Hindustan Zinc's net profit rose 5% to Rs 2285 crore on 4% growth in revenue to Rs 3908 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 19 October 2015.
Hindustan Zinc attributed the growth in bottom line in Q2 September 2015 to higher operating profit and increase in investment income, partly offset by higher tax rate. Top line growth during the quarter was driven by significant increase in volumes and rupee depreciation despite lower LME prices and zinc premiums.
During the quarter, Government of India notified the contribution towards DMF at 30% of royalty for existing mining leases, payable with effect from 12 January 2015. Accordingly, the company has revised its DMF liability resulting in a write back of Rs 140 crore provisioned during the prior quarters.
With regard to its on-going expansion projects, Hindustan Zinc said that Rampura Agucha open pit deepening project, undertaken to de-risk the transition to underground mine, is on track. The underground mine project is progressing well and regular stoping will start in Q3 December 2015, the company said. The main shaft sinking is now progressing as per plan, Hindustan Zinc said in a statement.
Maruti Suzuki India (MSIL) after market hours yesterday, 19 October 2015, announced the introduction of a new variant of its popular mid-size sedan Ciaz. The petrol version of Ciaz RS is priced at Rs 9.20 lakh ex-showroom Delhi and the hybrid diesel version is priced at Rs 10.28 lakh ex-showroom Delhi.
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PC Jeweller after market hours yesterday, 19 October 2015, announced inauguration of its 55th showroom and first showroom in Bhilai. The showroom is spread across a total area of 5,100 square feet (sq. ft).
Sasken Communication Technologies' consolidated net profit declined 88.6%to Rs 10.55 crore on 18.2% growth in revenue to Rs 127.81 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 19 October 2015.
The company's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 26.3% to Rs 12.37 crore in Q2 September 2015 over Q2 September 2014.
Gati's consolidated net profit fell 16.45% to Rs 5.79 crore on 1.73% decline in total income to Rs 407.72 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 19 October 2015.
SKS Microfinance's net profit rose 37.19% to Rs 77.85 crore on 61.31% rise in total income to Rs 324.28 crore in Q2 September 2015 over Q2 September 2014. The company announced results after market hour yesterday, 19 October 2015.
Oriental Bank of Commerce announced after market hour yesterday, 19 October 2015, that the bank intends to raise Tier II capital through Private Placement of Basel III Compliant Tier 2 bonds of Rs 10 lakh each at par aggregating to Rs 1000 crore. The Bonds have been rated CARE AA+ & ICRA AA+ (Hyb.) by CARE & ICRA, respectively.
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