Company Results

Indian agrochemical industry to reach USD7.5 bn by FY19: Report

Indian agrochemical industry to reach USD7.5 bn by FY19: ReportMumbai : Indian agrochemical industry is estimated at USD 4.25 billion in FY14 and is expected to grow at 12-13 percent per annum to reach USD 7.5 billion by FY'19, says a report.

"Indian crop protection industry is estimated at USD 4.25 billion in FY14 of which 50 percent are exports. The crop protection industry has experienced strong growth in the past and is expected to grow further at 12-13 percent per annum to reach USD 7.5 billion by FY2018-19.


Reliance General Insurance Q1 profit up 138%

Reliance-General-InsuranceNew Delhi: Reliance General Insurance has saw its profits more than double to Rs 24.3 crore in the first quarter of 2014-15, as the total number of policies sold during the period crossed the one-million mark.

The company, a leading private sector general insurance player and part of Anil Ambani-led Reliance Group's financial services arm Reliance Capital, also beat the overall industry trends with a significant surge in its premium collection.


SpiceJet flies into Rs 124 crore quarterly loss

SpiceJetNew Delhi: SpiceJet Thursday reported a net loss of Rs 124.10 crore for the three months ended June, mainly bogged down by higher expenses.

The no-frills carrier had a net profit of Rs 50.56 crore in the year-ago period.

In the first quarter of current fiscal, the airline saw its total income from operations slide to Rs 1,691.04 crore from Rs 1,701.54 crore recorded in the same period a year ago.

Besides, the company's expenses climbed to Rs 1,782.95 crore in the latest June quarter. In the comparable period, the same stood at Rs 1,641.93 crore.


Tata Motors global sales down 8% in July

Tata-MotorsNew Delhi: Tata Motors Thursday reported an 8.46 percent decline in global sales to 80,151 units in July.

The company had sold 87,566 units in the same month last year.

In the passenger vehicles category, the global sales last month were at 49,001 units, as against 46,684 units in July 2013, up 4.96 percent, Tata Motors said in a statement.

Sales of luxury brand Jaguar Land Rover rose 12.24 percent to 39,467 units in July, compared to 35,162 units in the same month last year.

Sales of commercial vehicles declined 23.8 percent in July to 31,150 units from 40,882 units a year ago.---- PTI


GMR posts Rs 593-crore consolidated loss for June quarter

gmr infrastructureHyderabad: GMR Infrastructure on Thursday posted a Rs 593-crore loss on a consolidated basis for the quarter ended June 30 as against a net loss of Rs 326 crore in the same period last year, due to higher interest cost, depreciation and scrapping of user development fee by AERA at Hyderabad airport.

In a filing to the stock exchange, the company said its total income (including other income) during the period rose to Rs 2,796 crore from Rs 2,689 crore a year ago.

The company shelled out Rs 832 crore towards finance cost during the quarter against Rs 610 crore in the same quarter last year.


FTIL Q1 net profit up 58% at Rs 128 cr

FTIL Q1 net profit up 58% at Rs 128 crNew Delhi - Financial Technologies (India) Ltd on Wednesday posted 58 percent jump in standalone net profit at Rs 128.24 crore for the first quarter ended June 30, 2014-15, on account of higher income.

The Jignesh Shah-led company had reported net profit of Rs 81.2 crore in the year-ago.

In a filing to the BSE, the FTIL said that total income increased to Rs 216 crore Q1, 2014-15 from Rs 169.54 crore in the same quarter of last fiscal, 2013-14.

The company has also declared first interim dividend of Rs 2 per share to be paid on September 5, the filing added.


ONGC net profit up 19% at over Rs 4,000 crore

ONGCNew Delhi: State-owned Oil and Natural Gas Corp on Wednesday reported 19 percent rise in net profit for the April-June quarter on realising higher crude oil prices.

