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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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Supreme Petrochem standalone net profit rises 28.62% in the March 2017 quarter
Apr 27,2017

Net profit of Supreme Petrochem rose 28.62% to Rs 69.89 crore in the quarter ended March 2017 as against Rs 54.34 crore during the previous quarter ended March 2016. Sales rose 6.33% to Rs 860.42 crore in the quarter ended March 2017 as against Rs 809.17 crore during the previous quarter ended March 2016.

For the full year,net profit rose 214.48% to Rs 179.41 crore in the year ended March 2017 as against Rs 57.05 crore during the previous year ended March 2016. Sales rose 41.63% to Rs 2898.62 crore in the year ended March 2017 as against Rs 2046.56 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales860.42809.17 6 2898.622046.56 42 OPM %13.0310.82 -10.265.07 - PBDT114.3886.61 32 300.07101.90 194 PBT109.4080.97 35 277.8584.85 227 NP69.8954.34 29 179.4157.05 214

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Foseco India standalone net profit declines 14.18% in the March 2017 quarter
Apr 27,2017

Net profit of Foseco India declined 14.18% to Rs 7.20 crore in the quarter ended March 2017 as against Rs 8.39 crore during the previous quarter ended March 2016. Sales rose 11.48% to Rs 87.69 crore in the quarter ended March 2017 as against Rs 78.66 crore during the previous quarter ended March 2016.

ParticularsQuarter Endedn++Mar. 2017Mar. 2016% Var. Sales87.6978.66 11 OPM %13.2217.62 - PBDT12.0814.21 -15 PBT10.7813.01 -17 NP7.208.39 -14

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Lakshmi Vilas Bank standalone net profit rises 6.30% in the March 2017 quarter
Apr 27,2017

Net profit of Lakshmi Vilas Bank rose 6.30% to Rs 52.16 crore in the quarter ended March 2017 as against Rs 49.07 crore during the previous quarter ended March 2016. Total Operating Income rose 10.09% to Rs 733.56 crore in the quarter ended March 2017 as against Rs 666.33 crore during the previous quarter ended March 2016.

For the full year,net profit rose 42.07% to Rs 256.07 crore in the year ended March 2017 as against Rs 180.24 crore during the previous year ended March 2016. Total Operating Income rose 10.84% to Rs 2846.66 crore in the year ended March 2017 as against Rs 2568.30 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Total Operating Income733.56666.33 10 2846.662568.30 11 OPM %60.5971.16 -68.2071.98 - PBDT70.1673.07 -4 380.07230.24 65 PBT70.1673.07 -4 380.07230.24 65 NP52.1649.07 6 256.07180.24 42

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LKP Finance reports standalone net profit of Rs 3.46 crore in the March 2017 quarter
Apr 27,2017

Net profit of LKP Finance reported to Rs 3.46 crore in the quarter ended March 2017 as against net loss of Rs 1.00 crore during the previous quarter ended March 2016. Sales rose 6.55% to Rs 12.03 crore in the quarter ended March 2017 as against Rs 11.29 crore during the previous quarter ended March 2016.

For the full year,net profit rose 13.53% to Rs 10.07 crore in the year ended March 2017 as against Rs 8.87 crore during the previous year ended March 2016. Sales declined 4.19% to Rs 43.88 crore in the year ended March 2017 as against Rs 45.80 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales12.0311.29 7 43.8845.80 -4 OPM %76.3950.40 -60.3258.43 - PBDT4.25-0.58 LP 12.7111.96 6 PBT4.20-0.60 LP 12.5711.87 6 NP3.46-1.00 LP 10.078.87 14

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Sadhana Nitro Chem standalone net profit rises 63.44% in the March 2017 quarter
Apr 27,2017

Net profit of Sadhana Nitro Chem rose 63.44% to Rs 1.52 crore in the quarter ended March 2017 as against Rs 0.93 crore during the previous quarter ended March 2016. Sales rose 73.36% to Rs 19.26 crore in the quarter ended March 2017 as against Rs 11.11 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 2.26 crore in the year ended March 2017 as against net loss of Rs 4.84 crore during the previous year ended March 2016. Sales rose 61.58% to Rs 55.73 crore in the year ended March 2017 as against Rs 34.49 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales19.2611.11 73 55.7334.49 62 OPM %11.8421.69 -12.674.49 - PBDT2.031.44 41 4.18-2.84 LP PBT1.520.93 63 2.26-4.84 LP NP1.520.93 63 2.26-4.84 LP

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Sterlite Technologies consolidated net profit rises 19.26% in the March 2017 quarter
Apr 27,2017

Net profit of Sterlite Technologies rose 19.26% to Rs 68.67 crore in the quarter ended March 2017 as against Rs 57.58 crore during the previous quarter ended March 2016. Sales rose 15.19% to Rs 700.54 crore in the quarter ended March 2017 as against Rs 608.17 crore during the previous quarter ended March 2016.

