Category: Breaking Corporate India Earnings News

After successfully winning the Sasan ultra mega power project in Madhya Pradesh, for setting up the 4,000 mega watts plant in Madhya Pradesh, Reliance Energy has emerged as the sole bidder for a Damodar Valley Corporation (DVC) power project in Purulia district of the West Bengal.

Reliance Energy is due to sign a letter of intent with DVC within a fortnight for 1,300 MW coal based power plant. The company is planning to invest Rs 5,000 crore over the next three years in the project.

Reliance Energy’s investment in Sasan UMPP is expected to be Rs 20,000 crore.

Buy Reliance Energy on Decline.

Apollo Hospitals Enterprise has announced that the company has been in negotiation with British American Investment (Mauritius) (BAI) for associating in a joint venture for setting up a multi speciality hospital on a state land provided by Government of Mauritius. The joint venture company, British American Hospitals Enterprise (BAHEL) has been formed and joint venture agreement between the company, BAI, BAI Medical Centres (BMCL), subsidiary of BAI. The said BAHEL has been entered into on 31 July 2007 in this regard. The company will be holding 26% of the total equity capital of joint venture company and the balance 74% will be held by BMCL.

Net profit of Indian Hotels Company rose 42.23% to Rs 54.76 crore in Q1June 2007 over Q1 June 2006. Sales were up 34.65% to Rs 346.50 crore Q1 June 2007 over Q1 June 2006.

The current market price of Rs 140.15 discounts its Q1 June 2007 annualised EPS of Rs 3.63, by a PE multiple of 38.6.

VSNL’s net profit rose 18.22% to Rs 104.16 crore in Q1 June 2007 over Q1 June 2006. Total income soared 88.49% to Rs 1035.45 crore in Q1 June 2007 over Q1 June 2006.

The current market price of Rs 448 discounts its Q1 June 2007 annualised EPS of Rs 14.62, by a PE multiple of 30.64.

Divi’s Laboratories’ net profit rose 151.5% to Rs 67.28 crore in Q1 June 2007 over Q1 June 2006. Sales moved up 41.8% to Rs 228.07 crore in Q1 June 2007 over Q1 June 2006.

Hyderabad-based Divi’s Labs makes generic bulk drugs and offers customs chemical synthesis or drug development services to innovator drug firms.

Aditya Birla Nuvo’s net profit slid 53% to Rs 26.46 crore in Q1 June 2007 over Q1 June 2006. Sales declined 5.4% to Rs 740.96 in Q1 June 2007 over Q1 June 2006.

Aditya Birla Nuvo’s principal activities are manufacturing viscose filament yarn, carbon black, branded apparels, textiles and insulators.

i-flex Q1 net profit fell sharply to mere Rs 41.5 cr versus Rs 77 crore on QoQ basis (US GAAP). i-flex net sales also declined to Rs 532 crore versus Rs 579.4 crore, on QoQ basis. (US GAAP)

Other Quarterly News Flash Available to DalalStreet.Biz are as follows,
Rakesh Jhunjunwala held Praj Industries Q1 PAT Rs.28cr (+238%yoy)
Vijay Mallya Controlled United Spirits Q1 PAT Rs.88cr (+151%yoy)
BharatBijlee Q1 PAT Rs.12.6cr (+194%yoy)
Despite weakening Auto Sales, AmarRaja Q1 PAT Rs.18cr (+90%yoy)

Hindustan Unilever board which met this evening authorized a share BUY-Back scheme at Rs 230 / share, aggregating to an amount of Rs 630 crore.

The buyback is proposed to effectively utilise the surplus cash, and make the balance sheet leaner and more efficient to improve returns.