TOP CORPORATE NEWS - 16 AUG 2016

Power Grid good Q1 performance

Power Grid Corporation of India has announced the following Q1 Unaudited Standalone results for the quarter ended June 30, 2016 (YoY):

Net Profit rose by 32.90% to Rs1801.77 crore Vs Rs1355.64 crore (YoY).

Total Income increased by 30.60% to Rs6259.30 crore Vs Rs4792.38 crore (YoY).

Cadila Healthcare's Topical mfg facility receives EIR from USFDA

Cadila Healthcare's Topical manufacturing facility located at Changodar, Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA following the inspection carried out in March 2016.

The receipt of EIR indicates the successful closure of the inspection points (483s) raised. The topical plant is a dedicated facility for manufacturing ointments and does not form a part of the Moraiya formulations manufacturing plant – Sentimentally positive for Cadila.

United Breweries Q1 net profit comes at Rs147 crore

United Breweries Ltd announced the following unaudited Standalone results for the quarter ended June 30, 2016:

Net profit at Rs147.06 crore vs Rs122.14 crore (YoY)

Total Income at Rs1576.83 crore vs Rs1469.58 crore (YoY).

Wockhardt drops as Q1 net profit sinks 82.6% (YoY)

Shares of Wockhardt dropped over 4% to Rs777 on NSE after the Q1 net profit of the company fell down by 82.6% at Rs15.9 Cr Vs Rs91.6 Cr (YoY)

Total Income Down 4.2% at Rs 1,090.8 Cr Vs Rs 1,138.9 Cr (YoY)

EBITDA Down 48.5% at Rs 85.2 Cr Vs Rs 165.5 Cr (YoY)

EBITDA Margin At 7.8% Vs 14.5% (YoY)

Other Income at Rs 16.9 Cr Vs Rs 6.4 Cr (YoY)

July WPI at 23 month high

WPI inflation climbs 23 month high at 3.55% as against 1.62% month-on-month. Industrial inflation climbed to 1.8% from 1.17% last month.

July WPI Inflation at 3.55% Vs 1.62% (MoM)

Primary Articles Inflation at 9.38% Vs 5.5% (MoM)

Food Articles Inflation at 11.82% Vs 8.18% (MoM)

Vegetables Inflation at 28.05% Vs 16.91% (MoM)

Pulses Inflation at 35.76% Vs 26.61% (MoM)

May WPI Inflation revised to 1.24% from 0.79%

Cereals Inflation at 7.03% Vs 6.32% (MoM)

Fruits Inflation at 17.3% Vs 5.97% (MoM)

Egg, Meat & Fish Inflation at 7.49% Vs 6.67% (MoM)

Manufactured Products Inflation at 1.82% Vs 1.17% (MoM)

Primary Articles Index up 2.5% Vs +2.9% (MoM)

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