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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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InterGlobe Aviation slumps after weak Q3 results
Feb 01,2017

The result was announced after market hours yesterday, 31 January 2017.

Meanwhile, the S&P BSE Sensex was down 28.05 points or 0.1% at 27,627.91.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 25,063 shares in the past one quarter. The stock had hit a high of Rs 869.60 and a low of Rs 825 so far during the day.

The stock had hit a 52-week high of Rs 1,095.40 on 5 May 2016 and a record low of Rs 702 on 11 February 2016. The stock had outperformed the market over the past one month till 31 January 2017, advancing 9.7% compared with the Sensexs 3.87% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 3.77% as against the Sensexs 0.98% fall.

The large-cap company has equity capital of Rs 364.58 crore. Face value per share is Rs 10.

InterGlobe Aviations passenger revenue rose 16.1% to Rs 4369 crore in Q3 December 2016 over Q3 December 2015. Ancillary revenue grew by 12.5% to Rs 579.32 crore in Q3 December 2016 over Q3 December 2015.

The companys earnings before interest, taxation, depreciation, amortization and rent (EBITDAR) fell 12.9% to Rs 1460.54 crore in Q3 December 2016 over Q3 December 2015. EBITDAR margin contracted to 29.3% in Q3 December 2016, from 39% in Q3 December 2015.

InterGlobe Aviation expects fleet of 133 at the end of FY 2017. It expects available seat km (ASK) increase of 25% year-on-year in Q4 March 2017.

IndiGo had a total cash balance of Rs 8455 crore comprising of Rs 3786.50 crore of free cash and Rs 4668.50 crore of restricted cash as on 31 December 2016. The total debt as on 31 December 2016 was Rs 2746.60 crore. The entire debt of IndiGo is aircraft related. IndiGo does not have any working capital debt.

InterGlobe Aviations President and whole-time director Aditya Ghosh said, the airliner expects robust traffic growth ahead and it will continue to grow and strengthen its network with a view to maximizing its long term profitability.

InterGlobe Aviation is the operator of low cost passenger airline IndiGo.

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Precious Trading & Investments to consider December quarter results
Feb 01,2017

Precious Trading & Investments announced that a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, to consider the unaudited financial results for the quarter ended on 31 December 2016.

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South Indian Bank allots 3,89,657 equity shares
Feb 01,2017

South Indian Bank announced that the Nomination and Remuneration Committee of the Board by a resolution passed on 01 February 2016 has allotted 3,89,657 Equity Shares of face value Re.1/- each pursuant to exercise of options granted under the South Indian Bank Employees Stock Option Scheme (SIB ESOS - 2008). Post the above allotment, the paid-up Equity share capital of the Bank would stand at Rs. 135,21,27,907/- consisting of 135,21,27,907 Equity shares of Re.1/- each.

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JBM Auto to consider Q3 and 9M results
Feb 01,2017

JBM Auto announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, primarily to consider the Un-audited Financial Results of the Company for the 3rd quarter and 9 months period ended on 31 December 2016.

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Board of Omansh Enterprises to consider Q3 and 9M results
Feb 01,2017

Omansh Enterprises announced the meeting of the Board of Directors of the Company will be held on 11 February 2017, to consider and take on record the Un-Audited Financial Results of the Company for the Quarter/nine months ended 31 December 2016.

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Multi Commodity Exchange of India inaugurates its new office
Feb 01,2017

Multi Commodity Exchange of India has inaugurated its new office at GIFT City, Gandhinagar. The office admeasuring over 22,600 sq ft. will house the Exchanges Business Continuity and Disaster Recovery centre and a training and education facility.

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Board of GSL Securities approves change in directorate
Feb 01,2017

GSL Securities announced that Board of Directors taken on record the resignation of Vijay Kumar Lahoti, Director of the Company w.e.f. 08 November 2016 and appointment of Satyanarayan Parmanand Kabra were appointed as an additional Director w.e.f. 08 November 2016.

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Wipro Gallagher Solutions partners with Veri-Tax LLC
Feb 01,2017

Wipro announced that Wipro Gallagher Solutions has entered into partnership with Veri-Tax LLC, a leading national verification provider, to streamline verification solutions.

The partnership between Wipro Gallagher Solutions, the provider of the NetOxygen Loan Origination System and Veri-Tax LLC will help lenders mitigate identity fraud, accelerate processing and improve the customers experience seamlessly and electronically.

