GVK Power Q2 cons net loss at Rs 43.6 cr

GVK Power has announced its second quarter results. The company's Q2 consolidated net loss at Rs 43.6 crore versus profit of Rs 38 crore, year-on-year, YoY.

Its consolidated net sales were up at Rs 640.3 crore versus Rs 477.4 crore, YoY.

It’s consolidated other income was up at Rs 32.7 crore versus Rs 13.9 crore, YoY.

Source: www.moneycontrol.com

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KS Oils Q2 net loss at Rs 101.8 cr

KS Oils has announced its second quarter results. The company's Q2 net loss at Rs 101.8 crore versus loss of Rs 263 crore, year-on-year, YoY.

Its total income from operations was down at Rs 667.8 crore versus Rs 860 crore, YoY.

Source: www.moneycontrol.com

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Essar Oil Q2 net profit at Rs 105cr

Essar Oil has announced its second quarter results. The company's Q2 net profit was at Rs 105 crore versus loss of Rs 166 crore, year-on-year, YoY.

Its net sales were up at Rs 20,963 crore versus Rs 12,939 crore, YoY.

Source: www.moneycontrol.com

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Lovable Lingerie Q2 net profit down at Rs 4.3cr

Lovable Lingerie  has announced its second quarter results. The company Q2 net profit was down at Rs 4.3 crore versus Rs 4.6 crore, year-on-year, YoY.

Its net sales were up at Rs 40 crore versus Rs 34.4 crore, YoY.

Source: www.moneycontrol.com

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BEML Q2 net loss at Rs 62.4cr

BEML has announced its second quarter results. The company's Q2 net loss was at Rs 62.4 crore versus profit of Rs 15.3 crore, year-on-year, YoY.

It net sales were down at Rs 581 crore versus Rs 792 crore, YoY.

Source: www.moneycontrol.com

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Orchid Chemicals Q2 net loss at Rs 20cr

Orchid Chemicals has announced its second quarter results. The company's Q2 net loss was at Rs 20 crore versus profit of Rs 23.4 crore, year-on-year, YoY.

Its Q2 net sales were down at Rs 330 crore versus Rs 410 crore, YoY.

Source: www.moneycontrol.com

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Eicher Motors Q3 cons net profit down at Rs 66cr

Eicher Motors  has announced its third quarter results. The company's Q3 cons net profit was down at Rs 66 crore versus Rs 73.7 crore, year-on-year, YoY.

Its consolidated net sales were up at Rs 1,471 crore versus Rs 1,422 crore, YoY.

Source: www.moneycontrol.com

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ABG Shipyard Q2 net profit down at Rs 33cr

ABG Shipyard has announced its second quarter results. The company's Q2 net profit was down at Rs 33 crore versus Rs 48.4 crore, year-on-year, YoY.

Its net sales were down at Rs 543 crore versus Rs 581 crore, YoY.

Source: www.moneycontrol.com

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IRB Infra Q2 net profit up at Rs 51cr

IRB Infra has announced its second quarter results. The company's Q2 net profit was up at Rs 51 crore versus Rs 10.6 crore, year-on-year, YoY.

Its income from operations was up at Rs 450.7 crore versus Rs 133.1 crore, YoY.

Source: www.moneycontrol.com

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Lanco Infra Q2 cons net loss at Rs 135.93cr

Lanco Infra has announced its second quarter results. The company's Q2 consolidated net loss was at Rs 135.93 crore versus Rs 259.5 crore, year-on-year, YoY.

Its consolidated net sales were up at Rs 3,184.7 crore versus Rs 1,896.3 crore, YoY.

Source: www.moneycontrol.com

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Moser Baer Q2 net loss at Rs 87.6cr

Moser Baer has announced its second quarter results. The company's Q2 net loss was at Rs 87.6 crore versus loss of Rs 62 crore, year-on-year, YoY.

Its total income from operations was at Rs 421.7 crore versus Rs 536.3 crore, YoY.

Source: www.moneycontrol.com

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Videocon Ind Q3 net profit down at Rs 15.2cr

Videocon Industries has announced its third quarter results. The company's Q3 net profit was down at Rs 15.2 crore versus Rs 116.8 crore, year-on-year, YoY.

Its total income from operations was down at Rs 3,021.7 crore versus Rs 3,271 crore, YoY.

Its other income at was up at Rs 25.8 crore versus Rs 8 crore, YoY.

Source: www.moneycontrol.com

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Pantaloon posts net profit of Rs 258 cr in Jul-Sept

Future Group firm Pantaloon Retail  today reported consolidated net profit of Rs 257.90 crore for the September quarter. The company had posted a consolidated net profit of Rs 15.05 crore in the corresponding period last year, but the company said the numbers cannot be compared as it has extended its accounting year till December 30.

Pantaloon's net sales for the quarter stood at Rs 3,542.84 crore as against Rs 3,180.26 crore a year ago. In a separate exchange filing, Pantaloon and Future Ventures India said their boards approved a proposal to consolidate their fashion businesses into a new, to-be-listed entity Future Fashion.

