UlTRATECH CEMENT'S Q2 PROFIT UP 47% AT RS 416 CRORE
Ultratech Cement on Saturday reported 47 per cent increase in consolidated profit after tax for the July-September quarter at Rs416 crore on higher sales. The Aditya Birla Group flagship had clocked Rs 283 crore profit in the same quarter of 2013-14 fiscal, Ultratech said in a statement. Its net sales rose to Rs5,723 crore for the second quarter of the current fiscal, from Rs 4,849 crore a year ago on higher sales of cement and wall care putty.
The company's cement and clinker sales stood at 10.35 million tonne in Q2, 2014-15 compared to 9.22 MT in the year- ago period. White cement and wall care putty sales rose to 3.02 MT from 2.94 MT.Stating that its on-going capex plan is on track, the company said its capacity stood at 60.2 MT after commissioning a 1.4 MT cement mill in Karnataka during the quarter.
CANARA BANK TO RAISE RS80 CR VIA QIP MODE
State-owned Canara Bank will raise Rs80 crore during the current financial year through QIP mode."Upon taking the matter with the RBI and Ministry of Finance... Has received the approval of the government for raising of equity capital of Rs80 crore with additional share premium, with a green shoe option of Rs 5 crore through Qualified Institutional Placement (QIP)," Canara Bank said in a filing to the BSE.For raising the capital, the bank had obtained the consent of its shareholders in July, by way of a special resolution to raise equity capital through QIP mode.
lIC HOUSING FIN Q2 RISES 10 % TO RS341 CRORE
lIC Housing Finance's net profit in the second quarter ended September 2014 rose by 10 per cent to Rs341.35 crore.Its net profit in the corresponding quarter of he previous fiscal stood at Rs310.07 crore.Total income of the company increased to Rs 2,658.69 crore during July-September quarter of 2014-15, up from Rs2,302.41 crore in the second quarter of 2013-14, it said in a filing to the BSE.
Company's revenue from operations increased to Rs 2,596.08 crore during the quarter under review, up from Rs 2,223.71 crore a year ago.While, other operating income rose to Rs 31.49 crore over Rs22.79 crore.lIC Housing shares closed at Rs332.95 apiece on the BSE on Friday, up 1.66 per cent from the previous close.