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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Sambandam Spinning Mills to hold AGM
May 09,2017

Sambandam Spinning Mills announced that the 43rd Annual General Meeting (AGM) of the company will be held on 12 August 2017.

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Board of Sambandam Spinning Mills recommends final dividend
May 09,2017

Sambandam Spinning Mills announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Procter & Gamble Hygiene and Health Care fixes record date for special interim dividend
May 09,2017

Procter & Gamble Hygiene and Health Care has fixed 18 May 2017 as the Record Date for the purpose of Payment of Special Interim Dividend. The dividend shall be paid, between 22 May 2017 to 04 June 2017.

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Board of Blue Dart Express recommends final dividend
May 09,2017

Blue Dart Express announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 15 per equity Share (i.e. 150%) , subject to the approval of the shareholders.

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Maithan Alloys to pay dividend
May 09,2017

Maithan Alloys announced that dividend, if approved at the ensuring Annual General Meeting shall be paid/dispatched to the members on and after 16 August 2017.

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The severity of the cash crunch, in conjunction with a slow pace of remonetization, led to a slowdown in economic activity in India
May 09,2017

On November 8, 2016, the Government of India withdrew the legal tender status of all existing 500 and 1,000 rupee banknotes, effective the next day, in a bid to nullify n++black moneyn++ hoarded in cash, address tax evasion, tackle counterfeiting, and curb financing of terrorism. The initiative affected notes with a total value of about 15 trillion rupees, which accounted for about 86 percent of all cash in circulation. At the time of the withdrawal, the introduction of a new series of 500 and 2,000 rupee banknotes was announced. However, the supply of new banknotes in the months following the initiative was insufficient, even as the authorities took multiple steps to ease the currency transition. While there was no limit on the amount of bank deposits for the phased-out bills, the scarcity of new banknotes prompted the government to suspend cash exchanges and impose tight caps on cash withdrawals by individuals as well as by corporations. As disruptions to payments arose, several temporary exemptions were granted to ease the cash crunch. These exemptions aimed at easing transactions in some public offices and for the farming sector, as well as making payments for public utility services and purchasing key primary products.

The key factor behind the short-term economic disruptions was the primarily cash-based nature of the Indian economy and its limited electronic payments infrastructure. At end-2015, currency in circulation in India stood at about 12 percent of GDP, one of the highest levels among countries covered by the Bank for International Settlements Committee on Payments and Market Infrastructure. Cash accounted for about threequarters of the narrow money base, as a large number of households (particularly in rural areas of India) rely on cash for everyday transactions. Numbers of bank branches and ATMs per capita are relatively low in India; few payment cards with a cash function exist; and the average number of transactions per Indian made with payments instruments in 2015 totaled 11 transactions.

The severity of the cash crunch, in conjunction with a slow pace of remonetization, led to a slowdown in economic activity. Indias Purchasing Managers Index for services, which also covers retail and wholesale trade, collapsed from 55 in October 2016 to 43 in November, 2016. The growth of credit to the nonfood private sector decelerated from 9 percent at end-October 2016 to a 10-year low of just 4 percent by end-December, 2016. The consumer goods component of the index of industrial production declined by about 7 percent in December 2016, with production of consumer durables falling by 10 percent. Domestic sales of motor vehicles declined by 20 percent in December 2016 compared to December 2015, with the largest drop taking place in Indias mass-consumer-oriented segment of three-wheel and two-wheel passenger vehicles. Although the slowdown in industrial activity has been relatively muted, with overall industrial production falling by less than n++ of 1 percent from the previous year, investment activity appears to have been severely affected. As per the data compiled by the Centre for Monitoring of Indian Economy, the number of new investment projects announced during the October-December 2016 quarter was the lowest in over a decade, and their combined value was only about one-half of the average recorded during the previous two years. While the remonetization proceeded slowly over the first few months, about 75 percent of the pre-demonetization level of currency in circulation was restored by late March.

IMF staff analysis suggests that, compared to the October 2016 IMF World Economic Outlook forecasts, cash shortages are likely to slow FY2016/17 growth by about 4/5 of 1 percentage point and FY2017/18 growth by about n++ of 1 percentage point. A decline in currency supply can be calibrated as a temporary tightening of monetary conditions, using previous money demand studies for India.1 The currency shortage associated with the currency exchange, assumed by the staff to gradually unwind through early 2017, corresponds to a substantial tightening of monetary conditions in the initial weeks of the initiative, which will ease as currency is replaced. Consequently, based on the IMFs India Quarterly Projection Model, GDP growth is expected to slow in the second half of FY2016/17, before gradually rebounding in the course of FY2017/18. An analysis of sectoral accounts that takes reliance on cash into account leads to similar estimates of growth for fiscal years 2016/17 and 2017/18. It is likely, however, that national accounts statistics, at least in the near term, may understate the economic impact of the cash crunch. Specifically, the impact on the informal economy and cash-based sectors, which are relatively large and have been affected the most by the cash crunch, is likely to be understated because these sectors are either not covered in the official statistics or are proxied by the formal sector activity indicators. Nonetheless, the economic repercussions from the currency withdrawal remain a key domestic risk in India, in part as the near-term adverse economic impact of accompanying cash shortages remains difficult to gauge.

