Trent net increases 36% to R17.34 crore
Tatas retail arm Trent reported a 36% increase in net profit at R17.34 crore for the April-June quarter, from a profit of R12.76 crore in the corresponding quarter last year. The companys revenue rose 16% to R241.4 crore from R207.09 crore in the year-ago quarter. During the quarter, the company opened four Westside stores, taking the total store count to 78. Total expenses rose 11% during the quarter.
Gujarat Pipavav Port net doubles to R35.2 crore
Gujarat Pipavav Port doubled its net profit at R35.2 crore during the April-June quarter, from a profit of R15.7 crore in the corresponding period last year, as total container cargo handled rose 17%. Net sales rose 19% to R122 crore during the quarter, from R102.5 crore in the same period last year. Our strategic location along the west coast of India and connectivity to key consumption markets of north are the key drivers of growth," Gujarat Pipavav Port MD Prakash Tulsiani said.
EID Parry India posts net loss of R72.31 crore
EID Parry India, part of the Murugappa Group and one of the leading sugar producer in India, reported a loss of R72.31 crore for the quarter ended June, compared with a net profit of R22.47 crore during the same quarter last fiscal. The loss has been due to R63.88-crore loss in its sugar division business due to lack of cane availability. The turnover, too, declined sharply to R403.13 crore during the quarter under review, against R576.46 crore reported in the same quarter of last fiscal.
DSCL Q1 net jumps over three-fold to R114 crore
Diversified group DCM Shriram Consolidated (DSCL) on Tuesday reported more than three-fold jump in the consolidated net profit to R114 crore for the first quarter ended June. The company had clocked a net profit of R31 crore in the same quarter a year ago. Total income increased by 8.5% to R1,549 crore during April-June period of this fiscal from R1,427 crore in the same quarter last year, DSCL said in a statement.
PVR Q1 net increases 80% to R13.60 crore
Riding on good ticket sales and price hike, multiplex chain operator PVR on Tuesday reported 79.89% jump in consolidated net profit at R13.60 crore for the first quarter ended June. The company had posted net profit of R7.56 crore in the April-June period of last fiscal, 2012-13. PVRs consolidated income from operations in Q1 was R334.45 crore, up 87.24% from R178.62 crore in the year-ago period. Revenue from movie exhibition went up by 111.46% to R313.08 crore, while movie production and distribution components declined 72.48% to R6.32 crore, the company said. PVR scrip closed at R340.65 on the BSE, down 0.5% from its previous close.
Shoppers Stop posts loss of R11.11 crore
Shoppers Stop reported a consolidated loss of R11.11 crore during the April-June quarter, from a loss of R11.24 crore in the corresponding period last year primarily due to losses from its Hypercity subsidiary. The company clocked in 13% higher retail turnover of R866.1 crore during the quarter from R764.5 crore in the year-ago quarter. On a standalone basis, net profit trebled to R1.64 crore. The departmental stores like-to-like sales grew 12%. Hypercity reported a loss of R24.7 crore for the quarter, from R21.3 crore in the same quarter last year.
Delhi HC extends relief to Cipla till August 27
Delhi High Court on Tuesday asked the Centre to give leeway to pharma major Cipla to follow government directive to replace stocks in the market with those carrying reduced prices within 45 days of notification as per the new DPCO 2013. The Centre has been asked not to take any coercive action against Cipla till August 27, the next date of hearing. Meanwhile, Sun Pharmaceutical Industries and the Confederation of Indian Pharmaceutical Industry (CIPI) also moved the court against the new pricing policy. The Ministry of Chemicals and Fertilisers through the National Pharmaceutical Pricing Authority (NPPA) had notified the fist list of reduced prices of 151 essential drugs under DPCO 2013 in June and the implementation of that order ended on July 29.