NTPC in focus after Q4 results

NTPC's net profit declined 29.39% to Rs 3093.54 crore on 18.56% growth in total income to Rs 21637.87 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Thursday, 15 May 2014.

NTPC's net profit declined 13.03% to Rs 10974.74 crore on 8.49% growth in total income to Rs 74707.82 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

On consolidated basis, NTPC's net profit declined 9.42% to Rs 11403.61 crore on 8.52% growth in total income to Rs 81699.10 crore in FY 2014 over FY 2013.

SpiceJet, Cadila Healthcare, Oracle Financial Services Software, Bajaj Hindustan, Puravankara Projects and Wheels India, among others, will announce their January-March 2014 earnings today, 16 May 2014.

Reliance Industries (RIL) will be in focus. Reliance Jio Infocomm, a subsidiary of RIL and the first telecom operator to hold a Pan-India Unified License, and Tower Vision India, an independent tower company in India, have entered into a MSA (Master Service Agreement) for tower sharing. Under the agreement, Reliance Jio would utilise the telecom tower infrastructure of Tower Vision to launch its services across the country. Tower Vision has a portfolio of 8,400 towers in India.

Sanjay Mashruwala, Managing Director, Reliance Jio said, "We are committed to offer our customers wide coverage of high speed 4G networks. As a consequence, we are continuing to build this through a combination of Towers that we are constructing on our own and those that we are renting from quality tower infrastructure partners. Our partnership with Tower Vision is another step in this direction."

"We welcome Reliance Jio to our high quality tower infrastructure network. Tower Vision India prides itself on a selective tower portfolio with an unparalleled service level, built to cater for the growing urban and semi-urban voice and data demands. Through partnering with Tower Vision India, Reliance Jio gains access to carefully selected sites, covering strategic locations where data customers today require uninterrupted high speed wireless coverage," said Tower Vision's Chairman, Amit Ganani.

RIL turns ex-dividend today, 16 May 2014, for dividend of Rs 9.50 per share for the year ended 31 March 2014.

GM Breweries turns ex-dividend today, 16 May 2014, for dividend of Rs 2.50 per share for the year ended 31 March 2014.

Deepak Fertilisers & Petrochemicals Corporation (DFPCL) after market hours on Thursday, 15 May 2014 said that the supply of domestic gas to the company's plant situated at Raigad district in Maharashtra has been stopped by Gas Authority of India (GAIL) and Reliance Industries (RIL) with effect from 15 May 2014 pursuant to the order by Ministry of Petroleum & Natural Gas (MOPNG). The order of MOPNG to stop supply of natural gas to the company has been taken without any prior notice and is arbitrary, unfair and discriminatory, DFPCL said. The company has approached the High Court of Delhi at New Delhi to seek appropriate remedial measures, the company added.

Net profit of Deepak Fertilizers & Petrochemicals Corp rose 214.01% to Rs 91.44 crore in the quarter ended March 2014 as against Rs 29.12 crore during the previous quarter ended March 2013. Sales rose 61.51% to Rs 1060.61 crore in the quarter ended March 2014 as against Rs 656.70 crore during the previous quarter ended March 2013.

Videocon Industries said that its board of directors at a meeting held on Thursday, 15 May 2014, taken on record the memorandum put forward by its Mauritius based subsidiary Videocon Mauritius Energy (VMEL), for the quarter ended 31 March 2014, confirming that the VMEL has transferred entire share capital of Videocon Mozambique Rovuma 1 Limited (VMRL) to ONGC Videsh and OIL India (Buyers) and realized the sale consideration in terms of the share sale and purchase agreement (SSPA) entered on June 25, 2013 with Buyers for sale of the entire shareholding in VMRL, which owns 10% participating interest in Oil & Gas Block covering Area 1 Offshore of the Rovuma Block, Republic of Mozambique for a base consideration of $2.475 billion. VMRL, therefore, ceased to be subsidiary of the company, Videocon Industries said.

