L&T after market hours yesterday, 25 May 2016 reported 18.55% rise in consolidated net profit to Rs 2453.64 crore on 17.88% rise in total income to Rs 33375.26 crore in Q4 March 2016 over Q4 March 2015.
The order inflow during Q4 March 2016 was Rs 43334 crore of which one third constituted international orders, L&T said. The order intake of L&T's infrastructure division rose just 3% at Rs 29103 crore in Q4 March 2016 over Q4 March 2015. The order intake of its hydrocarbon divsion rose sharply to Rs 4963 crore in Q4 March 2016 from Rs 699 crore in Q4 March 2015.
L&T's order book stood at Rs 249949 crore as at 31 March 2016, higher by 7% on year-on-year basis. International order book constituted 28% of the total order book.
The company's consolidated net profit rose 6.83% to to Rs 5090.53 crore on 11.53% rise in total income to Rs 103814.72 crore in the year ended 31 March 2016 over the year ended 31 March 2015.
L&T garnered fresh orders worth Rs 136858 crore at consolidated in the year ended 31 March 2016. The international orders during the year at Rs 43956 crore constitute 32% of the total order inflow, L&T said. 62% of the total order inflow during the year was secured by the infrastructure segment, the company said in a statement.
In its outlook, L&T said that the domestic market continues to hold promise for revival of growth. Private sector and industrial capex is likely to take time to revive as investment sentiment is weak. Execution conditions remain challenging, mainly due to the limitation of the projects /clients to raise finances and slower clearances for land and environment. Banking system was stretched in corporate lending.
Growth momentum in the infrastructure segment rests mainly on the government initiatives in the core infrastructure such as Transportation, Power T&D, defence, smart cities and water projects.
On the international front, Asia, Middle East and Africa are seeking investment led growth. Global slowdown of under utilized capacities amongst EPC players have created opportunities for project implementation at competitive cost. Priority projects will receive Government sponsorship and multilateral funding.
Meanwhile, the company continues emphasis on operational efficiencies, faster execution of projects on hand and reduced working capital levels. Given track record, diversified portfolio and healthy order book, the company is focusing on profitable execution and is confident of growth in the near to medium term by leveraging presence in both the domestic and international segments.
Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016 compared with consolidated net loss of Rs 5674.29 crore in Q4 March 2015. Total income fell 12.33% to Rs 29636.69 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 25 May 2016
BPCL announces Q4 results today, 26 May 2016.
Coal India after market hours yesterday, 25 May 2016 said that registration requirements, schedule of dates for submitting applications and other details will be available from 26 May 2016 for auction for sponge iron sub-sector, followed by other sectors. It may be recalled that the Ministry of Coal had on 15 February 2016 issued policy guidelines and directed Coal India to conduct auction of coal linkages for the non-regulated sector.
GAIL (India)'s after market hours yesterday, 25 May 2016 reported 50.75% rise in net profit to Rs 769.99 crore on 17.73% fall in total income to Rs 11952.82 crore in Q4 March 2016 over Q4 March 2015.
The increase in net profit during Q4 March 2016 was mainly due to increase in natural gas sales and transmission volumes. Revenues from natural gas transmission business increased by 11% to Rs 1028 crore in Q4 March 2016 over Q4 March 2015.
Natural gas sales rose 8% to 74.41 MMSCMD in Q4 March 2016 over Q4 March 2015. Natural gas transmission rose 11% to 95.31 MMSCMD in Q4 March 2016 over Q4 March 2015.
National Aluminium Company (Nalco) said that the company's board of directors has unanimously approved the alteration of articles of association of the company to empower the company to buyback its shares. The company's board approved the proposal to buyback of not exceeding 64.43 crore equity shares of the company (representing 25% of the total number of equity shares in the paid-up share capital of the company) at a price of Rs 44 per share for an aggregate consideration not exceeding Rs 2834.96 crore from all the equity shareholders of the company, as on the record date, on a proportionate basis through a tender offer route. The board of directors noted the intention of the promoter of the company to participate in the proposed buyback.
Housing Development and Infrastructure (HDIL) said that the company proposes to consider issue of warrants to promoter(s) as per provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time in its board meeting scheduled to be held on 28 May 2016. The announcement was made after market hours yesterday, 25 May 2016.
Oil & gas stocks will be in focus. The Ministry of Petroleum and Natural Gas yesterday, 25 May 2016, announced the commencement of the process for auction of small oil and gas blocks. The government will auction 46 contract areas consisting of 67 different small fields for exploration and production. These small blocks have 625 million barrels of oil and oil equivalent gas (O+OEG) in-place volumes spread over 1,500 square kilometers in Onland, Shallow water and Deepwater areas. These oil and gas blocks are being auctioned under the new Hydrocarbon Exploration and Licensing Policy (HELP) and a new fiscal model based on revenue sharing contract. Single license for exploring all forms of hydrocarbons, graded system of royalty rates, pricing and marketing freedom for crude oil and natural gas are some of the highlights of HELP.
Yes Bank will be in focus. The Cabinet Committee on Economic Affairs (CCEA) has cleared the bank's proposal for increase in foreign investment limit in the bank's equity capital to 74% from 41.87% without any sub-limits. The announcement hit the market after trading hours. In late April 2016, the Reserve Bank of India (RBI) had raised the ceiling on investment in the bank's equity capital by foreign institutional investors to 60% from 49% after the bank's board of directors and shareholders approved the proposal. The RBI had at time capped total foreign holding in the bank from all sources at 60%.
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