M&M Q1 net profit falls 3%; Shares climb as earnings beat estimates

  Mahindra & Mahindra Ltd, the nation's biggest sports utility vehicle maker, said Friday fiscal first quarter net profit dropped 3.2% on weak sales. Shares rallied as profit and revenues beat consensus estimates.

   Net profit of the maker of Scorpio SUV rose to Rs 8.52 billion in the three months ended Jun 30 compared to Rs 8.81 billion in the same period a year ago, the company said in statement to the stock exchanges today.

   The automaker's net sales fell marginally by 2.9% to Rs 97.08 billion in the Apr-Jun period compared to Rs 100.06 billion in the corresponding period a year ago.

  Total expenses of the Anand Mahindra unit fell nearly 3.7% to Rs 88.10 billion in the first quarter.

   Automotive segment revenue of the Anand Mahindra-led group for the fiscal first quarter stood at Rs 62.59 billion compared to Rs 62.76 billion in the previous year while farm equipment sales fell to Rs 35.72 billion from Rs 38.93 billion in the same period.

 "While the consumer demand remains weak, the better than expected rain received in the monsoon season thus far, provides room for optimism on this front as well," Mahindra & Mahindra said in the note.

  The company's EBITDA margin expanded to 12.7% in Apr-Jun period from 12.4% a year ago compared to analysts' estimate of 11.4%

  Shares gained as net profit of the company came better than expected. Consensus estimates expected the auto maker to post a first quarter profit to fall 11.4% to Rs 7.84 bln while revenue was expected fall 2.8% to Rs 99.73 billion in the same period.

  Meanwhile, the company's consolidated net profits slipped 7.3% in the fiscal first quarter on weak sales and lower other income.

  Group net profit dropped to Rs 8.31 billion in the three months ended Jun 30 compared to Rs 8.96 billion for the same period a year earlier.

  The company's consolidated net sales slipped 3.8% to Rs 94.37 billion in the quarter while other income fell 19% to Rs 1.16 billion in the Apr-Jun period.

  At 2:45PM, shares of Mahindra & Mahindra jumped 4.46% to Rs 1,255 on the Mumbai stock exchange.

GOLD UP DATES

1	GOLD 1ST TARGET ACHIEVED	07/08/2015	12:22:18
2	BUY GOLD@24740 SL 24600 TARGET 24840/24940/25040	05/08/2015	17:31:10

India Oilseed Output Latest Soybean CY15 - 10.71 Mln Tn

 

Key Indian oilseeds annual output in million tonne for the crop year ending October. (Source: Solvent Extractors' Association of India, Ministry of Agriculture.)

 

             soybean     groundnut   rapeseed   sesame  castor   sunflower

                                              & mustard

  2014-15**   10.71        6.65       6.76      0.77    1.82       0.38

  2013-14*    11.86        9.71       7.88      0.72    1.73       0.50

  2012-13     14.67        4.70       8.03      0.69    1.96       0.54

  2011-12     12.21        6.96       6.60      0.81    2.30       0.52

  2010-11     12.74        8.27       8.18      0.89    1.35       0.65

  2009-10      9.96        5.43       6.61      0.59    1.01       0.85  

  2008-09      9.91        7.17       7.20      0.64    1.17       1.16  

  2007-08     10.97        9.18       5.83      0.76    1.05       1.46

  2006-07      8.85        4.86       7.44      0.62    0.76       1.23

  2005-06      8.27        7.99       8.13      0.64    0.99       1.44

  2004-05      6.87        6.77       7.59      0.67    0.79       1.19

  2003-04      7.82        8.13       6.29      0.78    0.80       0.93

  2002-03      4.65        4.12       3.88      0.44    0.43       0.87

  2001-02      5.93        7.03       5.08      0.70    0.65       0.68

  2000-01      5.28        6.41       4.19      0.52    0.88       0.65

  1999-00      7.08        5.26       5.79      0.48    0.77       0.69

  1998-99      7.14        8.98       5.67      0.53    0.84       0.94

  1997-98      6.46        7.37       4.70      0.57    0.83       0.89

  1996-97      5.38        8.64       6.66      0.60    0.89       1.27

 

** Third advance estimates for 2014-15 by agriculture ministry

*  Final estimates for 2013-14 by agriculture ministry

IVRCL Infra jumps on allotting shares to CDR lenders

  IVRCL Ltd, a Hyderabad based company, spurted Friday after the company announced that it has allotted shares to lenders in accordance to the restructuring agreement.

  Thursday, IVRCL has issued 24.15 million shares of Rs 2/share, at issue price of Rs 24.39/share to CDR lenders as the restructuring agreement, the company said in a statement to the stock exchanges after market hours.

 The allotment is towards conversion of the 4^th tranche of FITL into equity, for the quarter ended June 30,2015.

  At 11:40AM, shares of IVRCL advanced 2.7% to Rs 12.11 on the Mumbai stock exchange.  

   

Pulses in Jaipur Physical Market Opened Weak

At Jaipur market , Chana Desi started the day weak at Rs. 4350 per quintal, down by 2.79 per cent as compared to previous day. Moong Desi started weak at Rs. 6100 per quintal, lower by 3.17 per cent from previous price level. Moth Local at Jaipur market opened lower at Rs. 6000 per quintal, lower by 4.76 per cent from previous dayn#39;s price level. Urad Local at Jaipur market opened at Rs. 6800 per quintal, steady as against previous close. Chawala Red at Jaipur market started the day at Rs. 3800 per quintal, steady against previous close. Pulses in Jaipur Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Jaipur Chana Desi 4350 -125 Jaipur Moong Desi 6100 -200 Jaipur Moth Local 6000 -300 Jaipur Urad Local 6800 0 Jaipur Chawala Red 3800 0 nnbsp;

Pulses in Jaipur Physical Market Opened Weak

At Jaipur market , Chana Desi started the day weak at Rs. 4350 per quintal, down by 2.79 per cent as compared to previous day. Moong Desi started weak at Rs. 6100 per quintal, lower by 3.17 per cent from previous price level. Moth Local at Jaipur market opened lower at Rs. 6000 per quintal, lower by 4.76 per cent from previous dayn#39;s price level. Urad Local at Jaipur market opened at Rs. 6800 per quintal, steady as against previous close. Chawala Red at Jaipur market started the day at Rs. 3800 per quintal, steady against previous close. Pulses in Jaipur Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Jaipur Chana Desi 4350 -125 Jaipur Moong Desi 6100 -200 Jaipur Moth Local 6000 -300 Jaipur Urad Local 6800 0 Jaipur Chawala Red 3800 0 nnbsp;

NSE TIPS

TATA MOTOR SELL BELOW @385 SL 390 TAREGT 380/375/370 07/08/2015 11:38:31

Mahindra & Mahindra, Tata Motors' Q1 net profit, margins to fall

 

 Mahindra & Mahindra Ltd., India's biggest sports utility vehicle maker, and Tata Motors Ltd., the maker of the Jaguar-Land Rover luxury car, are expected to says profit fell in the fiscal first-quarter and operating profit margin narrowed.

   Mahindra & Mahindra's margins are expected to be weak at 11.4% compared to 12.4% in the same period last year, Emkay Global said in a report.

  The automaker is expected to report a 11% drop in net profit to Rs 7.84 billion while net sales are expected to fall 2.8% to Rs 99.73 billion in the quarter.

  Meanwhile, Tata Motors is expected to report EBITDA margins at 15.2% in the first quarter compared to 18.2% in the same period last year, the report added.

  The company's net profit is expected to fall 44.9% to Rs 29.36 billion while net sales is expected to drop 6.7% to Rs 603.3 billion in the first quarter.

  At 11:15AM, Mahindra & Mahindra rose 1.21% to Rs 1,411.10 while Tata Motors climbed 1.50% to Rs 388.75 on the Mumbai stock exchange.The 30-share Sensex index rose 0.02% to 28,299.43.

Bombay Dyeing slips on reporting Q1 net loss on higher costs

  : Bombay Dyeing & Manufacturing Company Ltd., the flagship company of Wadia Group, slipped after reporting net loss in the fiscal first quarter on higher finance costs and weak sales.

  Net loss of the company stood at Rs 533.7 million in the three months ended Jun 30 compared to loss of Rs 536.3 million a year earlier and profit of Rs 1.78 billion a quarter ago, Bombay Dyeing said in a statement to the stock exchanges on Thursday after market hours.

  The company's net sales slipped 27.4% to Rs 3.93 billion in the Apr-Jun period while finance cost climbed 15.5% to Rs 628 million in the quarter.

  Other income of the company declined to Rs 40.2 million in the three months ended June compared to Rs 114.1 million a year earlier.

  Revenue from textile segment declined 34.7% to Rs 878.9 million in the quarter while revenue from polyester slipped to Rs 2.74 billion from Rs 3.94 billion a year earlier.

  At 11:35AM, Bombay Dyeing slipped 5.06% to Rs 82.60 on the Mumbai stock exchange.  

 

TNS STOCKS:Sun Pharma spurts as unit Taro's Q1 profit surges over one-fold

  Sun Pharmaceuticals Ltd, India's biggest drugmaker, gained Friday after its Israel unit Taro posted strong earnings for the first quarter.

  Thursday, Taro said that its first quarter profit surged 125% to $103.6 million in the June quarter from $46 million in the same period a year ago.

  Revenues in the quarter surged 65% to $215 million compared to 130.2 million in the same period a year ago.

  However, sales volumes declined 10% as a result of increase in competitor activity in United States.

  Parent Sun Pharma will unveil its first quarter earnings on Aug 11.

  At 11PM, shares of Sun Pharma gained 0.77% to Rs 853 on the Mumbai stock exchange.