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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Shivamshree Businesses standalone net profit rises 700.00% in the March 2017 quarter
Jun 15,2017

Net profit of Shivamshree Businesses rose 700.00% to Rs 0.08 crore in the quarter ended March 2017 as against Rs 0.01 crore during the previous quarter ended March 2016. Sales rose 705.00% to Rs 1.61 crore in the quarter ended March 2017 as against Rs 0.20 crore during the previous quarter ended March 2016.

For the full year,net profit rose 650.00% to Rs 0.15 crore in the year ended March 2017 as against Rs 0.02 crore during the previous year ended March 2016. Sales rose 817.95% to Rs 7.16 crore in the year ended March 2017 as against Rs 0.78 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1.610.20 705 7.160.78 818 OPM %5.595.00 -2.653.85 - PBDT0.090.01 800 0.190.03 533 PBT0.080.01 700 0.180.03 500 NP0.080.01 700 0.150.02 650

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JRI Industries & Infrastructure standalone net profit declines 88.89% in the March 2017 quarter
Jun 15,2017

Net profit of JRI Industries & Infrastructure declined 88.89% to Rs 0.01 crore in the quarter ended March 2017 as against Rs 0.09 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 as against Rs 0.39 crore during the previous quarter ended March 2016.

For the full year,net profit declined 81.82% to Rs 0.02 crore in the year ended March 2017 as against Rs 0.11 crore during the previous year ended March 2016. Sales declined 91.60% to Rs 0.32 crore in the year ended March 2017 as against Rs 3.81 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales00.39 -100 0.323.81 -92 OPM %033.33 -9.384.20 - PBDT0.010.13 -92 0.030.16 -81 PBT0.010.13 -92 0.030.16 -81 NP0.010.09 -89 0.020.11 -82

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Rasoya Proteins reports standalone net loss of Rs 22.32 crore in the March 2017 quarter
Jun 15,2017

Net Loss of Rasoya Proteins reported to Rs 22.32 crore in the quarter ended March 2017 as against net loss of Rs 123.48 crore during the previous quarter ended March 2016. Sales rose 240.91% to Rs 27.58 crore in the quarter ended March 2017 as against Rs 8.09 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 24.27 crore in the year ended March 2017 as against net loss of Rs 313.57 crore during the previous year ended March 2016. Sales declined 52.09% to Rs 35.58 crore in the year ended March 2017 as against Rs 74.27 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales27.588.09 241 35.5874.27 -52 OPM %-16.86-1587.14 --10.23-290.21 - PBDT-4.50-127.03 96 -3.42-219.30 98 PBT-15.59-129.81 88 -17.54-231.42 92 NP-22.32-123.48 82 -24.27-313.57 92

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Encore Software reports consolidated net loss of Rs 0.34 crore in the March 2017 quarter
Jun 15,2017

Net loss of Encore Software reported to Rs 0.34 crore in the quarter ended March 2017 as against net profit of Rs 0.01 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.88 crore in the year ended March 2017 as against net profit of Rs 0.05 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 as against Rs 2.43 crore during the previous year ended March 2016.

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Triveni Enterprises reports standalone net loss of Rs 0.05 crore in the March 2017 quarter
Jun 15,2017

Net Loss of Triveni Enterprises reported to Rs 0.05 crore in the quarter ended March 2017 as against net loss of Rs 0.02 crore during the previous quarter ended March 2016. Sales declined 76.12% to Rs 0.16 crore in the quarter ended March 2017 as against Rs 0.67 crore during the previous quarter ended March 2016.

