TOP CORPORATE NEWS : 15 May 2017

Corporate News

TOP HEADLINES OF THE DAY :-

South Indian Bank reports Q4 PAT at Rs76 crore
Karnataka Bank Q4 net profit up 30% at Rs138 cr
Apollo Tyres announces price hike of 3%
Colgate-Palmolive net profit below estimates
Vedanta consolidated profit above estimate

South Indian Bank reports Q4 PAT at Rs76 crore
PAT at Rs76 crore
Gross NPA at 3% Vs 3.9%
Net NPA at 1.4% Vs 2.5% QoQ
Provisions at Rs165.3 crore Vs Rs206.6 crore (QoQ); Vs Rs113.3 crore (YoY)
NII at Rs439 crore
Slippages at Rs1150 crore
Cash Recovery at Rs99 crore
South Indian Bank Says sold NPAs worth Rs1187 crore to ARCs
Write-off in Q4 was at Rs494 crore
Net Interest Margin at 2.7%. FY16 Divergence in NPAs at Rs565 crore
Expect FY18 Loan Growth at 20%, Driven by retail portfolio.

Karnataka Bank Q4 net profit up 30% at Rs138 cr
Karnataka Bank Q4 net profit up 30% at Rs138 crore.
Net NPA were at 2.64% vs 2.99% QoQ
NII was at Rs351 crore vs Rs359 crore down 2.2% YoY.

Apollo Tyres announces price hike of 3%
Apollo Tyres has announced price hike of 3% in the truck and bus segment to offset increased raw material pressures.
With this hike, the company has taken a cumulative price hike of 8-10% in the truck and bus segment in the last six months.
We believe the price hikes are likely to fully offset the increase in the raw material prices witnessed in the last six months and will enable the
company to maintain margins.

Colgate-Palmolive net profit below estimates
Colgate-Palmolive Q4
Consolidated net profit at Rs142.6 crore.
Consolidated revenue at Rs1176.7 crore.
EBITDA at Rs244.3 crore.
EBITDA Margin at 23.6%.
Advertising Expense up 24% at Rs144 crore (YoY) while volumes have declined 3% in Q4.
FY17 Toothpaste market share at 55.1% Vs 47%.

Vedanta consolidated profit above estimate
Vedanta Q4
Consolidated net profit at Rs2988 crore
EBITDA at Rs7350 crore
Vedanta will continue to expand Oil & Gas Biz; see a strong Zinc biz..

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