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Great Eastern Shipping Company provides update on subsidiary - Greatship (India)
Feb 01,2017

Great Eastern Shipping Company announced that the Board of Directors of Greatship (India), wholly owned-subsidiary of the Company, at its meeting held on 31 January 2017 approved a rationalization of its manner of holding overseas assets through foreign subsidiary. The restructuring would be subject to all requisite statutory approvals.

Further to the decision of the Board of Directors at their meeting held on 06 January 2017, to acquire full ownership of Greatship Global Energy Services (GGES), the Board has further decided to acquire full ownership of the jack up rigs of GGES.

The aforesaid re-structuring is expected to have only a very marginal (if any) impact on cash flow.

The proposed re-structuring does not offer any benefit to the promoters, promoter group companies in any way.

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TCS achieves Oracle Cloud Elite Designation
Feb 01,2017

Tata Consultancy Services has achieved the Oracle Cloud Elite designation within the Oracles PartnerNetwork Cloud Program.

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Sobha acquires shares in Sobha Highrise Ventures
Feb 01,2017

Sobha announced that it has acquired 10,300,000 equity shares held by Winona SA Investments LLC in Sobha Highrise Ventures, a joint venture between the Company and Winono SA Investments LLC, for a total consideration of Rs 34.68 crore. With this acquisition, Sobha Highrise Ventures has become a wholly owned subsidiary of Sobha.

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Sasken Communication Technologies director resigns
Feb 01,2017

Sasken Communication Technologies announced Dr. Ashok Jhunjhunwala, an Independent Director has resigned from the Board of Directors of the Company effective 30 January 2017.

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State Bank of Bikaner and Jaipur revises MCLR rates
Feb 01,2017

State Bank of Bikaner and Jaipur has revised the MCLR rates with effect from 01 February 2017 as under -

Overnight - 8.20%
One month - 8.30%
Three month - 8.40%
Six month - 8.50%
One year - 8.60%
Two year - 8.70%
Three year - 8.80%

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Board of MphasiS approves proposal to buyback shares aggregating Rs 1103 crore
Feb 01,2017

MphasiS announced that the Board of Directors (Board) of the Company, at its meeting held on 31 January 2017, inter-alia, approved a proposal for Buy-back of equity shares (Buy-back) from all the existing shareholders of the Company on a proportionate basis through the Tender Offer method in accordance with the provisions of Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998 (the Buy-back Regulations) and the Companies Act, 2013 and rules made thereunder at a maximum price of Rs.635 per equity share, aggregating to an amount not exceeding Rs.1103 crore, excluding any expenses incurred or to be incurred in relation to the Buy-back viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty, advisors fees, printing and dispatch expenses and other incidental and related expenses. The resultant shares to be bought back with the maximum price is 17,370,078 equity shares of Rs.10 each (representing 8.26 % of the total paid up equity share capital of the Company). The Board noted the intention of the Promoter of the Company to participate in the proposed Buy-back. The Buy-back would be subject to approval of the shareholders of the Company by way of a special resolution through postal ballot and all other applicable statutory approvals.

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ONGC inches up after strong Q3 results
Feb 01,2017

The announcement was made after market hours yesterday, 31 January 2017.

Meanwhile, the S&P BSE Sensex was down 3.40 points or 0.01% at 27,652.56.

On the BSE, 1.04 lakh shares were traded on the counter so far as against the average daily volumes of 6.90 lakh shares in the past one quarter. The stock had hit a high of Rs 205.50 and a low of Rs 202.80 so far during the day.

The stock had hit a 52-week high of Rs 212 yesterday, 31 January 2017 and a 52-week low of Rs 125.33 on 12 February 2016. The stock had outperformed the market over the past one month till 31 January 2017, advancing 5.59% compared with the Sensexs 3.87% rise. The scrip had also outperformed the market over the past one quarter, gaining 4.58% as against the Sensexs 0.98% fall.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGC will be investing $66.05 million or Rs 474.15 crore towards development of North West B-173A field to enhance production from its Western offshore. The investment decision was approved by the ONGCs board yesterday, 31 January 2017. The production is expected to commence from February 2019 and peak production rate of 2,870 barrels of oil per day (BOPD) of oil and 56,350 M3/day of gas is expected to be achieved in 2019-20. The cumulative production till 2031-32 is pegged at 0.76 million metric tonnes (MMT) of oil & 0.213 billion cubic metres (BCM) of gas.

ONGC is Indias largest oil and gas exploration firm by sales. The Government of India held 68.93% stake in ONGC as per the shareholding pattern as on 31 December 2016.

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