Capital goods maker has Thermax reported a 5% decline in the December quarter profits to Rs 95 crore year-on-year due to high input cost. Sales marginally grew 2% to Rs 1,269 crore on the back of weak order inflows.
However, the company said that its year-to-date profit after tax grew 8% to Rs 277 crore and its operating revenue was also 16% higher at Rs 3,617 crore, year-on-year.
The company said in the nine-month ended December 2011, its operating revenues rose 25% to Rs 4,200 crore y-o-y due to the full impact of revenues from the Denmark-based Danstoker Group it acquired on November 2010.
The order backlog of the group is at Rs 5,809 crore, compared with Rs 7,154 crore last year.
Shares of the company were trading at Rs 493.50, down 2.42% at 9:15 hours.
Source: www.moneycontrol.com
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Friday, February 3, 2012
Price hikes, volumes boost Marico Q3 cons net up 21% YoY
Marico 's third quarter consolidated net profit rose 21% year-on-year to Rs 84.12 crore, helped by good growth in volumes and price hikes taken during the quarter to offset high input costs.
The fast moving consumer goods company's net sales during the quarter were up 29% at Rs 1,058 crore.
Analysts on average were expecting Marico to report a net profit of Rs 85 crore on revenue of Rs 994 crore, according to a CNBC-TV18 poll.
"The year witnessed steep inflation in prices of input materials...The company chose to pass on a part of the input cost increase to consumers," Marico said on Wednesday.
Cost of copra, which is a key input for coconut oil and accounts for 40% of Marico's raw material costs, was 4% higher than a year ago. Safflower and Rice Bran prices were up 28% and 33% respectively in the third quarter.
Marico's gross margin in the third quarter was at 25.2%, compared with 24.4% in the year ago quarter. PBDIT (profit before depreciation, interest, taxes) margin declined to 12.7% from 13.4%.
The company said margins were likely to remain under pressure as it may not see any easing of raw material costs in the short term. It has chosen to prioritise expansion of consumer franchise over expansion of margins to ensure long term growth and success, Marico said.
The company's total expenses rose 9% year-on-year to Rs 954.92 crore.
Meanwhile, the Mumbai-based company saw a 20% volume growth in the quarter. Volumes in consumer products business were up 16%, Parachute coconut oil volumes rose 13% and Saffola refined edible oil volumes were up 15%. It saw 20% volume growth in value added hair oils.
International Business
Marico's International Business Group, which includes businesses in Bangladesh, Middle East and North Africa (MENA), South Africa and South East Asia, clocked a revenue of Rs 267 crore in the third quarter, up 39% from a year ago.
The IBG sales growth was boosted by International Consumer Products in Vietnam, a firm Marico had acquired in February 2011. The company expects its international business will continue to grow in "healthy" double digits.
Marico said it will focus on growing the categories, where it has significant market share, such as coconut oil in Bangladesh and male grooming products in Vietnam and the MENA region. It will also explore other countries as targets for expansion in the long term.
Kaya Skin Clinic
The company's Kaya Skin Clinics business reported a revenue of Rs 75 crore in the October-December quarter, with a same-store sales growth of 15%.
Kaya had a loss of Rs 14.5 crore at the PBIT level in the third quarter, but Marico feels it is showing early signs of recovery having posted growth at the same-store level for the fifth consecutive quarter.
"We feel reasonably confident that the business is on its way to record sustainable profit during fiscal 2014, if not earlier" it said.
Marico said it will remain cautious in Kaya's expansion plans, but will continue to add clinics at strategic locations to drive growth.
Marico shares closed up 2.1% at Rs 153.25 on NSE on Thursday.
Source: www.moneycontrol.com
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The fast moving consumer goods company's net sales during the quarter were up 29% at Rs 1,058 crore.
Analysts on average were expecting Marico to report a net profit of Rs 85 crore on revenue of Rs 994 crore, according to a CNBC-TV18 poll.
"The year witnessed steep inflation in prices of input materials...The company chose to pass on a part of the input cost increase to consumers," Marico said on Wednesday.
Cost of copra, which is a key input for coconut oil and accounts for 40% of Marico's raw material costs, was 4% higher than a year ago. Safflower and Rice Bran prices were up 28% and 33% respectively in the third quarter.
Marico's gross margin in the third quarter was at 25.2%, compared with 24.4% in the year ago quarter. PBDIT (profit before depreciation, interest, taxes) margin declined to 12.7% from 13.4%.
