Oberoi Realty Q3 profit halves to Rs 68 cr on lower sales

Earnings before interest, tax, depreciation and amortisation plunged 47.4 percent to Rs 90 crore and operating profit margin slipped 690 basis points to 52.7 percent compared to same quarter last year.

Moneycontrol Bureau

Mumbai-based Oberoi Realty 's third quarter consolidated net profit halved to Rs 68 crore from Rs 134.5 crore year-on-year, dented by lower revenues.

"Domestic and global economic headwinds continue to be challenging," Vikas Oberoi, CMD said.

Consolidated total income dropped 40.4 percent to Rs 170.5 crore from Rs 286.1 crore during the same period.

Earnings before interest, tax, depreciation and amortisation plunged 47.4 percent to Rs 90 crore and operating profit margin slipped 690 basis points to 52.7 percent compared to same quarter last year.

Meanwhile, the private forest issue relating to the Mulund property has been resolved in favour of the company by the order dated January 30 of the Supreme Court.

"This is a great positive for Oberoi Realty," Vikas said.

Analysts believe the project, worth 3.3 million square feet, is likely to add Rs 5000 crore to the company's topline.

Morgan Stanley on Thursday said the project should contribute nearly Rs 1,200 crore or nearly Rs 39 per share to Oberoi's net asset value ( NAV ).

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Grasim Industries Q3 profit slips 40% to Rs 332 cr

Moneycontrol Bureau

Aditya Birla Group-owned Grasim Industries ' third quarter consolidated net profit fell 39.5 percent year-on-year to Rs 332 crore on weak operational performance.

"The current difficult market conditions have affected the performance of both the businesses cement and viscose staple fibre (VSF).

"Margin of VSF business was impacted due to increase in imported pulp prices and rupee depreciation while profitability of cement business (completely led by Ultratech Cement) dented on account of lower realisation and rising freight costs," the company said in its presentation.

Consolidated net sales grew 5 percent to Rs 7,067 crore in the quarter gone by. Cement business contributed 73 percent of total revenues and 22 percent by VSF.

Other income dropped 40 percent to Rs 106 crore while tax expenses declined 39.4 percent to Rs 183.6 crore. Finance cost increased 52.4 percent to Rs 125 crore year-on-year.

Earnings before interest, tax, depreciation and amortisation slipped 21.6 percent to Rs 984 crore and operating profit margin plunged 480 basis points to 13.9 percent during October-December quarter year-on-year.

"VSF business has recorded volume growth, supported by increased capacity at Harihar," the company said in its filing.

Production of VSF increased by 4 percent year-on-year and sales volume climbed 24 percent to 97,049 million tonne, led by better performance in both domestic and exports markets.

The combined cement and clinker sales volume increased marginally at 10.76 million tonne.

The company said with the commissioning of the grinding unit (1.6 million tonne per annum) at Jharsuguda, Odisha in October 2013, UltraTech's cement capacity stands augmented to 55.5 million tonne per annum.

"On commissioning of all the projects currently under implementation and the acquisition of Gujarat cement unit of Jaypee Cement Corporation., total cement capacity will increase to 70 million tonne per annum," it added.

Board of directors of UltraTech Cement, wherein Grasim holds 60.29 percent stake, approved the acquisition of the two Gujarat cement units of Jaypee Cement Corporation (JCCL) in September, 2013 at enterprise value of Rs 3,800 crore. The transaction is going to be completed by Q1 FY2014-15, the company said.

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Berger Paints Q3 profit up 7% to Rs 82.3 cr

Consolidated net sales jumped 11.8 percent to Rs 1,025 crore from Rs 917 crore during the same period.

Moneycontrol Bureau

Berger Paints ' third quarter consolidated net profit grew 7.1 percent to Rs 82.3 crore from Rs 76.84 crore in same quarter last year.

Consolidated net sales jumped 11.8 percent to Rs 1,025 crore from Rs 917 crore during the same period.

Earnings before interest, tax, depreciation rose 12.6 percent to Rs 131.5 crore in the quarter gone by.

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Maruti Suzuki sales dip 10% in January

The company said its domestic sales declined by 6.3 percent during the month to 96,569 units as against 1,03,026 units in January, 2013.

Country's largest car-maker  Maruti Suzuki India (MSI) on Saturday reported 10.3 per cent decline in total sales in January at 1,02,416 units as against 1,14,205 units in the same month last year.

The company said its domestic sales declined by 6.3 per cent during the month to 96,569 units as against 1,03,026 units in January, 2013.

