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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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Bharat Forge hikes its stake in Khed Economic Infrastructure
May 25,2017

Bharat Forge announced that the Company has subscribed to the equity shares and got allotment pursuant to the Rights Issue of 1,73,16,308 equity shares of Rs. 10/- each fully paid-up made by Khed Economic Infrastructure (KEIPL). The Company, prior to the said right issue, was holding 5% of the paid up equity share capital of KEIPL. Considering future business initiatives of the Company, the Company had subscribed to the additional 1,59,11,782 equity shares of Rs. 10/- each fully paid up in the said rights issue over and above its rights entitlement. Consequent to this subscription to the rights issue, Companys shareholding in KEIPL has increased from 5% to 8.54%.

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Bodhtree Consulting announces resignation of director
May 25,2017

Bodhtree Consulting announced that Kommineni Srinivasa Rao, Director has submitted his Resignation letter which was received and acknowledged by the Managing Director w.e.f. 25 May, 2017.

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Stellar Capital Services announces resignation of CFO
May 25,2017

Stellar Capital Services announced that Sushma Aggarwal, Chief Financial Officer (CFO) of the Company has resigned from her duties w.e.f. 25 May 2017.

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Infosys announces strategic alliance with HP Inc.
May 25,2017

Infosys and HP Inc. launched joint Retail Point of Sale (RPOS) and Enterprise Device as a Service (DaaS) solutions to help businesses accelerate digital transformation as part of the HP Global System Integrator (GSI) Alliance Program.

The joint RPOS solution offers a digital approach across the supply chain, enabling real-time collaboration between shoppers, retailers and vendors at the point of purchase, providing a true omnichannel experience. The joint Enterprise Device as a Service solution defines and delivers technologyenabled transformations that optimize how organizations acquire, manage and use devices with endto- end services, enterprise applications, fleet reporting, analytics, insights and more.

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Quantum Digital Vision India provides business update
May 25,2017

Quantum Digital Vision India has entered into a strategic joint venture with various entities - to develop properties, to clear legal hurdles, title encroachments, boundaries cleared free from encroachments and level the land from rocks or land filling. This will enable the land to be more marketable. Most of the land is situated in rural areas and small portion of the land is in town and villages.

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Dr Reddys Laboratories intimates of successful inspection of its formulations Srikakulum Plant Unit II
May 25,2017

Dr Reddys Laboratories announced that the audit of its formulations Srikakulum Plant (SEZ) Unit II, Andhra Pradesh by the USFDA, has been completed on 25 May 2017 with zero observations.

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Visaka Industries announces demise of director
May 25,2017

Visaka Industries announced the sad demise of Nagam Krishna Rao, Non-Executive Director, who left for his heavenly abode on 25 May 2017.

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Bank of Baroda redeems Upper Tier II Subordinates Notes listed on Singapore Stock Exchange
May 25,2017

Bank of Baroda announced that the Bank has fully redeemed all outstanding Notes in an aggregate principal amount of USD 300,000,000 Upper Tier II Subordinate Notes listed with Singapore Stock Exchanges under Medium Term Note Programme on 25 May 2017.

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Zodiac-JRD-MKJ appoints director
May 25,2017

Zodiac-JRD-MKJ announced the appointment of Jayesh Kadakia as Additional Independent Non Executive Director of the Company in the Board Meeting held on 25 May 2017.

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Board of Lux Industries approves investment in 100% shares in Artimas Fashions
May 25,2017

The Board of Lux Industries at its meeting held on 25 May 2017 has approved investment in 100% shares of Artimas Fashions.

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L T Foods allots 112,910 equity shares
May 25,2017

L T Foods has allotted 112,910 equity shares under ESOP. Consequently, the paid up equity shares has increased to 2,66,744,780 equity shars of Re 1 each aggregating Rs 26.67 crore.

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Board of Lypsa Gems & Jewellery approves bonus issue
May 25,2017

Lypsa Gems & Jewellery announced that the following Outcome of the Meeting of the Board of Directors held on 25 May 2017 :

- The board approves Issue of bonus shares in the ratio of 2:5 (i.e. two equity shares as bonus for every 5 equity shares held) subject to approval of share holders in the forthcoming Annual General Meeting/Extra Ordinary General Meeting.

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Britannia Industries to pay dividend
May 25,2017

Britannia Industries announced that dividend, if approved will be paid on or before 19 August 2017.

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Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder
May 25,2017

Proposed GST Tax rates would be much lesser than the prevailing incidence of taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder. Details in this regard are as follows:

1. Sugar: Sugar attracts specific central excise duty of Rs.71 per quintal plus Sugar Cess of Rs.124 per quintal, which translates to ad valorem rate of more than 6%. Including incidence on account of account of CST, octroi, and entry tax etc., the present total tax incidence would work out to more than 8%. As against this, the proposed GST rate on sugar is only 5% i.e. 3% less than present incidence of taxes.

2. Tea and coffee (other than instant coffee): Tea and coffee attract Nil central excise duty and VAT rate of 5%. Considering embedded taxes in production of tea and coffee and the incidence on account of CST, octroi and entry tax etc., the present total tax incidence works out to more than 7%. As against this, the proposed GST rate for tea and coffee (other than instant coffee) is only 5%.

3. Milk powder: Milk powder attracts Nil central excise duty and 5% VAT. Considering embedded taxes in production of milk powder and the incidence on account of CST, octroi, and entry tax etc., the present total tax incidence works out to more than 7%. As against this, the proposed GST rate on milk powder is only 5%.

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Rupee surges
May 25,2017

Rupee rose to close higher at 64.6250/6275 per dollar on Thursday (25 May 2017), versus its previous close of 64.7650/7725 per dollar. A broad weakness of the U.S. Dollar against a basket of currencies owing to the U.S. Feds FOMC minutes hinting at a gradual cautious rate hike in June led to the Indian greenbacks surge.

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