Future Fashion will own and operate retail chains Central, Brand Factory, all and Planet Sports. It will operate around 3.5 million square feet of retail space across 140 departmental and specialty retail stores. "This consolidation will help create the base for the next phase of growth of the Future Group in modern retail. We grew multiple formats in the early stages of our growth, and now as each one of them has become sizable, we are giving them independence to propel their growth," Future Group chief executive Kishore Biyani said.

Source: www.moneycontrol.com

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M&M Group net up 17% at Rs 798.7 cr in Q2

The Mahindra Group today said its consolidated group net profit rose 17 percent to Rs 798.7 crore in the quarter to September from Rs 682 crore a year ago, driven by all-round good performance of subsidiaries. The gross revenue and other income for the quarter grew by 17.7 percent to Rs 17,973.4 crore against Rs 15,267.6 crore Y-o-Y.

During the quarter, some of the major group companies like Mahindra Finance, Mahindra Satyam and Mahindra Holidays significantly improved their performance. While Mahindra Finance grew its consolidated revenue by 46 per cent and its profit by 42 per cent, Mahindra Satyam's consolidated revenue grew by 23 percent with a 17 per cent increase in profit, and Mahindra Holidays operating revenue grew by 11 per cent with a profit growth of 12 per cent, the automobiles-to-software conglomerate said in a statement.

During the quarter, due to the disposal of shares by a joint venture partner, Tech Mahindra became an associate of the company with effect from September 1 and its gross revenue and other income have been included in this consolidation only up to August 31, the company said. It said that in view of this, the consolidated revenue for the current quarter and half year are not strictly comparable with that of the corresponding periods in the previous year.

As of the September quarter, the USD 15.9-billion M&M Group had 118 subsidiaries, 5 joint ventures and 12 associates.

Source: www.moneycontrol.com

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Tata Chemicals net down over 6% at Rs 323 cr

Tata Chemicals, the fertilizer and chemicals arm of the Tata Group, posted 6.3 per cent decline in net profit at Rs 323.48 crore for the quarter ended September 30 from Rs 345.26 crore a year ago. Income from operations rose to Rs 4,260.19 crore, as against Rs 3,608.36 in the year-ago period, the company said in a statement.

The company registered 17 per cent rise in sales turnover during the quarter despite challenges posed by the uncertainties across the globe, Tata Chemicals managing director R Mukundan said. "Going forward, we expect the domestic market to continue the growth momentum, however, there would be continued pressure in the complex fertilizer business. We continue to lead the market in the national branded salt category with 67 per cent market share.

"Our water purifier business launched a new variant Lavita enhancing the offering basket. We also remain positive about the continued growth across our businesses and the transformation to more consumer and specialty portfolio," he added.

The company further said Tata Sons Deputy Chairman Cyrus Mistry has been appointed as deputy chairman of Tata Chemicals with immediate effect. He was on the board of the company since May.

Source: www.moneycontrol.com

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Pipavav Defence profit down 11% to Rs 8.40 cr in Jul-Sept

Pipavav Defence and Offshore Engineering Company (Pipavav Shipyard) today reported a 10.7 per cent dip in net profit to Rs 8.40 crore for the quarter ended September 30. The company had posted a net profit of Rs 9.41 crore in the quarter ended September 30, 2011, it said in a BSE filing.

However, the total income of the company rose by 48.9 per cent to Rs 666 crore during the quarter under review from Rs 447 crore in a year-ago period. The company has recently ventured into defence sector. Shares of Pipavav closed today at Rs 82.45 apiece on the BSE, down 0.78 per cent from the previous close.

Source: www.moneycontrol.com

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Punj Lloyd net loss at Rs 17.92 cr in Q2

Leading infrastructure firm Punj Lloyd today reported a consolidated net loss of Rs 17.92 crore for the July-September quarter, largely due to over 36 per cent increase in its finance outgo. The company had reported a net profit of Rs 24.74 crore during the corresponding quarter of the last fiscal.

Net sales of the company, however, increased by 14.77 per cent to Rs 2,728.06 crore during the quarter vis-a-vis Rs 2,376.91 crore of the second quarter of FY'12, it said in a filing to the BSE. During the quarter, Punj Lloyd's finance costs increased by 36.84 per cent to Rs 207.97 crore, while it’s total expenditure was up 11.47 per cent at Rs 2,556.66 crore.

"We are focusing on bringing down working capital and debt to improve profitability. However, in current scenario, this is expected to take some time. Improvement in the receivables will help us in managing our working capital," a separate company statement quoted Chairman Atul Punj as saying. The Punj Lloyd chairman also said that "the macro environment continues to be challenging both domestically and internationally with high interest rates, volatile input costs, liquidity concerns and currency volatility. We are trading carefully...”

