Jet Airways (India) reported a net loss of Rs 2153.57 crore in Q4 March 2014, higher than net loss of Rs 495.53 crore in Q4 March 2013. Total income rose 9.59% to Rs 4678.17 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Tuesday, 27 May 2014.
Jet Airways (India) reported a net loss of Rs 3667.85 crore in the year ended 31 March 2014 (FY 2014), higher than net loss of Rs 485.50 crore in the year ended 31 March 2013 (FY 2013). Total income rose 1.78% to Rs 17713.47 crore in FY 2014 over FY 2013.
On consolidated basis, Jet Airways (India) reported a net loss of Rs 4129.76 crore in FY 2014, higher than net loss of Rs 779.78 crore in FY 2013. Total income rose 0.18% at Rs 19445.30 crore in FY 2014 over FY 2013.
Jet Airways (India)'s board of directors at its meeting held on Tuesday, 27 May 2014, approved the appointment of Mr. Cramer Ball as the Chief Executive Officer (CEO) of the company, subject to all requisite government/regulatory approvals including his security clearance being obtained.
Mr. Gaurang Shetty, Director and Manager will continue to lead the company till the requisite approvals are obtained and Mr. Ball assumes charge as the CEO of the company, Jet Airways (India) said.
Two-wheeler maker Hero MotoCorp will be in focus as the company announces its Q4 March 2014 results today, 28 May 2014.
In response to the news articles which appeared on 25 May 2014 regarding Andhra Pradesh High Court vacating the stay on the Sun Pharma-Ranbaxy merger, Sun Pharmaceutical Industries after market hours on Tuesday, 27 May 2014, said that there was no material impact of the earlier court order on the process of completion of merger of Ranbaxy Laboratories with the company and therefore the vacation of the said order will also not have any material impact on the process of completion of merger of Ranbaxy Laboratories with Sun Pharma.
JSW Steel after market hours on Tuesday, 27 May 2014 reported 63.16% rise in consolidated net profit to Rs 482.83 crore on 44.86% rise in total income to Rs 14343.53 crore in the Q4 March 2014 over Q4 March 2013.
United Breweries reported 1057.43% surge in net profit to Rs 67.71 crore on 6.64% rise in total income to Rs 1091.64 crore in the Q4 March 2014 over Q4 March 2013.
United Breweries said that in order to augment brewing capacities in the State of Rajasthan, the Board of Directors of the company at its meeting held on 27 May 2014 have approved a proposal to acquire the brewery assets viz., land, building, plant / equipment of Pacific Spirits, having its brewery located at Shahjahanpur, District Alwar, Rajasthan at a negotiated consideration of Rs 105 crore. The acquisition is subject to due diligence and securing necessary approvals.
The parties are in the process of completing various formalities for issue of statutory licenses / permissions in the name of United Breweries and upon receipt of necessary approvals and completion of due diligence, requisite documents for sale of brewery assets shall be registered.
Jaiprakash Associates reported 18.68% fall in net profit to Rs 100.42 crore on 11.21% fall in total income to Rs 3493.07 crore in the Q4 March 2014 over Q4 March 2013.
Tech Mahindra said after market hours on Tuesday, 27 May 2014 that it has been selected by Premium Credit, the No. 1 insurance premium finance company in the UK and Ireland to deliver front and back office application services.
Tech Mahindra will provide operational support and maintenance services, as well as development and implementation. It was selected because of its domain expertise in the insurance and financial services and a strong local footprint, the company said in a statement.
Vikram Nair, Head - Europe (Enterprise), Tech Mahindra said, We are bringing both development and support capabilities to bear on a complex environment. High volumes of transactions and mission critical, customized legacy systems typify financial technology in lending institutions. These must be effectively integrated with both a consumer front end and business management tools. It's an environment to which we are excited to bring specialist professional expertise to bear. We are working together to develop Premium Credit's financial infrastructure as a connected, flexible business platform that will continue to support the business's growth.
Gopi Chelliah, Chief Operating Officer at Premium Credit said, Our partnership with Tech Mahindra is integral to the delivery of all aspects of our strategy. Our partnership gives us access to deep systems knowledge, professional resources and decades of financial systems expertise, enabling us to innovate with confidence.
Thermax's net profit fell 7.82% to Rs 106 crore on 5.79% decline in revenue to Rs 1383 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Tuesday, 27 May 2014.
Thermax's net profit fell 28% to Rs 253 crore on 8% decline in operating revenue to Rs 4302 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
Export income including deemed exports during FY 2014 stood at Rs 1101 crore, which accounted for 26% of revenue, the company said in a statement.
Thermax's consolidated net profit fell 23.12% to Rs 246 crore on 7.13% decline in revenue to Rs 5100 crore in FY 2014 over FY 2013.
In a subdued economic environment where investments continue to be stalled, Thermax improved its order booking by 11% to Rs 5394 crore in FY 2014 over FY 2013.
The order backlog on a consolidated basis, as on 31 March 2014 was at Rs 6121 crore, a 25% improvement from last year's Rs 4878 crore.
Net profit of Bombay Dyeing & Manufacturing Company rose 31.34% to Rs 207.25 crore in the quarter ended March 2014 as against Rs 157.80 crore during the previous quarter ended March 2013. Sales rose 33.27% to Rs 1126.25 crore in the quarter ended March 2014 as against Rs 845.10 crore during the previous quarter ended March 2013.
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