At first glance, Coal India Ltd’s (CIL’s) reported March quarter consolidated Ebitda looks miserably low at just Rs196 crore. But employee costs rose a whopping 80% against the year-ago period, which included Rs7,384 crore towards provisions for an increase in the gratuity ceiling. This is one-off in nature. Adjusting for this, earnings are better than expected, say analysts.
Danish energy group Orsted on Thursday reported first-quarter core profit above analyst expectations and raised its outlook for the year based on a ramp-up of new offshore wind parks, plus strong winds speeds.
Indian Oil Corporation (IOC), the country’s largest fuel retailer, is likely to report strong third quarter numbers on the back of increased refinery throughput and crude inventory gain offsetting lower refining and marketing margins arising due to lack of adequate increase in auto fuel prices during state elections, according to experts.
London-based Indian metals miner Vedanta Resources plc announced results for the first six months of their current fiscal year on Thursday.
Oil India Ltd standalone revenue for the quarter came in at Rs. 2473.2 crore, registering 6.1% yoy increase. This was primarily driven by 12.5% yoy increase in revenues from crude oil segment.
Tata Power today said its renewable portfolio in the country saw 101 per cent increase in profit to Rs 173 crore in the second quarter of the current fiscal.
JSW Energy consolidated revenue for the quarter came in at Rs. 2049 crore, registering 0.1% yoy increase.
The oil & gas sector remained a bright spot in an otherwise subdued quarter for the overall market, reporting 3% y-o-y PAT growth (ex-OMCs) versus 4% decline for NIFTY.
Domestic steel major SAIL today saw its standalone net loss widen to Rs 801.38 crore for the June quarter due to higher coalprices and expenses.
JSW Energy’s Q1FY18 consolidated results for the quarter registered a miss versus consensus estimates. Revenue for the quarter came in 7.3% lower than the estimated figure of Rs. 2407 crore. EBITDA for the quarter came in 14.2% lower than the estimated figure of Rs. 1013 crore.