Hindustan Unilever's net profit rose 9.28% to Rs 1283 crore on 4.76% growth in total income to Rs 9335 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 18 July 2017.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 14%. Profit after tax before exceptional items, PAT (bei), rose 15% to Rs 1292 crore. Under volatile market conditions, the company's domestic consumer business grew at 6% and underlying volume growth remained flat. During the quarter, trade sentiment remained cautious, particularly in the run up to GST implementation. Despite high promotional intensity, stock pipelines remained low and varied across categories, channels and geographies. In these challenging circumstances the company managed to deliver yet another quarter of resilient and profitable growth.
Harish Manwani, Chairman commented that both growth and margin improvement were delivered through a combination of sustained innovations, a comprehensive savings program and a relentless focus on execution in the market place. The company remains positive on the medium term outlook for the industry and will continue to drive consumer value, which also delivers profitable volume driven growth for the company.
Power Grid Corporation of India said that POWERGRID Kala Amb Transmission, wholly owned subsidiary of the company secured though Tariff Based Competitive Bidding (TBCB), has declared commissioning of its project on 12 July 2017. The announcement was made after market hours yesterday, 18 July 2017.
Ashok Leyland has formed a strategic alliance with SUN Mobility to develop electric mobility solutions. The announcement was made after market hours yesterday, 18 July 2017.
CRISIL's consolidated net profit rose 9.33% to Rs 67.25 crore on 7.26% growth in total income to Rs 415.79 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 18 July 2017.
MOIL said that in terms of Cabinet Committee of Economic Affairs (CCEA) decision dated 16 January 2015, it has been decided by Government of India to offer upto 6.65 lakh equity shares of face value of Rs 10 each of MOIL to the eligible employees of MOIL at a discounted price of Rs. 346.75 (this price is at 5% discount to the cut off price of Rs 365 discovered in the offer for sale of shares of MOIL carried out by Government of India on 24 & 25 January 2017). The minimum and maximum number of equity shares which can be applied for by eligible employees is 10 and 576 equity shares, respectively. The announcement was made after market hours yesterday, 18 July 2017.
KDDL announced that the company's subsidiary - Ethos has launched a new store (EMSW) with effect from 25 June 2017 at Navi Mumbai, Mumbai. The total number of stores as on date is 36 only. The announcement was made after market hours yesterday, 18 July 2017.
Bhansali Engineering Polymers announced that a production capacity expansion programme is proposed to be undertaken by the company at its ABU Road Plant at Sirohi, Rajasthan to enhance its ABS production capacity from the existing 80 kilotons per annum (KTPA) to 137 KTPA by 31 December, 2018 with the estimated capex of Rs 300 crore to be funded through internal accruals only. The announcement was made after market hours yesterday, 18 July 2017.
Glenmark Pharmaceuticals, announced that it has entered into a development, license, manufacture and commercial supply agreement with Cyndea Pharma S.L., granting exclusive rights to use their technology for developing generic, soft-gelatin capsule formulations of certain pharmaceutical products.
Under this agreement, Glenmark receives exclusive rights to the United States and Canada markets for these soft-gelatin formulations in exchange for sharing development costs and profits from future sales. In addition, the agreement provides for the companies to add furthersoft-gelatin product candidates for development and commercialization, as new branded, softgelatin, capsule-based drug products become available in the marketplace. The announcement was made before market hours today, 19 July 2017.
Can Fin Homes announced that at the meeting of the board of directors of the company scheduled to be held on 21 July 2017 a proposal is being placed for approval and authorisations for raising secured non-convertible debentures to the extent of Rs 6000 crore on private placement basis. The announcement was made after market hours yesterday, 18 July 2017.
Majesco said that Majesco, USA, (Majesco) the insurance arm and a subsidiary of Majesco announced about the selection of the Majesco CloudInsurer platform by a leading provider of financial protection benefits globally, to transform their collections operation across multiple geographies. In the first phase, they will implement Majesco CloudInsurer to modernize their collection operations in one country to be followed by other Latin America countries and additional territories in the Middle East and Asia. The announcement was made after market hours yesterday, 18 July 2017.
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