For the full year,net profit declined 83.33% to Rs 0.01 crore in the year ended March 2017 as against Rs 0.06 crore during the previous year ended March 2016. Sales declined 33.98% to Rs 8.80 crore in the year ended March 2017 as against Rs 13.33 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.160.67 -76 8.8013.33 -34 OPM %-56.25-4.48 --1.820.30 - PBDT-0.07-0.02 -250 0.010.10 -90 PBT-0.07-0.02 -250 0.010.10 -90 NP-0.05-0.02 -150 0.010.06 -83

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Tulsyan NEC reports standalone net loss of Rs 17.95 crore in the March 2017 quarter
Jun 15,2017

Net Loss of Tulsyan NEC reported to Rs 17.95 crore in the quarter ended March 2017 as against net loss of Rs 11.82 crore during the previous quarter ended March 2016. Sales declined 23.93% to Rs 164.85 crore in the quarter ended March 2017 as against Rs 216.71 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 81.85 crore in the year ended March 2017 as against net loss of Rs 28.66 crore during the previous year ended March 2016. Sales declined 35.92% to Rs 541.82 crore in the year ended March 2017 as against Rs 845.55 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales164.85216.71 -24 541.82845.55 -36 OPM %4.732.13 -6.978.71 - PBDT-31.50-11.11 -184 -78.62-11.20 -602 PBT-37.90-13.70 -177 -100.90-27.06 -273 NP-17.95-11.82 -52 -81.85-28.66 -186

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Sudal Industries reports standalone net loss of Rs 1.94 crore in the March 2017 quarter
Jun 15,2017

Net loss of Sudal Industries reported to Rs 1.94 crore in the quarter ended March 2017 as against net profit of Rs 3.62 crore during the previous quarter ended March 2016. Sales rose 40.59% to Rs 25.39 crore in the quarter ended March 2017 as against Rs 18.06 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 6.92 crore in the year ended March 2017 as against net loss of Rs 6.31 crore during the previous year ended March 2016. Sales rose 20.71% to Rs 84.15 crore in the year ended March 2017 as against Rs 69.71 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales25.3918.06 41 84.1569.71 21 OPM %5.472.71 -7.800.40 - PBDT-1.65-2.37 30 -5.77-11.47 50 PBT-1.94-2.76 30 -6.92-12.69 45 NP-1.943.62 PL -6.92-6.31 -10

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Kothari Petrochemicals standalone net profit declines 66.49% in the March 2017 quarter
Jun 15,2017

Net profit of Kothari Petrochemicals declined 66.49% to Rs 1.26 crore in the quarter ended March 2017 as against Rs 3.76 crore during the previous quarter ended March 2016. Sales rose 2.13% to Rs 65.16 crore in the quarter ended March 2017 as against Rs 63.80 crore during the previous quarter ended March 2016.

For the full year,net profit declined 36.38% to Rs 5.84 crore in the year ended March 2017 as against Rs 9.18 crore during the previous year ended March 2016. Sales rose 2.76% to Rs 219.48 crore in the year ended March 2017 as against Rs 213.59 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales65.1663.80 2 219.48213.59 3 OPM %4.869.48 -5.477.08 - PBDT3.556.57 -46 13.0816.99 -23 PBT2.715.90 -54 9.9814.25 -30 NP1.263.76 -66 5.849.18 -36

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Sidh Automobiles standalone net profit rises 62.50% in the March 2017 quarter
Jun 15,2017

Net profit of Sidh Automobiles rose 62.50% to Rs 0.13 crore in the quarter ended March 2017 as against Rs 0.08 crore during the previous quarter ended March 2016. Sales rose 2125.00% to Rs 0.89 crore in the quarter ended March 2017 as against Rs 0.04 crore during the previous quarter ended March 2016.