Besides, company's auditor Walker, Chandiok & Co observed in its review report that Punj Lloyd's current assets as of September 30, 2012, includes dues representing claims of Rs 243.03 crore recognized during the earlier years and liquidated damages of Rs 7.30 crore deducted by the customer. "In view of the uncertainty over the ultimate outcome of the matter, we are unable to comment on ultimate collection and recoverability of the same and its impact, if any, on the financial results for the period ended September 30, 2012," the auditor said.

Commenting on the auditor's observation, the company said that the matter is disputed and Punj Lloyd and its customer, ONGC, has referred the issue to an Outside Expert Committee "which is likely to resolve the issue in an expeditious manner". The auditor has also drawn attention to an amount of Rs 58.02 crore, withheld by a customer, but carried by the company as trade receivables.

On this issue, the company said that its management is taking appropriate steps for recovery of the money and "believes that these accounts are fairly stated".

Source: www.moneycontrol.com

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Sakthi Sugars Q2 net loss declines to Rs 23.5 cr

Sakthi Sugars has reduced its net loss to Rs 23.5 crore in the second quarter of current financial year as against loss of Rs 43.3 crore in a year ago period.

Net sales rose by 36 percent to Rs 223.4 crore from Rs 164.3 crore during the same period.

Shares fell 5.14 percent to close at Rs 29.55 amid high volumes on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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DEN Networks Q2 net profit rises 27% to Rs 18 cr

DEN Networks ' consolidated net profit increased 26.8 percent to Rs 18 crore in the July-September quarter of FY13 from Rs 14.2 crore in the previous quarter.

Consolidated revenue rose by 8 percent to Rs 210.5 crore from Rs 195 crore during the same period.

Shares went down 3.5 percent to Rs 179.10 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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MOIL Q2 net profit increases to Rs 108.6 cr

State-run MOIL’s net profit increased to Rs 108.6 crore in the second quarter of current financial year from Rs 101 crore in a year ago period.

Net sales declined to Rs 229.5 crore from Rs 248.3 crore during the same period.

The stock rose just 0.10 percent to close at Rs 248.95 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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MTNL Q2 loss at Rs 1,093.7 cr

State-run MTNL today reported net loss of Rs 1,093.7 crore for the second quarter ended September 30. The telecom company had posted a net loss of Rs 864.2 crore in the corresponding period last fiscal. The total income from operations was also down 2.16 per cent to Rs 842 crore in the reported quarter compared to Rs 860 crore in the July-September quarter of 2011.

During the quarter, MTNL's revenues from basic services stood at Rs 688.8 crore, while those from cellular services was Rs 184.4 crore, it said in a statement. Employee remuneration and benefit costs stood at around Rs 970.1 crore during the second quarter ending September 30, compared to about Rs 801 crore in the same quarter last year.

The company's administrative and operative expenditure increased to Rs 200.2crore from Rs 177.1 crore in the corresponding quarter of the previous year. This partly reflects increased expenditure on power and fuel and maintenance costs, the statement added. During the quarter, the company added 22,419 broadband subscribers taking the total to 10, 85,169 users.

"The company has deployed adequate capacity for mobile and broadband connections to meet the demand," it said. MTNL has over nine million mobile and wireline subscribers and offers services in two circles -- Delhi and Mumbai. The company has decided to offer voluntary retirement scheme (VRS) to about 20,000 employees as part of its efforts to turn profitable.

Shares of MTNL today closed at Rs 26.85 apiece on the BSE, down 2.36 per cent from their previous close.

Source: www.moneycontrol.com

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Educomp Solutions Q2 net profit down 26.5% to Rs 3.6 cr

Educomp Solutions  ' consolidated net profit fell 26.5 percent to Rs 3.6 crore in the second quarter of current financial year from Rs 4.9 crore in the previous quarter.

Consolidated net sales declined to Rs 302 crore from Rs 325 crore during the same period.

The stock went down 0.83 percent to close at Rs 148.70 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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ITI Q2 net loss reduces to Rs 97.8 cr

State-run ITI has posted a net loss of Rs 97.8 crore in the July-September quarter of FY13 as against loss of Rs 105.2 crore in the previous quarter.

Net sales increased significantly to Rs 201.8 crore from Rs 134 crore during the same period.

The stock dropped 1.5 percent to close at Rs 23.40 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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Gitanjali Group Q2 profit up 15% at Rs 151.65 cr

Gitanjali Group today reported 15 per cent growth in net profit to Rs 151.65 crore for the second quarter ended September 30, driven by stable gold prices. The Profit After Tax (PAT) in second quarter of FY12 stood at Rs 132.24 crore. The net sales rose 32 per cent during the period under review to Rs 3,928.25 crore from Rs 2,972.11 crore in the year-ago, Gitanjali Group said in a release.

"Stable gold prices in the country have driven volumes during the quarter. With the upcoming Diwali and marriage seasons, we are expecting better sales," Gitanjali Gems Chairman and Managing Director Mehul Choksi said. The company has been working on re-aligning its business to unlock value for stakeholders, he added.

