Ambuja Cement PAT grows 19% yoy to Rs623cr for quarter ended Jun'19
Ambuja Cement reported its Q1FY20 earnings today. Shares of the company are currently down 1.5%.
Net profit after tax up by 19% yoy at Rs623cr. EBITDA higher by 15% yoy at Rs1, 484cr. EBITDA margin at 21% yoy up 210 bps.
Net sales stood at ~Rs2, 912cr compared to ~Rs2, 927cr in the corresponding quarter of the previous year.
The pace of construction activities slowed down due to liquidity issues in the market and weak demand. Cement realization registered a growth of 9% yoy.
Fuel costs were higher in this quarter and partly mitigated by freight & forwarding costs on account of network optimization, re-negotiations of contracts and change in mode mix.
Reliance Capital up 3% on announcement regarding full repayment of CP
Reliance Capital shares were trading up throughout today's session and are currently up by 3%.
The company announced today, "...the Company has fully repaid its outstanding Commercial Paper (CP) of Rs75cr on July 24, 2019. With the above repayment the CP outstanding stands at zero from the peak outstanding amount of approximately Rs3, 500 cr."
Though CPs were rated A4 by ICRA, the same have been repaid in full on the due dates, the company added.
NTPC & BHEL sign an MoU for 800MW coal-fired power plant
NTPC Ltd. is currently trading lower by 1% even as the company announced signing a MoU with BHEL, which is also down 3%.
NTPC has signed a MoU with BHEL for developing the world's most efficient friendly coal-fired power plant.
NTPC, the country largest power generator, on Wednesday said it has signed a MoU with BHEL to set up a 800MW technology demonstration plant.
It will be set up at NTPC power plant in Sipat, Chhattisgarh under a joint venture company.
ICICI Prudential Life Insurance stock rises post Q1 results
ICICI Prudential Life Insurance saw a 1.2% rise in net profit for the quarter ended June 30, 2019, with a healthy rise in the value of new business premium
Shares of the company soared 4% intraday and are now trading 0.5% higher.
The private sector insurer net profit grew to Rs284.94cr in Q1FY20 vs. Rs281.64cr yoy.
Further, for the quarter ended June 30, 2019, the value of new business increased by 27% to Rs309cr crore from Rs244cr a year ago.
The total premium also grew by 14.7% yoy to Rs6, 329cr in the first quarter of the fiscal vs. Rs5, 518cr a year ago.
The 13th month persistency was also flat at 84.4% as on June 30, 2019 vs. 84.6% in the corresponding period last year.
Bharti Infratel zooms 5% after good set of Q1 numbers
Shares of Bharti Infratel zoomed 5% on the NSE and are among top gainers after reporting a good set of numbers for Q1FY20.
The company consolidated revenue grew by 1% yoy to Rs3,712cr against median consensus estimates of Rs3,559cr. Its consolidated net profit grew by 39% yoy to Rs887cr against a median estimate of Rs584cr.
According to the media reports, the brokerage firm UBS maintained on the stock with a price target of Rs355. Revenue bottoming out, but the rate of recovery remains slow. June quarter mixed with QoQ improvement in revenue and Ebitda through tenancy addition soft, the firm added.
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