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JSW Steel reports 48% fall in Q4 consolidated net profit
24 May 16:04

JSW Steel has reported results for fourth quarter and year ended March 31, 2019.The company has reported a fall of 21.92% in its net profit at Rs 1,745 crore for the quarter under review as compared to Rs 2,235 crore for the same quarter in the previous year. Total income of the company decreased marginally by 2.21% at Rs 19,784 crore for Q4FY19 as compared Rs 20,232 crore for the corresponding quarter previous year.On the consolidated basis, the company has reported a fall of 48.07% in its net profit at Rs 1,495 crore for the quarter under review as compared to Rs 2,879 crore for the same quarter in the previous year. However, total income of the company increased by 4.86% at Rs 22,421 crore for Q4FY19 as compared Rs 21,381 crore for the corresponding quarter previous year.For the year ended March 31, 2019, the company has reported a rise of 78.57% in its net profit at Rs 8,259 crore as compared to Rs 4,625 crore for the previous year. Total income of the company increased by 13.70% at Rs 77,246 crore for year under review as compared to Rs 67,936 crore for year ended March 31, 2018.For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 23.08% in its net profit at Rs 7,524 crore as compared to Rs 6,113 crore for the previous year. Total income of the company increased by 15.79% at Rs 84,961 crore for year under review as compared to Rs 73,378 crore for year ended March 31, 2018.

Ashok Leyland reports 12% fall in Q4 net profit
24 May 15:49

Ashok Leyland has reported results for fourth quarter and year ended March 31, 2019.The company has reported a fall of 12.13 % in its net profit at Rs 652.99 crore for the quarter under review as compared to Rs 743.12 crore for the same quarter in the previous year. However, total income of the company marginally increased by 0.18% at Rs 8,855.01 crore for Q4FY19 as compared Rs 8,839.50 crore for the corresponding quarter previous year.For the year ended March 31, 2019, the company has reported a rise of 15.45% in its net profit at Rs 1,983.20 crore as compared to Rs 1,717.73 crore for the previous year. Total income of the company increased by 8.70% at Rs 29,164.89 crore for year under review as compared to Rs 26,829.58 crore for year ended March 31, 2018.For the year ended March 31, 2019, on the consolidated basis, the company has reported a rise of 20.99% in its net profit at Rs 2,194.60 crore as compared to Rs 1,813.82 crore for the previous year. Total income of the company increased by 10.65% at Rs 33,324.90 crore for year under review as compared to Rs 30,116.25 crore for year ended March 31, 2018.

JSW Steel gets nod to raise upto Rs 14,000 crore
24 May 15:27

JSW Steel has received an approval for raising of long term resources through issuance of Non-Convertible Debentures (NCDs) with warrants which are convertible into or exchangeable with equity shares of the company of face value of Rs 1 each at a later date, for an amount not exceeding Rs 7,000 crore and equity Shares and/or Fully Convertible Debentures/Partly Convertible Debentures /Optionally Convertible Debentures or any other Convertible Securities for an amount not exceeding Rs 7,000 crore. The Board of directors of the company at its meeting held on May 24, 2019 has approved for the same. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

DLF targeting 10% increase in sales bookings in FY20
24 May 15:05

DLF is targeting a 10 percent increase in sales bookings for the current financial year (FY20) at around Rs 2,700 crore, on hopes of an increase in housing demand. Sales bookings of the company more than doubled to Rs 2,435 crore in 2018-19 from Rs 1,000 crore in the previous year.The company continued to see good sales in the residential segment. It has started monetising its ready to occupy inventory across the country in the premium and luxury segments. It is now gearing towards the next cycle of development and is planning to build 17 million sq ft of residential and commercial space in the near future.DLF is one of India`s biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.

Elgi Equipments’ arm invests in Evergreen Compressed Air and Vacuum LLC
24 May 14:49

Elgi Equipments’ wholly owned subsidiary -- Elgi Compressors USA, has subscribed and invested in, an extent of $1,34,000, which is 50% of the total capital of, Evergreen Compressed Air and Vacuum LLC.Evergreen Compressed Air and Vacuum LLC will function as an exclusive dealer / distributor for Elgi Compressors USA for the ELGi rotary screw (oil-flooded or oil-free) compressors. The object of acquiring 50% ownership stake is for creating a model distributorship in USA that can be the reference point for creating more such channel arrangements in USA.Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.

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