For the full year,net profit rose 36.25% to Rs 217.71 crore in the year ended March 2017 as against Rs 159.79 crore during the previous year ended March 2016. Sales rose 14.22% to Rs 2448.85 crore in the year ended March 2017 as against Rs 2143.99 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales700.54608.17 15 2448.852143.99 14 OPM %23.1922.34 -21.1921.42 - PBDT141.22109.01 30 419.43356.14 18 PBT96.7370.92 36 260.20230.54 13 NP68.6757.58 19 217.71159.79 36

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KPIT Technologies consolidated net profit declines 42.06% in the March 2017 quarter
Apr 27,2017

Net profit of KPIT Technologies declined 42.06% to Rs 53.73 crore in the quarter ended March 2017 as against Rs 92.73 crore during the previous quarter ended March 2016. Sales rose 2.00% to Rs 857.57 crore in the quarter ended March 2017 as against Rs 840.72 crore during the previous quarter ended March 2016.

For the full year,net profit declined 15.08% to Rs 238.54 crore in the year ended March 2017 as against Rs 280.90 crore during the previous year ended March 2016. Sales rose 2.97% to Rs 3320.05 crore in the year ended March 2017 as against Rs 3224.29 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales857.57840.72 2 3320.053224.29 3 OPM %10.1515.73 -10.5013.47 - PBDT88.25136.10 -35 355.69445.88 -20 PBT63.46118.14 -46 273.03376.75 -28 NP53.7392.73 -42 238.54280.90 -15

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Axis Bank standalone net profit declines 43.13% in the March 2017 quarter
Apr 27,2017

Net profit of Axis Bank declined 43.13% to Rs 1225.10 crore in the quarter ended March 2017 as against Rs 2154.28 crore during the previous quarter ended March 2016. Total Operating Income rose 2.47% to Rs 11168.15 crore in the quarter ended March 2017 as against Rs 10898.96 crore during the previous quarter ended March 2016.

For the full year,net profit declined 55.26% to Rs 3679.28 crore in the year ended March 2017 as against Rs 8223.66 crore during the previous year ended March 2016. Total Operating Income rose 8.67% to Rs 44542.16 crore in the year ended March 2017 as against Rs 40988.04 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Total Operating Income11168.1510898.96 2 44542.1640988.04 9 OPM %46.7463.15 -45.4166.31 - PBDT1793.493230.20 -44 5467.5612393.75 -56 PBT1793.493230.20 -44 5467.5612393.75 -56 NP1225.102154.28 -43 3679.288223.66 -55

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GIC Housing Finance standalone net profit rises 29.94% in the March 2017 quarter
Apr 27,2017

Net profit of GIC Housing Finance rose 29.94% to Rs 46.61 crore in the quarter ended March 2017 as against Rs 35.87 crore during the previous quarter ended March 2016. Sales rose 14.12% to Rs 266.02 crore in the quarter ended March 2017 as against Rs 233.10 crore during the previous quarter ended March 2016.

For the full year,net profit rose 18.66% to Rs 147.73 crore in the year ended March 2017 as against Rs 124.50 crore during the previous year ended March 2016. Sales rose 14.38% to Rs 1000.21 crore in the year ended March 2017 as against Rs 874.44 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales266.02233.10 14 1000.21874.44 14 OPM %89.4290.27 -89.5590.64 - PBDT71.6255.21 30 227.80191.93 19 PBT71.4154.98 30 227.10191.11 19 NP46.6135.87 30 147.73124.50 19

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KPIT Technologies standalone net profit declines 58.36% in the March 2017 quarter
Apr 27,2017

Net profit of KPIT Technologies declined 58.36% to Rs 28.39 crore in the quarter ended March 2017 as against Rs 68.18 crore during the previous quarter ended March 2016. Sales declined 1.74% to Rs 321.07 crore in the quarter ended March 2017 as against Rs 326.74 crore during the previous quarter ended March 2016.

