On consolidated basis, Reliance Industries (RIL)'s net profit rose 8.5% to Rs 6381 crore on 33.3% drop in turnover to Rs 70863 crore in Q4 March 2015 over Q4 March 2014. The result was announced after market hours on Friday, 17 April 2015. The net profit of Rs 6381 crore in Q4 March 2015 was a record quarterly net profit for RIL on consolidated basis.
RIL attributed the sharp fall in turnover in Q4 March 2015 to a sharp fall in benchmark crude oil price. RIL's gross refining margins (GRM) edged up to $10.1 per barrel in Q4 March 2015, from $9.3 per barrel in Q4 March 2014. On sequential basis, the GRM rose sharply from $7.3 a barrel in Q3 December 2014. RIL's GRM edged up to $8.6 a barrel in the year ended 31 March 2015 (FY 2015) from $8.1 a barrel in the year ended 31 March 2014 (FY 2014).
RIL said in a presentation to investors after the company's Q4 March 2015 results that the company plans to restart its entire network of 1,400 retail fuel pumps during the year ending 31 March 2016 (FY 2016). Over 320 fuel outlets have already become operational, RIL said.
RIL's non-operational income rose 3.57% to Rs 2172 crore in Q4 March 2015 over Q4 March 2014. RIL said the increase in non-operational income was primarily on account of higher profit on sale of investments.
With regard to the company's US shale gas business, RIL said that the challenging market outlook would most likely curtail near-term growth for the shale gas business. Given the current weak commodity price environment, the company is focusing on capital preservation by moderating activity levels, reducing service costs and improving efficiencies in the shale gas business, RIL said. Ensuring profitable development and retaining optionality through high grading acreages and improving netbacks will be the key challenges going forward, RIL said. RIL said that the long term outlook for its US shale gas business remains promising.
RIL's total capital expenditure stood at a little over Rs 1 lakh crore in FY 2015, including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing expansions projects in the petrochemicals and refining business at Jamnagar, Dahej and Hazira, Broad band Access and US shale gas projects.
Hindustan Zinc announces Q4 results today, 20 April 2015.
LIC Housing Finance's net profit rose 2.2% to Rs 378.18 crore on 15.44% growth in total income to Rs 2860.59 crore in Q4 March 2015 over Q4 March 2014. The result was announced on Saturday, 18 April 2015.
LIC Housing Finance's net profit rose 5.23% to Rs 1386.18 crore on 15.68% growth in total income to Rs 10798.65 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014).
On consolidated basis, LIC Housing Finance's net profit rose 5.87% to Rs 1395.60 crore on 15.53% growth in total income to Rs 10828.88 crore in FY 2015 over FY 2014.
NMDC on Saturday, 18 April 2015 announced reduction in the prices of lump iron ore and fines with effect from 18 April 2015. The price of lump iron ore was reduced to Rs 3,050/WMT from Rs 3,250/WMT in March 2015. The price of fines was slashed to Rs 1,960/WMT from Rs 2,460/WMT in March 2015.
Essar Ports announced after market hours on Friday, 17 April 2015, that Vadinar Liquid Terminals, a subsidiary of the company has entered into a concession agreement with Kandla Port Trust for development of marine liquid terminal facilities consisting of one single point mooring system and two product jetties at Vadinar in Gujarat. The terms of the concession is 30 years.
NHPC announced after market hours on Friday, 17 April 2015, that Ministry of Environment, Forests & Climate Change vide its letter dated 15 April 2015 has accorded in-principle approval for diversion of 4577.84 hectares of forest land in favour of NHPC for construction of Dibang Multipurpose Project (3000 megawatts (MW)) on Dibang River in Lower Dibang valley district of Arunachal Pradesh.
Videocon Industries said before market hours that PETROBRAS, Operator of the block SEAL-M-426 in BM-SEAL-11 Concession, Brasil, has completed the formation test (assessing the potential of a petroleum deposit) of well 3-BRSA-1286-SES (ANP nomenclature) / 3-SES-186 (Petrobras nomenclature), located in the BM-SEAL-11 concession in the SEAL-M-426 block in ultra-deep waters of the Sergipe-Alagoas Basin.
The results of the formation test confirmed the presence of light oil (37 API) and good productivity of the reservoirs. This drilling identified two reservoir intervals of light oil and gas - the top with a thickness of 44 meters, and the bottom 11 meters thick, the bottom zone being a new discovery for the area. The well is located 102.7 kilometers from the city of Aracaju (SE) and 10.3 km from the first discovery well Farfan, in a water depth of 2467 meters. The well drilling reached a final depth of 6060 meters. This is the third appraisal well in Farfan area, discovered in October 2012, and the initial results of drilling of this well had been communicated to stock exchange on 3 February 2015.
