STOCKS: BHEL Q1 other income Rs 4.92 bln vs Rs 3.27 bln on yr

M&M Q1 net profit falls 3%; Shares climb as earnings beat estimates

  Mahindra & Mahindra Ltd, the nation's biggest sports utility vehicle maker, said Friday fiscal first quarter net profit dropped 3.2% on weak sales. Shares rallied as profit and revenues beat consensus estimates.

   Net profit of the maker of Scorpio SUV rose to Rs 8.52 billion in the three months ended Jun 30 compared to Rs 8.81 billion in the same period a year ago, the company said in statement to the stock exchanges today.

   The automaker's net sales fell marginally by 2.9% to Rs 97.08 billion in the Apr-Jun period compared to Rs 100.06 billion in the corresponding period a year ago.

  Total expenses of the Anand Mahindra unit fell nearly 3.7% to Rs 88.10 billion in the first quarter.

   Automotive segment revenue of the Anand Mahindra-led group for the fiscal first quarter stood at Rs 62.59 billion compared to Rs 62.76 billion in the previous year while farm equipment sales fell to Rs 35.72 billion from Rs 38.93 billion in the same period.

 "While the consumer demand remains weak, the better than expected rain received in the monsoon season thus far, provides room for optimism on this front as well," Mahindra & Mahindra said in the note.

  The company's EBITDA margin expanded to 12.7% in Apr-Jun period from 12.4% a year ago compared to analysts' estimate of 11.4%

  Shares gained as net profit of the company came better than expected. Consensus estimates expected the auto maker to post a first quarter profit to fall 11.4% to Rs 7.84 bln while revenue was expected fall 2.8% to Rs 99.73 billion in the same period.

  Meanwhile, the company's consolidated net profits slipped 7.3% in the fiscal first quarter on weak sales and lower other income.

  Group net profit dropped to Rs 8.31 billion in the three months ended Jun 30 compared to Rs 8.96 billion for the same period a year earlier.

  The company's consolidated net sales slipped 3.8% to Rs 94.37 billion in the quarter while other income fell 19% to Rs 1.16 billion in the Apr-Jun period.

  At 2:45PM, shares of Mahindra & Mahindra jumped 4.46% to Rs 1,255 on the Mumbai stock exchange.

GOLD UP DATES

1	GOLD 1ST TARGET ACHIEVED	07/08/2015	12:22:18
2	BUY GOLD@24740 SL 24600 TARGET 24840/24940/25040	05/08/2015	17:31:10

India Oilseed Output Latest Soybean CY15 - 10.71 Mln Tn

 

Key Indian oilseeds annual output in million tonne for the crop year ending October. (Source: Solvent Extractors' Association of India, Ministry of Agriculture.)

 

             soybean     groundnut   rapeseed   sesame  castor   sunflower

                                              & mustard

  2014-15**   10.71        6.65       6.76      0.77    1.82       0.38

  2013-14*    11.86        9.71       7.88      0.72    1.73       0.50

  2012-13     14.67        4.70       8.03      0.69    1.96       0.54

  2011-12     12.21        6.96       6.60      0.81    2.30       0.52

  2010-11     12.74        8.27       8.18      0.89    1.35       0.65

  2009-10      9.96        5.43       6.61      0.59    1.01       0.85  

  2008-09      9.91        7.17       7.20      0.64    1.17       1.16  

  2007-08     10.97        9.18       5.83      0.76    1.05       1.46

  2006-07      8.85        4.86       7.44      0.62    0.76       1.23

  2005-06      8.27        7.99       8.13      0.64    0.99       1.44

  2004-05      6.87        6.77       7.59      0.67    0.79       1.19

  2003-04      7.82        8.13       6.29      0.78    0.80       0.93

  2002-03      4.65        4.12       3.88      0.44    0.43       0.87

  2001-02      5.93        7.03       5.08      0.70    0.65       0.68

  2000-01      5.28        6.41       4.19      0.52    0.88       0.65

  1999-00      7.08        5.26       5.79      0.48    0.77       0.69

  1998-99      7.14        8.98       5.67      0.53    0.84       0.94

  1997-98      6.46        7.37       4.70      0.57    0.83       0.89

  1996-97      5.38        8.64       6.66      0.60    0.89       1.27

 

** Third advance estimates for 2014-15 by agriculture ministry

*  Final estimates for 2013-14 by agriculture ministry

IVRCL Infra jumps on allotting shares to CDR lenders

  IVRCL Ltd, a Hyderabad based company, spurted Friday after the company announced that it has allotted shares to lenders in accordance to the restructuring agreement.

  Thursday, IVRCL has issued 24.15 million shares of Rs 2/share, at issue price of Rs 24.39/share to CDR lenders as the restructuring agreement, the company said in a statement to the stock exchanges after market hours.

 The allotment is towards conversion of the 4^th tranche of FITL into equity, for the quarter ended June 30,2015.

  At 11:40AM, shares of IVRCL advanced 2.7% to Rs 12.11 on the Mumbai stock exchange.