For the full year,net profit declined 16.68% to Rs 169.29 crore in the year ended March 2017 as against Rs 203.17 crore during the previous year ended March 2016. Sales rose 4.57% to Rs 1319.56 crore in the year ended March 2017 as against Rs 1261.86 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales321.07326.74 -2 1319.561261.86 5 OPM %14.5324.23 -19.8523.04 - PBDT47.5281.69 -42 269.38307.75 -12 PBT27.1666.42 -59 198.24249.38 -21 NP28.3968.18 -58 169.29203.17 -17

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ASSOCHAM advocates MAT exemption for sick companies under debt restructuring
Apr 27,2017

Apex Industry body ASSOCHAM has advocated continuation of the exemption from MAT (Minimum Alternative Tax) by the insertion of a suitable substitution of or addition to the Income Tax Act in respect of the restructuring under the insolvency & banking code 2016.

In a note submitted to the Chairman CBDT (Central Board of Direct Taxes) Mr. Sushil Chandra, ASSOCHAM has stated that in the absence of a provision for exemption from MAT for such a company, any Resolution Plan for revival of the Company whether under IBC or (Section 230) of Companies Act shall become unworkable and unviable due to the huge and immediate cash flow required to meet the corporate tax liability payable immediately under MAT and the company would hardly be in a situation requiring debt restructuring.

The intent of the legislature in introducing the new Insolvency & Bankruptcy Code, 2016 was clearly to provide an effective mechanism for time bound resolution of indebtedness issues for financially distressed companies which have been adequately highlighted when government taxes were given lower priority during liquidation waterfall mechanism.

Therefore, under the provisions of the IBC, 2016, a Company must obtain approval of its Resolution Plan from NCLT under Section 31 of the IBC within 180 days, extendable by further 90 days maximum, failing which the liquidation process shall be initiated.

ASSOCHAM feels, a resolution plan in most such cases shall always involve sacrifices from all stakeholders - promoters, creditors etc. The sacrifice from the creditors by way of waiver of certain loans and/or interest shall therefore result in notional profits appearing in the books of accounts of such distressed companies. Unless otherwise exempted, such distressed companies may fail in their Resolution Plan simply due to the high tax liability that shall accrue upon them on account of MAT while continuing to be under turnaround process and stressed for liquidity.

ASSOCHAM has suggested that addition of the amount of profits of a company with negative net-worth pertaining to the reduction in debt by its creditors for the Assessment Year commencing on and from be Assessment Year in which the Adjudicating Authority i.e. NCLT approves a Resolution Plan under section 31 of Insolvency & Bankruptcy Code, 2016 and ending with the Assessment Year during which the entire Net Worth of the Company becomes equal to or exceeds the accumulated losses.

The amount of profits of a Company with negative net-worth pertaining to the reduction in debt by its creditors for the Assessment Year commencing on and from the Assessment Year in which the Adjudicating Authority i.e. NCLT approves the Scheme for Compromise and/ or Rearrangement with the creditors is sanctioned by NCLT under section 230 of the Companies Act, and ending with the Assessment Year during which the entire Net Worth of the Company becomes equal to or exceeds the accumulated losses.

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Foseco India declines after weak Q1 results
Apr 27,2017

The result was announced after market hours yesterday, 26 April 2017.

Meanwhile, the S&P BSE Sensex was down 74.82 points or 0.25% at 30,058.53. The S&P BSE Small-Cap index was up 11.07 points or 0.07% at 15,293.73.

On the BSE, 797 shares were traded on the counter so far as against the average daily volumes of 518 shares in the past one quarter. The stock had hit a high of Rs 1,405 and a low of Rs 1,360 so far during the day.

The stock had hit a 52-week high of Rs 1,570 on 20 October 2016 and a 52-week low of Rs 1,233 on 22 December 2016. It had outperformed the market over the past one month till 26 April 2017, advancing 6.94% compared with the Sensexs 2.42% rise. The scrip had also outperformed the market over the past one quarter, gaining 10% as against the Sensexs 8.75% rise.

The small-cap company has equity capital of Rs 6.39 crore. Face value per share is Rs 10.

Foseco India offers the widest range of solutions for producing casting of the highest standards in terms of quality, surface finish, soundness, integrity and dimensional tolerance.

