India Cements Q1 net profit at Rs 40 cr

Auto component maker Bosch today posted 12.08% rise in its net profit at Rs 343.74 crore for the quarter ended June 30, 2015 aided by improving operational efficiency.

The total income from operations during the quarter was at Rs 9,234.58 crore, an increase of 6.05 per cent.

The company’s other operating income (net of excise duty) during the quarter increased over four-fold to Rs 123.08 crore as against Rs 28.75 crore in the year-ago period. In view of sluggish housing sales in last few years, DLF had earlier announced plans to raise over Rs.3,000 crore private equity funds at project levels to boost cash flows.

State-run Central Bank of India requires Rs 3,000 crore capital this year and plans to raise the same from the government and through the qualified institutional placement route. Net NPA ratio declined 42 basis points to 2.24 per cent from 2.66 per cent in Q1 of FY15. “We had given a guidance of 14 per cent credit growth”.

The India Cements’ earnings before interest, taxes, depreciation and amortisation (EBIDTA) grew to US$30.6m from US$25.5m in the same quarter of 2014.

“The company’s pan India presence continues to expand and we have received the letter of award from the government of Kerala for the development of the strategically located Vizhinjam port”, Adani Group chairman Gautam Adani said in a statement. Now, we need to understand what is the quality of slippages.

The company also plans to launch two Real Estate Investment Trusts (REITs) this fiscal to monetise its rent- generating commercial assets. “We will have to get the right valuation before the dial-up happens”, Bhattacharya said.