TOP CORPORATE NEWS - 25 APR 2016

Ultratech Cement Q4FY2016 earnings grow 2.5% YoY

Ultratech posted standalone net sales of Rs6435.9 crore (+5% YoY) for Q4FY2016 on back of strong growth in volume.

The overall volume (cement + clinker+ white cement) has risen by 12% YoY to 13.6 million tone. The average blended cement realization decline by 6% YoY to Rs4738 per tone

In-spite decline in realization operating Profit Margin (OPM) remained flat at 20% on account of better operational efficiency and decline in fuel cost (down by 23% YoY on per ton basis). However increase in input cost resulted in decline of around 6% YoY in EBIDTA per ton to Rs3792.

Indiabulls Real Est Q4 consolidated net profit at Rs59 cr (YoY)

Indiabulls Real Estate has announced the following Q4 & FY16 audited results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net profit of Rs0.11 crore Vs Rs17.01 crore.

Total Income decreased to Rs90.34 crore Vs Rs86.98 crore.

Persistent Systems drops as Q4FY2016 margin disappoints

Shares of Persistent Systems dropped 4% to Rs719 on NSE post Q4FY2016 results despite strong revenues growth led by IP business momentum (integration of recent acquisition and IBM IOT partnership) as margins disappointed the Street.

Persistent reported sequential revenues growth of 12.0%, led by 57% QoQ growth in IPs led revenues, on account of integration of PRM Cloud solutions and two business units of Citrix systems and also some part of revenues booking from IBM IOT partnership, while IT services revenues grew marginally 0.7% to $72.1 mn.

Reliance Industries Strong petchem margins support Q4 earnings

Reliance Industries Ltd (RIL) reported another quarter of strong margin on both refining as well as petro-chemical segments.

In line with estimate, the operating performance was strong with a Y-o-Y growth of 24% and a sequential growth of 4%.

Also, its profit after tax (PAT) grew by 14% YoY and remained elevated like the last quarter at Rs7, 320 crore.

Apart from strong gross refining margin (GRM) of $10.8 per barrel, the petro-chemical margin remained robust at 14% in the low absolute product prices environment.

           

Bharti Airtel gains as board to consider buyback of shares

Shares of Bharti Airtel rose over 3%, touching to Rs363.85, after the company announced that its board of directors will consider a proposal for buyback of equity shares on April 27, 2016.

Bharti Airtel will also announce its Q4 March 2016 results on April 27, 2016. The board of directors at the time of announcement of its Q4 results will also consider payment of final dividend for the year ended 31 March 2016 on that day.

                             

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