On a consolidated basis, Tata Steel reported net profit of Rs 14688.02 crore in Q4 March 2018 compared with net loss of Rs 1168.02 crore in Q4 March 2017. Net sales rose 7.05% to Rs 35737.19 crore in Q4 March 2018 over Q4 March 2017. The company received one-time exceptional gain of Rs 11376.14 crore in March quarter. The exceptional gain includes a non-cash gain of Rs 14077 crore on account of restructuring of UK pension scheme.
Commenting on the result, TV Narendran, CEO & MD said that Tata Steel performance has been robust in FY 2018 driven by strong execution strategy and supported by favourable global demand-supply balance. During the year, the company's Indian operations delivered volume growth better than the market on the back of the ramp-up at Kalinganagar plant and the strength of the firm's marketing network and brand equity. Growth was broad-based across marketing segments.
Gross debt as on 31 March 2018 increased to Rs 92147 crore, mainly driven by foreign exchange translation impact. Net debt declined to Rs 69215 crore. The result was announced after market hours yesterday, 16 May 2018.
On a consolidated basis, net profit of JSW Steel rose 185.33% to Rs 2879 crore on 22.96% rise in net sales to Rs 20027 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 16 May 2018.
On a consolidated basis, net profit of Prataap Snacks declined 12.50% to Rs 10.08 crore on 26.64% rise in net sales to Rs 269.75 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 16 May 2018.
Net profit of Muthoot Finance rose 40.28% to Rs 451.39 crore on 6.1% decline in total income to Rs 1608.03 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 16 May 2018.
Divi's Laboratories announced that its Unit-I at Choutuppal, Telangana State has had an inspection by the US Food and Drug Administration (USFDA) from 14 to 16 May 2018. This was a general Current Good Manufacturing Practice (cGMP) inspection by the FDA. The inspection has been concluded with no 483 observations. The announcement was made after market hours yesterday, 16 May 2018.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
