Homegrown auto major Tata Motors on Wednesday reported 49.82 per cent decline in consolidated net profit to Rs 2,176.16 crore for the fourth quarter ended March 31, 2017-18. It had posted net profit of Rs 4,336.43 crore in the corresponding period of 2016-17, Tata Motors said in a BSE filing.
It consolidated income from operations during the quarter under review stood at Rs 91,279.09 crore. It was at Rs 78,746.61 crore in the year-ago quarter. The two figures are not comparable due to GST implementation from July 1 last year, after which the revenue from operations is reported net of GST.
On a standalone basis, the company said its net loss in the fourth quarter narrowed to Rs 499.94 crore. It was Rs 805.93 crore in the same quarter a year-ago. Standalone revenue from operations for the quarter was at Rs 19,779.32 crore. It was at Rs 15,080.56 crore in the year-ago-period.
For the entire 2017-18, consolidated net profit was at Rs 9,091.36 crore, as against Rs 7,666.56 crore in the previous fiscal, up 18.58 per cent.
Consolidated income from operations for 2017-18 was at Rs 2,95,409.34 crore. It was at Rs 2,74,492.12 crore in 2016-17.
Grasim Industries Q4 net profit Rs 853.62 cr
Aditya Birla Group firm Grasim Industries on Wednesday reported a consolidated net profit of Rs 853.62 crore for the fourth quarter ended March 2018.
The company had posted a net profit of Rs 1,063.62 crore during the January-March period of the previous fiscal, Grasim Industries said in a regulatory filing.
Total income during the quarter under review stood at Rs 17,691.80 crore. It was Rs 11,409.41 crore in the corresponding period of the previous fiscal.
Meanwhile, the company said its result was not comparable as the consolidated result of the company also included the financial results of cement plant acquired by UltraTech, a subsidiary of the company from Jaiprakash Associated.
“Hence, the results of the three months and year ended March 31, 2017 are not comparable with the corresponding periods of previous year,” the company said. Its total expenses were at Rs 15,893.34 crore.
Grasim Industries’ revenue from cement business during the quarter was Rs 9,420.76 crore. It was Rs 7,923.80 crore in the corresponding quarter a year ago.
“During Q4FY18 and FY18 the consolidated sales volume registered an increase of 15 per cent and 20 per cent on YoY basis. The input costs continued to rise in Q4FY18, due to higher pet coke and coal prices and the ban on pet coke usage in TPP,” said Grasim Industries in a statement.
Viscose staple fibre (VSF) was at Rs 2,332.45 crore as against Rs 2,115.10 crore. “The VSF business reported its highest ever sales volume of 508KT in FY18, led by growth in the domestic market with intense market development efforts,” it added.
For the entire 2017-18, Grasim Industries’ net profit stood at Rs 3,687.62 crore. It was Rs 4,245.61 crore in 2016-17.
Total income of Grasim Industries stood at Rs 58,328.43 crore as against Rs 41,194.93 crore in 2016-17.
Over the outlook, the company said that VSF business would continue to focus on expanding the market in India. “However, the new capacities likely to come on stream in China may impact the global VSF prices in the near term,” it said. In cement, government’s spending on infra projects, rural and affordable housing will be the key demand drivers.
In a separate filing, Grasim Industries said that its board in a meeting held on Wednesday recommended 310 per cent dividend i.e. Rs 6.20 per equity share of face value Rs 2/- each for the year ended March 31, 2018.