The company said margins were likely to remain under pressure as it may not see any easing of raw material costs in the short term. It has chosen to prioritise expansion of consumer franchise over expansion of margins to ensure long term growth and success, Marico said.
The company's total expenses rose 9% year-on-year to Rs 954.92 crore.
Meanwhile, the Mumbai-based company saw a 20% volume growth in the quarter. Volumes in consumer products business were up 16%, Parachute coconut oil volumes rose 13% and Saffola refined edible oil volumes were up 15%. It saw 20% volume growth in value added hair oils.
International Business
Marico's International Business Group, which includes businesses in Bangladesh, Middle East and North Africa (MENA), South Africa and South East Asia, clocked a revenue of Rs 267 crore in the third quarter, up 39% from a year ago.
The IBG sales growth was boosted by International Consumer Products in Vietnam, a firm Marico had acquired in February 2011. The company expects its international business will continue to grow in "healthy" double digits.
Marico said it will focus on growing the categories, where it has significant market share, such as coconut oil in Bangladesh and male grooming products in Vietnam and the MENA region. It will also explore other countries as targets for expansion in the long term.
Kaya Skin Clinic
The company's Kaya Skin Clinics business reported a revenue of Rs 75 crore in the October-December quarter, with a same-store sales growth of 15%.
Kaya had a loss of Rs 14.5 crore at the PBIT level in the third quarter, but Marico feels it is showing early signs of recovery having posted growth at the same-store level for the fifth consecutive quarter.
"We feel reasonably confident that the business is on its way to record sustainable profit during fiscal 2014, if not earlier" it said.
Marico said it will remain cautious in Kaya's expansion plans, but will continue to add clinics at strategic locations to drive growth.
Marico shares closed up 2.1% at Rs 153.25 on NSE on Thursday.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
Corporation Bank Q3 net profit up 5% at Rs 402 cr
State-owned Corporation Bank has reported a net profit of Rs 402 crore in the October-December quarter of FY12, a growth of 5% - in line with estimates - as compared to Rs 382.4 crore in a year ago quarter.
Net interest income went up 2.26% to Rs 861 crore - better than expected - from Rs 842 crore year-on-year.
CNBC-TV18 had expected profit after tax of Rs 403 crore and net interest income of Rs 816 crore.
Gross non-performing assets (NPAs) increased at 1.35% in the quarter ended December FY12 versus 1.32% in the previous quarter.
The bank made provisions of Rs 301 crore in the third quarter of FY12, a rise of 54% as compared to Rs 195 crore in the corresponding quarter of last fiscal.
Source: www.moneycontrol.com
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Net interest income went up 2.26% to Rs 861 crore - better than expected - from Rs 842 crore year-on-year.
CNBC-TV18 had expected profit after tax of Rs 403 crore and net interest income of Rs 816 crore.
Gross non-performing assets (NPAs) increased at 1.35% in the quarter ended December FY12 versus 1.32% in the previous quarter.
The bank made provisions of Rs 301 crore in the third quarter of FY12, a rise of 54% as compared to Rs 195 crore in the corresponding quarter of last fiscal.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
Hexaware Q4 net doubles YoY; sees 20% sales growth in 2012
Hexaware Technologies ' fourth quarter net profit more than doubled year-on-year to Rs 88.2 crore, helped by strong demand for outsourcing services and healthy bill rates, coupled with the rupee depreciation.
The software services exported reported revenue of Rs 431.9 crore, up 44% year-on-year.
On a sequential basis the net profit was up 36.3% sequentially, while revenue rose 18% from the July-September quarter.
"This has been a remarkably strong quarter on all fronts including 7.8% revenue growth in constant currency; 460 basis points expansion in EBIT margin, improved in operational metrics such as increased headcount, healthy bill rates and continued optimization of selling general and administration (SG&A) spend," said CEO and Vice Chairman PR Chandrasekar.
Hexaware said its average bill rate per hour for the fourth quarter was up sequentially to USD 73 for onsite services and "remained firm" at USD 23.
In US dollar terms, Hexaware's revenue in the fourth quarter was up 6.7% quarter-on-quarter to USD 84.1 million, better than its earlier guidance of USD 82.5 million, the company said on Thursday.
It has forward contracts worth USD 181.3 million at an average rate of Rs 48.30 and hedges worth 9.4 million euro at an average rate of Rs 69.61, maturing over the next 8 quarters.
