Companies & Sectors
Maruti Suzuki's Q4 net profit down 12 percent
New Delhi : Passenger car major Maruti Suzuki on Tuesday reported a decline of 11.7 percent in its net profit for the fourth quarter (Q4) of 2015-16.
 
The company's net profit stood at Rs.1,133.6 crore for the quarter ended March 31, 2016 from Rs.1,284.2 crore in the corresponding period of 2014-15.
 
"Loss of over 10,000 units due to reservation agitation increased advertising expenses and lower other income slightly impacted profits during the quarter," the automobile manufacturer said in a statement.
 
However, the passenger car major's total income in the quarter under review was higher by 12.33 percent to Rs.15,305.7 crore from Rs.13,624.8 crore in the fourth quarter of 2014-15.
 
The net sales during the quarter under review stood at Rs.14,929.5 crore -- up 12.5 percent from Rs.13,272.5 crore for the quarter ended March 31, 2015.
 
Maruti Suzuki sold 360,402 vehicles during the quarter under review logging a growth of 3.9 percent.
 
For the full financial year 2015-16, Maruti Suzuki reported an increase of 23.2 percent in its net profit.
 
The net profit stood at Rs.4,571.4 crore for the year ended March 31, 2016 from Rs.3,711.2 crore during 2014-15.
 
"Higher volumes aided by successful new model launches and network expansion, lower raw material cost and continued cost reduction initiatives led to growth in profits during the year," the statement said.
 
The company's total income which includes net sales and other operating income in the period under review grew by 15.56 percent to Rs.57,746.3 crore from Rs.49,970.6 crore in 2014-15.
 
Net sales rose by 15.9 percent to Rs.56,350.4 crore in Apr-Mar 2015-16 from Rs.48,605.5 crore.
 
The automobile manufacturer's sales in 2015-16 edged up by 10.6 percent to 1,429,248 vehicles.
 
The company's board recommended a dividend of Rs.35 per share of face value of Rs.5 for 2015-16. 
 
"The board of directors recommended a dividend of 700 percent (Rs.35 per share of face value Rs.5) for 2015-16. The dividend in 2014-15 was at 500 percent. (Rs.25 per share of face value Rs.5)," the statement said.
 
According to the company's chairman R.C. Bhargava the automobile manufacturer will undertake short-tem measures to ramp-up production at its Manesar facility to reduce customer waiting time. 
 
Besides, Maruti Suzuki expects to start production at its Gujarat plant from early next year. Initially, the company plans to manufacture 10,000 units at the new plant. 
 
In addition, the company has set a capital expenditure target of Rs.4,400 crore for 2016-17 from Rs.2,500 crore in 2015-16.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Are Nifty, Sensex back in an uptrend? Tuesday closing report
Nifty has to stay above 7,920 for the index to remain bullish 
 
We had mentioned in Monday’s closing report that Nifty, Sensex uptrends were broken and that Nifty would have to stay above 7,862 for the market to head higher again. The major indices of the Indian stock markets rallied to close with handsome gains. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Key Indian stock market indices, which opened lower on Tuesday, surged in the afternoon session following strong global cues. Good buying was observed in metal, auto, realty and banking sectors. There was underlying caution among the investors before the meetings of the central banks of the US and Japan this week. The Fed is expected to keep interest rates unchanged but investors will keep a close eye on the Fed Chair's comments regarding future outlook.
 
Aditya Birla-led aluminium manufacturer Hindalco said on Tuesday it will accept the Australian company Metal X's improved takeover offer for its Australian subsidiary Aditya Birla Minerals Ltd. Metal X has announced its "intention to improve its ongoing takeover offer for acquiring the shares of ABML under the relevant laws of Australia", Hindalco said in a stock exchange filing. Metal X has offered one fully paid ordinary share in Metals X Ltd for 4.5 ABML shares and Australian $0.08 in cash for every ABML share held, it said. "Further, the company (ABML) has informed that Hindalco has communicated to ABML its intention to accept the aforesaid offer subject to receiving the approval of RBI and no bona fide superior proposal being announced by a third party within five business days of Metals X announcing its intention to make the aforesaid offer," the filing added. "Aditya Birla is an underperforming company and its shareholders have seen substantial loss of wealth over the last few years," said Metals X chief executive and managing director Peter Cook. "However, Metals X believes its underground mining experience, technical capability, financial capacity and experience in operating Western Australian mines make Metals X almost uniquely placed to take on the nifty challenge," he said. Hindalco shares closed at Rs103.25, up 4.93% on the NSE.
 