The company unveiled its new brands and collections -- Envi, Moira, True Platinum and Karina -- at the recently held India International Jewellery Show (IIJS). Gitanjali Group's recent expansions in Japan and West Asia have also given incremental sales to the company, the release said.

With a view to establish itself further in the e-commerce space, Gitanjali, during July-September quarter, entered into tie-ups with some of the largest online retailers in the country. The company plans to extend its presence to 600 cities and towns from the current 300, especially in tier II and III cities that are witnessing a rapid growth in demand for gems and jewellery, Choksi aid.

The company will also focus on franchise mode that gives geographic flexibility in terms of reaching out to tier III and IV towns, he added

Source: www.moneycontrol.com

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IOC posts net profit of Rs 9,611 cr in Jul-Sept qtr

State-owned Indian Oil Corp (IOC) today reported a net profit of Rs 9,611 crore in the quarter ended September 30, after the government paid a lumpsum fuel subsidy. The company had posted a net loss of Rs 7,485 crore in the same period a year ago.

IOC, which reported the largest quarterly net loss by a corporate in the June quarter at Rs 22,451 crore as it did not get any fuel subsidy from the government, received a lumpsum Rs 16,094 crore compensation for the first half a couple of days to enable the company to make profit in Q2.

"The compensation we received is short of Rs 29,729 crore that was needed to bridge the gap between retail price and cost," IOC Chairman R S Butola told reporters here. After accounting for assistance from upstream firms like ONGC, there is still an unmet revenue loss of Rs 13,635.16 crore, he said.

For the first half (April-September) of the current fiscal, it has reported a net loss of Rs 12,839.60 crore. IOC and other state-owned fuel retailers Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) sell diesel, domestic LPG and kerosene at government controlled rates which are way lower than cost. The losses they incur are met through a combination of cash subsidy from the government and assistance from upstream firms like ONGC. Butola said the companies currently incur Rs 9.84 per litre loss on diesel, Rs 31.30 a litre in kerosene and Rs 478.50 per 14.2-kg LPG cylinder.

"At current prices, IOC will end the fiscal will an under-recovery (revenue loss) of Rs 86,357 crore. Industry will have an under-recovery of Rs 161,000 crore," he said. The company's borrowing have jumped to Rs 96,000 crore from Rs 75,447 crore at the end of March, he said.

The profits were also higher because of higher refining margin. IOC earned USD 5.15 on turning every barrel of crude oil into fuel in July-September quarter as against a gross refining margin of USD 2.76 per barrel a year ago. The company in the first quarter had a negative GRM of USD 4.81 per barrel.

"If the cash subsidy we received is prorated, the loss in Q1 would have come down to Rs 13,504 crore," he said adding similarly the July-September quarter profit should have been only Rs 664 crore. If all the under-recovery was met by the government, IOC would have posted a net loss of Rs 4,966 crore in Q1 and Rs 5,761 crore net profit in Q2.

Net sales rose to Rs 105,791.29 crore in July-September quarter from Rs 81,409.96 crore in the same period last fiscal.

Source: www.moneycontrol.com

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Suzlon reports consolidated net loss at Rs 808 cr in Q2

Wind turbine supplier Suzlon Energy has posted a consolidated net loss of Rs 808 crore in the July-September quarter of FY13 as against profit of Rs 48 crore in the corresponding quarter of last fiscal.

Consolidated income from operations increased 11 percent to Rs 5,702 crore from Rs 5,131 crore during the same period.

Forex loss for the quarter was Rs 24.4 crore as against loss of Rs 83.5 crore in a year ago period.

"The first half of FY2012-13 has been disappointing for the Suzlon Group. Our performance was affected by macro-economic headwinds and policy uncertainties in some key markets; as well as by our internal challenges around liability management, and sub-optimal capital allocation to business operations," Tulsi Tanti, Chairman Suzlon Group said.

Suzlon has defaulted in repayment of Rs 1,102.7 crore for FCCBs due. It has been in talks with FCCB holders on various solutions on dues settlements.

In the last week of October, the Suzlon Group has initiated discussions with its senior secured lenders and plans to restructure its debt with a maturity period of ten years under the CDR mechanism, including a two-year moratorium on principal and interest payments on term-debt.

“This is an important step towards stabilizing our business by enhancing liquidity and injecting additional working capital. We believe this will help us to safeguard the interests of our key stakeholders, including customers and vendors," the company said.

The stock fell 0.64 percent to close at Rs 15.50 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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UB Holdings posts Q2 net loss at Rs 17.2 cr

United Breweries Holdings has reported a net loss of Rs 17.2 crore in the second quarter of current financial year as against profit of Rs 66 lakh in a year ago period.

Net sales increased 11.4 percent to Rs 109.4 crore from Rs 98.2 crore during the same period.

The stock gained 3.34 percent to close at Rs 136.05 on the Bombay Stock Exchange despite disappointing numbers. The reason was that the UK-based Diageo and Vijay Mallya have entered into Rs 11,166 crore deal for stake sale United Spirits.

