NEWS CORNER
1.
Hindalco, reported 43 percent
rise in the net profit for June quarter at Rs 413.5 crore, against Rs 289.5
crore that the company reported last year. Its revenues grew 8.4 percent at Rs
10,593 crore against Rs 9,775 crore seen during the corresponding quarter of
last year. At an operating level, the earnings before interest, taxes,
depreciation and amortisation (EBITDA) rose 15 percent at Rs 1,325 crore
against Rs 1,153 crore year on year. The operating margin came in at 12.5
percent against 11.8 percent YoY.
2.
India’s largest lender, State
Bank of India, has reported a net loss of Rs 4,876 crore for the June quarter. The
bank reported loss on the back of jump in provisions as well as accounting for
all of its treasury losses during the quarter.
The bank’s provisions stood at Rs 19,228 crore against Rs 28,096 crore
in the previous quarter. It reported provisions of Rs 8,929 crore during the
corresponding quarter of last year.
3.
CreditAccess Grameen’s initial
public offering (IPO) was subscribed 86 percent so far on Day 3 of bidding. The
IPO, worth Rs 1,131 crore, got bids for 1.62 crore shares against a total issue
size of 1.88 crore shares, data available with NSE, as of 12:45 pm, revealed.
4.
Share price of Bosch added 3.7
percent as company reported strong numbers in the quarter ended June 2018
(Q1FY19). The company's Q1 net profit rose 42.4 percent at Rs 431 crore against
Rs 302.6 crore in a year ago period. Revenue was up 21.3 percent at Rs 3,212
crore versus Rs 2,648 crore.
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