Eveready Industries posts dip in Q3 net to Rs 19.71 lakh
Batteries and flashlights maker Eveready Industries on Thursday reported a multi-fold decline in standalone net profit to Rs 19.71 lakh in the third quarter ended December 31, hit by cost of separation workers at Chennai plant. The company had posted standalone net profit of Rs 20.94 crore in the same quarter last fiscal, Eveready Industries said in a regulatory filing. Total income during the period under review stood at Rs s 387.81 crore as against Rs 373.8 crore in the year-ago quarter, it added. Eveready Industries said it incurred Rs 23.21 crore in the voluntary retirement scheme for workmen (VRS) at its manufacturing facility at Tiruvottiyur, in Chennai. The company said it received Rs 25 crore during the quarter, as per payment terms of the sale agreement. During the third quarter, the company said its battery volume grew by 6.2%. The turnover for lighting segment for the quarter stood at Rs 88.1 crore, down around 11%, partially due to supply constraints as well as unit price decrease in bulbs, it said.
Adani Gas net up 13% in December quarter on strong volume growth
Adani Gas reported a 13% rise in consolidated net profit to Rs 47.21 crore for the December 2018 quarter, on the back of strong volume growth in its city gas distribution business. It had posted a consolidated net profit of Rs 41.81 crore in the corresponding quarter a year ago, the company said in a statement. Revenue from operations rose to Rs 484.84 crore from Rs 348.74 crore in the third quarter of the previous fiscal. The company, part of the Adani Group, listed on stock exchanges in November last year in a bid to become the largest city gas distribution (CGD) company in India and unlock its value for the existing shareholders. As part of the listing process, it allotted equity shares to the existing shareholders of Adani Enterprises Ltd in the ratio of 1:1. Following the listing, promoters will hold 74.92% stake in Adani Gas, whereas retail and institutional investors will hold 3.36% and 21.72%, respectively. During the April-December 2018 period, the company reported a net profit of Rs 152.94 crore on a revenue of Rs 1,329.32 crore. It had a net profit of Rs 122.32 crore on a revenue of Rs 990.26 crore in the corresponding period of the previous fiscal.
Ashok Leyland Q3 net profit dips 21% to Rs 381 crore
Hinduja Group flagship company Ashok Leyland Thursday reported 21.44% decline in its standalone net profit at Rs 381 crore for the third quarter ended December 31, 2018, impacted by pricing pressure and higher input costs. The company had posted a net profit of Rs 485 crore during the October-December period of 2017-18. Revenues also declined to Rs 6,325 crore during the third quarter, as against Rs 7,191 crore in the same period of previous fiscal, Ashok Leyland said in a regulatory filing. Total industry volume for the quarter was lower by 7% due to high base last year. Ashok Leyland managing director Vinod K Dasari said the company had achieved BS6 compliance across its entire range of engines on test beds. “Coupled with the modularity of vehicles we are planning from 2020, it presents exciting opportunities for differentiating Ashok Leyland’s offerings to the customers,” he added.
UBL Q3 profit jumps over twofold to Rs 109 crore
United Breweries Ltd (UBL) on Thursday reported an over twofold increase in standalone profit to Rs 109.17 crore for the December 2018 quarter, on volume growth, higher realisations and cost control. It had posted a profit of Rs 47.38 crore during the corresponding period of the previous fiscal. Total income during the third quarter of the current financial year stood at Rs 3,190.5 crore, up 22.19%, as compared with Rs 2,610.9 crore in the year-ago quarter, UBL said in a regulatory filing.
