On a consolidated basis, Cairn Indias net profit rose 12.5% to Rs 2261.93 crore on 12.1% increase in total income to Rs 3510.58 crore in Q3 December 2011 over Q3 December 2010.
EBITDA (earnings before interest, taxes, depreciation and amortization) rose 15% to Rs 2369.20 crore in Q3 December 2011 over Q2 September 2011, resulting into an EBITDA margin of 77%. The company has made a net forex gain of Rs 301.50 crore due to depreciation of rupee against the US dollar.
Rahul Dhir, Managing Director and Chief Executive Officer, Cairn India, said, The commencement of production from the Bhagyam field is yet another significant milestone for the Cairn-ONGC Joint Venture in Rajasthan. With the support of the Government of India and the Government of Rajasthan, the Cairn - ONGC Joint Venture is well placed to further develop the hydrocarbon-rich Barmer Basin in Rajasthan, increase of production and create value for our Nation. Our successive discoveries in Sri Lanka have established a working hydrocarbon system in the frontier Mannar Basin. This success demonstrates Cairn Indias strong skill set, which we will continue to leverage for future opportunities. We have also notified the Sri Lankan Government about our intention to enter the second phase of exploration. With the new board now in place, Cairn India remains well poised for the next phase of growth.
On a consolidated basis, Biocons net profit fell 15.79% to Rs 84.85 crore on 2.65% increase in total income to Rs 532.18 crore in Q3 December 2011 over Q3 December 2010. The company reported an EBITDA margin of 27% in Q3 December 2011.
Commenting on the results, Chairman and Managing Director Kiran Mazumdar-Shaw stated, Our performance in the first 3 quarters of FY12 has been good on the manufacturing & services fronts where profits were up nearly 29% (excluding licensing income). Licensing income, however, was sharply down from the exceptional levels recorded last fiscal which resulted in flat earnings overall. As I have frequently stated, licensing income is a timing issue and subject to periodic variability. We have seen exceptional growth in our Research Services business, an outcome of the strategic investments we have made in enhancing our integrated service offerings. Moving up the value chain is integral to our growth strategy which is reflected in the strong growth delivered by our Branded Formulations vertical. Our focus on Emerging Markets is also enabling us to realize a greater potential for our APIs and Insulins portfolios. Our R&D pipeline is advancing satisfactorily with 2 late-stage candidates and several early stage programs with enormous value creation potential through licensing. We have shaped our broad-based business into key growth verticals, which we believe will enable us to deliver sustainable, long-term value to our shareholders.
On a consolidated basis, Grasim Industries net profit rose 33.3% to Rs 669.07 crore on 16.1% increase in net sales to Rs 6260.07 crore in Q3 December 2011 over Q3 December 2010.
Tata Global Beverages, Tata Communications, L&T Finance Holdings, iGate Patni, Sesa Goa, Rural Electrification Corporation, PTC India Financial Services, Union Bank Of India, Bank pf Baroda, BEML, Alstom Projects India, Oracle Financial Services Software, Indian Hotels Company, IRB Infrastructure Developers, J.B.Chemicals & Pharmaceuticals, Future Capital Holdings, Sterlite Technologies, Supreme Industries, Surana Corporation, Marg, Raj Television Network, Mirc Electronics, Mro-Tek, Muthoot Capital Services, Excel Crop Care, Himatsingka Seide, Jindal South West Holdings, Kirloskar Ferrous Industries and Kirloskar Industries, among others, will declare their October-December 2011 quarter results today, 25 January 2012.
An Indian consortium led by ONGC Videsh (OVL), the overseas arm of state-owned ONGC, is reportedly in talks with Russias OAO Novatek to acquire a 15% stake in its subsidiary OAO Yamal LNG for developing a natural gas field. According to reports, the transaction will also include tie-up for a natural gas liquefaction project and joint marketing of liquefied natural gas (LNG).
Hindustan Unilever (HUL) is reportedly planning to sell or rent its former headquarters in the Churchgate area here. Report suggested that although HUL started the process of renting or selling the 153,000-square feet (sq ft) HUL House almost two years ago, it could not conclude any deal due to valuation issues. According to reports, HUL is expecting a rent of Rs 200-250 per sq ft or a capital value of Rs 300 crore.
Net profit of Kalindee Rail Nirman Engineers rose 71.91% to Rs 3.06 crore in the quarter ended December 2011 as against Rs 1.78 crore during the previous quarter ended December 2010. Sales rose 127.09% to Rs 81.73 crore in the quarter ended December 2011 as against Rs 35.99 crore during the previous quarter ended December 2010.
Net profit of Granules India declined 4.94% to Rs 5.96 crore in the quarter ended December 2011 as against Rs 6.27 crore during the previous quarter ended December 2010. Sales rose 41.19% to Rs 155.56 crore in the quarter ended December 2011 as against Rs 110.18 crore during the previous quarter ended December 2010.
Net profit of Godawari Power & Ispat declined 64.47% to Rs 7.45 crore in the quarter ended December 2011 as against Rs 20.97 crore during the previous quarter ended December 2010. Sales rose 94.11% to Rs 421.97 crore in the quarter ended December 2011 as against Rs 217.39 crore during the previous quarter ended December 2010.
HMT reported net loss of Rs 30.98 crore in the quarter ended December 2011 as against net loss of Rs 21.34 crore during the previous quarter ended December 2010. Sales declined 61.47% to Rs 18.06 crore in the quarter ended December 2011 as against Rs 46.87 crore during the previous quarter ended December 2010.
Net profit of Indiabulls Real Estate declined 65.80% to Rs 6.68 crore in the quarter ended December 2011 as against Rs 19.53 crore during the previous quarter ended December 2010. Sales rose 30.79% to Rs 48.26 crore in the quarter ended December 2011 as against Rs 36.90 crore during the previous quarter ended December 2010.
Net profit of Indraprastha Gas rose 2.92% to Rs 69.15 crore in the quarter ended December 2011 as against Rs 67.19 crore during the previous quarter ended December 2010. Sales rose 45.49% to Rs 661.54 crore in the quarter ended December 2011 as against Rs 454.71 crore during the previous quarter ended December 2010.
Net profit of Mangalore Refinery And Petrochemicals declined 65.02% to Rs 109.75 crore in the quarter ended December 2011 as against Rs 313.76 crore during the previous quarter ended December 2010. Sales rose 25.30% to Rs 12930.83 crore in the quarter ended December 2011 as against Rs 10319.82 crore during the previous quarter ended December 2010.
Net profit of Greaves Cotton declined 22.98% to Rs 34.16 crore in the quarter ended December 2011 as against Rs 44.35 crore during the previous quarter ended December 2010. Sales rose 10.82% to Rs 464.35 crore in the quarter ended December 2011 as against Rs 419.00 crore during the previous quarter ended December 2010.
Net profit of Nilkamal rose 17.29% to Rs 13.57 crore in the quarter ended December 2011 as against Rs 11.57 crore during the previous quarter ended December 2010. Sales rose 12.83% to Rs 343.14 crore in the quarter ended December 2011 as against Rs 304.13 crore during the previous quarter ended December 2010.
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