Source: www.moneycontrol.com

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Sun TV Network Q2 net profit falls 7.6% to Rs 151.6 cr

The Chennai-based Sun TV Network’s net profit fell 7.6 percent quarter-on-quarter to Rs 151.6 crore in the second quarter of current financial year, which was below the street expectations of Rs 171 crore.

Income from operations increased 1.7 percent to Rs 433.3 crore from Rs 426 crore during the same period.

Other income declined to Rs 9.6 crore in the three months period ended September 2012 from Rs 13.3 crore in the previous quarter.

Shares fell 0.9 percent to close at Rs 328.80 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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Fortis Q2 net loss widens to Rs 28.43 cr

Fortis Healthcare today reported a widening of consolidated net loss to Rs 28.43 crore for the quarter ended September 30, 2012 over the same period last fiscal.

The company had posted a net loss of Rs 12.32 crore for the quarter ended September 30, 2011, Fortis Healthcare said in a statement.

Consolidated total income of the company however rose to Rs 1,493.45 crore for the quarter under consideration from Rs 614.22 crore for the corresponding period previous fiscal.

The India business of the company recorded revenue of Rs 724 crore, a growth of 18 percent over the corresponding quarter previous fiscal, Fortis said.

Commenting on the results, Fortis Healthcare Group CEO Vishal Bali said: "I am particularly pleased with the sustained improvement in the operating performance of the company over the three sequential quarters."

The hospital business revenue stood at Rs 573 crore for the quarter while the company's diagnostics business posted revenues of Rs 150 crore, the company added.

International business contributed to 52 percent of the consolidated revenues and stood at Rs 770 crore, Fortis said.

In October, the company listed its Religare Health Trust, on the Singapore Exchange and the "proceeds of nearly Rs 2,200 crore from the RHT listing will be used to de-lever our balance sheet," Bali said.

The healthcare provider has an announced capacity of over 12,000 beds across its 76 hospitals in 11 countries. Shares of Fortis Healthcare today closed at Rs 103.35 a share on BSE, down 0.86 percent from its previous close.

Source: www.moneycontrol.com

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HPCL turns profitable with Q2 net profit at Rs 2,327 cr

State-controlled oil retailer Hindustan Petroleum Corporation (HPCL) has reported a net profit of Rs 2,327 crore in the second quarter of current financial year as against loss of Rs 3,364.5 crore in a year ago period.

Net sales increased 30.9 percent to Rs 48,463.9 crore from Rs 37,030.23 crore during the same period.

The stock fell 1.78 percent to close at Rs 301.45 on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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Coal India net up 19%, narrowly misses estimates

Coal India, the world's largest coal miner, reported on Friday a 19 percent increase in quarterly profit, helped by strong sales and better prices, but narrowly missed market expectations.

The state-run miner said September quarter net profit rose to Rs 30.8 billion (Rs 3,080 crore) from Rs 25.9 billion (Rs 2,590 crore) a year earlier. Net sales rose 11 percent to Rs 145.7 billion (Rs 14,570 crore).

Analysts on average had forecast a net profit of Rs 32.2 billion (Rs 3,220 crore), according to a Reuters poll of brokerages.

Shares in Coal India, valued at USD 40.7 billion, closed 0.7 percent lower, before the earnings announcement, in a Mumbai market down nearly 1 percent. The stock has gained nearly 16 percent so far this year.

Source: www.moneycontrol.com

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SRS posts marginal rise in Q2 net profit

Diversified company SRS today reported a marginal increase in its net profit for the quarter ended September 30 at Rs 6.46 crore. The company had posted a net profit of Rs 6.43 crore in the corresponding period last year, SRS said in a filing to the BSE.

Net income during the second quarter of the fiscal also went up by 11.75 per cent to Rs 576.55 crore from 515.93 crore in the year-ago period, it added. Shares of the company were trading 0.14 per cent up at Rs 36.90 apiece on the BSE.

Source: www.moneycontrol.com

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Power Finance Corp posts 33% rise in Q2 profit

State-run Power Finance Corporation today posted 33 per cent rise in net profit to Rs 1,084 crore for the quarter ended September 30, 2012. The company had reported a net profit of Rs 812 crore in the corresponding period of last financial year, PFC Chairman and Managing Director Satnam Singh told reporters.

Total income of the company rose to Rs 4,190 crore during the quarter under review, from Rs 3,150 crore in the year-ago period. Shares of the company closed down 1.81 per cent at Rs 186.90 on the BSE.

Source: www.moneycontrol.com

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Neyveli Lignite Q2 net up 20% at Rs 334 cr

State-owned Neyveli Lignite Corporation (NLC) today reported 20 per cent rise in net profit at Rs 334 crore for the quarter ended September 30 on the back of higher sales. Its net profit for the same period last year was Rs 278 crore, the company said in a filing to BSE.

The total income from operations of NLC for the quarter was Rs 1,349 crore during the quarter, over Rs 1,099 crore for the same period of last fiscal, it said. The company's total expenses for the period were Rs 964 crore which consisted of employee benefit expense of Rs 470 crore.

