TOP CORPORATE NEWS - 27 JULY 2016

                                       
HDFC Q1 consolidated net profit up 27% (YoY)

HDFC Ltd Q1FY17 results first cut – Other income gains buoys profits, healthy topline growth

Housing Development Finance Corporation (HDFC) has announced the following results for the quarter ended June 30, 2016 (YoY):

Standalone

Net Profit rose by 37.45% to Rs1870.73 crore Vs Rs1360.98 crore (YoY).

Total Income increased by 19.40% to Rs8393.33 crore Vs Rs7029.37 crore (YoY).

Dr. Reddy’s tanks as Q1FY2017 results disappoint

Shares of Dr. Reddy’s tanked 11% to Rs 2980 on NSE post Q1FY2017 results which were disappointing; FDA resolution key for on track performance from H2FY17.

Fall in revenue from global generics: Revenue from the global generics segment declined 14 %YoY  basis to Rs2,660 crore for the quarter, primarily on account of lower contribution from North America and loss of sale from Venezuela.

North America declined by 16% to Rs1, 550 crore, which was impacted by increased competition in Valgancyclovir and Azacitidine, coupled with pricing pressure and moderation in volume take-off.

Shriram Transport Q1 net profit at Rs374 cr

Shriram Transport Finance Company has announced the following Q1 Unaudited Standalone results for the quarter ended June 30, 2016 (YoY):

The Company has posted a net profit of Rs374.10 crore Vs Rs321.11 crore.

Total Income is at Rs2685.99 crore Vs Rs2353.34 crore.

Provisions & Write-offs at Rs459 crore Vs Rs457 crore (QoQ); Vs Rs.382 Cr (YoY)

Dabur Q1 margins expand; net profit meets estimates

Dabur India Q1 has announced the following results for the quarter ended June 30, 2016

Standalone

Net Profit rose by 14.18% to Rs198.37 crore Vs Rs173.72 crore.

Total Income increased by 1.06% to Rs1333.56 crore Vs Rs1319.48 crore.

Castrol India Q1 net profit up 12% (YoY)

Castrol India has announced the following Q2 Unaudited Standalone results for the quarter ended June 30, 2016 (YoY):

Net Profit rose by 12.14% to Rs206.90 crore Vs Rs184.50 crore.

Total Income increased by 5.25% to Rs988.10 crore Vs Rs938.80 crore.

                                                               

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