Guidance:
Hexaware now expects revenue will increase minimum 20% year-on-year to at least USD 370 million in 2012. Revenue in the first quarter (January-March) is likely to be at least USD 87.5 million, up 4% sequentially, it said. Hexaware's guidance is at an exchange rate of Rs 49.27 to a US dollar.
Employee and client addition:
The company said it has been "steadily ramping up its delivery capability to cater to the demand uptake visible in the market place." It aims to add more than 1,500 employees this year. Its global headcount at the end of December 2011 was at 8,317. Fourth quarter attrition rate was 13.9%.
Hexaware added 15 clients in the fourth quarter, of which ten are based in the Americas and 5 in the Asia Pacific region. Americas accounted for 64.4% of its revenues, 28.7% revenue came from Europe and 6.9% from Asia Pacific.
Hexaware shares jumped more than 10% in morning trade on the company's strong earnings performance. At 10:00 hrs, Hexaware shares were at Rs 97.40, up 10.6% on NSE.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
The software services exported reported revenue of Rs 431.9 crore, up 44% year-on-year.
On a sequential basis the net profit was up 36.3% sequentially, while revenue rose 18% from the July-September quarter.
"This has been a remarkably strong quarter on all fronts including 7.8% revenue growth in constant currency; 460 basis points expansion in EBIT margin, improved in operational metrics such as increased headcount, healthy bill rates and continued optimization of selling general and administration (SG&A) spend," said CEO and Vice Chairman PR Chandrasekar.
Hexaware said its average bill rate per hour for the fourth quarter was up sequentially to USD 73 for onsite services and "remained firm" at USD 23.
In US dollar terms, Hexaware's revenue in the fourth quarter was up 6.7% quarter-on-quarter to USD 84.1 million, better than its earlier guidance of USD 82.5 million, the company said on Thursday.
It has forward contracts worth USD 181.3 million at an average rate of Rs 48.30 and hedges worth 9.4 million euro at an average rate of Rs 69.61, maturing over the next 8 quarters.
Guidance:
Hexaware now expects revenue will increase minimum 20% year-on-year to at least USD 370 million in 2012. Revenue in the first quarter (January-March) is likely to be at least USD 87.5 million, up 4% sequentially, it said. Hexaware's guidance is at an exchange rate of Rs 49.27 to a US dollar.
Employee and client addition:
The company said it has been "steadily ramping up its delivery capability to cater to the demand uptake visible in the market place." It aims to add more than 1,500 employees this year. Its global headcount at the end of December 2011 was at 8,317. Fourth quarter attrition rate was 13.9%.
Hexaware added 15 clients in the fourth quarter, of which ten are based in the Americas and 5 in the Asia Pacific region. Americas accounted for 64.4% of its revenues, 28.7% revenue came from Europe and 6.9% from Asia Pacific.
Hexaware shares jumped more than 10% in morning trade on the company's strong earnings performance. At 10:00 hrs, Hexaware shares were at Rs 97.40, up 10.6% on NSE.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
Wednesday, February 1, 2012
Welspun Corp posts consolidated loss at Rs 70 cr in Q3
Welspun Corp , a pipe manufacturer, has reported a consolidated loss of Rs 70 crore in the third quarter of FY12 as against profit of Rs 150 crore in a year ago quarter.
Consolidated net sales spiked 54% to Rs 2,450 crore versus Rs 1,590 crore year-on-year.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
Consolidated net sales spiked 54% to Rs 2,450 crore versus Rs 1,590 crore year-on-year.
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
Mahindra Satyam Q3 net spikes 29% to Rs 308 cr
Technology firm Mahindra Satyam has reported a much better than expected growth of 29.4% quarter-on-quarter in its consolidated net profit of Rs 308 crore in the October-December quarter of FY12.
The company earned forex gain of Rs 66.3 crore in the quarter ended December FY12 as against Rs 33.7 crore in an earlier quarter.
Consolidated revenues rose 8.9% to Rs 1,718 crore from Rs 1,577 crore quarter-on-quarter.
Mahindra Satyam said the rupee revenue growth was largely due to rupee depreciation.
CNBC-TV18 had expected net profit of Rs 220 crore and revenues of Rs 1,735 crore.
Attrition rate declined at 16% in the third quarter of FY12 versus 25% in the corresponding quarter of last fiscal.
EBITDA margins came in at 16.2% as against CNBC-TV18 poll of 15.3%. EBITDA margin was improved by 10% in one year.
