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RJio’s maiden profit in Q3, driven by healthy ARPU

RJio, surprised the market with its profit, which comes in its second quarter of commercial launch. It reported a net profit of Rs.504 crore during the December quarter on a standalone revenue of Rs.6879 crore. 

RJio recorded an industry-leading EBITDA margin of 38.2 per cent. This is 440 basis points higher than leader Bharti’s India wireless. With a 160.1 million subscribers, RJio has India’s largest wireless data subscriber base, with the gap widening from the other operators. 

The company had many issues related to supply of JioPhone due to non-availability of the critical components such as chipset, battery, etc. However, it claimed to have overcome supply challenges to resume JioPhone supply. 

The company has said that it is on track to achieve 99 per cent population coverage during the year.

 

Apollo Tyres to set up Rs.1800 crore factory in AP

Leading tyre maker Apollo Tyres will set up a new manufacturing complex in Andhra Pradesh involving an investment of Rs.1800 crore.

The tyre factory, which will be its 7th unit globally, will come up over a 200-acre site in Chinnapanduru village near Sri City in Chittoor district. The foundation stone was laid last month by the Chief Minister N Chandrababu Naidu, in the presence of Onkar S Kanwar, Chairman and Neeraj Kanwar, Vice Chairman & Managing Director.

The unit, which is coming up in a backward district of the state, is expected to generate direct employment to 700 and to much more people indirectly. The factory is expected to be ready in about two years.

“Five years ago, we were a small player in the PCR segment. But now, we are Number Two in India in the segment with strong supplies to vehicle makers and aftermarket demand. The brand has strengthened itself over these years in the domestic market, while our exports have also been growing,” said Kanwar.

 

TVS Motor reports strong performance 

Leading two and three-wheeler company TVS Motor Company has reported a 16 per cent growth in its net profit at Rs 154 crore for the quarter ended 31 December, 2017 when compared with Rs.133 crore in a year-ago period.

The company’s total revenues (excluding excise duty/GST) grew by 23.5 per cent to Rs.3685 crore as against Rs.2983 crore in Q3 of previous fiscal, on the back of strong sales growth in domestic and export markets. 

The company has said that its premium bike Apache 310cc, launched in December 2017, has been received well and the company is hoping to sell about 10,000 units a month in the first year.

The management has given capacity guidance of Rs.650 crore and Rs.500 crore for FY18 and FY19 respectively. It’s total capacity currently stands at 4.5 million units a year.

 

Boom in vehicle finance buoys Chola’s Q3 net

Murugappa Group Cholamandalam Investment & Finance Company Ltd has exhibited a strong performance during the third quarter of this fiscal, aided by robust growth in disbursements in vehicle finance segment.

Its net profit grew 53 per cent at Rs.249 crore in December quarter when compared with Rs.163 crore in a year-ago period. Total income from operations stood at Rs.1383 crore as against Rs.1176 crore in a year ago period, an increase of 18 per cent.  The Board announced an interim dividend of 45 per cent (Rs.4.5 per share).

 

Solar remains the driver of clean energy capacity

Solar power segment continues to support renewable energy capacity addition in the country.

According to Mercom Capital, the cumulative installed capacity in the solar power segment has touched 20 GW. In this, the utility-scale cumulative installations account for 18.4 GW, while rooftop solar capacity accounts for the remaining 1.6 GW.

The top state for solar installations was Telangana, followed by Karnataka, Andhra Pradesh and Rajasthan.

Union Ministry of New and Renewable Energy (MNRE) has fixed a total capacity addition target of 14,550 MW for the current fiscal. In this, solar power is expected to add 10,000 MW and wind is supported to add a new capacity of 4000 MW.

During the 9-month period of this fiscal, the renewable energy sector has added 5602 MW of new capacity, of which 85 per cent of the capacity came from the solar segment. 

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