Godrej Industries today reported consolidated
net profit of Rs 93.67 crore for the fourth quarter ended on March 31. It had
posted a net profit of Rs 42.72 crore in the same period in 2011-12 fiscal, the
company said in a BSE filing. The
total income of the company during the quarter stood at Rs 1,457.54 crore. It
was Rs 1,430.95 crore in same period in 2011-12 fiscal. The company's expenses
during the quarter under review declined Rs 1,368.47 crore of 2012-13 fiscal
from Rs 1,405.08 crore in year-ago period. For 2012-13, net profit stood at Rs
391.18 crore. It was Rs 291.61 crore in the previous financial year. Total
income of the company in the last fiscal was at Rs 6,964.32 crore in 2012-13
while it was Rs 5,612.09 crore in 2011-12 fiscal. The results were not
comparable with the previous fiscal due to changes in its shareholding in some
of the subsidiaries and joint ventures, the company said. "The
company has sold part of it's holding in its subsidiary viz Godrej Agrovet
Limited, entire holding in M'Modal Inc and its joint venture company viz Godrej
Hershey Limited," the filing added. Commenting on the results, Godrej
Industries Chairman AB Godrej said: "Our agri businesses recorded
encouraging growth in a challenging enviorment and despite a highly irregular
monsoon." He added that Godrej Properties witnessed a year of strong
growth and continued momentum with revnues. "For our chemical business, it
has been a tough year on account of volatility in the global macro economic environment
and raw material price fluctuations," Godrej said. The company's board has
recommended a dividend of Rs 1.75 per share of face value of Re 1 per share.
Shares of the company today fell by 1.40 per cent to settle at Rs 296.80 apiece
on the BSE. Source: Moneycontrol
Power Grid Corporation on Tuesday posted
consolidated net profit of nearly 31 per cent to Rs 4,312.61 crore for
the 2012-13 fiscal. The transmission utility had consolidated net profit
of Rs 3,302.99 crore in 2011-12, it said in a regulatory filing. In 2012-13,
the company's total income increased to Rs 13,727.12 crore, from Rs 11,073.58
crore in the previous fiscal. On
a standalone basis, Power Grid reported net profit of Rs 4,234.50 crore in the
last financial year. This is 30 percent higher than Rs 3,254.95 crore in
2011-12. Total income rose to Rs 13,328.74 crore in 2012-13, from Rs 10,785.01
crore in 2011-12. Power Grid will pay a final dividend of Rs 1.14 per share,
which would be in addition to the interim dividend of Rs 1.61 per scrip paid in
March this year. The company scrip rose marginally to close at Rs 112.50 on the
BSE.
Tata group's retail venture Trent Ltd today reported a marginal
decline in standalone net profit for the fourth quarter ended March 31, 2013 at
Rs 19.5 crore. The company had posted
a standalone net profit of Rs 19.52 crore in the same period of 2011-12 fiscal,
Trent Ltd said in a filing to the BSE. Total income from operations during the
quarter under review stood at Rs 229.59 crore as against Rs 198.93 crore in the
year-ago period, the company added. Total expense during the fourth quarter of
2012-13 stood at Rs 224.72 crore, up from Rs 217.51 crore in the same quarter
in the previous fiscal. The board of directors of the company has recommended
dividend of Rs 7 per equity share, aggregating Rs 27.22 crore for the year
ended March 31, 2013, it said. For the full year 2012-13, consolidated net loss
was at Rs 26.83 crore, an improvement from net loss of Rs 37.76 crore in the
previous fiscal. Net income from operations during FY13 stood at Rs 2,132.02
crore, up from Rs 1,844.86 crore in FY12, the filing added. Consolidated
revenue from retailing for the full year 2012013 was at Rs 2,115.12 crore, up
from 1,811.27 crore in the previous fiscal, it said. Shares of Trent Ltd were
trading at Rs 1,065 per share in the afternoon trade, down 1.50 percent from
the previous close on the BSE.
HDIL
Mumbai-based real estate
developer Housing Development and
Infrastructure ( HDIL ) disappointed the street with its fourth
quarter net loss at Rs 280 crore as against profit of Rs 315 crore reported in
a year ago period, impacted by consolidated exceptional loss of Rs 442 crore
during the quarter. Revenue dropped more
than 77 percent to Rs 143 crore during January-March quarter from Rs 625 crore
in corresponding quarter of last fiscal. The real estate developer said Mumbai
International Airport (MIAL) served termination notice for slum rehabilitation
project. "We have initiated legal remedies against MIAL's termination
notice and have written off unrealised cost of Rs 442 crore on MIAL
project," vice chairman & MD, Sarang Wadhawan said. He said, however,
no current project would be affected by MIAL termination. "We will
monetise balance TDR of 1 m sq ft of airport project," he added. "We
expect to book revenue from 3 projects in first quarter of FY14." He said
standalone debt has reduced from Rs 3,740 crore to Rs 3,143 crore while
consolidated debt fell by Rs 100 crore to Rs 4,018 crore. "Debt reduction
continues to be primary focus of the company," he added. Shares fell 10
percent to Rs 46.15 on Bombay Stock Exchange.
Essar Shipping
Essar Shipping 's consolidated net profit
plunged 99.91 per cent to Rs 5 lakh during the fourth quarter ended March 31,
hit hard by dismal performances of its shipping and logistics businesses as
well as rising costs. The Essar group company had reported a net profit of Rs
54.98 crore in the January-March quarter of 2011-12. Its total income from operations was down
11.78 per cent at Rs 729.08 crore during the quarter due to decline in revenues
from two major business segments -- fleet operations and logistics services, it
said in a filing to the BSE today. In Q4 of FY'12, it was Rs 826.41 crore.
While Essar's gross revenues from fleet operations or shipping business was
down nearly 4 per cent to Rs 370.28 crore in Q4, logistics business reported
decline of over 25 per cent at Rs 222.94 crore. The oilfield services business
posted a meagre growth of 1 per cent at Rs 151.82 crore during the quarter.
Moreover, the company's operating costs increased in Q4 as its total
expenditure, at Rs 678.55 crore, amounted to 92.55 per cent of its total
income. In the Q4 of FY'12, its expenditure was nearly 84 per cent of its total
income. "The shipping business has faced challenges due to the depressed
markets and freight levels globally. The robust performance of the oilfields
services business has enabled the company to maintain its consolidated
profitability in line with the previous year," Essar said in a separate
statement. For the full 2012-13 fiscal, the company's consolidated net profit
declined marginally by 2.80 per cent at Rs 35.80 crore vis-a-vis Rs 36.83 crore
of FY'12. Its total income in the last fiscal rose by 14.55 per cent at Rs
3,209.19 crore. "The company is now fully focused on managing
operating costs effectively. Together with specific measures for interest cost
reduction being pursued, these measures will strengthen the performance
of the company in the coming months and help increase profitability,"
Essar's Director and CEO (Sea Transportation Business) Captain Anoop
Sharma said. He added that during the year, Essar has taken delivery of its all
six mini cape dry bulk carriers built at STX Shipyard. Meanwhile, in a separate
announcement, the company said that Anshuman Ruia, its promoter and
non-executive director has stepped down from its Board with immediate effect,
though it did not specified the reasons for Ruia's resignation. Essar Shipping
scrip rose by 7.16 per cent to close at Rs 22.45 on the BSE.
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