Bakery and dairy products maker Britannia Industries reported a 55.35 percent increase in its consolidated net profit at Rs 167.25 crore for the quarter ended March 31, 2015. The company had posted a net profit of Rs 107.66 crore in the same period of previous fiscal, Britannia Industries said in a filing to the BSE. Britannia's net sales rose to Rs 2,031.83 crore during the quarter, up 14.32 percent against Rs 1,777.28 crore in the same period of previous fiscal. During 2014-15 fiscal, the company's net profit was also up 74.18 percent to Rs 688.64 crore as against Rs 395.35 crore in the year-ago period. Net sales during 2014-15 were also up 13.84 percent to Rs 7,775.09 crore as against Rs 6,829.32 crore a year ago.
Net profit of Bajaj Auto slipped 18.5 percent in quarter ended March 2015 to Rs 621.6 crore from Rs 762.6 crore in corresponding quarter last fiscal. During the quarter, its total income fell 3.9 percent at Rs 4,739 crore compared to Rs 4,932.3 crore year-on-year.Weak volumes dragged the company’s growth. Volumes declined 16.3 percent at 7.8 lakh units year-on-year. Hit by other expenses, its reported margins decreased 120 basis points on yearly basis. Other expenses, rising 15 percent (Y-o-Y) to Rs 463.4 crore, also impacted profits. Other expenses was higher due to change in actual valuation of gratuity of Rs 60 crore and cost incurred due to Akurdi plant fire. Had there been no other expenses, the gross margins would have actually improved for the company. EBITDA was down 10.1 percent at Rs 838 crore versus Rs 931 crore year on year. Operating profit margin was 17.7 percent against 18.9 percent on yearly basis.
Tata Group firm Voltas Ltd on Thursday reported a 17.55 percent increase in consolidated net profit at Rs 118.04 crore for the fourth quarter ended March 31, 2014-15. The company had net profit of Rs 100.41 crore in the January-March quarter of 2013-14. Voltas' net sales in the fourth quarter of 2014-15 increased marginally by 2.32 percent to Rs 1,484.09 crore from Rs 1,450.36 crore for the same period of last fiscal, Voltas said in a filing to the BSE. For the financial year 2014-15, the company had a net profit of Rs 384.33 crore. It was Rs 245.73 crore in the 2013-14 fiscal. Voltas net sales for 2014-15 were at Rs 5,144.29 crore as against net sales of Rs 5,243.66 crore in the previous fiscal year.
Indiabulls Real Estate Ltd reported an over two-fold increase in its consolidated net profit at Rs 93.13 crore for the fourth quarter ended March 31, 2015. The company had posted a consolidated net profit of Rs 41.67 crore in the same period of previous fiscal, IBREL said in a filing to the BSE. The company's total income from operation also rose to Rs 594.22 crore during the quarter, up 81.38 per cent against Rs 327.60 crore in the same period of the previous fiscal. During 2014-15 fiscal, the company's consolidated net profit was also up 10.82 per cent to Rs 248.08 crore as against Rs 223.84 crore in the year-ago period. Net sales during 2014-15 were also up 49.81 per cent to Rs 2,601.18 crore as against Rs 1,736.24 crore a year ago.
Net profit of Shree Renuka Sugars reported to Rs 4.30 crore in the quarter ended March 2015 as against net loss of Rs 88.30 crore during the previous quarter ended March 2014. Sales declined 9.44 percent to Rs 1683.60 crore in the quarter ended March 2015 as against Rs 1859.00 crore during the previous quarter ended March 2014. For the full year,net loss reported to Rs 295.10 crore in the year ended March 2015 as against net loss of Rs 466.10 crore during the previous year ended March 2014. Sales declined 11.93 percent to Rs 5744.20 crore in the year ended March 2015 as against Rs 6522.40 crore during the previous year ended March 2014.
Hyderabad-based Sagar Cements Limited has reported a net profit of Rs 21.7 crore for the quarter ended March, 2015 on the back of increased revenues and the profit margins, as compared with a net loss of Rs 8.83 crore in the corresponding quarter last year. Total income for the company grew 31.4 per cent at Rs 196.17 crore in the quarter under review as compared to Rs 149.29 crore in the year ago period. Expenditure for the quarter marginally lower by 1.93 per cent at Rs 155.06 crore from Rs 158.11 crore in the corresponding previous quarter, pushing the gross profit margins. For the full year the company's net profit stood at Rs 296.65 crore as compared to a net loss of Rs 25.58 crore in the previous year.
Idea Cellular reports that compant is looking to sell its independent towers. To Sell Independent Towers deal value is USD 1.2 billion or Rs 7,580 crore. Axiata, Bharti Infratel & American Tower Corp reportedly show interest in buying the towers. Comapny owns around 11,000 towers. Net Debt at Rs 12,804 crore as of March 31Net debt/EBITDA at 1.15x. Company paid Rs 30,306 crore in the recent auctions. This debt will be over & above the last reported debt.
CIPLA acquires 51 percent stake in Uganda-based, Quality Chemicals. CIPLA acquires 51 percent stake in Quality Chemicals for USD 30 million. Acquisition will be in tranches from current shareholders. Comapany will pay USD 8 million upfront. Balance payment in 5 equal installments of USD 4.41 million. Each Transaction expected to be completed by July 2015.
Quality Chemicals is a Company involved in imports and distributes drugs and consumer products.
CIPLA recalls Levalbuterol inhalation solution. Levalbuterol inhalation solution is an asthma drug. Cipla manufactured the drug for Dr Reddy's. Drug was due to expire in December 2015. Class III; Voluntary firm initiated recall. Failed impurities/degradation reason for recall. Company recalling over 1.4 lakh vials.
Kalindee Rail fourth quarter disappoints in FY15 year on year. Total Income down by 17 percent at Rs 118.4 crore versus Rs101.16 crore. EBITDA rises by 65 percent at Rs 4.4 crore versus Rs 12.7 crore. Margins contract by 890 bps at 3.7 percent versus 12.6 percent. EBITDA hurt by other expenses, high employee costs. EBITDA hurt by exceptional expense. Other Expenses up 2x at Rs 60.3 crore versus Rs 33.5 crore. Employee Cost high at Rs 6 crore versus Rs 50 lakh. Net Loss at Rs 10.76 crore versus Profit of Rs 12.64 crore. Exceptional Expense of `16.2 cr
Strides Brokerages to buy Aspen's Australia Business. Macquarie View is that Treading the known path. Arrow Pharma acquisition at attractive valuations of 10x trailing EV/EBITDA. Will lead to 10 percent EPS accretion to FY17 earnings forecast. Australia had been a core market for co in the past. Strong local management. Large portfolio leverage. Top small cap pick in the pharma space. Target of Rs 1,700/share. Recommend buying aggressively at current levels.
Murugappa Group Company: SEBI charges group chairman with insider trading. Murugappa Group Company (make HB) Cholamandalam, Coromandel, Tube Investments, Carborundum, EID Parry.
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