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Results: 28 of 50 Nifty Companies Show 0.6% decline in Net Profit for Q4 2016, Annual Growth at 5.4%

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Q4 Results are out! As the Nifty 50 companies line up to disclose their performance report, we bring you a summary of their results along with the schedule of the results to come. (check out the earlier post here)

Nifty 50 Companies FY16 Results Schedule for the quarter ended March 31, 2016 (28)

Nifty 50 Companies FY16 Results for the year ended March 31, 2016

The Latest:

  • Asian Paints – The profitability of the company improved due to lower material cost during the year. The company also witnessed double digit volume growth in Q4 in its Decorative paints business. and due to the secondary demand during the festival season.
  • Bank of Baroda – The bank reported a net loss of Rs 3,230 crore against net profit of Rs 598.35 crore in the corresponding quarter a year ago. It has also as part of a clean-up exercise, provided Rs 6,857 crore towards provisions and contingencies. 

Here is what PS Jayakumar, Managing Director & CEO had to say, “The year 2015-16 has been one of transformation addressing NPAs. We are excited by the transformation journey we have embarked on, which will give us leadership position in the banking and financial services sector.

  • Dr. Reddy’s Laboratories saw a drop of 87% in Net Profit on the back one-time Venezuela write-off due to continuous constraints.  
    • Received two final approvals and one tentative approval of the NDAs filed by the Proprietary Products Business. Zembrace launched in April 2016.

    • Gross Profit Margin at 59.6%, improved by 200 bps over last year.

    • Research & Development (R&D) spend at Rs. 17.8 billion, 11.5% of revenues. Continued focus on building complex generics and differentiated products pipeline.

Here is what G V Prasad, CEO and co-chairman of the company had to say, “It’s been a challenging quarter for Dr Reddy’s. While there has been a marginal decline in revenue, there has been a great impact on profitability. This is mainly due to the provision, made as a matter of actively abundant precaution, to write down our outstanding receivables from Venezuela. We will continue to actively engage with the Venezuelan government to provide affordable medicine to fulfil the need of people of the country, subject to repatriation of funds.”

Nifty 50 Companies FY16 Results for the quarter ended March 31, 2016 (28_2)

Nifty 50 Companies FY16 Results for the quarter ended March 31, 2016

Nifty 50 Companies FY16 Results for the year ended March 31, 2016 (28_2)

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Disclaimer

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