Net profit of Rs 4,782 crore was 19.07 percent higher in the first quarter of 2014-15 than Rs 4,016 crore logged in the year-ago period, ONGC said in a statement here.

ONGC, which had almost flat crude oil production in Q1, had a net realisation of USD 47.51 per barrel as compared to USD 40.33 a barrel in Q1, 2013-14.

This was despite the subsidy outgo rising 4 percent to Rs 13,200 crore.


Tata Steel's consolidated profit plunges 70% to Rs 337 cr in Q1

Tata-SteelNew Delhi: Global steel giant Tata Steel's consolidated net profit plunged by 70.38 percent to Rs 337.33 crore in the April-June quarter, mainly due to Rs 1,577 crore write-down in a project.

Tata Steel group had reported a net profit of Rs 1,139.01 crore during the corresponding quarter in 2013-14 .

Net profit for the quarter came in at Rs 337 crores, affected by exceptional charges despite improved operating performances across all geographies, the company said in a statement.


BHEL shares tank 8% post disappointing earnings

BHEL shares tank 8% post disappointing earningsMumbai: Shares of state-run BHEL fell sharply by 8 percent in morning trade after the company's June quarter earnings came in below market expectations.

BHEL's stock slumped 7.73 percent to Rs 206.40 on the BSE.

At the NSE, the scrip tumbled 8 percent to Rs 206.20.

The stock was the worst performer among the blue-chips on both Sensex and Nifty during the early trade.

"BHEL's numbers were significantly below expectations," said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities.


IOC posts Rs 2,523 crore profit in June quarter

IOC posts Rs 2,523 crore profit in June quarterNew Delhi: Indian Oil Corporation (IOC), the nation's biggest oil firm, Tuesday reported a net profit of Rs 2,523 crore in the June quarter after government and upstream firms made good most of its losses on fuel sales.

It had reported a net loss of Rs 3,093.23 crore in April- June of last year on delays in payment of government subsidy.

"The net profit was mainly because of a foreign exchange gain of Rs 128 crore in Q1 as compared to a foreign exchange loss of Rs 4,024 crore," IOC Chairman B Ashok told reporters here.


Godrej Industries Q1 net up 46% at about Rs 78 crore

Godrej-IndustriesNew Delhi: Godrej Industries today posted 45.91 percent growth in consolidated net profit at Rs 77.70 crore for the first quarter ended June 30, 2014-15.

It had reported net profit of Rs 53.25 crore in the April- June period of the 2013-14 fiscal, Godrej Industries said in a BSE filing.

Net sales of the company stood at Rs 2,290.88 crore in Q1, 2014-15, up 23.67 percent as compared to Rs 1,852.4 crore in the same period last fiscal.


Mahindra Q1 profit declines 5.98% to Rs 881.78 crore

MahindraMumbai: Homegrown auto major Mahindra & Mahindra on Friday reported a 5.98 percent decline in its standalone net profit at Rs 881.78 crore for the first quarter ended June 30, 2014.

The auto major had posted a net profit of Rs 937.91 crore during the same period a year ago.

Net sales on a standalone basis during the April-June quarter declined marginally to Rs 10,597.07 crore from Rs 10,607.27 crore, Mahindra & Mahindra said in a filing to the BSE.


OBC Q1 net profit rises 3% to Rs 365 crore

OBC Q1 net profit rises 3% to Rs 365 croreNew Delhi - State-run Oriental Bank of Commerce on Monday reported 3.15 percent increase in net profit to Rs 364.54 crore for the quarter ended June 30.

The bank had reported a net profit of Rs 353.38 crore during the same quarter year-ago, Oriental Bank said in a filing to the BSE.

The bank's total income increased from Rs 5,255.7 crore for the quarter ended June 30, 2013 to Rs 5,576 crore for the quarter ended June 30, 2014.

Other income increased by 9.3 percent to Rs 588.20 crore in the quarter under review from Rs 538.05 crore earlier.