Notwithstanding the near-term economic disruptions, the currency withdrawal and exchange initiative may help secure some long-term gains, particularly if complemented by reforms to strengthen Indias formal economy and the financial system. The scope for medium-term gains could span several dimensions:

n++ Fiscal gains- Bank deposits of large amounts (above US$4,000) were expected to attract high scrutiny from the Indian tax authorities and the information obtained as a result of income verification could lead to a durable impact on the tax revenue base. With only about 1 percent of the Indian population paying personal income taxes, the scope for broadening the tax base is clearly large. In principle, unreturned cash could also produce a one off revenue gain for the Reserve Bank of India that can enable an increased dividend transfer to the Government of India. Any such windfall revenue would need to be clearly established, should be only realized once, and should be absorbed prudently and preferably in a nonrecurring manner, for example through greater capital injections to public sector banks.

n++ Banking sector liquidity-The increase in banking system liquidity as a result of the currency exchange initiative has been massive, and it can reduce banks funding costs and thereby lead to a decline in bank lending rates. With a surge in bank deposits and waning demand for credit, the weighted average lending rate of banks on new loans declined by 56 basis points during November 2016 to January 2017. That said, even though the financial system is expected to weather the currency-exchange-induced temporary growth slowdown, the authorities should remain vigilant to risksn++in view of the potential further buildup of nonperforming loans, including among private banks and elevated corporate sector vulnerabilitiesn++and ensure prudent support to the affected economic sectors.

n++ Digitalization and de-cashing-The demonetization initiative can be seen as a follow-up to Indian authorities strong policy push toward greater financial inclusion. Over the past few years, 250 million previously unbanked Indians have been provided with a bank account, and more efficient customer identification is now in place, including with the rollout of a unique identification number (Aadhaar) and the adoption of know-your-customer technologies. More recently, an important technological milestone was the rollout of the Unified Payment Interface, which is an instant virtual fund that transfers service between two bank accounts using a mobile platform that was accompanied by the roll out of e-payment and point of-sale technologies. While the push for greater digitalization of the economy and the financial system is logical, large gaps

Japan Stocks eke out gain
May 09,2017

The Japan share market finished a seesaw session in positive territory on Tuesday, 16 May 2017, following record closes on US and European markets and a rally in oil prices. The Nikkei 225 index gained 0.25%, or 49.97 points, to finish at 19,919.82, while the Topix index of all first-section issues ticked 0.27%, or 4.23 points, higher to 1,584.23.

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Majesco reports consolidated net profit of Rs 2.54 crore in the March 2017 quarter
May 09,2017

Net profit of Majesco reported to Rs 2.54 crore in the quarter ended March 2017 as against net loss of Rs 1.97 crore during the previous quarter ended March 2016. Sales declined 12.51% to Rs 187.78 crore in the quarter ended March 2017 as against Rs 214.63 crore during the previous quarter ended March 2016.

For the full year,net profit rose 107.26% to Rs 14.28 crore in the year ended March 2017 as against Rs 6.89 crore during the previous year ended March 2016. Sales rose 9.97% to Rs 813.35 crore in the year ended March 2017 as against Rs 739.58 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales187.78214.63 -13 813.35739.58 10 OPM %6.961.27 -5.521.34 - PBDT14.073.10 354 48.3314.71 229 PBT7.05-0.66 LP 22.26-3.14 LP NP2.54-1.97 LP 14.286.89 107

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Carborundum Universal consolidated net profit rises 8.59% in the March 2017 quarter
May 09,2017

Net profit of Carborundum Universal rose 8.59% to Rs 44.36 crore in the quarter ended March 2017 as against Rs 40.85 crore during the previous quarter ended March 2016. Sales rose 10.48% to Rs 547.80 crore in the quarter ended March 2017 as against Rs 495.85 crore during the previous quarter ended March 2016.

For the full year,net profit rose 21.35% to Rs 174.87 crore in the year ended March 2017 as against Rs 144.10 crore during the previous year ended March 2016. Sales rose 8.52% to Rs 2080.04 crore in the year ended March 2017 as against Rs 1916.77 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales547.80495.85 10 2080.041916.77 9 OPM %17.9517.98 -17.0215.72 - PBDT89.4785.16 5 339.25307.92 10 PBT64.6363.78 1 242.77221.10 10 NP44.3640.85 9 174.87144.10 21

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Blue Star standalone net profit rises 91.48% in the March 2017 quarter
May 09,2017

Net profit of Blue Star rose 91.48% to Rs 32.57 crore in the quarter ended March 2017 as against Rs 17.01 crore during the previous quarter ended March 2016. Sales rose 17.17% to Rs 1292.52 crore in the quarter ended March 2017 as against Rs 1103.14 crore during the previous quarter ended March 2016.

