Mahindra & Mahindra
Utility vehicle maker Mahindra & Mahindra reported a better-than-expected fourth quarter net profit of Rs
889 crore, up near 2 percent year-on-year, helped by sales growth, which was
also ahead of street expectations and exceptional gain from sale of Mahindra Holidays and Resorts shares. The company's net sales in the quarter rose 12
percent from a year ago to Rs 10,353 crore in Jan-March. Analysts on average
had expected M&M to report a net profit of Rs 723 crore on revenue of Rs
9,990 crore, according to a CNBC-TV18 poll. Its operating margin cane in at
12.1 percent in Jan-March. The company sold 34 lakh shares of Mahindra Holidays
in the quarter, which resulted in an exceptional gain of Rs 91 crore. Its
finance costs also declined to Rs 51 crore from Rs 71 crore a year ago. M&M
shares surged post the earnings announcement and at 14:50hrs, the stock was up
3.7 percent at Rs 997 on NSE.
Ipca Laboratories
Drug firm Ipca Laboratories today reported a net profit
of Rs 75.43 crore for the fourth quarter ended March 31, 2013, on back of
robust sales. It had posted a net profit of Rs 76.61 crore for the
corresponding quarter of the previous fiscal, the company said in a statement. "Since the entire effect for amalgamation
of Tonira Pharma Ltd with the company was given in the last quarter of the
financial year ended March 31 2012, the financial results of quarter ended
March 31, 2013 and quarter ended March 31, 2012 are not comparable," Ipca
Laboratories said. Total income from operations of the company, however, rose
to Rs 671.71 crore for the quarter under consideration from Rs 561.83 crore for
the same period year ago. In a separate filing on the BSE, the company said its
board of directors has recommended a final dividend of Rs 2 per share for the
financial year ended March 31, 2013. Net profit of the company for the
financial year ended March 31, 2013 rose to Rs 331.39 crore from Rs 280.17
crore for the previous fiscal. The company's total income from operations stood
at Rs 2,778.42 crore for the fiscal year ended March 31, 2013 against Rs
2,330.06 crore in the previous fiscal. The company has a strong thrust on
exports. Exports now account for 61 per cent of the income, Ipca Laboratories
said. Shares of Ipca Laboratories were trading at Rs 609.55 per scrip in late
afternoon, up 3.11 per cent from its previous close on the BSE.
Lanco Infratech
Diversified group Lanco Infratech today posted a loss of Rs
31.6 crore in the three months ended March 31, 2013. Lanco had a profit of Rs
72.7 crore in the year-ago period. The company is into power generation and road projects, among
others. The reported revenue stood at Rs 3,569.6 crore in the fourth quarter of
the last fiscal. The same stood at Rs 3,376.2 crore in the same period a year
ago. During the fourth quarter, it incurred a forex loss of Rs 16.7 crore,
according to a company statement. For the full year ended March 2013, Lanco
recorded a loss of Rs 1,073.3 crore. In the comparable period, the loss was
lower at Rs 112 crore. The group's net debt touched Rs 33,593.5 crore at the
end of March 2013.
SAIL
State run Steel Authority of India’s ( SAIL ’s ) March
quarter profit declined 72 percent year-on-year to Rs 477 crore on
higher employee cost which went up 36 percent to Rs 2473 crore. Even
interest cost almost doulbed to Rs 215 crore from Rs 212 crore YoY. Total
Income also de-grew 11 percent YoY to Rs 12330 crore. Other factors that
contributed to lower profit include power and fuel cost which climbed 4 percent
to Rs 1218 crore. Forex gain was also down 98 percent to Rs 16 crore along with
an 7.6 percent rise in other expense. Net sales realisation also declined to Rs 34489/tonne as against
38717/tonne YoY. The company also witnessed
flattish growth in saleable steel volume at 11. 1 million tonnes. Earnings
before interest, tax, depreciation and amortization (EBITDA) also declined to
Rs 924 from Rs 1576 crore YoY. Post earnings announcement, SAIL shares
declined marginally to Rs 59.85 despite a dent in earnings.
GMDC
Gujarat Mineral Development
Corporation ( GMDC ) today reported 5.90 per
cent decline in net profit at Rs 149.27 crore for the quarter ended March 31, 2013.
The company had posted
a net profit of Rs 158.64 crore in the corresponding quarter a year ago. The
total income of the state-government PSU dipped by 15 per cent in the quarter
ended March 31, 2013 at Rs 476.52 crore against Rs 560.61 crore in the
corresponding quarter of the previous year.
MCX
Multi-Commodity Exchange of
India Ltd ( MCX ) today said its net profit
increased by 16 per cent to Rs 76.62 crore in the fourth quarter ended March 31
from Rs 65.95 crore in the same period of last fiscal. Total income increased by nine per cent
to Rs 169.04 crore from Rs 155.18 crore in the quarter ended March 31, 2012, a
company statement said here. The leading commodity bourse's EBITDA (earnings
before interest, taxes, depreciation and amortisation) rose by seven per
cent to Rs 112.03 crore from Rs 105 crore a year ago. In FY13, MCX's total
income went up by two per cent to Rs 644.69 crore from Rs 631.03 crore in
FY 12, it said. Net profit increased by four per cent to Rs 298.64 crore
from Rs 286.19 crore last fiscal. For the year ended March 31, 2013, EBITDA
margin was 68 percent and PAT margin 46 per cent. The Board of Directors
recommended a final dividend of 120 per cent on the face value of Rs 10 per
share for the year ended March 31, 2013. The total dividend for FY13 (subject
to the final dividend being approved by shareholders) is 240 per cent - Rs 24
per share on the face value of Rs 10 each. The exchange said its average daily
turnover traded for FY13 stood at Rs 48,790 crore as against Rs. 50,313 crore
in the previous fiscal. The total number of commodity futures contracts traded
on the exchange for FY 13 stood at 375.05 million as against 389.85 million in
FY12. "The global commodity markets witnessed a sharp dip in volumes due
to low volatility in commodity prices resulting in low demand for risk
management instruments. Despite an adverse business environment, MCX has
maintained its profitability," MCX Managing Director and CEO Shreekant
Javalgekar said. MCX's market share rose to 87.3 per cent from 86 per cent in
the previous year and we retained the third position globally, he said. For
CY2012, MCX was the world's largest exchange in gold and silver futures, second in
copper and natural gas and third largest in crude oil futures, Javalgekar said. Source: Moneycontrol
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