Infosys, HDFC Bank, Hindustan Unilever, Idea Cellular and Asian Paints will declare their April-June 2015 quarterly results today, 21 July 2015.
Bharti Airtel before market hours today, 21 July 2015 said that Bharti Airtel International (Netherlands) BV (Airtel) and Orange have entered into an exclusive agreement concerning four Airtel subsidiaries in Africa. Orange and Airtel have entered into an exclusive agreements to explore the possible acquisition by Orange of Airtel's subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone, a statement from Airtel and Orange said. There is no certainty of any binding agreement as a result of these discussions, the statement said.
Orange is one of the world's leading telecommunications operators with sales of 39 billion euros in 2014 and 1.55 lakh employees worldwide at 31 March 2015.
Sun Pharmaceutical Industries after market hours yesterday, 20 July 2015 said that following the acquisition of Ranbaxy, the company has embarked on various consolidation initiatives globally to drive future growth and profitability and to enhance long-term shareholder value. However, these measures are likely to adversely impact the overall revenues and profits of the company for FY16, Sun Pharmaceutical Industries said. Consolidated revenue is expected to remain flat or show a decline over FY15, the company said. Consolidated profit may also be adversely impacted due to certain expenses/charges arising out of integration as well as remedial actions. These initiatives will help the company revert to a more sustainable growth trajectory post FY16, Sun Pharmaceutical Industries said.
Cipla said before market hours today, 21 July 2015 that the company's board of directors at its meeting held yesterday, 20 July 2015, approved a potential investment by FIL Capital Investments (Mauritius) II, or any of its affiliate in a wholly owned subsidiary of Cipla (proposed to be incorporated) to whom Cipla will be divesting its consumer healthcare business on a going-concern basis. The approval is subject to execution of binding agreements, and the transaction will be subject to relevant regulatory approvals, Cipla said. None of the persons belonging to Promoter/Promoter Group(s) of the company has any interest in the transaction, it added.
Hindustan Zinc's net profit rose 18.73% to Rs 1920.80 crore on 12.6% rise in total income to Rs 4193.89 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 20 July 2015.
Revenues rose 21% to Rs 3596 crore in Q1 June 2015 over Q1 June 2014. The increase was driven by higher zinc volumes & LME prices and rupee depreciation. This was partly offset by lower prices & volumes of silver and lead as also lower zinc premium. Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 24% to Rs 1672 crore in Q1 June 2015 over Q1 June 2014, due to higher revenues and lower cost of production, partly offset by one-time expense related to renewable energy purchase obligation for earlier years, higher royalty and District Mineral Foundation (DMF) provisioning. The exact quantum of DMF contribution is yet to be notified by the Government.
Higher net profit was driven by higher operating profit, partly offset by lower investment income due to mark to market losses on a small portion of the portfolio, which is expected to get recovered in the coming quarters. The investment corpus increased by 19% from a year ago. Tax provision for the quarter was lower due to one-time recognition of deferred tax asset of Rs 160 crore on brought forward short-term capital loss.
Mined metal production increased by 42% at 2.32 lakh metric tonne (MT) in Q1 June 2015 over Q1 June 2014. The increase was driven primarily by higher ore production from Rampura Agucha, Kayad and Sindesar Khurd mines. Mined metal production was lower by 14% sequentially, in-line with the mine plan. Integrated saleable zinc, lead and silver metal production during the quarter increased by 35%, 27% and 33% respectively compared to a year ago, though the growth was slightly lower than that of mined metal production and will be made up in the next quarter. Integrated metal production of zinc and lead was lower by 14% and 17% respectively from Q4 March 2015 on account of planned shutdowns.
In the year ended 31 March 2016 (FY 2016), mined metal production is expected to be higher from the year ended 31 March 2015 (FY 2015), while integrated refined metal production, including silver, will be significantly higher, as per earlier guidance.
LIC Housing Finance's net profit rose 18.56% to Rs 382.13 crore on 16.58% rise in total income to Rs 2965.45 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 20 July 2015.
The Reserve Bank of India yesterday, 20 July 2015 advised that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of Oberoi Realty under the Portfolio Investment Scheme (PIS).
Tata Teleservices (Maharashtra) will be in focus. With reference to the news article captioned "Tata offers to buy out Docomo at Rs 23.30 a share", Tata Teleservices (Maharashtra) has clarified after market hours yesterday, 20 July 2015, that the news item pertains to equity shares of Tata Teleservices held by NTT Docomo and not of Tata Teleservices (Maharashtra).
Sasken Communication Technologies' consolidated net profit rose 236.7% to Rs 9.85 crore on 4.7% rise in revenues to Rs 109.28 crore in Q1 June 2015 over Q4 March 2015. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) jumped 137.7% to Rs 10.28 crore in Q1 June 2015 over Q4 March 2015. The result was announced after market hours yesterday, 20 July 2015.
Kitex Garments' net profit rose 10.63% to Rs 15.97 crore on 6.14% rise in total income from operations to Rs 109.08 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 20 July 2015.
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