Companies

NMDC net up 78% at ₹1,577 cr

Our Bureau Hyderabad | Updated on January 31, 2019

The iron ore mining major registered a turnover of ₹3,649 crore ( ₹2,469 crore).

NMDC has registered a profit of ₹1,577 crore for the third quarter ended December 31, 2018 as against ₹887 crore for the corresponding quarter of previous year, thereby registering a growth of 78 per cent.

The iron ore mining major registered a turnover of ₹3,649 crore ( ₹2,469 crore).

Recently, the board approved buyback of 10,20,40,815 equity shares of ₹1 each at at ₹98 per share for an aggregate consideration not exceeding ₹1,000 crore. The company has already initiated the process of buyback.

Billionaire Anil Agarwal-owned Vedanta reported a 21-per cent fall in December quarter net profit at ₹1,574 crore against ₹1,994 crore posted in the corresponding quarter previous fiscal due to higher cost and lower realisation across business. Net sales were down three per cent at ₹23,669 crore (₹24,361 crore) due to shut-down of copper smelter at Thoothukudi and lower commodity prices, partially offset by currency depreciation and higher volumes at electrosteel and aluminium business. Its Ebitdawere down at ₹5,953 crore (₹6,677 crore). Finance cost of the company was up 21 per cent at ₹1,358 crore (₹1,125 crore) due to higher borrowings and increase in interest rates. The company had net debt of ₹39,531 crore and cash reserve of ₹30,530 crore as of December-end.

Power Grid Corporation of India has reported a net profit of ₹2,331.17 crore for the quarter ending December 31, 2018. This is 14 per cent higher than the ₹2,040.83-crore profit reported by the company in the corresponding quarter last fiscal. Total income during the quarter stood at ₹8,890.21 crore (₹7,785.04 crore). Transmission income during the quarter was at ₹6,680.30 crore (₹6,086.48 crore).

Petronet LNG’s net profit stood at ₹565.31 crore for the third quarter of financial year 2018-19. This is 6.9 per cent higher than the ₹528.79-crore reported by the company in the same quarter last fiscal. Total revenue for the company rose to ₹10,186.18 crore (₹7,798.46 crore).

Home-grown FMCG major Dabur India’s standalone net profit rose by 17.6 per cent for the quarter ended December 31, 2018, to ₹312.1 crore from ₹265.5 crore in the corresponding quarter of the previous fiscal. Standalone revenues for the third quarter grew by 14.8 per cent to ₹1,664.5 crore. The board on Thursday approved the appointment of Mohit Malhotra as the new CEO with effect from April 1. He will take over from Sunil Duggal, who has been the company’s CEO for the past 17 years. Duggal will remain a Whole-Time Director till May 15 and then as a Non-Executive Director till July 30, 2020.

Emami Ltd reported a 6-per cent decline in consolidated net profit to ₹138 crore for the period ending December 31, 2018. Net profit in the year-ago-period stood at ₹147 crore. Pay-out of a one-time VRS of approximately ₹10 crore at one of the units led to the decline, the company said in a statement.

Revenue from operations during the quarter saw a seven-per cent rise to ₹811 crore. On a standalone basis, the company’s net profit dipped by 8 per cent to ₹138 crore as against ₹149 crore in the year-ago-period. Net sales stood at ₹759 crore, up by 6 per cent.

During the quarter under review, gross margins stood at 67 per cent and declined by 380 basis points compared with the corresponding quarter last fiscal. EBIDTA margins stood at 32.9 per cent witnessing a decline of 210 basis points, over the same period last year.

has posted a profit of ₹25.50 crore for the third quarter ended December 31, 2018 — up 63.67 per cent as against ₹15.58 crore registered in the corresponding quarter of previous year.

for the quarter under review, the company reported a revenue of ₹735.72 crore ( ₹579.45 crore).

Solar Industries, a packaged explosive manufacturing company for mining and military, has recorded a 28-per cent increase in net profit at ₹74 crore in the December quarter against ₹58 crore logged in the same period last year on the back of better supply to defence sector.

Sales during the quarter was up 40 per cent at ₹653 crore (₹466 crore). Delivery to defence sector more than tripled to ₹41 crore from ₹10 crore. The company has an order book of ₹430 crore from defence sector.

(With reports from our New Delhi, Mumbai bureaus)

Published on January 31, 2019

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