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On August 17, 2017 HDFC Mutual Fund sold 37,80,725 shares of Huhtamaki PPL at Rs 230 on the BSE.
HDFC Mutual Fund on Thursday sold five percent stake in packaging firm Huhtamaki PPL Ltd (HPPL) for nearly Rs 87 crore through an open market transaction.
For the six months ended June 17, net sales stood at Rs 1022.62 crore, down by 7% YoY. OPM was lower by 340 bps to 9.2% resulting in an OP of Rs 94.30 crore, down by 32%. GST transition led to destocking at dealers end and affected the overall operating performance. Other income was higher by 9% to Rs 8.86 crore resulting in a PBIDT de growth of 30% to Rs 103.16 crore. Interest cost and depreciation were lower by 13% and 9% respectively to Rs 17.
The consolidated performance for the 12 months ended Dec15, includes 8 months consolidated performance of positive packaging and hence the YoY comparison is not done with the consolidated performance for 9 months ended Dec16 period. For the 12 months ended Dec16, consolidated net sales stood at Rs 2177.78 crore. OPM stood at 11.2% resulting in OP of Rs 244.78 crore. Other income stood at Rs 17.33 crore resulting in PBIDT of Rs 262.
Huhtamaki PPL was down 3.44% to Rs 259.55 at 10:53 IST on BSE after net profit fell 52.6% to Rs 16.32 crore on 2.8% decline in net sales to Rs 505.61 crore in Q1 March 2017 over Q1 March 2016.
Prominent firms such as Aarti Ind, AB Fashion, ADF Foods, Century Textiles, D-Link, Dr Reddy’s Labs, Dr Lal Path, GIPCL, Hinduja Ventures, Inox Wind, Jindal Stainless, NDTV, Oriental Bank, Huhtamaki PPL, Piramal Enterprises, PNB Gilts, PNB Housing, Relaxo Footwear, RSWM, Spice Mobility, Srikalahasthi Pipes, Titan Company, Tata Teleservices (M), TVS Electronics, UCO Bank, Varun Beverages and Venky’s (India) will announce their quarter and full-year results.
Cyient, CRISIL, Diamond Power, Hindustan Zinc, Mastek, MindTree and Lloyds Steels and Huhtamaki PPL will announce their results on Thursday.
Consequent to the above allotment, the paid up equity share capital of the Company has increased from Rs. 14,54,23,868/- consisting of 7,27,11,934 equity shares of face value Rs. 2/- each to Rs. 15,10,43,868/-, consisting of 7,55,21,934 equity shares of face value Rs. 2/- each
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