TOP CORPORATE NEWS - 03 MAY 2016

TVS Motor slumps as Q4 earnings miss estimates

Shares of TVS Motor dropped over 12 % to Rs280 on NSE after its Q4 Net Profit rose 30.1% at Rs117.8 Cr Vs Rs90.5 Cr (YoY)

TVS Motors Q4FY16 results review: Operating performance misses estimates; Net Profit in line due to higher other income and lower taxation.

Total Income +15.2% at Rs.2, 815 Cr Vs Rs.2, 443 Cr (YoY)

EBITDA +19.4% at Rs.178.5 Cr Vs Rs.149.5 Cr (YoY)

EBITDA Margin At 6.3% Vs 6.1% (YoY)

Other Income at Rs.24.2 Cr Vs Rs.10 Cr (YoY).

MRF Q4 net profit up 13% (YoY)

MRF has announced the following Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (Unaudited)

The Company has posted a net profit of Rs375.90 crore Vs Rs332.62 crore (YoY).

Total Income increased to Rs3456.48 crore Vs Rs3332.77 crore (YoY).

Century Textiles Q4 net profit down 22% (YoY)

Century Textiles & Industries Ltd has announced the following Standalone Q4 & FY16 results for the quarter & year ended March 31, 2016:

For the Quarter ended March 31, 2016 (Unaudited)

The Company has posted a net profit of Rs9.16 crore Vs Rs11.81 crore (YoY).

Total Income decreased to Rs2059.28 crore Vs Rs2109.54 crore (YoY).

Maruti to launch LCV in H1FY17; eyes annual sales of 30k units

Maruti Suzuki is set to launch its light commercial vehicle (LCV) by August-September this year. The LCV project, codenamed Y9T, was first announced by the company in FY15 but put on indefinite hold due to design issues.

The new LCV is likely to have an 800 cc engine and compete with Tata Motors Ace and M&M’s Gio. Maruti, has reportedly shared its plan with top vendors in Thailand last week and is likely to be eyeing annual volumes of 30,000 units from this business.

Dr Reddy gets tentative approval for gAvandia tablets

Dr Reddy gets tentative approval for gAvandia tablets (rosiglitazone maleate), an antidiabetic drug – Positive for Dr Reddy.

                                     

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