Companies

Despite slump in auto market, Wheels India nets ₹20-cr profit

Our Bureau Chennai | Updated on May 30, 2019 Published on May 29, 2019

Srivats Ram, MD, Wheels India Ltd, at a press conference in Chennai, on Wednesday   -  Bijoy Ghosh

Amid a slump in the domestic automobile market, Wheels India, a leading manufacturer of steel wheels for trucks, recorded a net profit of ₹19.7 crore for the fourth quarter of FY2019, a marginal increase from ₹19.5 crore registered for the corresponding quarter in the previous fiscal.

Revenue from standalone operations for the quarter stood at ₹855 crore — up by 21 per cent from the previous year’s₹705 crore. For the full year, the company’s revenue stood at ₹3,189 crore (₹2,517 crore) , while net profit for the period was at ₹75.7 crore (₹71.8 crore).

Wheels India’s export income increased from ₹384 crore in 2017-18 to ₹608 crore in 2018-19. “But we expect exports to remain flat during FY19-20,” said Srivats Ram, MD, Wheels India Ltd.

On domestic front, Ram said the demand is muted since the middle of last fiscal which is expected to improve with the new government which is expected to focus on infrastructure development.

“The slowdown in the domestic market was so sudden and by the time it started (from November), most of our capex was already committed,” said Ram. Wheels India made a capex of ₹144 crore during the previous financial year and also started operations in two new plants.

Power Grid Corporation of India Limited (PGCIL) has reported a net profit of ₹3,053.96 crore for the fourth quarter ended March 31, 2019. This represents a 52 per cent increase over the net profit of ₹2,010.31 crore recorded in the same quarter of the previous financial year.

Total income during the quarter under review rose by 18.79 per cent to ₹9,610.24 crore.

The company board has recommended a final dividend of 25 per cent (₹2.5 on equity share of ₹10 each) for the fiscal year 2018-19. On a consolidated basis, in the financial year 2018-19, the total income was at ₹35,661.32 crore (₹30,430.54 crore), registering an increase of 17.19 per cent.

Consumer electrical and electronics major V-Guard Industries Ltd has posted a 115 per cent increase in net profit at ₹59.24 crore compared to ₹27.58 crore in the corresponding period of previous year.

The consolidated PAT for the whole year was at ₹167.23 crore — an increase of 24.6 per cent over the previous year (₹134.26 crore).

The standalone net revenue from operations for the quarter ended March 31 was up by 12 per cent at ₹739.69 crore (₹658.61 crore). The consolidated net revenue from operations for the whole year was ₹2,594.44 crore (₹2,335.26 crore).

The board has recommended dividend of 80 paise (80 per cent) per equity share for the financial year 2018-19.

Cadila Healthcare Limited posted a standalone net profit of ₹262 crore for the quarter ended March 31, 2019, up about 8 per cent from ₹243 crore in the corresponding quarter a year ago.

Total revenues for the quarter stood at ₹1,714 crore (₹1,501 crore). For the financial year 2018-19, the company’s standalone net profit was at ₹1,602 crore (₹1,091 crore). Total standalone revenues for the year stood at ₹7,104 crore against ₹6,031 crore last year. The board has recommended a dividend of ₹3.50 — or 350 per cent — per equity share of ₹1 each for the financial year.

On a consolidated basis, the company registered net profit of ₹460 crore for the March quarter, down from ₹591 crore in the same quarter last year. Total consolidated revenues stood at ₹3,771 crore, up from ₹3,282 crore in the corresponding quarter last year.

For the fiscal 2018-19, the consolidated net profit stood at ₹1,849 crore ( ₹1,776 crore). Total revenues reported at ₹13,367 crore, up from ₹12,068 crore last year.

Aurobindo Pharma Ltd’s net profit increased 10.8 per cent at ₹585 crore for the March quarter against ₹528 crore in the corresponding quarter of the previous year.

Total revenue grew by 30.7 per cent at ₹5,292 crore (₹4,049 crore), mainly driven by growth in the US revenue, among others.

For the full fiscal, Aurobindo posted a 2.4 per cent decrease in net profit at ₹2,365 crore (₹2,423 crore), even as total revenue went up 18.6 per cent at ₹19,563 crore (₹16,500 crore). The earnings per share (basic and diluted) was at 40.36.

RITES Ltd, the transport infrastructure consultancy and engineering firm, has registered a net profit of ₹132 crore for the quarter ended March 2019 — up 70 per cent over ₹77.45 crore against the corresponding quarter previous fiscal.

Total revenue has gone up by 33.3 per cent to ₹762 crore for the quarter under review.

Rajeev Mehrotra, CMD, RITES, said in a release, “Certain exports lined up for March 2019 have spilled over to first quarter, FY20. Exports business has a healthy order book of ₹1,086 crore, and it is expected to pick up from this financial year.” The board of directors has recommended a final dividend of ₹4 per share.

State-run Gujarat Alkalies and Chemicals Limited (GACL) posted a net profit of ₹170 crore for the quarter ended March 2019, against ₹221 crore in the corresponding quarter a year ago, indicating a decline of about 23 per cent on year-on-year basis.

The company’s turnover for the quarter stood at ₹803 crore against ₹684 crore last year. GACL’s Profit Before Tax was ₹249 crore (₹320 crore).

For the fiscal 2018-19, the company achieved sales turnover of ₹3,102 crore (₹2,418 crore). The net profit for the year stood at ₹690 crore — up from ₹535 crore due to improvement in the margins.

Renaissance Global Ltd, a luxury lifestyle products company, has posted a 54 per cent rise in net profit to ₹12.9 crore for the fourth quarter ended March 31, compared with ₹8.36 crore recorded during the same period a year ago. For the reporting quarter, the firm’s revenue rose 57 per cent to ₹707.2 crore ( ₹450.5 crore).

Zydus Wellness, an arm of the Zydus Cadila Group, registered a standalone net loss of ₹10 crore for the quarter ended March 2019, against net profit of ₹36 crore reported in the corresponding quarter a year ago. The company’s total standalone income stood at ₹65 crore, as against ₹77 crore reported in the same period last year.

For FY2018-19, standalone net profit stood at ₹96 crore ( ₹134 crore). Total standalone income for the year stood at ₹315 crore against ₹292 crore in the previous year.

Zydus posted a consolidated net profit of ₹62 crore (₹36 crore) for the quarter under review. Total consolidated income for the quarter stood at ₹425 crore (₹141 crore).

For the year 2018-19, the company posted consolidated profit of ₹169 crore (₹134 crore), while the total consolidated income increased to ₹882 crore (₹556 crore).

With inputs from our New Delhi, Kochi, Hyderabad and Ahmedabad bureaus

Published on May 29, 2019
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