Cipla reported 43.74% fall in consolidated net profit to Rs 365.24 crore on 6.94% fall in total income to Rs 3618.92 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 12 August 2016. Earnings before interest, taxation, depreciation and amortization (EBITDA) fell 42% to Rs 611 crore in Q1 June 2016 over Q1 June 2015.
Cipla said that the growth momentum in key markets - India, South Africa and the US with focused cost containment measures has resulted in enhanced profitability in the base business. The recent acquisitions of InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc. are EBITDA margin-accretive at a consolidated level with the integration plans progressing smoothly. The company is preparing itself for the future with focused investments in R&D as well as portfolio build-up through strategic inorganic moves. The quarter also saw an improvement in cash flows on account of operational efficiencies, Cipla said.
PowerGrid Corporation of India will announce its Q1 results today, 16 August 2016.
Mahindra & Mahindra (M&M) announced after market hours on Friday, 12 August 2016 that the proactive inspection of the rear driveshaft on all Rexton vehicles, manufactured on or before September 2014. The inspection and subsequent rectification will be carried out free of cost for all Rexton customers, who will be individually contacted by the company. Rexton is a auto brand of company's group company, SsangYong Motors of South Korea.
Shares of automobiles and public sector oil marketing companies (PSU OMCs) will be watched as prices of petrol and diesel were reduced with effect from midnight of 15 August 2016. Petrol prices were reduced by Re 1 a litre at Delhi (including state levies) with corresponding price revision in other states. With this change, the price of Petrol in Delhi reduced to Rs 60.09 a litre. Diesel prices were decreased by Rs 2 a litre at Delhi (including state levies) with corresponding price revision in other states. With this change, the price of Diesel in Delhi reduced to Rs 50.27 a litre.
Infosys will be watched. The company announced on Saturday, 13 August 2016, that The Royal Bank of Scotland will no longer pursue its plan to separate and list a new UK standalone bank, Williams & Glyn (W&G), and instead will pursue other options for the divestment of this business. Infosys has been a W&G program technology partner for Consulting, Application Delivery and Testing services, and subsequent to this decision, will carry out an orderly ramp-down of about 3,000 persons, primarily in India, over the next few months. RBS is a key relationship for Infosys and the company said it looks forward to further strengthening its strategic partnership and working with them across other strategic and transformation programs.
Indiabulls Housing Finance announced before market hours today, 16 August 2016 that the board of directors of the company will consider the proposition of raising the funds by way of a secured and/or unsecured debt issue at its meeting scheduled to be held on 19 August 2016.
Videocon Industries reported net loss of Rs 286.64 crore in Q2 June 2016 compared with net profit of Rs 10.59 crore in Q2 June 2015. Total income fell 12.46% to Rs 2897.17 crore in Q2 June 2016 over Q2 June 2015. The result was announced on Sunday, 14 August 2016.
Aditya Birla Novo turns ex-dividend today, 16 August 2016, for dividend of Rs 5 per share for the year ended 31 March 2016 (FY 2016).
SRF turns ex-dividend today, 16 August 2016, for interim dividend of Rs 6 per share for the year ending 31 March 2017 (FY 2017).
KPR Mill turns ex-dividend today, 16 August 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).
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