"Employee benefits expense for the quarter includes Rs 25.6 crore towards provision for pay revision and other benefits in respect of non-executives," the statement said. The state-owned firm recently paid over Rs 439 crore dividend to the government for 2011-12.

"NLC has declared a dividend at the rate of 28 per cent for the financial year 2011-12. The total dividend payout (including distribution tax) amounts to Rs 545.97 crore," an official statement had said. Neyveli Lignite scrip closed at Rs 84.60 on the BSE, up 2.11 per cent, from its previous close.

Source: www.moneycontrol.com

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Apollo Hospitals Q2 net up 49% at Rs 83 cr

Healthcare major Apollo Hospitals Enterprise today reported 49.28 per cent rise in net profit to Rs 83.24 crore for the quarter ended September 30, 2012 on the back of robust sales. It had posted net profit of Rs 55.76 crore for the July-September quarter of 2011, Apollo Hospitals said in a filing to BSE.

Total income of the group rose to Rs 836.32 crore for the quarter, from Rs 699.75 crore in the year-ago period. During the quarter the company transferred seven of its clinics through a slump sale arrangement to its 100 per cent subsidiary, Apollo Health and Lifestyle Ltd.

The company had also divested one third of its equity investment in British American Hospitals Enterprise Ltd. Apollo Hospitals scrip closed at Rs 804.80 on the BSE, down 6.21 per cent from its previous close.

Source: www.moneycontrol.com

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CESC Q2 PAT rises 19 per cent to Rs 136 cr

Power utility CESC Ltd today posted 19 per cent rise in profit after tax to Rs 136 crore in the July-September quarter on the back of "better efficiency and cost management". The company had posted a (profit after tax) of Rs 114 crore in the same period last fiscal.

"Better efficiency and cost management has helped us have a good year. It is a combination of a number of factors... Coal price has gone up, but if you buy at a better load you gain. Fuel cost per unit generated during the quarter could be contained at the same level due to efficient coal management," CESC Chairman Sanjeev Goenka told reporters here.

The company said units of power sold during the quarter was higher by around 2 per cent compared to last quarter and it has witnessed a downward trend in distribution loss. "I am happy with the way our distribution is going. We cannot say we are completely there, we still have a distance to travel," he said.

The company's total income during the period, stood at Rs 1,344 crore against Rs 1,174 crore in the same period of 2011-12.

On the progress of its various proposed power project plants, Goenka said the first phase of 600 MW (2x300 MW) Haldia thermal power project was "very much on track. In fact, we are very much ahead of schedule, which is March 14." He said the company has already tied up coal linkage for its Balagarh power project and is awaiting the delivery.

He added the 600 MW project in Maharashtra was at an advanced stage and its first unit is expected to commission by the first quarter of the next fiscal. During the half-year ended September 2012, CESC Ltd's net profit stood at Rs 261 crore against Rs 225 crore in the year-ago period.

The company's total income stood at Rs 2,764 crore, up from Rs 2,307 crore in July-September 2012.

Source: www.moneycontrol.com

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Tata Steel posts Rs 364 cr loss in Q2, stock tanks

Tata Steel has disappointed the street by reporting lower than expected numbers sending its shares down by 4 percent.

The company has posted a consolidated (including Tata Steel Europe (earlier Corus)) a net loss of Rs 364 crore for the quarter as against profit of Rs 212.4 crore, YoY on poor demand and prices in its main European market offset a healthy performance in domestic market..

Consolidated net sales rose nearly 1% year-on-year to Rs 33,867 crore, YoY.

The steel producer's operational performance too was unsatisfactory. Its. consolidated earnings before interest, tax, depreciation and amortization (EBITDA) dropped 16.9 percent to Rs 2,045 crore, YoY.

The company had to bear higher cost on raw materials which went up to Rs 2537.16 crore as against Rs 1889.04 crore, YoY on higher coal prices. Steel prices over the second quarter fell by around 6% because of falling international rates and sluggish demand growth.

Source: www.moneycontrol.com

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Aurobindo Pharma turns corner with Q2 profit at Rs 222.3 cr

Aurobindo Pharma has turned profitable in the second quarter by reporting a consolidated net profit of Rs 222.3 crore as against a loss of Rs 80 crore in the corresponding quarter of last fiscal, helped by forex gain.

Consolidated net sales rose 41 percent to Rs 1,481 crore from Rs 1,051 crore during the same period.

Healthcare firm has posted a foreign exchange gain of Rs 117.7 crore in the three months period ended September 2012 as against loss Rs 185.4 crore in a year ago period.

At 15:12 hours IST, the stock fell 3.9 percent to Rs 171.50 amid high volumes on the Bombay Stock Exchange after hitting a 52-week high of Rs 181.30.

Source: www.moneycontrol.com

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BPCL turns profitable in Q2 on timely subsidy from govt

Bharat Petroleum Corporation (BPCL) has reported a net profit of Rs 5,034 crore in the September quarter as against loss of Rs 3,229 crore, YoY due to timely cash compensation. of Rs 7238 crore from the government for selling fuel at discounted rates.