This well is part of the Farfan Appraisal Plan in the Sergipe-Alagoas Basin in deep waters, as provided for in the said Plan by the Consortium for the period 2014-2018. The Consortium Partners will continue implementation of the Discovery Assessment Plan (PAD) as approved by the Brazilian regulatory authority, Agencia Nacional Do Petroleo, Gas Natural e Biocombustiveis (ANP). Petrobras holds 60% Participating Interest in the Concession and IBV Brasil (a Brazilian Joint Venture Company equally held by Videocon Energy Brazil, a wholly owned overseas subsidiary of Videocon, and BPRL Ventures N.V., a wholly owned subsidiary of Bharat Petroleum Corporation, a Government of India majority held company) holds the remaining 40% Participating Interest in the Concession.
Clariant Chemicals (India) after market hours on Friday, 17 April 2015 said that its board of directors at a meeting scheduled on 22 April 2015, will consider the proposal for buy-back of the equity shares of the company.
Piramal Enterprises (PEL) after market hours on Friday, 17 April 2015 said that it has agreed to acquire a majority stake in Health SuperHiway (HealthHiway), a healthcare analytics company, over the next 12 months. This investment, which will come in two tranches, continues PEL's development of a global healthcare information business, which it began through its acquisition of Decision Resources Group in 2012, and its subsequent acquisitions of Abacus International and Relay Technology Management, PEL said.
PEL has invested Rs 60 lakh in cash which will make it a minority shareholder in HealthHiway. PEL will be investing up to an additional Rs 44.2 crore in the next 33 months, if HealthHiway achieves a set of specific growth milestones that are based on acquisition of hospital data partnerships, PEL said. Upon the second tranche of investment, PEL will control a majority stake in the business, become the promoter, and assume operational control, PEL said in a statement. The transaction is not subject to any regulatory approvals. No promoter/promoter group/group companies of PEL has any interest in HealthHiway, PEL said in a statement.
Ashoka Buildcon after market hours on Friday, 17 April 2015, announced the closure of qualified institutional placement (QIP). The issue opened on 13 April 2015. The issue price for the QIP was fixed at Rs 185.05 per share.
KNR Constructions announced after market hours on Friday, 17 April 2015, that the company has been awarded by National Highway Authority of India, an orders worth of Rs 937.08 crore towards improvement/ augmentation of four laning from Km 5.000 to Km 79.340 (Existing Chainage) [Design Chainage Km 5.000 to Km 81.000] and two laning with paved shoulders from Km 79.340 to Km 118.795 (Existing Chainage) [Design Chainage Km 81 to Km 120] of Madurai Ramanathapuram Section of NH-49 [total design length 115 Km] in the State of Tamil Nadu under NHDP Phase-III on EPC mode to be completed within a period of 30 months from the appointed date.
Modern India announced after market hours on Friday, 17 April 2015, that the company has now received certificate of commissioning of solar power plant at Satara for 3 megawatts (MW) power plant.
Agro Tech Food's net profit rose 12.06% to Rs 14.58 crore on 0.59% decline in total income from operations to Rs 187.54 crore in Q4 March 2015 over Q4 March 2014. The result was announced on Saturday, 18 April 2015.
Agro Tech Food's net profit fell 13.46% to Rs 37.28 crore on 0.66% decline in total income from operations to Rs 759.74 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014).
On consolidated basis, Agro Tech Food's net profit fell 13.39% to Rs 36.92 crore on 0.58% decline in total income from operations to Rs 759.74 crore in FY 2015 over FY 2014.
Delta Corp reported consolidated net profit of Rs 0.77 crore in Q4 March 2015 compared with net loss of Rs 1.95 crore in Q4 March 2014. Total income rose 1.29% to Rs 90.12 crore in Q4 March 2015 over Q4 March 2014.
On consolidated basis, Delta Corp reported net loss of Rs 22.77 crore in the year ended 31 March 2015 (FY 2015) compared with net profit of Rs 35.31 crore in the year ended 31 March 2015 (FY 2014). Total income declined 47.88% to Rs 307.39 crore in FY 2015 over FY 2014.
Shyam Telecom announced before market hours that the company has vacated the plant situated at UV-246, Phase - IV, Udyog Vihar, Gurgaon and resolved to outsource the manufacturing operations. The manufacturing operations of repeater division were consistently dropping with diminishing profitability due to stiff competition. In the last few quarters, the size and quantum of the manufacturing operations even did not justify the manpower and space which the company were occupying of the same premises. The company was carrying out its manufacturing operations from the plant situated at UV-246, Phase - IV, Udyog Vihar, Gurgaon.
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