TOP CORPORATE NEWS:- 18 Jul 2017

Corporate News

TOP Headlines Of The Day:- 18 Jul 2017

Cigarette stocks down as GST Council hikes cess
Tata Motors develops first bio-methane bus
TV18 Broadcast Q1 consolidate loss at Rs14 cr
Ultratech Cement post stable Q1 earnings
Jubilant Life Q1 consolidated net profit Rs144 cr

Cigarette stocks down as GST Council hikes cess
Cigarette stocks declined after the Goods and Services Tax (GST) Council yesterday, (July 17, 2017), increased the compensation cess on cigarettes by 48.50 paise to 79.20 paise per stick with effect from July 18, 2017.
ITC down 11.59%, Godfrey Phillips down 4.97%, VST Industries down 4.65% and Golden Tobacco down 3.63% on the BSE at 11.49 am.
While the peak Goods and Services Tax (GST) rate of 28% stays and so does 5% ad valorem cess on top of it on the cigarettes, the fixed cess has been hiked between Rs 485 and Rs 792 per thousand sticks.
The increase in cess is expected to help the government raise around Rs5000 crore of additional tax revenue, reports suggested.

Tata Motors develops first bio-methane bus
Commercial Vehicles manufacturer, Tata Motors has announced the launch of a Bio-CNG bus.
Tata Motors, India’s largest Commercial Vehicles manufacturer and the No 1 Bus Brand yet again showcased a class-leading technology innovation-country’s first Bio-CNG Bus at the Bio-energy programme, called ‘Urja Utsav’.
Tata Motors has designed the bio-methane engines for Light Commercial Vehicles (LCV), Intermediate commercial vehicle (ICV) and Medium commercial vehicles (MCV).
Tata Motors has designed and developed bio-methane engines (5.7 SGI & 3.8 SGI) for LCV, ICV & MCV buses. Displayed at the event were three engines, along with the lead model; Tata LPO 1613 with 5.7 SGI NA BS-IV IOBD-II compliant bus. The Tata LPO 1613, already in operation by PMPML (Pune Mahanagar Parivahan Mahamandal Limited) was showcased with bio-methane fuel at the event.

TV18 Broadcast Q1 conoslidated loss at Rs14 cr
TV18 Broadcast Q1 Consolidated (YoY)
Loss at Rs14.3 crore Vs Loss of Rs15.7 crore
Revenue up 4% at Rs219.1 crore
Tax Expense at Rs8.1 crore Vs Credit of Rs0.8 crore (YoY)
TV18 Broadcast Q1FY18 earnings update: Weak quarter
TV18 Broadcast revenues were up by 3.8% YoY to Rs219 crore, led by revenue growth from the business news (up 16% YoY) segment while regional news
witnessed softness (down 16% YoY) during the quarter. Further, impending GST implementation resulted in deferral of advertising spends in Q1FY18.
EBITDA loss was at Rs14 crore versus loss of Rs19 crore owing to lower profitability in the regional news due to gestation losses. OPM was at negative 6.4% against negative 9.0% in Q1FY18. Net loss for the quarter stood at negative Rs12.0 crore, against loss Rs13.0 crore in Q1FY17.

Ultratech Cement post stable Q1 earnings
Ultratech Cement standalone profit up by 14.9% at Rs890 crore (YoY)
Standalone revenue at Rs7,520 crore Vs Rs7,095 crore (YoY)
Operating profit up 9.7% at Rs1,560 crore (YoY)
Standalone Margin at 23.5% Vs 22.8% (YoY)
Ultratech cement Q1FY2018 result – Increase in operating margins along with lower interest cost boosts earnings growth Ultratech posted standalone net sales (net of excise duty) of Rs6, 626.5 crores (up 6% YoY) for Q1FY2018.
The company reported improvement in operating margins (up 71BPS YoY) despite an increase in the power & fuel cost (up 32% YoY). Consequently, the standalone operating profit for the quarter grew by 10% YoY to Rs1, 560 crores.
Further, lower interest expense (down 16% YoY) and higher other income (up 10% YoY) lead to growth in adjusted standalone net profit (up 15% YoY) to Rs891 crore

Jubilant Life Q1 consolidated net profit Rs144 cr
Jubilant Life Sciences Q1 consolidated net profit at Rs143.7 crore Vs Rs146 crore (YoY)
Consolidated Revenue up 9.7% at Rs1, 596 crore (YoY)
Consolidated EBITDA down 8.3% at Rs337.6 crore (YoY)
Consolidated EBITDA margin at 21.7% Vs 25.9% (YoY).

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