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GIC Housing Finance hits record high after good Q4 results
Apr 27,2017

The result was announced after market hours yesterday, 26 April 2017.

Meanwhile, the S&P BSE Sensex was down 58.41 points, or 0.19%, to 30,074.94. The S&P BSE Small-Cap index was up 12.05 points, or 0.08%, to 15,294.71.

On the BSE, 34,616 shares were traded in the counter so far, compared with an average volume of 44,387 shares in the past one quarter. The stock had hit a high of Rs 524.90 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 509.80 so far during the day. The stock had hit a 52-week low of Rs 250 on 24 May 2016.

The stock had outperformed the market over the past one month till 26 April 2017, surging 40.57% compared with the Sensexs 2.42% rise. The scrip had also outperformed the market over the past one quarter, jumping 71.77% as against the Sensexs 8.75% rise.

The small-cap company has an equity capital of Rs 53.85 crore. Face value per share is Rs 10.

GIC Housing Finances board recommended a dividend of Rs 5 per share for the year ended 31 March 2017.

The companys board has also approved the increase in the borrowing powers of the company from Rs 10000 crore to 12500 crore. The board revised the limit of raising funds by issue of redeemable non-convertible debentures (NCDs)/bonds through private placement basis upto Rs 800 crore. The board also approved for related party transactions of upto Rs 1000 crore.

GIC Housing Finance provides housing loans to both individuals and corporations.

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Government revamps jobs on compassionate ground for Gramin Dak Sevaks
Apr 27,2017

Department of Posts has revamped the existing compassionate engagement scheme offered to the dependent family members of Gramin Dak Sevak. A GDS who dies in harness, the dependents of such GDS will benefit from a liberalized and time bound procedure for engagement on compassionate grounds. Henceforth, any death of a Gramin Dak Sevak while on engagement would be compensated by a compassionate engagement to a dependent family member irrespective of the circumstances or indigence. Upper age limit of the applicant could also be relaxed wherever found to be necessary. Thus the new scheme of compassionate engagement will provide greater relief to the members of the family of the deceased GDS who belong to weaker and poorer sections of the society and are thrown into penury and hardship.

The ambit of dependent family member has also been expanded to include:

n++Married son living with parents and dependent for livelihood on the GDS on the date of death of the GDS

n++Divorced daughter wholly dependent on the GDS at the time of death of the GDS

n++Daughter in law of the deceased GDS who is wholly dependent on the GDS, if the only son of the GDS is pre deceased.

This expansion of definition of family members aims to bring greater relief to women in our society who are subjected to difficult circumstances in the unfortunate event of demise of their spouse/parent.

The present system of relative merit points to ascertain the degree of indigence has been dispensed with. Keeping in view the unique and distinct service conditions, socio economic aspects and to relieve the family from financial destitution, the time consuming process of consideration by Circle Relaxation Committee has been done away with. Henceforth, a request received for compassionate engagement would be considered and decided within three months from the date of receipt of the application.

Further to ensure least displacement, it has been decided that to the extent possible, compassionate engagement would be offered to the dependent of the deceased GDS, to a GDS post near the place where the family of the deceased normally resides.

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Strong Q4 earnings boost Tata Sponge Iron
Apr 27,2017

The result was announced after market hours yesterday, 26 April 2017.

Meanwhile, the S&P BSE Sensex was down 36.95 points or 0.12% at 30,096.40. The S&P BSE Small-Cap index was up 17.40 points or 0.11% at 15,300.06.

On the BSE, 1.11 lakh shares were traded on the counter so far as against the average daily volumes of 85,704 shares in the past one quarter. The stock was volatile. It surged as much as 4.56% at the days high of Rs 871.85 so far during the day. It rose 0.59% at the days low of Rs 838.80 so far during the day.

The stock had hit a 52-week high of Rs 900 on 11 April 2017 and a 52-week low of Rs 474.95 on 9 November 2016. It had outperformed the market over the past one month till 26 April 2017, advancing 22.69% compared with the Sensexs 2.42% rise. The scrip had also outperformed the market over the past one quarter, gaining 34.17% as against the Sensexs 8.75% rise.

The small-cap company has equity capital of Rs 15.40 crore. Face value per share is Rs 10.

Tata Sponge Iron is a sponge iron manufacturer. Tata Steel is the promoter of Tata Sponge Iron. Tata Steel owned 54.5% stake in the company end March 2017.

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