Hindustan Unilever's (HUL) net profit rose 13.24% to Rs 913.80 crore on 9.04% rise in total income to Rs 7043.63 crore in Q2 September 2013 over Q2 September 2012. HUL announced Q2 results on Saturday, 26 October 2013
Harish Manwani, Chairman commented: We have delivered another quarter of competitive and profitable growth. The consistency and resilience of our performance, in what has been a challenging market environment for some quarters now, is a reflection of the discipline with which we are managing our business and executing our strategy. We continue to strengthen our business for the long term by driving innovation, investing behind our brands and further building organizational capabilities.
Index heavyweight and cigarette major ITC's net profit jumped 21.46% to Rs 2230.53 crore on 9.42% growth in total income to Rs 8108.72 crore in Q2 September 2013 over Q2 September 2012. The company declared Q2 result at fag end of the day's trading session on Friday, 25 October 2013.
Maruti Suzuki India, Dabur India, Bharti Infratel, Ceat, EID Parry (India), Fertilisers & Chemicals Travancore, Tata Elxsi and Tata Investment Corporation, among others, will declare their July-September 2013 quarter results today, 28 October 2013.
Colgate-Palmolive (India)'s net profit declined 24.51% to Rs 109.52 crore on 16% growth in net sales to Rs 895.70 crore in Q2 September 2013 over Q2 September 2012. The Q2 result was announced after market hours on Friday, 25 October 2013.
During the quarter, the company achieved a volume growth of 10% over the corresponding previous quarter led by a strong growth of 9% in toothpaste category wherein the company further enhanced its leadership position by registering a 56% volume market share for January 2013-September 2013 compared to 54.6% in January 2012-September 2012. The flagship brands Colgate Dental Cream, Active Salt, Max Fresh and Colgate Total along with the recently launched Visible White have contributed to this consistent growth, Colgate-Palmolive said in a statement.
The company further strengthened its leadership position in the Toothbrush category by registering a volume market share of 41.4% for January 2013-September 2013 as against 39.3% in January 2012-September 2012.
Despite the inflationary environment and pressure on the rupee, the company's focus on driving efficiencies and reducing costs coupled with prudent price increases has resulted in higher gross margin and help to fund investments in building and strengthening brand equity and business, Colgate-Palmolive said in a statement.
Colgate-Palmolive (India)'s board of directors at a meeting held on Friday, 25 October 2013, declared a first interim dividend of Rs 9 per share for the year ending 31 March 2014.
Essar Oil reported net loss of Rs 71 crore in Q2 September 2013 as against net profit of Rs 105 crore in Q2 September 2012. Gross revenue rose 19% to Rs 27392 crore in Q2 September 2013 over Q2 September 2012. The Q2 result was announced after market hours on Friday, 25 October 2013.
Essar Oil said that the gross revenue in Q2 September 2013 is its all-time high. During the quarter, Vadinar Refinery processed 5.18 MMT of crude, up 2% over Q2 September 2012, indicating a capacity utilization of 104%. It is its highest-ever throughput, the company said.
During Q2 September 2013, Essar Oil reported Current Price Gross Refining Margin of $6.93 per barrel, compared to $7.86 per barrel in Q2 September 2012, mainly due to sharp reduction in benchmark IEA margins by $3.76/bbl during the quarter (IEA margins for Sep 2013 quarter was negative $1.30/bbl against positive $2.46/bbl). Negative diesel demand growth in domestic market on the back of heavy, timely, and extended monsoon this year led to substantial increase in diesel exports, further impacting margins adversely, Essar Oil said.
The EBITDA (earnings before interest, taxation, depreciation and amortization) declined 11.63% to Rs 1033 crore in Q2 September 2013 over Q2 September 2012. EBITDA was impacted due to lower gross refining margin (GRM).
Mr LK Gupta, MD & CEO, Essar Oil said, We continue to operate our refinery in a highly optimized manner and this is the fifth consecutive quarter post expansion that the refinery is operating at over its nameplate capacity. Despite a sharp reduction in benchmark margins by about $3.8/bbl, our GRMs have been only marginally impacted. Our GRM premium over the IEA benchmark expanded to $8.23/bbl during the quarter, against $5.4/bbl in Q2 September 2012. With clarity emerging on deregulation of diesel, we are now looking at expanding our retail network, which going forward will be a big value booster for the company".
Mr Suresh Jain, CFO, Essar Oil said, We have maintained strong operating performance with record throughput and revenue. EBITDA has been impacted due to lower refinery margins. Benefits of debt dollarization, along with rationalisation of other financial charges like hedging and working capital has begun reflecting in our lower interest and financial charges.
Neyveli Lignite Corporation (NLC)'s net profit declined 28.32% to Rs 240 crore on 1.68% growth in total income to Rs 1516 crore in Q2 September 2013 over Q2 September 2012. The Q2 result was announced on Saturday, 26 October 2013.
JSW Energy's consolidated net profit fell 35.82% to Rs 163 crore on 2.5% decline in total income from operations to Rs 2025 crore in Q2 September 2013 over Q2 September 2012. The Q2 result was announced on Saturday, 26 October 2013.
The consolidated profit after tax (PAT) of Rs 163 crore in Q2 September 2013 was after taking into account a foreign exchange (forex) loss of Rs 168 crore which has been considered as an exceptional item during the quarter due to continued and steep depreciation of the rupee against the dollar in Q2 September 2013.
EBITDA (earnings before interest, taxation, depreciation and amortization) surged 43% to Rs 893 crore in Q2 September 2013 over Q2 September 2012, primarily due to improved realisation and reduced fuel cost.
JSW Energy achieved an average plant load factor (PLF) of 69.38% in Q2 September 2013 and a net generation of 4,352 million units during the quarter on an installed capacity of 3,140 megawatts (MW). PLF during the quarter was significantly lower primarily due to frequent back down by the load dispatch centre mainly due to heavy monsoon, slackness in power procurement by utilities and annual overhauling & maintenance shutdowns of units, the company said in a statement.
The merchant sales in Q2 September 2013 were 1,507 million units, the sales under long term PPA were 2,268 million units and the balance units were banked during the quarter, JSW Energy said.
JSW Energy's total net worth and net debt as on 30 September 2013 were Rs 6598 crore and Rs 10335 crore respectively resulting in a debt equity ratio of 1.57.
On project updates, JSW Energy said that all the requisite environmental approvals for the 240 MW power project at Kutehr, Himachal Pradesh (HP), have been received. The land acquisition process for the project is progressing satisfactorily and the tendering process for the project construction has been initiated. The cost incurred till 30 September 2013 was Rs 231 crore, the company said in a statement.
The possession of land for Jalipa mines and transfer to lessee is awaited, JSW Energy said. The project cost is estimated at Rs 1800 crore (comprising both Kapurdi & Jalipa mines) and cost incurred till 30 September 2013 was Rs 1457 crore, the company said in a statement.
With regard to future business outlook, JSW Energy said that with sharp depreciation of rupee in the current fiscal and imported coal prices beginning to firm up sharply, the fuel costs are expected to go up. In the event weak demand for power persists with an anticipated increase in fuel costs, margins are expected to be under pressure, JSW Energy said in a statement.
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