Companies

Second quarter snapshot: SpiceJet profit soars 78%

| Updated on January 09, 2018 Published on November 13, 2017

Mumbai: SpiceJet reported net profit of ₹104.53 crore for the September quarter, against ₹58.61 crore in the year-ago period, jumping 78 per cent year-on-year.

This is the airline’s eleventh successful profitable quarter and the highest in its history. The airline added capacity to the tune of 22 per cent over the same period.

Revenue rose 30 per cent over the same period, to ₹1798.44 crore. The company said its passenger yields (revenue per available seat kilometre) rose 7 per cent, while its average load factor across the network was 93.1 per cent. As part of its expansion plan, SpiceJet also confirmed its latest order for up to 50 Bombardier Q400 planes that was announced in the Paris Airshow, making it the largest single order ever for the Q400 turboprop aircraft program. Upon delivery, the airline may become the first in the world to operate a 90-seat turboprop, after certification by regulatory authorities.

The stock closed up 4.78 per cent at ₹149.10 on the BSE on Monday.

NTPC net down 2%

New Delhi: NTPC Ltd reported a ₹2,438.60-crore net profit, 2.3 per cent lower than the ₹2,498.98-crore net profit reported in the corresponding quarter of the previous financial year.

Total energy generation during the quarter was up 7.35 per cent at 65.04 billion units.

The fall in bottom line was despite a 1.8 per cent rise in total revenue to ₹19,960.35 crore during the quarter under consideration from ₹19,588.56 crore in the same quarter of the last financial year. Fuel costs too fell to ₹ 11,398.80 crore in the second quarter. This is 4.3 per cent lower from ₹11,912.97 crore fuel costs in the corresponding quarter of the last financial year.

The lower bottom line was on the back of higher finance costs and depreciation. Finance costs rose to ₹919.47 crore during the second quarter of the current financial year. This was higher by 3.3 per cent compared from the finance costs in the same quarter of the financial year 2016-2017.

Depreciation, amortisation & impairment expense rose to ₹1712.68 crore during the second quarter of the current financial year. This stood at ₹1434.15 crore during the same quarter of the last financial year.

Tata Chem profit rises 43%

Mumbai: Tata Chemicals has reported 43 per cent increase in net profit at ₹419 crore (₹293 crore) on the income from sale of asset and lower finance cost. Revenue from operations was down at ₹3,462 crore (₹3,486 crore).

The company has recorded ₹134 crore as exception income from the sale of its fertiliser units.

Similarly, it has logged in ₹81 crore as income from the sale of urea business to Yara Fertilisers.

On a standalone basis, net profit rose 76 per cent to ₹210 crore (₹119 crore) on lower expense. Its income from operations was down at ₹1,598 crore (₹1,614 crore). Its total expenses were down ₹1,338 crore (₹1,522 core) as it cut on inventory.

R Mukundan, Managing Director, said the company is pleased to have found a suitable partner to further build the fertiliser business.



Apollo Hospitals net dips

Chennai: Apollo Hospitals Enterprises Ltd has registered a 23 per cent decline in standalone net profit at ₹71 crore from ₹91.99 crore for the same time period last year. The company’s revenue grew 13 per cent to ₹1,852 crore against ₹1,644 crore. Revenue from healthcare services stood at ₹126.58 crore, a 5 per cent decline, against ₹134.3 crore. Pharmacies reported revenue of ₹28.18 crore, up 3 per cent, against ₹27.31 crore for the comparable quarter last year. According to a senior official from the hospital, the drop in profit is due regulation of stent prices by the Centre, implementation of GST and loss on account of new hospitals.

BGR Energy profit plunges

Mumbai: BGR Energy Systems has reported 89 per cent drop in its standalone net profit to ₹1.13 crore due to lower revenues. The company’s net profit was ₹10.70 crore in the corresponding quarter last year. T

otal income declined to ₹517.78 crore in the quarter from ₹837.50 crore a year ago.

Its income from construction and EPC (engineering, procurement, and construction) contracts dropped to ₹457.01 crore in the quarter from ₹779.30 crore a year ago.

The company’s net profit in April-September was also down at ₹10.99 crore from ₹19.36 crore in the corresponding period last fiscal. Total income in the first half also dropped to ₹1,417.62 crore from ₹1,688.90 crore.

Sunteck Realty net dives

Mumbai: Sunteck Realty has reported 35 per cent decline in its net profit at ₹62.12 crore for against ₹96.06 crore in the year-ago period. Total income rose to ₹351.07 crore from ₹211.68 crore. Kamal Khetan, CMD, said: “The second quarter of FY2018 has seen the transition to RERA and GST regime taking shape. We at Sunteck welcome these changes and are already seeing the customer differentiate between organised and unorganised developers. Our Bureaus

Published on November 13, 2017
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