Also Read: Bajaj Auto introduces new four wheeler for personal use

Sales of mini segment cars, including M800, Alto, A-Star and WagonR, declined by 17 per cent to 38,565 units as compared to 46,479 units in the year-ago month, MSI said in a statement.

The company said sales of the compact segment comprising Swift, Estilo, Ritz increased by 1.9 per cent to 24,473 units in January this year as against 24,006 units last year.

MSI said sales of its popular compact sedan Dzire rose by 12.7 per cent during the month under review at 19,232 units as against 17,060 units in January, 2013.

The company's mid-sized sedan SX4 registered a decline of 81.1 per cent to 191 units as against 1,012 units in the same month last year. There was no sale of premium sedan Kizashi during the month.

Sales of utility vehicles, including Gypsy, Grand Vitara and Ertiga, stood at 4,763 units in January this year, down 21.9 per cent from 6,095 units in the corresponding month last year.

Sales of vans--Omni and Eeco rose by 11.6 per cent to 9,345 units in January this year as compared to 8,374 units in the same period of previous year. Exports during the month declined by 47.7 per cent to 5,847 units as compared to 11,179 units in January last year, MSI said.

Maruti Suzuki stock price

On January 31, 2014, Maruti Suzuki India closed at Rs 1635.35, down Rs 2.65, or 0.16 percent. The 52-week high of the share was Rs 1864.00 and the 52-week low was Rs 1217.00.

The company's trailing 12-month (TTM) EPS was at Rs 106.68 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 15.33. The latest book value of the company is Rs 615.03 per share. At current value, the price-to-book value of the company is 2.66.

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India's trade jumps 5-fold to USD 792bn over 9 years: Govt

India's merchandise trade rose over five-fold to USD 792 billion over last nine years, the Commerce Ministry today said.

"This was achieved through robust policy announcements, which provided crucial support to struggling enterprises, especially labour intensive industry to ensure their global competitiveness," the Ministry said in a statement.

It said that over the last nine years, the total merchandise trade increased to USD 792 billion from USD 142 billion.

"India's external economic engagement has been considerably enhanced over the last nine years. The Foreign Trade Policy is focused on arresting and reversing the decline in exports," it added.

Also read: Govt revises FY13 GDP growth to 4.5%  

The ministry said the market diversification strategy to enhance exports has yielded positive results.

Due to demand slowdown in its traditional markets, the government provided incentives to exporters to explore non-traditional destinations such as Africa, Latin America and Asia.

During April-December this fiscal, the country's exports aggregated USD 230.3 billion and imports USD 340.3 billion, translating to a trade deficit of USD 110 billion.

In 2012-13, exports stood at USD 300.6 billion as compared to USD 63.8 billion in 2003-04, it said adding that the total trade of goods and services stands at around USD 1 trillion annually, which comes to 56 per cent of the GDP.

Further, it said that exports from Special Economic Zones(SEZs) have increased to USD 87.55 billion in 2012-13 fiscal.

In the past four years, exports from SEZs have grown four-fold. SEZs at present are providing direct employment to about 11,50,000 persons, it said.

The Ministry said implementation of free trade agreements have also helped in boosting the country's total trade.

"We are at an advanced stage of concluding an ambitious Broad based Trade and Investment agreement with EU. We expect that as a result of these agreements, Indian exports will be able to gain significant market access in newer territories".

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Week that was: Maruti`s idea; Kejriwal`s power woes

SLIDESHOW

Sat, Feb 01, 2014 at 17:07

| Source: Moneycontrol.com

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Godrej Consumer Q3 net jumps 14% but margin slips 110 bps

Consolidated net sales rose 16.8 percent to Rs 1,978.8 crore from Rs 1,693.8 crore during the same period.

Moneycontrol Bureau

Godrej Consumer Products ' third quarter consolidated net profit grew 13.8 percent to Rs 195.7 crore compared to a year ago period, supported by higher revenues.

Consolidated net sales rose 16.8 percent to Rs 1,978.8 crore from Rs 1,693.8 crore during the same period.

Earnings before interest, tax, depreciation and amortisation jumped 9.25 percent year-on-year to Rs 307 crore but operating profit margin declined 110 basis points to 15.5 percent due to higher expenses in the quarter gone by.

Advertisement and publicity expenses increased to Rs 227 crore from Rs 184 crore and other expenses jumped to Rs 337 crore from Rs 305 crore on yearly basis.

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Sobha Developers Q3 profit up 11%, margin fallls 460 bps

Earnings before interest, tax, depreciation and amortisation rose 8.8 percent to Rs 149 crore but operating profit margin fell 460 basis points to 27.4 percent on higher expenses year-on-year.