The company has appointed advisors for merger with Tech Mahindra. Merger may possibly happen by October, says company.
A share closed up 3.81% at Rs 76.25 on the BSE. Its traded volume increased 109% to 3,228,348 shares versus 5-day average of 1,545,545 shares.
Source: www.moneycontrol.com
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Gaurav Agarwal
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DENIP Consultants Pvt Ltd
The company earned forex gain of Rs 66.3 crore in the quarter ended December FY12 as against Rs 33.7 crore in an earlier quarter.
Consolidated revenues rose 8.9% to Rs 1,718 crore from Rs 1,577 crore quarter-on-quarter.
Mahindra Satyam said the rupee revenue growth was largely due to rupee depreciation.
CNBC-TV18 had expected net profit of Rs 220 crore and revenues of Rs 1,735 crore.
Attrition rate declined at 16% in the third quarter of FY12 versus 25% in the corresponding quarter of last fiscal.
EBITDA margins came in at 16.2% as against CNBC-TV18 poll of 15.3%. EBITDA margin was improved by 10% in one year.
The company has appointed advisors for merger with Tech Mahindra. Merger may possibly happen by October, says company.
A share closed up 3.81% at Rs 76.25 on the BSE. Its traded volume increased 109% to 3,228,348 shares versus 5-day average of 1,545,545 shares.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
UCO Bank Q3 PAT up 10% at Rs 332 cr
UCO Bank has reported a profit after tax of Rs 332 crore in the third quarter of FY12, a growth of 10% as compared to Rs 301 crore in a year ago quarter.
Net interest income fell 2.7% to Rs 1,033 crore versus Rs 1,062 crore year-on-year.
The bank made provisions of Rs 420 crore in the October-December quarter of FY12, falling 8% year-on-year due to improvement in asset quality.
Other income increased to Rs 235 crore from Rs 214 crore during the same period.
On quarter-on-quarter basis, gross non-performing assets (NPAs) declined at 3.49% versus 3.64% and net NPAs too dropped at 2.04% versus 2.11.
Gross NPAs stood at Rs 3,695 crore in the quarter ended December FY12 versus Rs 3,542 crore and net NPAs were at Rs 2,131 crore versus Rs 2,022 crore quarter-on-quarter.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
Net interest income fell 2.7% to Rs 1,033 crore versus Rs 1,062 crore year-on-year.
The bank made provisions of Rs 420 crore in the October-December quarter of FY12, falling 8% year-on-year due to improvement in asset quality.
Other income increased to Rs 235 crore from Rs 214 crore during the same period.
On quarter-on-quarter basis, gross non-performing assets (NPAs) declined at 3.49% versus 3.64% and net NPAs too dropped at 2.04% versus 2.11.
Gross NPAs stood at Rs 3,695 crore in the quarter ended December FY12 versus Rs 3,542 crore and net NPAs were at Rs 2,131 crore versus Rs 2,022 crore quarter-on-quarter.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
Firstsource Solutions Q3 PAT falls 68% at Rs 6.85 cr
Firstsource Solutions , a business process outsourcing company, has reported a profit after tax of Rs 6.85 crore in the October-December quarter of FY12, falling 68% as compared to Rs 21.45 crore in the previous quarter.
Profit after tax was lower due to loss on FCCB buyback at Rs 7.14 crore as against profit of Rs 38 lakh and lower other income at Rs 63 lakh versus Rs 5.1 crore.
Total income rose 8.2% to Rs 577 crore from Rs 533 crore quarter-on-quarter.
Earnings before interest and tax declined to Rs 20.1 crore from Rs 23.7 crore during the same period. EBIT too dropped at 3.48% versus 4.4% QoQ.
Q3 highlights
* Revenue growth was driven by ramps in the telecom segment and favorable currency, partially offset by softness in the BFSI collections segment
* Margins slipped sequentially driven by investments and cost of growth towards recently won large deals
* Total contract value worth USD 160 million won in the quarter.
FCCB position
* The company repurchased FCCBs worth USD 21.6 million during the quarter.
* Outstanding FCCBs post the repurchase stand at USD 169.8 million.
Attrition also high for the company (post 180 days):
* Offshore (India and Philippines) went up to 56.4% Q3 compared to 48.8% in Q2 FY12
* Onshore (US and Europe) fell to 37.7% compared to 40.9% in Q2 FY12
* Domestic (India and Sri Lanka) rose to 88.8% compared to 74.7% in Q2 FY12
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
Profit after tax was lower due to loss on FCCB buyback at Rs 7.14 crore as against profit of Rs 38 lakh and lower other income at Rs 63 lakh versus Rs 5.1 crore.
