Page 448 - Business Finance
Ludlow Jute & Specialities standalone net profit rises 203.45% in the March 2019 quarter
Sales rise 4.81% to Rs 104.17 crore
Hindustan Zinc standalone net profit declines 19.68% in the March 2019 quarter
Sales decline 12.80% to Rs 5384.00 crore
LKP Finance reports standalone net loss of Rs 1.61 crore in the March 2019 quarter
Sales reported at Rs -1.72 crore
HSIL standalone net profit rises 59.72% in the March 2019 quarter
Sales rise 22.40% to Rs 808.87 crore
The Investment Trust of India reports consolidated net loss of Rs 0.50 crore in the March 2019 quarter
Sales rise 83.40% to Rs 196.29 crore
IT shares tumble after Cognizant cuts growth outlook; TCS falls 3.70 pc
Shares of IT companies tumbled up to 3.7 per cent Friday after Cognizant reported over 15 per cent drop in net income for the quarter ended March, and slashed its full-year revenue growth outlook. On the BSE, TCS fell 3.70 per cent, Hexaware Technologies 2.73 per cent, Tech Mahindra 2.16 per cent, HCL Tech 1.40 per cent, Wipro 0.87 per cent and Infosys Ltd 0.84 per cent. TCS was the worst hit among the BSE 30-share pack. Led by the decline in these scrips, the BSE Information Technology index fell 1.91 per cent to close at 15,659.96. The US-headquartered company, which has a significant portion of its employees based in India, revised its full-year 2019 revenue growth outlook to 3.6-5.1 per cent in constant currency, significantly less than 7-9 per cent projected just months ago. The company follows January-December as financial year. It cited "first quarter underperformance" and likelihood of slower growth in financial services and healthcare as reasons for the massive cut in ...
DLF transfers Noida mall to its subsidiary for Rs 2,950 crore
Realty major DLF said it has transferred shopping mall in Noida, Uttar Pradesh, to its subsidiary firm for Rs 2,950 crore, as part of efforts to settle dues of its joint venture firm with GIC. DLF has to pay Rs 8,700 crore to the DLF Cyber City Developers Ltd (DCCDL), which is a joint venture firm of DLF and Singapore's sovereign wealth fund GIC. It wants to settle these dues by September this year through transfer of rental assets and land parcels. In a regulatory filing on Thursday, DLF informed that the company has transferred its property, Mall of India, Noida, to one of its subsidiaries Paliwal Real Estate Ltd, in the ordinary course of business at an arm's length consideration of Rs 2,950 crore, arrived on the basis of the valuation report of an independent valuer. "This is in line with the company's stated objective of streamlining and consolidating the operations and holding structure of its rental assets," DLF added. Mall of India is located in Sector 18, Noida, with a ...
Dolat Investments change in directorate
On 03 May 2019
Intellect Design Arena Q4 PAT up 66.12% to Rs 42.98 cr
Intellect Design Arena Ltd, a global leader in financial technology, has clocked Rs 42.98 crore profit after tax for the fourth quarter ending March 31, 2019, a 66.12 per cent growth compared to the year ago period. The city-based firm had clocked profit after tax at Rs 25.87 crore in the year ago period. For the financial year ending March 31, 2019 net profit of the company surged to Rs 131.35 crore up by 181.10 per cent from Rs 46.73 crore. Revenue for the quarter ending March 31 grew to Rs 397.58 crore as against Rs 302.89 crore in the year ago period. For the full year ending March 31, 2019, revenue grew by 36.4 per cent to Rs 1,458.73 crore from Rs 1,069.48 crore, a company release said.
Laurus Labs slips after poor Q4 result
Laurus Labs fell 1.3% to Rs 398 at 15:18 IST on BSE after consolidated net profit dropped 4.21% to Rs 43.18 crore on 12.64% rise in total income to Rs 636.78 crore in Q4 March 2019 over Q4 March 2018.
Property brokerage firm Square Yards' FY'19 revenue up 38% at Rs 220 cr
Property brokerage firm Square Yards, which is backed by Anil Ambani led-Reliance group, Friday reported 38 per cent growth in its 2018-19 revenue at Rs 220 crore on higher sales as well as fee income. Founded in 2013, Square Yards mainly facilitates sale of primary residential real estate in India, and focuses on the Non-Resident Indian (NRI) markets. It also helps prospective home buyers in securing home loans from banks. Square Yards clocked Rs 220 crore revenue in the 2018-19 fiscal year as against Rs 160 crore in the previous year, the company said. The Indian real estate operations contributed 70 per cent to the group's overall revenue, followed by international real estate with 20 per cent, while the remaining 10 per cent came from the mortgage business. On operational front, the company concluded 11,508 transactions, including housing sales and home loans, during the last financial year, slightly better than the 11,299 deals in the previous year. In value terms, it did ...
Gold continues to fall for 4th day, slides Rs 150
Extending its downward trend for fourth straight day, the price of gold Friday fell by Rs 150 to Rs 32,470 per 10 gram at the bullion market here due to tepid demand from jewellers amid subdued trend overseas, according to the All India Sarafa Association. Silver prices, however, held steady at the previous level of Rs 37,700 per kg. Traders said besides sluggish demand from local jewellers, sentiment remained bearish on the back of a weak trend overseas amid the US Federal Reserve's decision to hold rates, thereby putting pressure on the gold prices. Globally, spot gold was trading lower at USD 1,270.60 an ounce, while silver stood steady at USD 14.70 an ounce in New York. In the past three trading sessions, gold prices declined by Rs 380. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 150 each to Rs 32,470 and Rs 32,300 per 10 gram, respectively. However, sovereign gold held steady at Rs 26,400 per eight gram. Silver ready stood steady at Rs ..
Aluminium futures slip 0.4 pc on muted demand
Aluminium prices eased by 0.4 per cent to Rs 125.55 per kg in the futures trade Friday as speculators cut bets amid subdued demand at the domestic spot market. On the Multi Commodity Exchange, aluminium for delivery in May contracts softened by 50 paise, or 0.4 per cent, to Rs 125.55 per kg in a business turnover of 18,207 lots. Analysts said off-loading of positions by participants owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.
Godrej Consumer Products Q4 profit up on the back of international business sales
FMCG major Godrej Consumer Products on Friday reported 52 per cent increase in its fourth quarter 2018-19 net profit at Rs 935 crore against Rs 617 crore in a year ago period.However, the revenue declined by 3 per cent at Rs 2,453 crore against Rs 2,531 crore in Q4 of FY 18. The company's Q4 2018-19 net profit without exceptions and one-off items increased by 1 per cent to Rs 297 crore.Consolidated constant currency sales increased by 4 per cent but constant currency EBITDA (earnings before interest, tax, depreciation and amortisation) declined by 3 per cent, said Godrej Consumer Products.India business sales were flat while international business sales grew 10 per cent on a constant currency basis, it said in a statement.The board of director has declared an interim dividend of 200 per cent (Rs 2 per share)."Our India business remained soft on account of a general slowdown in staples consumption and the adverse impact of the delayed summer on our portfolio," said company's Executive .
Copper futures down 0.06% on tepid spot demand
Copper prices fell 0.06 per cent to Rs 430.25 per kg in futures trade Friday as participants trimmed their bets amid a weak trend in domestic market. Moreover, muted demand from consuming industries in the spot market weighed on prices. At the Multi Commodity Exchange, copper for delivery in June contracts was trading lower by 25 paise, or 0.06 per cent, to Rs 430.25 per kg with a business turnover of 16,841 lots. Analysts said, cutting down of bets by participants in line with a weak trend at the spot market mainly led to the fall in copper futures.
Soybean prices fall by Rs 12 on weak spot demand
Soybean prices fell by Rs 12 to Rs 3,751 per quintal in futures trade Friday after participants cut down their bets, tracking negative cues from the physical markets. Besides, muted demand led to the fall in soybean prices, marketmen said. At the National Commodity and Derivatives Exchange, soyabean contracts for August fell by Rs 12, or 0.32 per cent, to Rs 3,751 per quintal, clocking an open interest of 320 lots. Similarly, soybean for far-month September eased by Rs 60, or 1.61 per cent, to Rs 3,660 per quintal with an open interest of 80 lots.
Dilip Buildcon Ltd leads losers in 'A' group
Intellect Design Arena Ltd, Gujarat State Petronet Ltd, Tata Communications Ltd and Uflex Ltd are among the other losers in the BSE's 'A' group today, 03 May 2019.
Shares turn range bound
The market continued trading in a narrow band in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 108.33 points or 0.28% at 39,089.76. The Nifty 50 index was up 26.50 points or 0.23% at 11,751.25.
Godrej Consumer Products net profit rises 51.5 pc to Rs 935.24 cr in March quarter
Homegrown FMCG major Godrej Consumer Products Ltd (GCPL) on Friday reported a 51.53 per cent increase in consolidated net profit to Rs 935.24 crore in the fourth quarter ended March 31. The company had posted a consolidated net profit of Rs 617.19 crore in the corresponding period last fiscal, GCPL said in a BSE filing. However, its total revenue from operations during the quarter fell 3.06 per cent to Rs 2,481.72 crore, compared with Rs 2,560.14 crore in the corresponding quarter of the previous fiscal. GCPL Executive Chairperson Nisaba Godrej said, "We delivered a relatively weak performance in the fourth quarter of fiscal year 2019. Our India business remained soft on account of a general slowdown in staples consumption and the adverse impact of the delayed summer on our portfolio." The firm's total expense stood at Rs 1,974.73 crore, against Rs 2,016.65 crore, a drop of 2.07 per cent. During the quarter, GCPL's India sales were marginally down 0.9 per cent to Rs 1,356.09 crore, ...
Guar seed futures ease on low demand
Guar seed prices fell by 50 paise to Rs 4,449 per 10 quintal in futures trade Friday on trimming of bets by traders in line with subdued physical markets lead. Marketmen said guar seed futures declined due to soaring stock on continuous supplies from growing belts. On the National Commodity and Derivatives Exchange, guar seed delivery for June contracts declined by 50 paise, or 0.01 per cent, to Rs 4,449 per 10 quintal with an open interest of 22,450 lots. The delivery for July contracts softened by Rs 4, or 0.09 per cent, to Rs 4,512 per 10 quintal in an open interest of 2,400 lots.