Realty firm Housing Development and Infrastructure (HDIL) on Wednesday reported 85% fall in consolidated net profit at R16.25 crore for the quarter ended June on lower sales and higher finance cost. Profit stood at R105.38 crore in the year-ago period. Total revenue fell by 25% to R150.66 crore in the first quarter of this fiscal from R201.16 crore in the corresponding period of last fiscal, HDIL said.
Orchid Chemical Q1 loss widens to R54.50 crore
Orchid Chemicals and Pharmaceuticals has reported a net loss of R54.50 crore for the quarter ended June, compared with R50.80 crore loss in the same quarter last fiscal. The revenue during the quarter dropped 21% to R250 crore, against R317 crore in the same quarter last fiscal. For the 15-month period ended June, the net loss widened to R357 crore and the company has extended its fiscal by six months to September 2013, said a press release on Wednesday.
Cox & Kings Q1 net up 18% to R155.55 crore
Cox & Kings on Wednesday reported 18.08% increase in its consolidated net profit to R155.55 crore for the quarter ended June. The company had posted a net profit of R131.73 crore in the same quarter last fiscal, Cox & Kings said. However, the company?s net profit after taxes, minority interest and share of profit/(loss) of associates was down by 8% to R134.77 crore for the quarter under consideration, against R146.82 crore in the corresponding period previous fiscal.
Whirlpool Q1 net declines 23.17% to R49.59 crore
Consumer durables firm Whirlpool of India on Wednesday reported a 23.17% decline in net profit to R49.59 crore for the first quarter ended June as demand contracted. The company had posted a profit of R64.55 crore for the same period in the previous fiscal. Net sales fell to R855.89 crore from R872.14 crore a year earlier, Whirlpool said.
Srei Infra Finance Q1 net up over 2-fold to R47.22 cr
Srei Infrastructure Finance on Wednesday posted more than two-fold jump in profit at R47.22 crore for the first quarter ended June. The company had posted consolidated net profit of R17.42 crore in the same quarter of the previous fiscal. The total income on consolidated basis rose to 3% at R786.67 crore against R761.68 crore in the same quarter of the previous fiscal.
Infy independent director Leo Puri steps down
Infosys on Wednesday said that independent director Leo Puri has stepped down from the board effective August 14, following his appointment as managing director of UTI Asset Management. He joined the Infosys board on April 11, 2013. Infosys executive chairman NR Narayana Murthy said,
?Though Leo Puri?s association with Infosys has been a short one, we will definitely miss his vast knowledge and experience in the consulting and investment field.?
PIL seeks cancellation of RIL oil exploration contract
A PIL has been filed in the Supreme Court seeking a direction to the Centre to cancel the allotment of KG basin gas block to RIL and its partner NIKO Resources and also levy appropriate penalty for the Mukesh Ambani?s firm?s ?persistence failure in adhering to their commitments, deliberate underproduction, gold plating of expenditure by RIL and mala fide conduct?. The petition filed by Common Cause, an NGO, and others sought a
SC-monitored SIT or CBI probe into the government?s inaction against RIL. The petition, filed through counsel Prashant Bhushan, wants adjustment of the $7.2 billion premium collected by RIL from BP.
