TOP CORPORATE NEWS - 19 MAY 2016

CESC Q4FY2016: In line numbers; earnings remain flat

CESC Q4FY2016 result first cut: In line numbers; earnings remained flat at Rs248 crore in this quarter

CESC reported flattish earnings in line with our estimate; PAT was at Rs 248 crore in Q4FY2016 Vs Rs244 Cr (YoY)

EBITDA Margin At 32.2%

Total Income At Rs.1,479 Cr

The revenue was up by 5% YoY; investor should take a note that this quarter result includes one off for period tariff adjustment like that of in Q4FY2015.

Lupin Q4 beats estimates

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

Standalone

For the Quarter ended March 31, 2016

The Company has posted a net profit of Rs924.93 crore Vs Rs407.70 crore.

Total Income has increased from Rs2198.12 crore Vs Rs3295.03 crore.

Castrol India drops as promoter divests 7% stake

Shares of Castrol India dropped over 3% to Rs373 on NSE on reports that the promoter (BP) is divesting 7% stake in the company viz 34.62 million shares with an upside option of 3.5% stake viz 17.31 million shares in the price range of Rs355-385.25 per share.

The lower price ranged it as a discount of about 8% to the closing price of Rs385.25. Stake sale by promoters is negative for the company.

Indiabulls Housing Finance to raise fund via debentures

Indiabulls Housing Finance said that it will raise Rs50 crore through issue of debentures on private placement basis.

The company proposes to issue 500 Secured Non-Convertible Redeemable Debentures with a face value of Rs10 lakh each aggregating to Rs50 crores plus Greenshoe Option, on Private Placement basis.

The issue will open on May 23 and will also close on the same day.

Torrent Power Q4 consolidated net profit down 85% (YoY)

Torrent Power 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 Rs17.06 crore Vs Rs369.43 crore.

Total Income is Rs2513.70 crore Vs Rs2694.63 crore.

                                    

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