S Varadarajan, Director-Finance of BPCL said the government had released Rs 7,239 crore as compensation in the first half for the company. "Cumulative under-recoveries for the first six months were more than Rs 20,000 crore," he added.

Net sales increased 34.5 percent YoY to Rs 56,859 crore

Gross refining margins for the period of first six months of FY13 stood at USD 4.55 a barrel, much higher compared to USD 1.42 a barrel in a year ago period.

"The second quarter gross refining margin was USD 6.4 a barrel," Varadarajan said.

At 14:57 hours IST, the stock rose just 0.15 percent to Rs 339.50 amid large volumes on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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United Spirits Q2 net plunges 74% on slow sales, forex loss

Liquor major United Spirits  ' second quarter net profit plunged 74 percent year-on-year to Rs 39 crore, hit by sluggish volume growth and forex losses.

The company's revenue grew 24 percent to Rs 2,221 crore in July-Sep, although volumes declined 1 percent to 28.4 million cases.

"Excess bulk spirit stocks were sold for Rs 314.7 crore -- were this one time sale eliminated from the sales value, net revenue growth would be 6 percent for the quarter," United Spirits said on Friday.

The Bangalore-based company said Tamil Nadu and West Bengal states continued to dampen its performance during the quarter.

Furthermore, United Spirits said spirits costs were up Rs 2.25 a case from the average of FY12 and up about Rs 6.25 a case from the year ago quarter, an adverse impact of Rs 17 crore.

It also had foreign exchange loss of Rs 34 crore in the second quarter, versus a gain of Rs 39 crore in the year ago quarter.

While its overall volumes declined 1 percent, United Spirits said premium segment grew 14 percent to just under 7.4 million cases, last quarter.

Despite the earnings disappointment, United Spirits shares were up 2 percent at Rs 1,368.30 on NSE in late trading, following reports that global drinks major Diageo has acquired 53 percent stake in the company for around USD 2 billion and a deal is set to be announced jointly once markets close.

Source: www.moneycontrol.com

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JSPL Q2 net profit up 2.5% to Rs 897 cr

Jindal Steel and Power 's (JSPL) consolidated net profit increased 2.5 percent - in-line with forecast - to Rs 897 crore in the second quarter of current financial year from Rs Rs 875 crore in a year ago period.

Consolidated net sales rose lower than expected 4.5 percent year-on-year to Rs 4,606 crore during the quarter.

Analysts on an average were expecting net profit of Rs 898 crore on revenues of Rs 4,975 crore for the quarter.

Earnings before interest, tax, depreciation and amortization (EBITDA) declined marginally to Rs 1,642.7 crore from Rs 1,687.2 crore in the quarter that too came in lower than expectations of Rs 1,725 crore.

EBITDA margin went down by 270 basis points YoY to 35.6 percent.

The stock was trading flat at Rs 383.90.

Source: www.moneycontrol.com

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Corporation Bank Q2 net beats forecast but provisions rise

Public sector lender Corporation Bank’s net profit increased marginally to Rs 406 crore (above expectations) in the second quarter of current financial year from Rs 401 crore in a year ago period due to higher provisions.

But net interest income rose lower than expected 8 percent year-on-year to Rs 803 crore for the quarter.

Analysts on an average were expecting net profit of Rs 361 crore and net interest income at Rs 851 crore.

Provisions against bad loans jumped 24.5 percent quarter-on-quarter to Rs 269 crore in the second quarter. Provision coverage ratio was 60.44 percent as on September 30.

Gross non-performing assets (NPAs) too increased 26 basis points QoQ to 1.97 percent while net NPAs increased 18 basis points to 1.38 percent during the quarter.

Capital adequacy ratio was 13.05 percent in the three months period ended September 2012 as against 12.92 percent in the previous quarter.

At 13:33 hours IST, the share fell 0.5 percent to Rs 402.25 amid high volumes on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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HDIL Q2 net profit up 177% YoY to Rs 158.6 cr

Mumbai based Housing Development and Infrastructure’s (HDIL) net profit rose 177 percent year-on-year to Rs 158.6 crore in the second quarter of current financial year.

Total income too grew quite strongly (63 percent) to Rs 246 crore from Rs 151 crore during the same period.

Other income increased significantly (69%) to Rs 59.1 crore in the three months period ended September 2012 from Rs 35 crore in the corresponding quarter of last fiscal.

At 13:14 hours IST, the stock gained 0.5 percent to Rs 106.25 on the Bombay Stock Exchange. The share price rose 2 percent initially when the results announced but later on it saw somewhat profit booking.

Source: www.moneycontrol.com

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SBI Q2 net up 30%, slippages a concern, stock down 4%

India's largest lender State Bank of India’s (SBI) on Friday reported a forecast beating 30% year-on-year jump in its second quarter (July-September) net profit at around Rs 3,660 crore, aided by lower provisions against bad assets. However, the net interest income (NII) or the difference between interests earned and paid out, fell short of market expectation and rose 5.3% to Rs 10,973 crore.

