Category: Earnings

Ambuja Cements Q1 net rises 10% to Rs 272 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Ambuja Cements, a unit of global conglomerate LafargeHolcim, today reported a 10.12% rise in standalone net profit at Rs 272 crore in the March quarter on higher sales volume.

The cement manufacturer had posted a net profit of Rs 247 crore in the same period last year. It follows January to December as its financial year.

The company’s net sales rose to Rs 2,763 crore in the March quarter, from Rs 2,530 crore in the year-ago period.

“The topline growth of 9% on a YoY basis is attributable to improved realisations and sales growth of premium brands – Compocem and Roof Special,” Ambuja Cements said in a statement.

The company’s sales volume also increased to 6.22 million ton in the March quarter, compared with 6.02 million ton in the corresponding period last year.

“During this quarter, the rise in global oil and energy prices drove up power and fuel costs and diesel prices which impacted freight costs. However, efficiencies improved,” it added.

The cement maker’s operating EBITDA increased by 29% year-on-year in the March quarter on productivity improvements and cost-saving measures by the company.

“Our focus on reducing costs, improving productivity, and increasing capacity utilisation backed by strong attention to the retail segment and robust sales from our premium value added products led to a strong quarter with 29% EBITDA growth,” said Ajay Kapur, managing director and chief executive officer, Ambuja Cement.

The company’s scrip closed the day at Rs 236.95, down 1.46% on the BSE, against 0.53% decline in the benchmark.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Alibaba quarterly revenue rises 61%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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China’s Alibaba Group Holding Ltd reported a better-than-expected 61% rise in fourth-quarter revenue on Friday, driven by steady sales in its core ecommerce and cloud computing businesses.

Revenue was 61.9 billion yuan ($9.73 billion) in the reported quarter, compared with the average analyst estimate of 58.9 billion yuan, according to Thomson Reuters I/B/E/S.

Net income attributable to shareholders, however, fell 29% to 7.56 billion yuan.

The March quarter is seasonally slow for Alibaba following its bumper sale event, Singles’ Day, in November.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Wockhardt Q4 net loss narrows to Rs 154.55 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Drug firm Wockhardt today reported narrowing of its consolidated net loss to Rs 154.55 crore in the fourth quarter ended March of 2017-18.

The company had posted a net loss of Rs 174.72 crore for the corresponding period of the previous fiscal, Wockhardt said in a BSE filing.

Consolidated revenue from operations of the company rose to Rs 1,018.26 crore for the quarter under review as against Rs 863.53 crore for the same period a year ago, it added.

“The business performance during the quarter ended March 31, 2018 showed marked improvement with sales growth by 18 per cent as compared with the similar quarter of the previous year,” Wockhardt said.

International business contributed 64 per cent of the total revenues during the fourth quarter of financial year 2017-18, it added.

For the fiscal ended March 31, 2018, net loss of the company stood at Rs 608.30 crore. It was Rs 195.72 crore in the previous fiscal, the company said.

Consolidated revenue from operations for the 2017-18 fiscal stood at Rs 3,936.90 crore as against Rs 4,014.61 crore in the year-ago period, it added.

The company’s board has approved raising of additional capital by way of one or more public or private offerings including through a qualified institutions placement to eligible investors through an issuance of equity shares or other eligible securities for an amount not exceeding Rs 1,500 crore, Wockhardt said.

The board has also approved issuance of non-convertible debentures on a private placement basis up to an amount not exceeding Rs 1,200 crore, it added.

The proceeds of the issue shall be utilised to repay/ prepay existing debts and general corporate purposes, Wockhardt said.

Shares of Wockhardt today closed at Rs 802.85 per scrip on BSE, down 1.65 per cent from the previous close.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bank of Maharashtra Q4 loss narrows to Rs 113 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bank of Maharashtra (BoM) today reported narrowing of standalone net loss to Rs 113.51 crore for the quarter ended March 31.

The public sector bank had registered a net loss of Rs 455.45 crore in the January-March quarter of 2016-17.

In December quarter 2017-18, the bank’s loss stood at Rs 596.70 crore, the bank said in a regulatory filing.

