Tata Motors' consolidated net profit fell 56.19% to Rs 1716.50 crore on 3.43% increase in total income to Rs 67821.21 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 26 May 2015.
Tata Motors said its profit before tax (PBT) declined sharply to Rs 2771 crore in Q4 March 2015 from Rs 5053 crore in Q4 March 2014 due to higher depreciation and amortization and adverse mark to market of un-matured hedges not eligible for hedge accounting. The company attributed the small increase in revenue in Q4 March 2015 to increase in wholesale volumes and richer product mix both in the standalone business and Jaguar Land Rover (JLR).
JLR's profit after tax declined to GBP 302 million in Q4 March 2015 from GBP 449 million in Q4 March 2014. JLR's profit before tax (PBT) fell 31.3% to GBP 396 million in Q4 March 2015 over Q4 March 2014. The sharp decline in PBT was due to higher depreciation and amortization and unfavourable revaluation of foreign currency debt and unrealised hedges that are not eligible for hedge accounting treatment. JLR's revenue rose 8.9% to GBP 5,826 million in Q4 March 2015 over Q4 March 2014. JLR's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 10.4% to GBP 1,016 million in Q4 March 2015 over Q4 March 2014.
On standalone basis, Tata Motors reported net loss of Rs 1164.25 crore for Q4 March 2015, which was sharply higher than net loss of Rs 816.61 crore in Q4 March 2014. Revenue (net of excise) jumped 26.2% to Rs 10784 crore in Q4 March 2015 over Q4 March 2014. EBITDA stood at Rs 299 crore in Q4 March 2015 as against negative EBITDA of Rs 528 crore in Q4 March 2014.
Tata Motors said that considering the continued weak operating environment in the standalone business and in view of the losses for the year, no dividend is permitted to be paid to the shareholders of the company for the year ended 31 March 2015 (FY 2015) as per the Companies (Declaration and Payment of Dividend) Rules, 2014.
Tech Mahindra's consolidated net profit before special adjustment related to Mahindra Engineering Services (MESL) fell 39.23% to Rs 472 crore on 6.33% increase in revenue from services to Rs 6116.80 crore in Q4 March 2015 over Q3 December 2014. The result was announced after market hours yesterday, 26 May 2015. The results are not comparable. The Q4 March 2015 results include the results of Lightbridge Communications Corporation (LCC), USA and SOFGEN Holdings (SOFGEN) which were acquired as 100% subsidiary effective from 2 January 2015 and 14 March 2015 respectively.
Tech Mahindra's earnings before interest, taxation, depreciation and amortization (EBITDA) fell 19.95% to Rs 928.60 crore in Q4 March 2015 over Q3 December 2014.
Tech Mahindra announced after market hours yesterday, 26 May 2015, that its board approved the proposal for amalgamation of Tech Mahindra BPO and New vC Services, wholly-owned subsidiaries, with Tech Mahindra. As per the proposal, Tech Mahindra BPO and New vC Services would be merged with Tech Mahindra. The appointed date of the merger scheme is 1 April 2015. Tech Mahindra will not issue new shares upon merger since Tech Mahindra BPO and New vC Services are its wholly owned subsidiaries. The merger is subject to the approval from High Court of Bombay and shareholders and creditors of the companies.
GAIL (India) announces Q4 result today, 27 May 2015.
Sun Pharmaceutical Industries' subsidiary Taro Pharmaceutical Industries yesterday, 26 May 2015 reported net income of $152.292 million in Q4 March 2015 from $89.640 million in Q4 March 2014. Net sales rose to $244.180 million in Q4 March 2015 from $187.176 million in Q4 March 2014.
Punjab National Bank announced after market hours yesterday, 26 May 2015, that the additional charge of the Managing Director & CEO of the bank vested with Gauri Shankar has been extended by three months effective from 9 May 2015 or till the date of appointment of regular MD & CEO or until further orders, whichever is earlier. Gauri Shankar, executive director was vested with additional charge of Managing Director & CEO of the bank for a period of three months, effective from 9 February 2015 to 9 May 2015 as per Government order dated 9 February 2015.
On a consolidated basis, Reliance Power's net profit rose 2.82% to Rs 276.47 crore on 20.09% increase in total income to Rs 1680.77 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 26 May 2015, Consolidated net profit rose 0.16% to Rs 1028.32 crore on 29.86% increase in total income to Rs 7202 crore in the year ended March 2015 over the year ended March 2014.
Thermax reported 24.9% rise in net profit to Rs 132.31 crore on 11.7% rise in total income to Rs 1583.57 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 26 May 2015.
IDBI Bank reported 5.3% rise in net profit to Rs 545.94 crore on 19.3% rise in total income to Rs 9382.37 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 26 May 2015.
On a consolidated basis, Ballarpur Industries reported 78.7% surge in net profit to Rs 27.55 crore on 9.1% fall in total income to Rs 1249.13 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours yesterday, 26 May 2015.
Raymond turns ex-dividend today, 27 May 2015, for a dividend of Rs 3 per share for the year ended 31 March 2015.
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