Maruti Suzuki reported 11.7% year-on-year (YoY) decline in net profit at Rs1,134 crore for the quarter ended March 2016 mainly on account of higher expenses and lower other income. “Loss of over 10,000 units due to reservation agitation, increased advertising expenses and lower other income slightly impacted profits during the quarter,” Maruti Suzuki India said in a statement. Net sales however increased by 12.5% to Rs14,930 crore. The board of directors proposed a dividend of 700% or Rs35 per share of face value of Rs5 for 2015-16. The share of the company closed at Rs3,869.45, up 3.62% on the BSE.
 
ABB India reported a net profit of Rs71 crore on sales of Rs1,976 crore in the March quarter (Q1). ABB India's order inflow was weaker than estimated in Q1. "Large orders, especially those based on industry capex, remained scarce as customers continued to delay investment decisions on low demand and under-utilised capacity," ABB India said in a release to Bombay Stock Exchange. ABB shares closed at Rs1,292.95, down 3.96% on the BSE.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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Pulse Beat

Strange Bedfellows

There is a strange new love between the Amazon Forest loggers’ mafia which has destroyed the best part of Amazon for greed and the greediest pharmaceutical lobby in the US. Money and greed for money could bring strange bedfellows together! The pharma lobby thinks that the Amazon and such large forests will have to be preserved because they could harbour some of the most potent drugs for the future, since the chance of discovering something new in the chemistry laboratory is tough, dangerous and expensive. They did taste blood with the discovery of vincristine for cancer treatment from Vinca Rosea found there; we have it in India abundantly. They have befriended the forest mafia showing them that these newfound treasures could be much more lucrative compared to simple timber. Strangely, they also want to preserve some of the forest-dwellers who have no contact with the outside (‘civilised’) world as they could have some of the best remedies for longevity and good health! 
 

Cancer and Chemotherapy

In a survey done in 2013 in the US, 75% of the doctors said that they would not take chemotherapy themselves! Sadly, as reported by News Target, “Statistics on chemotherapy-caused deaths are difficult to come by, because hospitals and oncology physicians always assign the blame to ‘cancer’.” How convenient that is—even if the eventual cause of death is infection that is caused or aggravated by chemotherapy-induced immune system weakness, the official death diagnosis is blamed on the cancer itself. 

 

Pure, White and Deadly

This is the title of an interesting book written by a professor of nutrition at London, in the 1960s when I was a student there, at the peak of the fat theory of atherosclerosis, riding the crest of its success wave. Professor John Yudkin was a brilliant scientist who came from a poor background as his parents, both Jews, were thrown out of Russia in the early part of the last century. John had a small house in one of the poorer localities in the midlands in England. With great difficulty, his parents managed to send him to a grammar school as he was very bright. John then earned his scholarship to Cambridge and there was no looking back. He became a professor at the London University.
 
Since the end of World War II, Europe slowly became prosperous and people could buy good food for themselves. So, in Europe, consumption of fat went up, along with so many other things, sugar included. John found that the same relationship holds good for sugar consumption. He wrote a popular book Pure, White and Deadly which got him so much publicity that it attracted the wrath of his colleagues who believed that fat alone is the factor behind obesity. He was forced to retire. 
 
The University did a smoke-screen cover-up by giving him a small room in an old unused building in their campus to do his research and replaced him by a junior professor who was one of the leaders in fat theory. John Yudkin simply disappeared from the scene. I have been writing and talking about his book over the years and showing how fallacious the fat theory was. Now, I have been proven right and the American bosses have done a U-turn on the fat theory. 
 
I used to think that such suppression of facts occurs only in India. My own University had condemned me for opposing oral polio drops for malnourished children by going to the press saying that I had forgotten my medicine and no one should believe me. They were better than the London University but the disease is prevalent all over the world! I am happy to see that they are now giving injectable polio vaccine in India, a good 15 years after my struggle to stop oral polio.

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