For the full year,net profit remain constant at Rs 0.01 crore in the year ended March 2017 and also during the previous year ended March 2016. Sales rose 2125.00% to Rs 0.89 crore in the year ended March 2017 as against Rs 0.04 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.890.04 2125 0.890.04 2125 OPM %6.7475.00 --6.74-100.00 - PBDT0.130.08 63 0.010.01 0 PBT0.130.08 63 0.010.01 0 NP0.130.08 63 0.010.01 0

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Encore Software reports standalone net loss of Rs 0.42 crore in the March 2017 quarter
Jun 15,2017

Net loss of Encore Software reported to Rs 0.42 crore in the quarter ended March 2017 as against net profit of Rs 0.39 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 2.44 crore in the year ended March 2017 as against net loss of Rs 1.50 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Reduced Liability of Tax on complex, building, flat etc. under GST
Jun 15,2017

The CBEC and States have received several complaints that in view of the works contract service tax rate under GST at 12% in respect of under construction flats, complex etc, the people who have booked flats and made part payment are being asked to make entire payment before 1st July 2017 or to face higher tax incidence for payment made after 1st July 2017. This is against the GST law. The issue is clarified as below:-

1. Construction of flats, complex, buildings will have a lower incidence of GST as compared to a plethora of central and state indirect taxes suffered by them under the existing regime.

2. Central Excise duty is payable on most construction material @12.5%. It is higher in case of cement. In addition, VAT is also payable on construction material @12.5% to 14.5% in most of the States. In addition, construction material also presently suffer Entry Tax levied by the States. Input Tax Credit of the above taxes is not currently allowed for payment of Service Tax. Credit of these taxes is also not available for payment of VAT on construction of flats etc. under composition scheme. Thus, there is cascading of input taxes on constructed flats, etc.

3. As a result, incidence of Central Excise duty, VAT, Entry Tax, etc. on construction material is also currently borne by the builders, which they pass on to the customers as part of the price charged from them. This is not visible to the customer as it forms a part of the cost of the flat.

4. The current headline rate of service tax on construction of flats, residences, offices etc. is 4.5%. Over and above this, VAT @1% under composition scheme is also charged. The buyer only looks at the headline rate of 5.5%. In other cities/states, where VAT is levied under the composition scheme @2% or above, the headline rate visible to the customer is above 6.5%. What the customer does not see is the embedded taxes on account of cascading and sticking of input taxes in the cost of the flat, etc.

5. This will change under GST. Under GST, full input credit would be available for offsetting the headline rate of 12%. As a result, the input taxes embedded in the flat will not (& should not) form a part of the cost of the flat. The input credits should take care of the headline rate of 12% and it is for this reason that refund of overflow of input tax credits to the builder has been disallowed.

6. The builders are expected to pass on the benefits of lower tax burden under the GST regime to the buyers of property by way of reduced prices/ installments. It is, therefore, advised to all builders / construction companies that in the flats under construction, they should not ask customers to pay higher tax rate on instalments to be received after imposition of GST.

7. Despite this clarity on law position, if any builder resorts to such practice, the same can be deemed to be profiteering under section 171 of GST law.

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Rupee retreats
Jun 15,2017

Rupee closed lower at 64.62/6275 per dollar on Thursday (15 June 2017), versus its previous close of 64.4075/4100 per dollar.

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Board of Rajvir Industries approves sale of fixed assets
Jun 15,2017

The Board of Directors of Rajvir Industries at its meeting held on 15 June 2017 has approved the sale of fixed Assets subject to the approval of the shareholders pertaining to the unit of the company situated at Gopannapally (Village), Tandur Mandal Ranga Reddy District Telangana - 501141, and/or surplus open land available with the Company, to Any Person / Body Corporate / Related Party in the beneficial interests of the company.

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Great Eastern Shipping Company acquires vessel
Jun 15,2017

Great Eastern Shipping Company has taken delivery of a Secondhand Medium Range Product Tanker Jag Pavitra (2008 Built) of about 51,464 dwt. The Company had contracted to buy the vessel in April 2017.

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Chamanlal Setia Exports announces change in corporate office
Jun 15,2017

Chamanlal Setia Exports has shifted its corporate office from No 2, IInd Floor, Club Drive Road, M.G Road, Ghitorni, New Delhi to No. 472, Udyog Vihar, Phase III, Gurgaon -122001.

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