Total income rose 8.2% to Rs 577 crore from Rs 533 crore quarter-on-quarter.
Earnings before interest and tax declined to Rs 20.1 crore from Rs 23.7 crore during the same period. EBIT too dropped at 3.48% versus 4.4% QoQ.
Q3 highlights
* Revenue growth was driven by ramps in the telecom segment and favorable currency, partially offset by softness in the BFSI collections segment
* Margins slipped sequentially driven by investments and cost of growth towards recently won large deals
* Total contract value worth USD 160 million won in the quarter.
FCCB position
* The company repurchased FCCBs worth USD 21.6 million during the quarter.
* Outstanding FCCBs post the repurchase stand at USD 169.8 million.
Attrition also high for the company (post 180 days):
* Offshore (India and Philippines) went up to 56.4% Q3 compared to 48.8% in Q2 FY12
* Onshore (US and Europe) fell to 37.7% compared to 40.9% in Q2 FY12
* Domestic (India and Sri Lanka) rose to 88.8% compared to 74.7% in Q2 FY12
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
Subex posts profit at Rs 16.37 cr in Q3
Subex has reported a profit of Rs 16.37 crore in the third quarter of FY12 as against loss of Rs 12.9 crore in the previous quarter, seeing nice turnaround due to lower MTM loss on FCCBs.
Adjusted PAT rose 28.6% to Rs 31.5 crore versus Rs 24.5 crore quarter-on-quarter. The company reported an exceptional loss of Rs 12.17 crore versus loss of Rs 37.8 crore due to mark-to-market loss on FCCBs.
Subex got fund raising approval of USD 135 million during October-December quarter.
Net sales increased to Rs 131.4 crore from Rs 128.1 crore quarter-on-quarter. EBITDA too moved up to Rs 44.4 crore from Rs 37.2 crore.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
Adjusted PAT rose 28.6% to Rs 31.5 crore versus Rs 24.5 crore quarter-on-quarter. The company reported an exceptional loss of Rs 12.17 crore versus loss of Rs 37.8 crore due to mark-to-market loss on FCCBs.
Subex got fund raising approval of USD 135 million during October-December quarter.
Net sales increased to Rs 131.4 crore from Rs 128.1 crore quarter-on-quarter. EBITDA too moved up to Rs 44.4 crore from Rs 37.2 crore.
Source: www.moneycontrol.com
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DENIP Consultants Pvt Ltd
PTC India Q3 PAT drops 75% to Rs 9 cr on high interest cost
PTC India has reported a profit after tax of Rs 9 crore in the third quarter of FY12, a massive fall of 75% as compared to Rs 38 crore in a year ago quarter due to fall in other income and increase in interest cost.
Other income declined 73% to Rs 4 crore while interest expenses increased 12 times to Rs 10 crore year-on-year.
Total income was down by 24% to Rs 1,330 crore from Rs 1,758 crore. EBITDA too fell 49% to Rs 21 crore from Rs 41 crore YoY.
Expenditure slipped 24% to Rs 1,310 crore versus Rs 1,718 crore during the same period. Operating profit margin dropped at 1.58% versus 2.34% year-on-year.
Decline in trading volumes possibly impacting top line growth
* Traded volumes impacted due to delayed payments from SEBs as a result of which PTC has stopped supplying power to some states
* Rising competitive intensity in India's power trading market will impact average trading margins
* Further, higher receivables possibly were bringing down profitability
Source: www.moneycontrol.com
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Head Dealer
DENIP Consultants Pvt Ltd
Other income declined 73% to Rs 4 crore while interest expenses increased 12 times to Rs 10 crore year-on-year.
Total income was down by 24% to Rs 1,330 crore from Rs 1,758 crore. EBITDA too fell 49% to Rs 21 crore from Rs 41 crore YoY.
Expenditure slipped 24% to Rs 1,310 crore versus Rs 1,718 crore during the same period. Operating profit margin dropped at 1.58% versus 2.34% year-on-year.
Decline in trading volumes possibly impacting top line growth
* Traded volumes impacted due to delayed payments from SEBs as a result of which PTC has stopped supplying power to some states
* Rising competitive intensity in India's power trading market will impact average trading margins
* Further, higher receivables possibly were bringing down profitability
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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