Shriram Trans Q4: Net Profit at Rs144 Cr
Shriram Trans Q4: Net Profit at Rs144 Cr: Shriram Tran 927.75 -3.79%
NII at Rs1,475 Cr
Total Income at Rs2918 Cr Vs Rs2312.33 Cr (YoY)
FY16 net profit at Rs1178.20 Cr vs Rs1237.81 Cr (YoY)
FY16 total income at Rs10245.26 Cr vs Rs8644.73 Cr (YoY)
ICICI Bank Q4FY16 results: Asset quality deteriorates
ICICI bank has reported deteriorated asset quality for Q4FY16 as G NPA rose by 110 BPS to 5.82% QoQ as accounts worth around Rs7000 crore slipped into NPA, however RBI’s AQR has been completely taken into account.
The Bank reported a modest 6.4% growth in Net interest income while the non interest income was up by 46.1% YoY. Provisions rose sharply by 147.4% YoY owing to Rs3600 crore additional contingent provisioning done during the quarter.
Profit during the quarter came in at Rs702 crore (down 76% YoY) owing to higher provisioning. We currently have a hold rating on the stock and would come out with detailed note post management interaction.
Lupin surges on re-introducing Methergine Oral Tablets
Lupin rose over 2%, touching to Rs1617.65, after the company announced that its US subsidiary has re-introduced Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage.
Lupin and its US subsidiary, Lupin Pharmaceuticals, Inc. have announced the re-introduction of Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage (PPH). Methergine is the only FDA-approved oral uterotonic and is a preferred oral agent in the management of PPH, according to guidelines issued by the American Congress of Obstetricians and Gynecologists (ACOG).
Idea Cellular slumps post Q4FY16 earnings
Shares of Idea Cellular slumped 6% to Rs119.35 on NSE post Q4FY16 earnings which beat estimates but share price fell as volume growth remained soft.
Idea cellular posted strong operational performance, its operating profit grew by 15.6% on a sequential basis, backed by pricing growth in voice (+4.7% qoq) as well as data(+2.7% qoq) segment, but the growth volume growth tapered for both the segments at 1.2% and 1.5% qoq).
Higher depreciation & interest cost resulted in 24.7% qoq decline in net earnings.
Ajanta Pharma Q4 consolidated net profit up 43% (YoY)
Ajanta Pharma has announced the following audited Q4 & FY16 results for the quarter & year ended March 31, 2016:
Standalone (YoY)
For the Quarter ended March 31, 2016
The Company has posted a net profit of Rs135.71 crore Vs Rs84.31 crore.
Total Income increased to Rs443.26 crore Vs Rs371.68 crore.
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