Dish TV jumps 8% on overall strong show in Q3
Shares of Dish TV surged over 8% to Rs81 on NSE led by strong show on all counts, management indicated at inflexion point to turn profitable. Dish TV has delivered strong set of numbers for Q3FY15, with EBITDA margins of 26.8%, improved by 246 bps QoQ. Revenues were up by 6% QoQ, while ARPU at Rs177 increase by 3% QoQ. Net loss for the quarter reduced to Rs2.9 crore and company made a free cash flow of Rs29.8 crore for the quarter.
Kolte-Patil developers to invest over Rs3,000 cr in 13 new projects
Kolte Patil Developers is planning to invest Rs3,000 to 3,500 crore in 13 new projects in the city. It will develop over six to eight million square feet area in the next three years.
Around 80% of the funds will be raised through internal accruals while rest through construction financé and equity. Currently, the company has a total land bank of 50 million square feet in and around Pune.
Atul Q3 net profit down 18% (YoY)
Atul has announced the following Unaudited Standalone results for the quarter ended December 31, 2014 (YoY):Net profit fell by 17.67% to Rs53.71 crore Vs Rs65.24 crore (YoY).Total Income increased by 3.12% to Rs630.98 crore Vs Rs611.86 crore (YoY)
IT Dept orders FMCG MNC’s to pay higher taxes
Income Tax Department order FMCG MNC’s like HUL, P&G, L’Oreal & others like Maruti Suzuki and LG Electronics to pay taxes on advertising, marketing and sales promotion expenses higher than the industry average – negative for large FMCG MNCs.The income-tax department has ordered several MNCs, mostly FMCG companies, to pay taxes on advertising, marketing and sales promotion (AMP) expenses incurred over and above the industry average.
Clean chit to Srinivasan; Meiyappan, Kundra found guilty
Clean chit to Srinivasan (Chairman of India cement); Meiyappan, Kundra found guilty: Positive for India Cement. Allegation on N Srinivasan for covering-up his son-in-law was not proved due to lack of evidence.
However Supreme Court has came down hard on his vested interests in the Chennai Super Kings, which is owned by his company India Cements. As a consequence, Srinivasan may now be allowed to contest the BCCI presidential elections that are expected to be held shortly.
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