Colgate Palmolive Q1 net down 18% YoY as expenses rise

Oral and personal care product maker Colgate Palmolive India missed street expectations as first quarter net profit fell 17.7% year-on-year to Rs 100.44 crore due to higher advertising and sales expenses and a rise in raw material costs.

The company’s net sales for the April-June quarter were up 15.6% from a year ago to Rs 611.1 crore.

Analysts on an average had expected Colgate’s first quarter net profit at Rs 130 crore on net sales of Rs 619 crore.

There has been fierce competition in the toothpaste category, especially between Colgate and Hindustan Unilever, and that was a major drag on the company’s earnings.

During the three-month period, Colgate’s advertising and sales promotion spends rose 42.3% to Rs 98.79 crore. A near 35% year-on-year increase in raw and packing material costs at Rs 207.78 crore also hurt earnings.

Colgate’s volumes rose 12% year-on-year in April-June, with a 14% growth in toothpastes.

Colgate Palmolive India shares were traded up 1% at Rs 987 on NSE in afternoon trade.


Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Allahabad Bank Q1 net profit up 20.5% at Rs 418 cr

Allahabad Bank has reported a 20.5% rise in its first quarter FY12 net profit to Rs 418 crore against Rs 347 crore in the year ago period.

Net interest income jumped over 38% to Rs 1,176 crore from Rs 850 crore year-on-year.

Gross non-performing asset (NPA) increased 1.62% against 1.5% during the same period.

Net NPA too moved up 0.6% versus 0.4%. Provisions increased 112% to Rs 320 crore from Rs 151 crore year-on-year.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

JSW Holdings Q1 net profit at Rs 1 cr

JSW Holdings has reported a first quarter FY12 net profit of Rs 1 crore against Rs 16 crore in the year ago period.

Income from operations stood at Rs 2 crore from Rs 18 crore year-on-year.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Praj Industries Q1 net profit up 31% at Rs 13.6 cr

Praj Industries has reported nearly 31% rise in first quarter FY12 standalone net profit to Rs 13.6 crore against Rs 10.4 crore in the year ago period.

Standalone net sales increased over 75% to Rs 164.3 crore from Rs 93.7 crore year-on-year.

Consolidated net profit jumped more than 67% to Rs 14.4 crore from Rs 8.6 crore.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Motilal Oswal Q1 cons net down 13% at Rs 21.2 cr (QoQ)

Motilal Oswal has reported a 13% fall in its consolidated net profit to Rs 21.2 crore against Rs 24.3 crore in previous quarter.

Consolidated revenue declined 14% to Rs 107 crore from Rs 124.4 crore quarter-on-quarter.

Source: www.moneycontrol.com

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Gaurav Agarwal
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DENIP Consultants Pvt Ltd

NIIT Q1 cons net profit at Rs 13.1 cr

NIIT has reported consolidated net revenue of Rs 321.2 crore in the first quarter FY12, representing a 16% growth YoY. System wide revenue grew by 17% YoY to Rs 469.2 crore.

The company’s PAT for the quarter stood at Rs 13.1 crore. The EBITDA was at Rs 30.7 crore, reflecting a margin of 10%.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Kotak Mahindra Bank Q1 cons net up 27% at Rs 416 cr YoY

New generation private sector lender Kotak Mahindra Bank’s April-June net profit rose 35% to Rs 252 crore on the back of robust loan book growth. Net interest income (NII) increased 18% to Rs 568 crore during the quarter. However, the net interest margin (NIM) has contracted by 30 bps to 4.90%.


“Due to rising cost of funds, our NIM is down,” said Dipak Gupta, executive director, Kotak Mahindra Bank.

“We expect maintain a NIM 5%. We will have a secular loan growth at around 30-35% from all segments including corporate, commercial and consumer loans. The book show grows at 25-30% in FY12. Moreover, we have not seen any stress on our asset quality.”

During the quarter, the bank’s standalone loan book expanded 39% to Rs 32,339 while deposits grew 29% to Rs 31,047 crore. CASA ratio (Current Account Savings Account) fell from 28% to 27%.

Gross non-performing assets (NPAs) increased from 1.23% to 1.88% while net NPAs rose from 0.50% to 0.66%. According to the CFO of the bank, Jaimin Bhatt, June quarter amounted to a slippage of around Rs 30 crore and it was from all sectors.

Consolidated net profit of Kotak Mahindra Bank has jumped 27% (YoY) in the first quarter of FY12. Consolidated net profit was at Rs 416 crore from Rs 327.7 crore in the year-ago period.

As on June 30, bank’s capital adequacy ratio stood at 18.2%, much above the RBI’s mandated 9% requirement. The lender has no plan to raise capital.

Kotak Mahindra Bank shares were at Rs 475.90, down Rs 14.60, or 2.98% at the close of Thursday’s trade.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Rallis India Q2 cons profit up 59.45% at Rs 23.12 cr

Rallis India has reported over 59% rise in second quarter 2011 consolidated net profit to Rs 23.12 crore against Rs 14.5 crore in the year ago period.

Consolidated net sales jumped 48% to Rs 291 crore from Rs 196 crore year-on-year.

Consolidated results included earnings of Metahelix.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

3i Infotech Q1 net profit up 25% at Rs 46 cr

3i Infotech has reported nearly 25% fall in first quarter FY12 net profit to Rs 46 crore against Rs 61.2 crore in the year ago period.

Net sales too declined 25% to Rs 479 crore from Rs 637 crore year-on-year.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Coromandel International Q1 net up 32.5% at Rs 159 cr

Coromandel International has reported a 32.5% rise in its first quarter FY12 net profit to Rs 159 crore against Rs 120 crore in the year ago period.

Net sales shot up 15.5% to Rs 1,790 crore from Rs 1,549 crore year-on-year.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd