Hero Motocorp Net Climbs; Adani Power Net Loss Narrows

Mukesh Buch
06 Aug, 2014
New York City

Adani Power net loss narrowed but revenues fell 9%. Adani Ports profit climbed 36%. Apollo Tyres net soared 37%. Bata net dropped but sales soared 9%. Hero Motocorp net increased 3% and revenues soared 14%. IDBI Bank struggled with loan losses.

[R]6:00 PM Mumbai – Adani Power net loss narrowed but revenues fell 9%. Adani Ports profit climbed 36%. Apollo Tyres net soared 37%. Bata net dropped but sales soared 9%. Hero Motocorp net increased 3% and revenues soared 14%. IDBI Bank struggled with loan losses.[/R]

The Sensex Index dropped 242.74 or 0.9% to close at 25,666.27 The CNX Nifty slumped 74.50 to 7,672.05.

Gainers & Losers

Adani Power Ltd gained 0.7% to Rs 56.75 after the company reported net loss in the first-quarter narrowed to Rs 303 crore from Rs 1,198 crore a year ago period and revenues surged 104% to Rs 5,248 crore.

Adani Ports & Special Economic Zone Ltd rose 0.5% to Rs 268.05 after net profit in the first-quarter climbed 36.04% to Rs 568 crore and total revenue declined 8.8% to Rs 1,430.38 crore.

Apollo Tyres Ltd plunged 7.1% to Rs 171.95 after net profit in the first-quarter soared 37.3% to Rs 227.94 crore and total revenue jumped 2.4% to Rs 3,276.53 crore.

Bata India Ltd slumped 1.7% to Rs 1,231.35 after net profit in the second-quarter dropped 4.1% to Rs 59.39 crore and net sales soared 8.6% to Rs 621.58 crore.

Capital First Ltd decreased 1.6% to Rs 251.80 after net profit in the first-quarter soared 190.7% to Rs 22.01 crore and revenues surged 31.6% to Rs 313.51 crore.

EIH Limited fell 0.7% to Rs 99.50 after net profit in the first-quarter declined 39.2% to Rs 6.41 crore and net sales climbed 5.2% to Rs 280.91 crore.

Hero Motocorp Ltd increased 0.5% to Rs 2,596.55 after net profit in the first-quarter jumped 2.6% to Rs 562.76 crore and total revenue soared 14% to Rs 7,149.59 crore.

IDBI Bank Ltd plunged 6.8% to Rs 85 after net profit in the first-quarter plunged 65.8% to Rs 104.81 crore and revenues edged up 0.05% to Rs 6,731.62 crore.