Exim Bank posts Rs 82 cr PAT in FY’19

Mumbai/New Delhi: Export-Import Bank of India (Exim Bank) on Thursday registered a profit after tax of Rs 82 crore for 2018-19 financial year.  It had reported a loss of Rs 2,924 crore in 2017-18. The export finance institution also witnessed reduction in bad loans during the year. Managing Director David Rasquinha said 2017-18 was a clean-up year wherein the bank did a significant tightening of the balance sheet and lending norms. It did an aggressive provisioning which led to a loss in that fiscal. Its gross non performing assets reduced to Rs 11,678 crore in 2018-19 from Rs 11,976 crore a year ago. Net NPAs stood at Rs 2,288 crore as compared to Rs 4,028 crore by the end of 2017-18. Provision coverage ratio improved to 85 per cent from 71 per cent in 2017-18.

MMTC Q4 net profit dips 8.26%

State-owned mining and metals firm MMTC on Thursday said its net profit fell 8.26 per cent to Rs 11.76 crore in the March 2019 quarter. The company had posted a net profit of Rs 12.82 crore in the corresponding period of the previous years. Total income from operations in the reported quarter stood at Rs 7,107.66  crore, compared with Rs 3,110.71 crore in the year-ago period. Total expenses also increased to Rs 7,082.73 crore, compared to Rs 3,098 crore, according to a regulatory filing on the BSE.

Apollo Hospitals Q4 net profit up 29% to Rs 77 crore

Healthcare major Apollo Hospitals Enterprise on Thursday reported a 28.57 per cent rise in its standalone net profit to Rs 76.68 crore for the quarter ended March 31, 2019. The company had posted a net profit of Rs 59.64 crore for the corresponding period of the previous fiscal, Apollo Hospitals Enterprise said in a filing to BSE. Standalone revenue from operations of the company stood at Rs 2,167.11 crore for the quarter under consideration. It was Rs 1,863.42 crore for the same period year ago. For the fiscal year ended March this year, the net profit of the company rose to Rs 302.76 crore as against Rs 233.20 crore for the previous fiscal year. The company’s revenue from operations for the fiscal year ended March 2019 stood at Rs 8,336.66 crore. It was Rs 7,183.01 crore for the year ago fiscal year. The company’s board has recommended a dividend of Rs 6 per share (120 per cent of face value of Rs 5 per share) for the financial year ended March 31, 2019 on the paid up equity shares of the company, Apollo Hospitals said.

Berger Paints Q4 profit up 4.9%

Berger Paints India Ltd on Thursday reported an increase of 4.91 per cent in its consolidated net profit to Rs 111.43 crore for the fourth quarter ended on March 31. The company had posted a net profit of Rs 106.21 crore in the January-March quarter a year ago, Berger Paints said in a BSE filing. Its revenue from operations during the quarter was up 13.38 per cent to Rs 1,472.09 crore as against Rs 1,298.27 crore in the corresponding quarter of the previous year. Berger Paints’ total expenses was at Rs 1,304.62 crore as against Rs 1,136.47 crore, up 14.79 per cent. For the full financial year 2018-19, Berger Paints’ net profit was Rs 497.45 crore. It was Rs 460.83 core in 2017-18. Total income for 2018-19 stood at Rs 6,061.86 crore. It was Rs 5,282.12 crore in 2017-18. Its board in its meeting held on Thursday has recommended payment of dividend of Rs 1.90 per equity share of the face value of Rs 1 each for 2018-19.

Godfrey Phillips Q4 profit falls 18% to Rs 35.36 crore

Cigarette maker Godfrey Phillips India on Thursday reported a 17.97 per cent decline in standalone profit to Rs 35.36 crore for the fourth quarter ended March 2019 due to impairment charges. The company had reported a profit of Rs 43.11 crore in the January-March quarter a year ago. Its total income during the quarter under review stood at Rs 672.76 crore, up 14.75 per cent as against Rs 586.27 crore for the corresponding period a year ago, Godfrey Phillips said in a BSE filing.