The Pune-headquartered lender is sitting on a huge pile of bad loans with gross non-performing assets (NPAs) at 19.48% of the gross advances at the end of March 2018. Gross NPAs were 16.93% by the end of March 2017.

In absolute value, gross NPAs as on March 31, 2018 were Rs 18,433.23 crore as against Rs 17,188.71 crore earlier.

Net NPAs or bad loans were 11.24 per cent of the net advances by the end of 2017-18 (Rs 9,641.19 crore), slightly down from 11.76 per cent (Rs 11,229.56 crore) by the end of 2016-17.

The bank’s provisions for bad loans were raised to Rs 1,994.61 crore for the reported quarter from Rs 1,742.76 crore over January-March 2016-17.

Total income during the quarter also slipped to Rs 3,094.46 crore from Rs 3,354.80 crore in year-ago period.

For the full year 2017-18, there was a net loss of Rs 1,145.65 crore (standalone) as compared to a loss of Rs 1,372.51 crore in 2016-17. Income during the year fell to Rs 12,602.47 crore from Rs 13,570.03 crore in the preceding year.

On consolidated basis, full year net loss stood a Rs 1,112.03 crore as against Rs 1,356.09 crore in 2016-17.

Income in 2017-18 was at Rs 12,636.15 crore, down from Rs 13,586.79 crore earlier.

During 2017-18, loans and advances amounting to Rs 961.80 crore (Rs 770.22 crore during the quarter) have been classified as fraud in terms of RBI norms and the entire amount is provided for, BoM said.

Meanwhile, the bank’s board has recommended no dividend for 2017-18.

Besides, the board has approved to raise Rs 3,000 crore by way of equity through qualified institutional placement, further public offer, rights issue. Additional Rs 1,000 crore is to be raised by issuing tier II bonds or other such debt instruments.

Stock of Bank of Maharashtra closed 7.90% higher at Rs 14.61 on BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

NIIT Tech Q4 net soars 16.3% to Rs 86 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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IT firm NIIT Technologies today said its net profit increased 16.3% to Rs 86.1 crore for the March 2018 quarter, excluding the impact of a one-time settlement in the year-ago period.

NIIT Technologies, in a statement, said the net profit in the January-March 2017 period was at Rs 73.9 crore, excluding the settlement.

On a like-to-like basis, the revenue grew 9.9% to Rs 788.8 crore in the reported quarter from Rs 717.6 crore in the January-March 2017 quarter.
Including the one-time settlement, net profit dipped 14.3%.

“During the same period last year, the company entered into a settlement with a government client which provided a one-time revenue of Rs 27 crore in that quarter. Year-on-year operating performance may be best viewed excluding this one-off gain in Q4 FY17,” NIIT Technologies said in a statement.

The company said it secured fresh business of  $145 million during the reported quarter, which included two large deals and seven new logos.
“Of the fresh business secured during the quarter, $39 million was from the US, $73 million from Europe, the Middle East and Africa (EMEA) and $33 million from rest of the world. Order book executable over the next 12 months expanded to $339 million,” it said.

Digital revenues grew 9% sequentially contributing to 26% of the total revenues in the said quarter.

Banking, financial services, and insurance vertical grew 5.4% during the quarter contributing to 44% of total revenues. Revenues in travel and transportation segment remained flat and represented 26% of the revenue mix.

Revenues from EMEA contributed 32% of the revenue mix, while the US accounted for 48%, and India and APAC 10% each.
For the full fiscal, net profit improved by 12.1% to Rs 280 crore, while revenue during the year grew 6.8% to Rs 2,991 crore.

The board recommended dividend of Rs 15 per share.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Ambuja Cements Q1 profit rises 10%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

India’s Ambuja Cements Ltd, part of global conglomerate LafargeHolcim Ltd, posted a 10.2% rise in its first-quarter profit, underpinned by higher cement sales volumes.

Standalone net profit rose to 2.72 billion rupees ($40.68 million) in the quarter ended March 31, from 2.47 billion rupees a year earlier, Ambuja said on Friday.

Analysts on average expected the company to post a profit of 2.97 billion rupees, according to Thomson Reuters data.

Revenue from operations fell 2.1% to 28.63 billion rupees.

Cement sales volume were 3.3% higher for the quarter.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow