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DAILY CORPORATE NEWS
ITC Q3 disappoints; Net Profit below estimates
ITC has announced the following Q3 Un-Audited Standalone results for the quarter ended December 31, 2015.
Net profit gained by 0.67% to Rs2652.8 crore Vs Rs2635.00 crore.
Total Income increased by 3.49% to Rs9854.66 crore Vs Rs9524.58 crore.
Mahindra rallies on launch of smaller diesel engine
Shares of Mahindra & Mahindra finance surged over 5% to Rs1194 on NSE on launching smaller diesel engine for NCR/Delhi region – positive for the company.
Today, M&M launched its mHawk new 1.99 litre diesel engine. This would help the company overcome the impact of a recent Supreme Court decision on diesel car sales.
L&T in talks with Adani group to sell plant in Punjab
L&T is in talks with Adani group to sell its power plant in Punjab at an estimated value of around Rs3, 000 crore.
The deal would be a positive for L&T as it will monetizing its non-core asset.
Biocon Q3 consolidated net profit up 13%
Biocon has announced the following Q3 results for the quarter ended December 31, 2015 (YoY):
Standalone (YoY)
Net Profit rose by 19.54% to Rs68.50 crore Vs Rs57.30 crore.
Total Income increased by 3.28% to Rs565.30 crore Vs Rs547.50 crore.
Idea Q3 disappoints; consolidated net profit at Rs764 cr
Idea Cellular has announced the following Q3 results for the quarter ended December 31, 2015.
Standalone (YoY)
The Company has posted a net profit of Rs642.65 crore Vs Rs665.44 crore.
Total Income is at Rs8988.73 crore Vs Rs8070.81 crore.
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