A brokerage poll by CNBC Awaaz had expected the second quarter net profit at Rs 3,615.1 crore, up 29% y-o-y and NII more than 12% to Rs 11,680 crore on standalone basis.

The bank expanded its standalone loan book by more than 17% y-o-y to Rs 9.27 lakh crore surpassing RBI's (revised) projected industry credit growth at 16% in 2012-13. Net interest margin (NIM) rose by 20 basis points quarter-on-quarter to 3.77%.

Gross non-performing asset (NPA) ratio increased to 5.15% as against 4.99% in Q1, FY13 and 4.19% in Q2, FY12. Net NPA ratio was at 2.44% compared with 2.22% in the previous quarter. During the quarter, total gross NPAs stood at Rs 49,202 crore while net NPAs at Rs 22,614 crore.

Provisions against non-performing assets declined nearly 37% y-o-y to Rs 1,837 crore in the quarter.

"Lower provisions added to the profit margin. It came on the back of strong recovery and ugrades. Together, those stood at Rs 4,500 crore compared with Rs 3,000 crore in the April-June quarter," Vaibhav Agrawal, vice president Research at Angel Broking told moneycontrol.com.

However, fresh slippages and restructured loans increased during the three month period. Fresh slippages remained at an elevated level at Rs 8,495 crore.  In the last four trailing quarters, the average level of slippages was around Rs 8,000 crore. In Q2, analysts were expecting it to come down in the range of 5000-6000 level.

On the other hand, the public sector lender restructured loans worth Rs 4,694 crore as against Rs 564 crore in the previous quarter.

When a borrower fails to repay his loans and asks for relaxation of original terms and conditions, it is called restructuring of loans. Slippages come up when the status of standard performing loans slips into non-performing category.

"During the quarter and half year ended September 30, 2012; the bank has made additional provisions of Rs 115 crore (net) and Rs 1,010 crore respectively against (i) an account pending restructuring and (ii) against certain non-performing domestic advances," SBI said in a statement sent to the stock exchanges.

Provision coverage ratio was 62.78% as on September 30 and capital adequacy ratio contracted to 12.63% in Q2, from 13.14% recorded in Q1.SBI grew its deposits by about 16% y-o-y to Rs 11.34 lakh crore.

SBI shares tanked 4% on Friday to close the day's trading at Rs 2155 on the NSE. Traders pressed the panic button over SBI's rising slippages.

Source: www.moneycontrol.com

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Alstom T&D posts loss of Rs 1.81 cr in Q2, stock declines

Alstom T&D India, engaged in the power transmission business, has reported a net loss of Rs 1.81 crore in the second quarter of current financial year as against profit of Rs 40 crore in a year ago period.

Total income from operations dropped nearly 9 percent to Rs 683 crore from Rs 748 crore during the same period.

At 10:00 hours IST, the stock fell 0.6 percent to Rs 202.90 after losing as much as 1.5 percent in early trade on the Bombay Stock Exchange.

Source: www.moneycontrol.com

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United Breweries' Q2 net up 76% on better volumes

United Breweries has posted a 76%, YoY jump in its September quarter profit to Rs 34.2 crore on improved volumes in its key markets across India.  While its strong beer segment witnessed 10% growth, the firm's wild mild beer segment saw 4% volume rise.

Revenues also grew 18%, YoY to Rs 873.7 crore.

The company added that the September quarter results include operations of MBIL, UMBL, UB Nizam, UB Ajanta and UBPL consequent to the merger of these entitutes into the company and hence numbers cannot be compared with the corresponding quarter of FY12.

Meanwhile, the company in a statement said, it managed to offset rise in input cost in an inflationary economy by reducing bottle cost through its patented bottle system.

Post the earnings announcement, shares of the company rose 2.29% to Rs 807.15.

Source: www.moneycontrol.com

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Pfizer posts net profit of Rs 52 cr in Q2

Drug firm Pfizer today posted net profit of Rs 52.28 crore for the second quarter ended September 30. The company had posted a net profit of Rs 46.99 crore during the corresponding period of previous fiscal. Net sales of the company stood at Rs 246.16 crore during the second quarter ended September 30, 2012. It stood at Rs 271.82 crore during the same period of 2011-12 fiscal, Pfizer Ltd said in a BSE filing.

The company said the results for the quarter were not comparable to the same period of previous fiscal due to the sale of company's animal health business. In a separate filing to the BSE, the company said its board has approved the sale of its wholly owned subsidiary Pfizer Animal Pharma Pvt Ltd to Pfizer Animal Health India Ltd, a 100 per cent indirect subsidiary of Pfizer Inc, USA for Rs 471.60 crore. Shares of Pfizer today closed at Rs 1,134.10 crore on the BSE, down 0.90 per cent from its previous close.

Source: www.moneycontrol.com

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