Bajaj Auto sales rise 9% in July

Bajaj Auto sales rise 9% in JulyNew Delhi - Bajaj Auto on Monday reported 9 percent increase in motorcycle sales at 2,67,841 units in July 2014.

The company had sold 2,46,828 units in the same month last year, Bajaj Auto Ltd said in a statement. BAL said exports were up 54 percent during the month at 1,69,755 units as compared to 1,10,023 units in July 2013.

In the commercial vehicles category, its sales stood at 51,451 units, up 49 percent, against 34,499 units in the same month of the previous year.


TVS Motor July sales up 32.15% to 2,03,092 units

TVS-MotorNew Delhi: Chennai-based TVS Motor Company on Saturday reported a 32.15 percent increase in its total sales at 2,03,092 units in July 2014.

The company had sold 1,53,676 units in the same month last year, TVS Motor Company said in a statement.

Total two-wheeler sales increased by 32 percent to 1,94,128 units in July 2014 as against 1,46,671 units in the same month a year ago.

Domestic two-wheeler sales stood at 1,64,571 units last month, up 30 percent, from 1,26,531 units in the year-ago period, it added.


Union Bank of India Q1 profit up 18.5% at Rs 664 crore

Union-BankMumbai: Union Bank of India today reported 18.5 percent increase in net profit at Rs 664.11 crore for the first quarter ended June 2014.

The state-owned bank had a net profit of Rs 560.22 crore during the corresponding period of the previous fiscal.

Total income of the bank rose to Rs 8,547.56 crore as against Rs 7,613.53 crore in the same quarter a year ago, Union Bank of India said in a statement.

Net interest income increased by 10.8 percent to Rs 2,117 crore against Rs 1,910 crore in the first quarter of the previous fiscal.


Hero MotoCorp sales up 8.67% in July

Hero-MotoCorpNew Delhi: Country's largest two-wheeler maker Hero MotoCorp on Friday reported a 8.67 percent increase in its total sales at 5,29,862 units in July 2014.

It had sold 4,87,545 units in the same month last year, Hero MotoCorp said in a statement.

During July, Hero MotoCorp become the first Indian two-wheeler maker to have a manufacturing facility in Latin America, where it has set up its wholly-owned subsidiary in Colombia 'HMCL Colombia SAS'.

"All the recent launches by the company, including the new Xtreme, Karizma and ZMR are driving volumes across market," Hero MotoCorp said.


Toyota Kirloskar sales declines 4.3% in July

ToyotaNew Delhi: Toyota Kirloskar Motor on Friday reported a 4.30 percent decline in total sales at 13,847 units in July 2014.

The company had sold 14,470 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

In the domestic market, TKM sold 11,921 units in July 2014, up 3.52 percent as compared to 11,515 units in July 2013.

During the month, the company exported 1,926 units of Etios.


Bajaj Electricals shares plunge 14%; m-cap down Rs 469 cr

Bajaj-ElectricalsMumbai: Shares of Bajaj Electricals on Thursday fell sharply by 14 percent after the company's June quarter earnings failed to meet market expectations.

Bajaj Electricals stock nosedived 14.04 percent to close the day at Rs 286.65 on the BSE. Intra-day, it tumbled 14.82 percent to Rs 284.

At the NSE, it slumped 13.77 percent to Rs 288.


Ipca Laboratories Q1 net jumps over two-fold to Rs 145.49 cr

Ipca Laboratories Q1 net jumps over two-fold to Rs 145.49 crNew Delhi: Drug firm Ipca Laboratories on Thursday reported over two-fold jump in its standalone net profit to Rs 145.49 crore for the quarter ended June 30, 2014, mainly on account of robust formulations sales.

The company had posted a net profit of Rs 71.77 crore for the corresponding period of the previous fiscal, Ipca Laboratories said in a filing to the BSE.

Standalone total income from operations of the company rose to Rs 935.96 crore for the quarter under consideration from Rs 805.56 crore for the same period a year ago.


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