Nestle India in spotlight after Q1 results

Net profit of Nestle India declined 7.14% to Rs 259.16 crore on 2.91% rise in net sales to Rs 2313.46 crore in Q1 March 2014 over Q1 March 2013.

Net domestic sales grew by 3.4% while export sales declined by 4.4% largely due to export related to affiliates. The operating margins have been adversely impacted by high price of milk solids and increased demand generating spends on the base of a stronger quarter last year, Nestle India said in a statement.

Commenting on the results for the first quarter of 2014, Mr. Etienne Benet, managing director said, "The first quarter results are broadly as expected and in line with our strategy which was alluded to in my comments while announcing the full year 2013 results. We will continue to take the right decisions in the short and medium term to ensure that we consistently move towards our ambition of being recognized as the leader of nutrition, health and wellness in India while maintaining healthy overall performance."

Tata Coffee's net profit rose 10.14% to Rs 13.47 crore on 29.53% increased in total income from operations (net) to Rs 160.84 crore in Q4 March 2014 over Q4 March 2013.

Dhanlaxmi Bank said that Reserve Bank of India (RBI) vide letter dated 13 May 2014 has conveyed their approval for re-appointment of Jayakumar P G as Managing Director & CEO of the bank for a further period of 6 months from 18 May 2014 till 17 November 2014.

Tata Steel, Tech Mahindra and Asian Paints are schedule to announce results today, 14 May 2014.

Bhel will be watched after a media report suggested that the Cabinet Committee on Economic Affairs (CCEA) on Tuesday, 13 May 2014, ratified the decision to sell 4.66% stake in the state-run power equipment maker through block deal route. The decision was ratified by the CCEA headed by Prime Miniser Manmohan Singh, report added.

L&T after market hours on Tuesday, 13 May 2014, said that the strike at the company's Hazira campus has been called off and workmen have reported to work.

Power Grid Corporation of India announced after market hours on Tuesday, 13 May 2014 that its board has approved four investment approvals worth Rs 1776.72 crore.

Adani Enterprises will be watched. With reference to the news item appearing in the news channel regarding "The Company wins order to supply coal to NTPC Power Plant", Adani Enterprises after market hours on Tuesday, 13 May 2014, clarified that NTPC has not placed any order on the company in the current financial year i.e. on or after 1 April 2014.

Net profit of Repco Home Finance rose 13.68% to Rs 31.49 crore in the quarter ended March 2014 as against Rs 27.70 crore during the previous quarter ended March 2013. Operating income rose 32.35% to Rs 144.92 crore in the quarter ended March 2014 as against Rs 109.66 crore during the previous quarter ended March 2013.

Net profit of IIFL Holdings rose 11.07% to Rs 67.55 crore in the quarter ended March 2014 as against Rs 60.82 crore during the previous quarter ended March 2013. Operating income declined 60.83% to Rs 70.64 crore in the quarter ended March 2014 as against Rs 180.43 crore during the previous quarter ended March 2013.

Net profit of IL&FS Transportation Networks rose 47.48% to Rs 50.94 crore in the quarter ended March 2014 as against Rs 34.54 crore during the previous quarter ended March 2013. Sales declined 5.23% to Rs 978.17 crore in the quarter ended March 2014 as against Rs 1032.18 crore during the previous quarter ended March 2013.

EID Parry India has acquired 63,200 equity shares of Rs 100 each from erstwhile promoters in Parry Phytoremedies, a subsidiary of EID Parry. With this acquisition Parry Phytoremedies has become a 100% subsidiary of the company.

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