 2016. The ratio of net NPAs to net advances stood at 0.78% as on 30 September 2017 as against 0.81% as on 30 June 2017 and 0.55% as on 30 September 2016. The bank's provisions and contingencies rose 51.04% to Rs 74.89 crore in Q2 September 2017 over Q2 September 2016.
State Bank of India (SBI) clarified after market hours yesterday, 25 October 2017, that it has yet to take a decision on sale of any non-core assets. Media reports earlier suggested that SBI is looking to sell non-core assets. SBI clarified that it is in the process of empanelment of merchant bankers who would be approached as and when bank takes a decision on partial divestment in some of the non-core assets. Whenever a decision is taken to divest, the bank will inform the exchange, as required.
Net profit of Exide Industries declined 25.46% to Rs 135.52 crore on 23.17% rise in net sales to Rs 2371.32 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 25 October 2017.
Sarda Energy & Minerals said it shut down one of its three power generating units for replacement of old turbine machine by a new energy efficient turbine machine supplied by Bhel. The new turbine machine will help in generating more power from the existing quantum of steam. The unit is expected to come into operation before the end of the current financial year. The company has already replaced one of its old turbine with a new turbine, which came into operation in April 2017. The announcement was made after market hours yesterday, 25 October 2017.
GVK Power & Infrastructure said that its subsidiary, Mumbai International Airport (MIAL), received a Letter of Award from City & Industrial Development Corporation (CIDCO), the nodal agency of the Government of Maharashtra for the Navi Mumbai International Airport project. The announcement was made after market hours yesterday, 25 October 2017.
Polaris Consulting & Services said that its board will meet on 31 October 2017 to consider proposal of voluntary delisting of the equity shares of the company. The announcement was made before market hours today, 26 October 2017.
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