US-based IT services major Cognizant on Wednesday reported a 16.3 per cent rise in net profit at $324.3 million for the fourth quarter ended December 31, helped by broad-based growth across industries and geographies.
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Bharat Earth Movers has posted a 4% increase in net profit to Rs 18.07 crore for the fourth quarter ended March 31, 2003 when compared with Rs 17.36 crore for the corresponding quarter last fiscal.
Given the uncertainty on the US economic outlook, the rising rupee, and the lack of clarity on imposition of fringe benefit tax on stock options, analysts believe the companies may strike a note of caution on FY08 earnings.
The bank expects to grow loan book by 10 per cent in the current financial year with calibrated exposure to corporate accounts and thrust on the retail segment.
Vedanta Limited (Vedanta) helping its parent and group holding company Vedanta Resources to deleverage its balance sheet has started to strain its balance sheet. Vedanta's gross debt (consolidated) was up 24.3 per cent year-on-year (YoY) in FY23 and reached a six-year high of Rs 66,628 crore by the end of March. Similarly, its net debt went up 20.3 per cent YoY to Rs 45,706 crore at the end of FY23, up from Rs 38,228 crore a year ago; it was the highest since FY20.
Benchmark stock indices Sensex and Nifty cut short their four-day gaining streak to close lower by half a per cent on Wednesday due to profit-taking in banking oil and metal stocks amid weak trends in global markets.
An increase of 10% in net profit is expected as higher provisioning would negate most of the gain on account of expansion of loan portfolios.
Helped by all-round business growth, country's largest software exporter Tata Consultancy Services on Wednesday reported 22.1 per cent jump in net profit at Rs 3,596.9 crore for the March quarter, meeting expectations.
The company had posted a net profit of Rs 1,614.36 crore (Rs 16.14 billion) in the same period of previous fiscal.
State Bank of India, the country's largest bank, said on Thursday its March quarter net profit rose 20 per cent year-on-year on a surge in retail lending in a buoyant economy, but its shares fell as the numbers were below expectations.
Hindustan Lever on Tuesday reported a consolidated net profit of Rs 1,890.53 crore (Rs 18.90 billion) for the year ended December 31, 2006 as against Rs 1,355.92 crore (Rs 13.55 billion) in FY05.
Indian software services firm MphasiS BFL Ltd said on Wednesday its January-March net profit rose 41 per cent from a year earlier to Rs 187.2 million.
Its total income was down 4.9 per cent at Rs 14,304.6 crore
Merck Ltd has posted a net profit of Rs 106.98 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 110.74 million in the quarter ended December 31,2001.
The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
FSN E-Commerce Ventures, the parent of Nykaa, has had a roller-coaster ride since listing last November. The initial public offering (IPO) was priced at Rs 1,125 apiece, and the stock listed at a 96 per cent premium, closing the first day at Rs 2,205 apiece. It subsequently hit a high of Rs 2,573 in late November, but has seen steady selling since, hitting a low of Rs 1,208 in May.
Leading telecom operator Bharti Airtel Ltd on Thursday posted a 49 per cent increase in net profit at Rs 682 crore (Rs 6.82 billion) for the fourth quarter ended March 31, 2006, riding on strong customer additions.
The trend in corporate earnings suggests that index earnings could fall to the levels last seen in early 2014.
Punjab National Bank on Monday allayed concerns about its exposure to Adani companies and noted that its loans to the group are diversified into 8-9 companies, which are generating sufficient cash. Atul Kumar Goel, the bank's MD & CEO, in a post-earnings call said total exposure to Adani group, so far, stands at Rs 7,000 crore, of which Rs 2,500 crore is in the airport sector. He further said there is "no worry as the exposure is not very big" and that the bank is keeping an eye on the development that is taking place.
Infosys on Friday posted a 3.5 per cent rise in quarterly net profit, lagging analyst estimates.
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The total income of the company rose by 18.87% to Rs 87,477 cr.
Airtel reported a 19 per cent rise in its ARPU in the March quarter, as it removed the non-paying users from its network.
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According to the Icra report, earnings before interest, tax, depreciation and amortisation margin of its sample declined by 44 basis points on a YoY basis and 23 basis points on a quarter-on-quarter basis to 16.6 per cent.
Asea Brown Boveri Ltd has posted a net profit of Rs 410.68 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 307.26 million in the corresponding period last fiscal.
The country's second largest private sector lender HDFC Bank on Thursday reported a net profit of Rs 630.88 crore (Rs 6.30 billion) in the fourth quarter of the financial year ended March 31, 2009.
The stock of two wheeler maker Eicher Motors was the highest gainer among BSE 100 stocks, rising 6.6 per cent in trade on Friday. The gains came on the back of better than expected performance in the March quarter of the 2022-23 financial year (Q4FY23) and earnings upgrades by brokerages. Standalone revenues (Royal Enfield) were up 19.9 per cent year-on-year (YoY), led by an 18 per cent growth in volumes and a marginal uptick in realisations.
The One97 Communications stock saw a surge in interest as the company's operating performance update for August was considered positive by the Street. In addition, there was a news buzz as the company released a new hitech soundbox, which has longer battery life and processes all major cards. The performance indicates that the company, which is better known by its Paytm brandname, is still on course to achieve its guidance of going cashflow positive by the end of the 2023-24 financial year (FY24).
Domestic stock markets would be driven by inflation numbers, global trends, and the last batch of Q4 earnings this week, analysts said. Markets will also react to industrial production data and consumer inflation numbers that were released after market hours on Friday. "Participants will react to macroeconomic data viz. IIP and CPI first, which were released post-market hours on Friday.
India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7 per cent jump in its consolidated net profit to Rs 1,834 crore (Rs 18.34 billion) for the fourth quarter ended June 30, 2014.
Net profit in the January-March quarter stood at Rs 3,905.16 crore (Rs 39.05 billion) from Rs 5,556.77 crore (Rs 55.56 billion) a year ago, IOC chairman R S Butola told reporters in New Delhi.
The standalone total income of the bank rose to Rs 36,331 crore (Rs 363.31 billion) during the quarter, from Rs 33,959 crore (Rs 339.59 billion) in the corresponding period a year ago, SBI said in a statement.
Wipro results follow estimate-beating earnings by larger rivals Tata Consultancy Services Ltd and Infosys Ltd .
An acute drug shortage in the US and stable pricing along with product launches are likely to boost revenues of India's pharmaceutical companies during the first quarter of this financial year, analysts said. Most brokerages estimate a top line growth of around 14-15 per cent, with earnings before interest, taxes, depreciation, and amortisation (Ebitda) growth of 24-30 per cent for Q1 of FY24. Hospitals are, however, likely to report lower occupancy rates, and diagnostics companies may witness an impact from delayed monsoon.
Its consolidated net profit during the same quarter (January-March) a year ago stood at Rs 1,776.74 crore (Rs 17.76 billion).
Sensex surged 486 points or 1.9%.
Philips India Ltd has posted a net profit of Rs 381.80 million for the quarter ended December 31, 2002 as compared to a net loss of Rs 221.70 million in the corresponding period last fiscal.
