TOP CORPORATE NEWS:- 31 Oct 2017

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TOP Headlines Of The Day:- 31 Oct 2017

Dabur India Q2FY18 consolidated net profit rises 1.2% yoy: Misses Estimates
Axis Bank up 8% on investment news
IDFC goes up post the call-off of merger with Shriram Group
LIC Housing Finance Q2FY18 standalone net profit increases marginally by 1.1% yoy
Bharti Infratel Q2FY18 consolidated net profit declined 17.5% yoy : Misses Estimates

Dabur India Q2FY18 consolidated net profit rises 1.2% yoy: Misses Estimates
Dabur India’s Q2FY18 consolidated results for the quarter registered a miss versus street estimates
Revenue for the quarter came in 5 % lower than the estimated figure of Rs. 2061 crore.EBITDA for the quarter came in 0.3 % lower than the estimated figure of Rs. 421 crore.And lastly, net profit for the quarter came in 1.7 % lower than the estimated figure of Rs. 369 crore.
Dabur India consolidated revenue for the quarter came in at Rs. 1959 crore, registering 1.2% yoy decline. This was primarily driven by 2% degrowth in its Consumer Care business. EBITDA for the quarter rose by 2.7% yoy to Rs. 420 crore with a corresponding margin expansion of 80 bps. EBITDA margin for the quarter stood at 21.4%.
The PAT for the quarter came in at Rs. 363 crore, yoy increase of 1.2%. This was due to lower interest by 19.8%.

Axis Bank up 8% on investment news
Axis Bank was up 8% today, riding a media report that private equity fund Bain Capital may buy up to 5% stake in the bank. The investment will come as a primary issuance of shares through a preferential allotment that will allow Bain Capital to own up to 5% of Axis Bank, according to the report.

IDFC goes up post the call-off of merger with Shriram Group
With the long-talked merger between IDFC and Shriram Group being called off, it was expected that the shares would catch the downtrend. However, the company broke the perception, gaining by over 1.5% in the early trading hours of Tuesday.
The mergers between the two companies were called off on basis of differences over valuations. “This is to inform you that despite best efforts, IDFC Group and Shriram Group have not been able to reach common ground on a mutually acceptable swap ratio,” IDFC said in a note to the stock exchanges after the market closed on Monday.

LIC Housing Finance Q2FY18 standalone net profit increases marginally by 1.1% yoy
LIC Housing Finance reported its standalone financial result for Q2FY18.
NII for the quarter increased marginally by 2.6% yoy to Rs. 917 crore. This was due to marginal increase in interest earned by 6.7% for the quarter.
Provision for the quarter came to Rs.57.82 crore vs 30.3 crores in the corresponding quarter last year.
Net profit for the quarter declined marginally by 1.1% YoY to Rs. 489 crore.

Bharti Infratel Q2FY18 consolidated net profit declined 17.5% yoy : Misses Estimates
Bharti Infratel’s Q2FY18 consolidated results for the quarter registered a miss versus consensus estimates. Revenue for the quarter came in 1 %
higher than the estimated figure of Rs. 1643 crore. EBITDA for the quarter came in 33.6 % lower than the estimated figure of Rs. 1202 crore. And lastly, net profit for the quarter came in 5.4 % lower than the estimated figure of Rs. 674.5 crore.
Bharti Infratel consolidated revenue for the quarter came in at Rs. 1659 crore, egistering 10.9% yoy increase.

EBITDA for the quarter rose by 15.3% yoy to Rs. 798 crore with a corresponding margin expansion of 186 bps. EBITDA margin for the quarter stood at 48%.
The PAT for the quarter came in at Rs. 638 crore, yoy decline of 17.5%. This was due to 19% yoy decline in other income.

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