United Spirits said that due to unavoidable circumstances, the consideration of the audited financial results of the company for the year ended 31 March 2014 and recommendation of dividend, if any, will not be taken up at the board meeting scheduled to be held on Friday, 16 May 2014, as advised to the stock exchanges.

Karnataka Bank's net profit rose 20.5% to Rs 81.21 crore on 7.54% growth in total income to Rs 1172.58 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Thursday, 15 May 2014.

Karnataka Bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 2.92% as on 31 March 2014 as against 3.65% as on 31 December 2013 and 2.51% as on 31 March 2013. The ratio of net NPAs to net advances stood at 1.91% as on 31 March 2014 as against 2.23% as on 31 December 2013 and 2.51% as on 31 March 2013.

The bank's provisions and contingencies declined 29.28% to Rs 38.39 crore in Q4 March 2014 over Q4 March 2013.

Karnataka Bank's net profit declined 10.64% to Rs 311.03 crore on 12.79% growth in total income to Rs 4694.41 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

During the year, the bank, pursuant to RBI's circular dated 20 December 2013, has created DTL of Rs 27.01 crore on Special Reserve for the period up to 31 March 2013 and has adjusted the same directly from the Revenue Reserve. Further, the bank has created a DTL of Rs 7.89 crore in respect of the amounts transferred to Special Reserve for the year ended 31 March 2014 by charging of the same to the profit and loss account for the year, Karnataka Bank said.

In terms of RBI circular dated 23 August 2013 on Investment Portfolio of the Bank-Classification, Valuation and Provisioning, the bank has transferred SLR Securities with the face value of Rs 900 crore (book value of Rs 884.65 crore) held under AFS portfolio to HTM Portfolio and loss on such transfers amounting to Rs 16.77 crore has been recognized during the year, Karnataka Bank said.

Pending finalization of wage revision effective 1 November 2012, the bank has made a provision of Rs 33.43 crore during the current year on estimated basis. The cumulative provision held there on of on 31 March 2014 aggregates to Rs 55.93 crore, Karnataka Bank said.

Karnataka Bank's board of directors at its meeting held on Thursday, 15 May 2014, inter alia, has recommended dividend of Rs 4 per share for the year ended 31 March 2014.

Net profit of Jammu and Kashmir Bank rose 0.21% to Rs 250.60 crore in the quarter ended March 2014 as against Rs 250.08 crore during the previous quarter ended March 2013. Operating Income rose 2.9% to Rs 1888.60 crore in the quarter ended March 2014 as against Rs 1835.71 crore during the previous quarter ended March 2013.

Net profit of Manappuram Finance reported to Rs 32.37 crore in the quarter ended March 2014 as against net loss of Rs 141.43 crore during the previous quarter ended March 2013. Operating Income rose 42.1% to Rs 454.91 crore in the quarter ended March 2014 as against Rs 320.12 crore during the previous quarter ended March 2013.

Net profit of Bajaj Holdings & Investment rose 30.48% to Rs 72.94 crore in the quarter ended March 2014 as against Rs 55.90 crore during the previous quarter ended March 2013. Sales declined 22.66% to Rs 61.96 crore in the quarter ended March 2014 as against Rs 80.11 crore during the previous quarter ended March 2013.

Net profit of EID Parry (India) rose 1475.46% to Rs 85.39 crore in the quarter ended March 2014 as against Rs 5.42 crore during the previous quarter ended March 2013. Sales declined 14.63% to Rs 541.83 crore in the quarter ended March 2014 as against Rs 634.69 crore during the previous quarter ended March 2013.

Net Loss of Tata Teleservices (Maharashtra) reported to Rs 111.61 crore in the quarter ended March 2014 as against net loss of Rs 115.23 crore during the previous quarter ended March 2013. Sales declined 0.48% to Rs 666.00 crore in the quarter ended March 2014 as against Rs 669.18 crore during the previous quarter ended March 2013.

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