Grasim Industries net profit climbs 63.55% to Rs 830.22 crores

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Yesterday, on 11 August 2016, Grasim Industries net profit jumps 63.55% to Rs 830.22 crore on 9.16% expansion in total income to Rs 9278.13 crore in Q1 June 2016 over Q1 June 2015. The result was declared following market hours. Grasim Industries' board of directors at a gathering held yesterday, 11 August 2016, accepted 5-for-1 stock split. Yesterday Aditya Birla Nuvo's (ABNL) consolidated net profit drops 56.79% to Rs 305.15 crore on 1.62% expansion in total income to Rs 3318.68 crore in Q1 June 2016 over Q1 June 2015.

 The result was declared following market hours. For now, in separate declarations, Grasim Industries and ABNL conveyed that the board of directors of the companies has standard a composite scheme of agreement flanked by Grasim Industries, ABNL and Aditya Birla Financial Services and their respective shareholders. Yesterday the statement was made after market hours. Today among key corporate earnings, Bosch, Hindalco Industries and Sun Pharmaceutical Industries are scheduled to declare their June 2016 quarter earnings.

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PTC India's net profit increase 13.46% to Rs 56.45 crore on 13.53% expansion in total income to Rs 3684.05 crore in Q1 June 2016 over Q1 June 2015. Yesterday the result was declared after market hours. MRF's net profit jumps 2.37% to Rs 490.93 crore on 1.01% rise in total income to Rs 3555.53 crore in Q1 June 2016 over Q1 June 2015. The result was declared after market hours yesterday. Rural Electrification Corporation declared that it has fixed 29 September 2016 as the record date for the purpose of ascertaining entitlement of eligibility of shareholders for 1:1 bonus issue of shares.

The announcement was made after market hours yesterday, 11 August 2016. Today S. P. Apparels (SPAL) makes its debut on the secondary equity markets. The corporation had priced its initial public offer (IPO) at Rs 268 per share, the top finish of the Rs 258-268 per share price band for the IPO. SPAL is a leading producer and exporter of knitted garments for infants and children. From the proceeds of the fresh issue, SPAL has earmarked Rs 70 crore towards growth and modernization of manufacturing facility at Tamil Nadu, Rs 63 crore towards repayment of debt, Rs 27.85 crore towards commencing of new stores for sale of Crocodile brand, Rs 4.90 crore towards balancing machinery for existing dyeing unit in Perundurai and rest towards for general corporate purpose.

SPAL's profit after tax (PAT) increased 245% to Rs 34.71 crore on 13% expansion in net sales to Rs 532.83 in the year concluded 31 March 2016 (FY 2016) over the year concluded 31 March 2015 (FY 2015). Today Hatsun Agro Product turns ex-dividend for interim dividend of Rs 1 per share for the year ending 31 March 2017 (FY 2017). Today Indian Hotels corporation turns ex-dividend for dividend of Rs 0.30 per share for the year ended 31 March 2016 (FY 2016).

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