National Aluminium Company's (Nalco) net profit surged 170.52% to Rs 354.47 crore on 16.6% growth in total income to Rs 2057.61 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 10 February 2015.
Shares of public sector oil marketing companies (PSU OMCs) will be in focus after the Ministry of Petroleum & Natural Gas after trading hours yesterday, 10 February 2015, said that the Central Government has amended the Kerosene (Restriction on Use and Fixation of Ceiling Price) Order, 1993 with a view to ease the availability of white kerosene (market priced kerosene) for sale in the open market. By virtue of this amendment, all the activities of storage, transportation and sale of non-PDS kerosene have been freed of regulatory control. It is expected that this will reduce demand for diverted PDS kerosene by improving availability of non-PDS kerosene in the open market and will thus meet the demand of kerosene for various legitimate end uses for the industry and for individual consumption by those who can afford it at market price, the Ministry of Petroleum & Natural Gas said in a statement.
BPCL, Container Corporation of India, Deepak Fertilizers and Petrochemicals Corporation, Escorts, Bata India, Godrej Industries, The India Cements, Power Finance Corporation, Natco Pharma and NCC are some of the companies that will release their earnings for the December quarter today, 11 February 2015.
ACC after market hours yesterday, 10 February 2015, said that limestone mining operations have resumed at the captive mines of the company's Chaibasa cement plant in Jharkhand in terms of the recent Mines and Minerals (Development and Regulations) Ordinance 2015. Earlier, ACC had on 10 October 2014 announced temporary suspension of mining operations at its Chaibasa and Bargarh cement plants pursuant to a judgement of the Supreme Court under deemed extension of second and subsequent renewals of mining leases.
Asian Paints after market hours yesterday, 10 February 2015 said that Berger International, Singapore (BIL) an indirect subsidiary of the company has completed the acquisition of 51% stake in Kadisco Paint and Adhesive Industry Share Company, Ethiopia (Kadisco) for a consideration of $18.95 million (approximately Rs 117.6 crore) in cash. Certain regulatory approvals are pending from the governing authorities in Ethiopia in relation to the said acquisition, Asian Paints said. Kadisco is one of the leading paint companies in Ethiopia and is engaged in the manufacturing and selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia.
National Buildings Construction Corporation (NBCC) has secured Project Management and Consultancy (PMC) business of Rs 231.40 crore from Indian Institute of Technology (IIT), Roorkee.
Oriental Bank of Commerce (OBC) after market hours yesterday, 10 February 2015 said that the bank has issued 9.48% unsecured non-convertible fully paid-up Basel III compliant perpetual debt Instruments of Rs 10 lakh each for cash at par aggregating Rs 500 crore.
Jaiprakash Associates' reported net loss of Rs 116.09 crore in Q3 December 2014, higher than net loss of Rs 88.71 crore in Q3 December 2013. Total income fell 2.4% to Rs 3105.26 crore in Q3 December 2014 over Q3 December 2013.
On a consolidated basis, Entertainment Network (India)'s net profit rose 26.9% to Rs 32.84 crore on 20.1% growth in total income to Rs 125.11 crore in Q3 December 2014 over Q3 December 2013.
Entertainment Network (India) said the Board of Directors of the company at its meeting held on 10 February 2015, has approved the constitution of a Committee of Directors to explore, negotiate and conclude M & A opportunities in the FM broadcasting space.
SRF's net profit rose 0.77% to Rs 72.62 crore on 2.38% growth in total income to Rs 886.40 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 10 February 2015.
SRF after market hours yesterday, 10 February 2015 said that its board of directors at a meeting held on 10 February 2015, approved capital expenditure proposal of about Rs 25 crore for enhancing the R&D capability of the chemical business at Bhiwadi, Rajasthan. The board also approved capital expenditure of about Rs 66 crore for modernization of technical textile plant at Gwalior, MP.
Jain Irrigation Systems reported a consolidated net loss of Rs 39.70 crore in Q3 December 2014, compared with net profit of Rs 25.90 crore in Q3 December 2013. Revenue declined 5.8% to Rs 1323.50 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 10 February 2015.
Anil Jain, Managing Director of Jain Irrigation Systems said that Q3 December 2014 was a weak quarter due to extreme weather events and significant decline in oil prices and consequent reduction in polymer prices. This coupled with lower agri commodity prices has resulted in lower demand in rural India, Mr. Jain said. However, things are looking up going forward due to stable polymer prices now and some pick up in infrastructure investment, he added. The company expects the current quarter (Q4 March 2015) to be positive growth quarter with stable margins.
Triveni Turbine's (TTL) net profit rose 14% to Rs 23.60 crore on 7% growth in net revenue to Rs 150.50 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 10 February 2015.
TTL's EBITDA (earnings before interest, taxation, depreciation, and amortization) rose 15% to Rs 38.50 crore in Q3 December 2014 over Q3 December 2013. EBITDA margin improved to 25.6% in Q3 December 2014, from 23.8% in Q3 December 2013.
With regard to its future business outlook, TTL said that while the overall domestic market still remain more or less at the same level as last year, there has been an increase in new enquiries and the customers are restarting the discussions on many enquiries. TTL expects that in the coming quarters, there might be policy initiatives. This eventually lead to new enquiries and order finalization, TTL said. The company continues to maintain its market dominance in the domestic market with over 60% market share, TTL said in a statement.
Radico Khaitan's net profit fell 1.2% to Rs 21.27 crore on 5.7% growth in total income to Rs 422.79 crore in Q3 December 2014 over Q3 December 2013.
Credit Analysis and Research (CARE)'s net profit fell 6.4% to Rs 26.24 crore on 7.8% growth in total income to Rs 65.26 crore in Q3 December 2014 over Q3 December 2013.
Vardhman Polytex after market hours yesterday, 10 February 2015 said that its board of directors at a meeting held on 6 February 2015, approved to sell/transfer the investment held in equity shares of Oswal Industrial Enterprises (OIEPL) wholly or partly. The board also approved to raise the funds for an amount not exceeding Rs 300 crore from Indian/overseas market in form of equity/ADR/GDR/FCCB etc.
Bharat Forge turns ex-dividend today, 11 February 2015, for interim dividend of Rs 3 per share for the year ending 31 March 2015.
Sun TV Network turns ex-dividend today, 11 February 2015, for third interim dividend of Rs 6.75 per share for the year ending 31 March 2015.
Wendt (India) turns ex-dividend today, 11 February 2015, for interim dividend of Rs 10 per share for the year ending 31 March 2015.
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