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Nifty, Sensex under pressure – Thursday closing report
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Wipro IT Services to raise USD 750 million via Senior Notes issue
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JSW Energy announced that its subsidiary, JSW Hydro Energy will be issuing USD denominated senior secured notes (the Notes) aggregating to US $ 707 million (the Issue). The Notes will be listed on the Singapore Exchange Securities Trading.
The deemed date of allotment is 18 May 2021 and the maturity date is 18 May 2031. The proceeds of the issue will be used for repayment of existing green project-related Rupee-denominated indebtedness.
The Notes will bear interest from (and including) 18 May 2021 to (but excluding) 18 May 2031 at the rate of 4.125% per cent per annum, payable semi-annually in arear on 18 May and 18 November in each year. The first payment will be made on 18 November 2021.
The cement major reported 45.2% drop in consolidated net profit to Rs 1775.23 crore in Q4 FY21 as against Rs 3240.23 crore in Q4 FY20.
Net sales during the quarter increased 32.7% year-on-year (YoY) to Rs 14405.61 crore. Profit before tax in Q4 FY21 stood at Rs 2638.98 crore, up 80.8% from Rs 1459.43 crore in Q4 FY20. Current tax outgo increased 93.9% to Rs 478.20 crore in Q4 FY21 over Q4 FY20.
The cement major recorded 5.1% fall in consolidated net profit to Rs 5463.10 crore on 5.4% rise in net sales to Rs 44725.80 crore in the year ended 31 March 2021 over the year ended 31 March 2021.
The company s board has recommended a dividend of Rs 37 per share for the year ended March 2021.
UltraTech Cement net down 45 per cent on higher tax outgo
May 07, 2021
Last year’s profit was boosted by one-time tax write-back of Rs 2,024 cr
UltraTech Cement, an Aditya Birla Group company, reported that its net profit dipped 45 per cent in the March quarter to Rs 1,774 crore against Rs 3,237 crore, on the back of a higher tax outgo.
Moreover, the company had recorded a tax write-back of Rs 2,024 crore in the March quarter last year. This boosted its profit substantially last year.
Revenue from operations during the quarter under review was up 33 per cent at Rs 14,406 crore (Rs 10,854 crore).
The company paid Rs 387 crore as deferred tax in the quarter under review.
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