TOP CORPORATE NEWS-4 FEB

TOP CORPORATE NEWS

·        Bharat Forge Q3 net profit zooms 98% at Rs 94 cr

Bharat Forge’s net profit for the quarter ended December 31, 2013 zoomed up by 97.9% at Rs 94 crore from Rs 47.5 crore in the corresponding quarter last fiscal. On a sequential basis (compared to second quarter) PAT was down 2.5%. Revenue for the quarter at Rs 832.1 crore was up 23.7% from Rs 672.6 crore in the same quarter last year. On quarter-on-quarter basis revenue were down1.5%.

·        Whirlpool of India spurts after stellar Q3 earnings

Whirlpool of India surged 6.34% after net profit jumped 111.02% to Rs 21.25 crore on 8.73% growth in total income from operations to Rs 672.77 crore in Q3 December 2013 over Q3 December 2012.

·        Muthoot Finance enters White-Label ATM space, to invest Rs 300 cr

Muthoot Finance entered into the White-Label ATM (WLA) space by setting up its first such unit. The company will invest Rs 300 crore in three years to set up 9,000 WLAs across the country.

·        Hero MotoCorp inches up after reporting January sales

Hero MotoCorp rose 0.43% to Rs 1971.40 after its total two-wheeler sales rose 0.61% to 561,253 units in January 2014 over January 2013. Hero MotoCorp's consolidated net profit rose 7.5% to Rs 524.66 crore on 11.3% growth in net sales to Rs 6845.91 crore in Q3 December 2013 over Q3 December 2012.

·        Tata Chemicals drops after reverse turnaround in Q3

Tata Chemicals lost 2.93% after the company reported a consolidated net loss of Rs 15.93 crore in Q3 December 2013 compared to net profit of Rs 224.07 crore in Q3 December 2012. Its consolidated total income rose 6.65% to Rs 4598.13 crore in Q3 December 2013 over Q3 December 2012.