Moneycontrol Bureau

Bangalore-based real estate company Sobha Developers ' third quarter consolidated net profit grew 11 percent to Rs 58.3 crore on higher revenues compared to same quarter last year.

"We are bullish about the industry and the markets in which we operate. We have scheduled 11 million square feet of new launches in the coming four to five quarters. We also plan to enter the Kochi market in Kerala during FY14," JC Sharma, VC and MD said.

Total income from operations increased 26.6 percent to Rs 544.3 crore from Rs 430 crore during the same period.

Earnings before interest, tax, depreciation and amortisation rose 8.8 percent to Rs 149 crore but operating profit margin fell 460 basis points to 27.4 percent on higher expenses year-on-year.

Total expenses jumped 34 percent to Rs 412.5 crore.

The company generated Rs 162 crore of operational cash flows compared to Rs 111 crore in the previous year.

Meanwhile, during the quarter Sobha Developers launched two new projects measuring 0.46 million square feet. One project in Coimbator called "elan" (joint development residential project between company and Lakshmi Machine Works) having a total saleable area of 0.32 million square feet and second project is a plotted development in Mysore "Sobha Estate".

"Both our launches in the quarter have met with good response," JC Sharma said.

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Merck Q3 net profit halves to Rs 9.4 cr on higher expenses

However, net sales grew 20.5 percent to Rs 194.2 crore from Rs 161.2 crore during the same period, driven by both businesses pharmaceutical and chemical.

Moneycontrol Bureau

Merck 's third quarter net profit halved to Rs 9.4 crore from Rs 20 crore compared to same quarter last year, impacted by weak operational performance.

However, net sales grew 20.5 percent to Rs 194.2 crore from Rs 161.2 crore during the same period, driven by both businesses pharmaceutical and chemical.

Total expenses shot up 31 percent to Rs 189.87 crore year-on-year on account of higher employee and depreciation cost.

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Unusual winter weather gripping India

Every year newer records are set in the winter in India with either the days recording the coldest temperature, fog hitting every aspect of life and winter rain and hail damaging or boosting crop yields. However this year has been rather unusual not just for the severity of these winter traits but for their rarity. Here's a look at some of the few unusual winter phenomenons observed in many parts of the country:

Where's the fog? - This is what most of us were shouting till the mid of the December this year. Fog in Delhi and North India which begins from November itself, was nowhere to be seen till the mid of December this year. And the first thick fog occurrence (only for a short duration) was only towards December end when a spell of rain provided enough moisture for fog to form. All the major fog occurrences with visibility dropping to nil have only been observed in January, with around 3 to 4 days of dense/very dense fog which lasted up to 11 am.

Why is it so cold here! - While it was unusual for fog to not have occurred in Delhi and North India, it was highly uncommon for frequent fog incursions of fog right up to Bhopal in Madhya Pradesh. What's more unheard was very dense fog. This not only crippled normal life in the city and adjoining areas but also led to a drop significant temperature drop (4 to 6 degrees) in the maximums of north and central Madhya Pradesh. You bet, daytime has never been soooo cold in M.P!

Rain? In the Winter? - Asked for winter and got winter rain instead. People in Mumbai are quite used to the cold spells in the winter season as a result of the biting cold weather up in the North, with minimums dropping to around 11⁰C in the month of December. While Mumbaikars, eager to wear winter clothes were surprised to witness the spell of winter weather in January, they were even more surprised when cold days were followed by winter rain, a rare weather phenomenon. This rain had occurred because of a trough off and along the coast of Maharashtra. Severe winter and winter rain pose severe threat to grape crop in Maharashtra every year.

From no snow to too much snow - The said 'jannat' in India, the magnificent Kashmir which is famous for its snowy scenery received no snow in the thick of winter. Weathermen, scientists, travellers and locals, were all worried as there was no snow till the 20th of December. This happened due to less number of Western Disturbances. But then it began to snow, and when it did, it broke all records. In the month of January, life came to a halt in Jammu and Kashmir when several cities included, reported more than 100 mm of rain/snow. Snowfall was very heavy in Himachal Pradesh too. In a span of just two days, Shimla had received over 30 cm of snow, heaviest in years.

Feels like Summer - While the entire country was witnessing cold winter weather, it felt like a second summer along the west coast in South India, in the peak winter month of January. Maximums were and still are seen settling in the mid-thirties, touching 37⁰C at times. There were days when tourists had to return to their respective hotels to avoid getting terribly tanned and in the heat of the day. Cool and breezy winds at night were the only reminder of winter season, offering a stark contrast in the temperatures of the day and the night. Lack of any rain and flow of dry and warm land winds caused this heated change in this part of the country.

Photo by Ritika Acharya.

By: Skymetweather.com

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