For the full year,net profit declined 11.77% to Rs 111.97 crore in the year ended March 2017 as against Rs 126.90 crore during the previous year ended March 2016. Sales rose 16.48% to Rs 4112.09 crore in the year ended March 2017 as against Rs 3530.17 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1292.521103.14 17 4112.093530.17 16 OPM %4.874.83 -4.855.39 - PBDT61.1154.65 12 203.25178.05 14 PBT45.9639.50 16 148.28123.04 21 NP32.5717.01 91 111.97126.90 -12

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SREI Infrastructure Finance consolidated net profit rises 205.31% in the March 2017 quarter
May 09,2017

Net profit of SREI Infrastructure Finance rose 205.31% to Rs 62.71 crore in the quarter ended March 2017 as against Rs 20.54 crore during the previous quarter ended March 2016. Sales rose 39.46% to Rs 1103.01 crore in the quarter ended March 2017 as against Rs 790.90 crore during the previous quarter ended March 2016.

For the full year,net profit rose 235.58% to Rs 243.36 crore in the year ended March 2017 as against Rs 72.52 crore during the previous year ended March 2016. Sales rose 34.45% to Rs 4275.15 crore in the year ended March 2017 as against Rs 3179.82 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1103.01790.90 39 4275.153179.82 34 OPM %82.6680.13 -78.0481.87 - PBDT213.5467.92 214 724.61321.23 126 PBT98.8524.95 296 344.48105.94 225 NP62.7120.54 205 243.3672.52 236

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Sirhind Steel standalone net profit rises 26.29% in the March 2017 quarter
May 09,2017

Net profit of Sirhind Steel rose 26.29% to Rs 2.93 crore in the quarter ended March 2017 as against Rs 2.32 crore during the previous quarter ended March 2016. Sales rose 82.35% to Rs 2.17 crore in the quarter ended March 2017 as against Rs 1.19 crore during the previous quarter ended March 2016.

For the full year,net profit rose 140.10% to Rs 9.70 crore in the year ended March 2017 as against Rs 4.04 crore during the previous year ended March 2016. Sales rose 53.64% to Rs 4.64 crore in the year ended March 2017 as against Rs 3.02 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2.171.19 82 4.643.02 54 OPM %91.2480.67 -85.1380.46 - PBDT3.142.24 40 6.224.62 35 PBT3.102.18 42 6.054.38 38 NP2.932.32 26 9.704.04 140

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SREI Infrastructure Finance standalone net profit rises 43.29% in the March 2017 quarter
May 09,2017

Net profit of SREI Infrastructure Finance rose 43.29% to Rs 20.72 crore in the quarter ended March 2017 as against Rs 14.46 crore during the previous quarter ended March 2016. Sales declined 2.25% to Rs 446.40 crore in the quarter ended March 2017 as against Rs 456.67 crore during the previous quarter ended March 2016.

For the full year,net profit rose 67.37% to Rs 96.07 crore in the year ended March 2017 as against Rs 57.40 crore during the previous year ended March 2016. Sales rose 4.60% to Rs 1930.84 crore in the year ended March 2017 as against Rs 1845.84 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales446.40456.67 -2 1930.841845.84 5 OPM %92.9195.21 -84.3792.82 - PBDT46.0531.69 45 199.93132.98 50 PBT33.1319.33 71 148.3681.42 82 NP20.7214.46 43 96.0757.40 67

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Gujarat Bitumen standalone net profit declines 41.18% in the March 2017 quarter
May 09,2017

Net profit of Gujarat Bitumen declined 41.18% to Rs 0.10 crore in the quarter ended March 2017 as against Rs 0.17 crore during the previous quarter ended March 2016. Sales reported to Rs 1.55 crore in the quarter ended March 2017. There were no Sales reported during the previous quarter ended March 2016.

For the full year,net profit rose 175.00% to Rs 0.11 crore in the year ended March 2017 as against Rs 0.04 crore during the previous year ended March 2016. Sales rose 15400.00% to Rs 1.55 crore in the year ended March 2017 as against Rs 0.01 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1.550 0 1.550.01 15400 OPM %0.650 --2.58600.00 - PBDT0.160.19 -16 0.170.06 183 PBT0.150.19 -21 0.160.06 167 NP0.100.17 -41 0.110.04 175

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Majesco standalone net profit declines 98.03% in the March 2017 quarter
May 09,2017

Net profit of Majesco declined 98.03% to Rs 0.05 crore in the quarter ended March 2017 as against Rs 2.54 crore during the previous quarter ended March 2016. Sales declined 7.95% to Rs 3.36 crore in the quarter ended March 2017 as against Rs 3.65 crore during the previous quarter ended March 2016.

For the full year,net profit declined 61.84% to Rs 2.37 crore in the year ended March 2017 as against Rs 6.21 crore during the previous year ended March 2016. Sales rose 22.95% to Rs 15.27 crore in the year ended March 2017 as against Rs 12.42 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.363.65 -8 15.2712.42 23 OPM %-41.67-25.75 --62.08-40.58 - PBDT2.063.52 -41 4.9810.10 -51 PBT1.863.51 -47 4.179.87 -58 NP0.052.54 -98 2.376.21 -62

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