Reliance Industries Q3
-Standalone net profit up 4 percent at Rs 8,022 crore versus Rs 7,704 crore (QoQ).
-Standalone total income at Rs 66,606 crore versus Rs 64,344 crore (QOQ).
-Standalone EBITDA at Rs 10,604 crore versus Rs 10,555 crore (QoQ).
-Standalone EBITDA margin at 15.9 percent versus 16.4 percent (QoQ).
-Gross refining margin at USD 10.80/barrel versus USD 10.10/barrel (QoQ).
-Standalone petchem sales up 1.8 percent, EBIT down 3 percent (QoQ).
-Standalone petchem EBIT margin at 15.5 percent versus 16 percent (QoQ).
-Standalone refining sales up 2.6 percent, EBIT up 3.8 percent (QoQ).
-Standalone refining EBIT margin at 11.5 percent versus 11.4 percent (QoQ).
-Singapore GRM at USD 6.70/barrel versus USD 5.10/barrel (QoQ).
-Consolidated net profit up 4 percent at Rs 7,506 crore versus Rs 7,205 crore (QoQ).
-Consolidated total income up 3 percent at Rs 84,189 crore versus Rs 81,651 crore (QoQ).
Finance Minister Arun Jaitley says
-Have arrived at a decision on dual control.
-Entire tax base will be shared between Centre & States.
-Assessees above Rs 1.5 crore will be shared 50:50 between Centre, States.
-Power to levy collect IGST (Integrated Goods and Services Tax Act) is with the Central Government.
-Assessments in conflicts w.r.t place of supply will be assessed by Centre.
-Area of 12 nautical miles into the territorial waters is under Centre.
-States can collect tax under area of 12 nautical miles into territorial waters.
-All the ministers present agreed to the proposal except West Bengal.
-Changed laws will come up before GST council on February 18.
-Broad view in council that July 1 realistic date for GST roll-out.
-Each assessee will be assessed only by 1 authority.
-Computer programming will decide on division of 90:10, 50:50 for dual control European Medicines Agency on Divi's Labs : To CNBC.
-TV18 -Assessing findings of 483 issued by US FDA on company.
-Further action post taking European Union inspection history of site into consideration.
-Outcome of March 2016 inspection by Slovenian Authorities was positive.
-Unit 2 was issued good manufacturing practice certificate by EU regulators in March 2016.
Vedanta Resources
-S&P raises rating of Vedanta Resources.
-Rating upgraded to B+ from B.
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MRPL
-Company plans on Rs 24,000 crore expansion plan.
-New expansion plans to increase capacity by 10 metric ton to 25 MT.
RBI
-Raises ATM withdrawal limit to Rs 10,000 per day from Rs 4,500.
-Withdrawal limit on current accounts increased to Rs 1 lakh per week from Rs 50,000.
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