KOLKATA: Graphite India reported a 117 per cent jump in its net profit at Rs 62 crore for the fourth-quarter (Q4) ended March 31, 2017, compared to Rs 28.6 crore profit posted in the corresponding period previous fiscal.
“We expect the domestic steel industry to remain robust with strong government policy support in the long term and is optimistic about the prospects of the graphite electrodes industry,” he added.
However, the industry dynamics has changed with realizations firming up from the beginning of this financial year.
“Steel demand in the last fiscal has been stronger than expected with the upside coming mostly from China.
We expect the benefit of improved pricing to reflect in our financial performance going forward.
Singapore Airlines Group (SIA) reported a FY2016-17 net profit of S$360 million ($259 million) for the fiscal year through March 31, down 55% from S$804.4 million in the previous year.
Expenses were down 2.1% YOY to S$14.2 million, producing an operating profit of S$622.8 million, down 8.6% YOY.
SIA attributed the loss in part to the fourth-quarter net loss of S$138 million, reversed from a net profit of S$225 million in the FY2015-16 period.
Budget Aviation Holdings—comprising Scoot and Tigerair—posted an operating profit of S$67 million for the financial year, up 60% YOY.
SilkAir saw its operating profit increase 11% YOY to S$101 million.
Grasim posts Q4 net profit of Rs1,063 crore
Three analysts polled by Bloomberg expected the firm’s consolidated net profit to come in at Rs745.50 crore and revenue at Rs7,733.80 crore.
Grasim has four lines of business—viscose staple fibre (VSF), cement (UltraTech Cement), chemicals and textiles.
Photo: ReutersMumbai: Grasim Industries Ltd, the flagship company of the Aditya Birla Group, reported a marginal increase in consolidated net profit at Rs1,063 crore for the fourth quarter from Rs1,055.26 crore a year ago.
Revenue was up 6% at Rs11,409.41 crore in the quarter ended 31 March against Rs10,763.70 crore a year ago.
Grasim has four lines of business—viscose staple fibre (VSF), cement, chemicals and textiles.