Infrastructure and Vehicle Makers Show Rising Quarterly Sales in India

Sarla Buch
03 Nov, 2015
New York City

Scooter and motorcycle sales in October surged in India. Adani Power said loss narrowed but RPower said quarterly profit rose. ABB India net soared 31%. Berger Paints net soared 33%. Power Finance profit jumped 20% on 13% increases in revenues.

Infrastructure and Vehicle Makers Show Rising Quarterly Sales in India

[R]6:00 PM Mumbai, India – Scooter and motorcycle sales in October surged in India. Adani Power said loss narrowed but RPower said quarterly profit rose. ABB India net soared 31%. Berger Paints net soared 33%. Power Finance profit jumped 20% on 13% increases in revenues.[/R]

Stocks in Mumbai trading gained and the rupee edged lower as investors digested latest batch of earnings from power finance company and vehicle makers.

Rupee weakened 5 paisa to 65.64 against one U.S. dollar.

The Sensex Index rose 31.44 to close at 26,590.59. The CNX Nifty added 9.90 to 8,060.70.

Gainers & Losers

ABB India Limited decreased 1.5% to ₹1,254.80 after the automation technology company reported net in the third-quarter soared 31.1% from a year ago to ₹59 crore.

Net revenues in the quarter gained 6.7% to ₹1,969 crore.

Adani Power Limited dropped 2.7% to ₹30.75 after the power producer said net loss in the second-quarter narrowed from a year ago to ₹369.08 crore.

Net revenues in the quarter surged 38.5% to ₹5,783.90 crore.

Berger Paints India Limited gained 2.6% to ₹224.55 after the paint maker reported net in the second-quarter surged 32.7% from a year ago to ₹88.96 crore.

Net sales in the quarter increased 5.7% to ₹1,167.31 crore.

Hero MotoCorp Limited increased 1.2% to ₹2,580 after the largest two-wheeler maker said October sales jumped 11.2% to 625,420 units.

The company said domestic scooter sales in the month soared 74.6% to a record 108,000 units.

Jaypee Infratech Limited declined 5.1% to ₹12.39 after the infrastructure developer said net in the second-quarter swung from a year ago to a loss of ₹159.57 crore.

Net sales in the quarter plunged 60.5% to ₹337.77 crore.

Power Finance Corporation Limited advanced 2.9% to ₹249.70 after the government agency involved in financing power projects said net in the second-quarter soared 20.4% from a year ago to ₹1,695.30 crore.

Net sales in the quarter advanced 12.5% to ₹7,024.09 crore.

Reliance Power Limited edged down 0.7% to ₹49.45 after the power producer said net in the second-quarter surged 37% from a year ago to ₹346 crore.

Net sales in the quarter soared 52% to ₹2,856 crore.

SML Isuzu, Ltd gained 1% to ₹1,354.40 after the auto maker said October sales soared 41.51% to 784 vehicles.

TVS Motor Company Limited advanced 4.9% to ₹287.50 after the auto maker reported October sales jumped 14% to 274,622 units.

The vehicle maker said domestic two-wheeler sales in the month advanced 13% to 231,491 units and total exports jumped 20% to 41,682 units.