LIC Housing Finance Q4 PAT down 19.4% QoQ at Rs 254 cr

LIC Housing Finance , a subsidiary of Life Insurance Corporation, has reported a decline of 19.4% quarter-on-quarter in its profit after tax of Rs 254 crore for the quarter ended March 31, 2012. In the previous quarter, it had reported PAT of Rs 315 crore.

Net interest income during the same period too declined 3.66% to Rs 405 crore from Rs 420.4 crore.

At 14:56 hours IST, the share was trading at Rs 257.20, down 0.43% and its trading volumes doubled to 531,214 shares as compared to its 5-day average of 226,734 shares.

Source: www.moneycontrol.com

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Gaurav Agarwal

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DENIP Consultants Pvt Ltd 

Motilal Oswal Q4 net down 15.4% QoQ at Rs 22 cr

Financial services provider Motilal Oswal Financial Services has reported a net profit of Rs 21.7 crore in the fourth quarter of FY12, degrowth of 16% quarter-on-quarter and 10% year-on-year.

Income from operations in the January-March quarter increased 16% QoQ and 2% YoY to Rs 129 crore.

Segmentwise revenues

Broking and related revenues jumped 25% QoQ to Rs 89.6 crore in Q4. Daily market volumes of the company grew 6% QoQ to Rs 1.5 lakh crore, buoyed by a 34% growth in cash volumes following increased retail participation in January-February.

Company's fund based income increased 19% QoQ and 10% YoY to Rs 22.5 crore in the quarter ended March 31, 2012.

Motilal Oswal has reported asset management fees at Rs 13 crore, down 24% from Q3FY12 and 3% compared to Q4FY11.

Revenues from investment banking business went up sharply by 196% quarter-on-quarter, but down 30% year-on-year to Rs 3.8 crore in fourth quarter.

As of March 31, 2012, the company has net worth of Rs 1,140.9 crore and net cash of Rs 271 crore.

FY12 (YoY)

Total income dropped 22% to Rs 461 crore and profit after tax fell 24% to Rs 104 crore

Total expenditure too declined 16% to Rs 322 crore and earnings per share slipped to Rs 7.17 versus Rs 9.52.

Segmental revenues (YoY)  

          

Equity broking and other related activities revenues declined 24% to Rs 366 crore.

Investment banking revenues dropped 71% to Rs 11.3 crore.

Revenues from its financing and other activities jumped 61% to Rs 82 crore.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Sesa Goa Q4 net down 21% on higher duties, interest cost

Sesa Goa  has reported a decline of 20.50% in ts net profit to Rs 1,162.11 crore for the March quarter mainly on the back of higher export duties and interest cost However, sales of the company were down 23% to Rs 2,791.37 crore.

For FY12, the Vedanta Group company’s net profit was down by 36%  to Rs 2,695.50 crore, Sales too declined 10% to Rs 8,274.53 crore.

Shares of the company were up 2.08% to Rs !86.65 at 9:20 hours.

Meanwhile, the company’s iron ore production for the March quarter was down by 11% at 4.9 million tonnes (MT), while for the full year, it declined by 27% to 13.80 MT.

Volumes were lower primarily due to the Karnataka mining ban and the discontinuation of Odisha operations. According to the statement, issed by the company, its ore productions were down in both the states, Goa and Karnataka, where it has operating mines.

Besides, Sesa Goa's annual sales of the ore during FY12 were also down by 11.60% to 16 MT vis-a-vis 18.1 MT in FY11, it said. As on March 31, 2012, the company had a total debt of Rs 3,734 crore.

The Goa-based iron ore miner said in a separate statement that it has received approvals of BSE, NSE and Competition Commission of India for the proposed merger of Sterlite Industries and other Vedanta group companies into it.

 "The application of the company before the Foreign Investment Promotion Board is pending consideration," Sesa Goa said, adding that it has also sought approval of the relevant courts for the proposed merger.

 The company has also accounted Rs 465.80 crore for its 20% stake in Cairn India, that was acquired last year for Rs 13,075 crore, it said.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Wipro Q4 profit up 7.7 pct, meets forecast

Wipro Ltd , India's No. 3 software services exporter, reported a 7.7% rise in quarterly net profit, roughly in line with analysts expectations, as its cost-conscious customers bumped up demand.

Consolidated net profit rose to Rs 1,481 crore for the fiscal fourth-quarter ended March 31 from Rs 1,375 crore a year earlier for the company, which counts Citigroup Inc and Telenor ASA among its clients.

Analysts, on average, had forecast a net profit of Rs 1,510 crore for Wipro, according to Thomson Reuters I/B/E/S.

Wipro's billionaire Chairman Azim Premji named T.K. Kurien as IT Services CEO, replacing two co-CEOs, last year to reverse the widening gap between the company and its larger rivals Tata Consultancy Services and Infosys .

Sector leader Tata Consultancy on Monday met estimates with a 23% rise in quarterly net profit, while No. 2 software exporter Infosys dampened investor sentiment with a worse-than-expected revenue growth forecast for the current fiscal year.

India's USD 100 billion export-driven outsourcing sector faces a challenging year due to growing competition, an uncertain global economy and rising US rhetoric against shipping of jobs to low-cost locations.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Bajaj Corp Q4 net profit up 26% YoY to Rs 34 cr

Fast moving consumer goods firm Bajaj Corp 's fourth quarter net profit rose 26% year-on-year to Rs 34.05 crore, helped by strong sales growth.

Net sales of the company, which makes hair oils like Bajaj Almond Drop, Brahmi Amla and Kailash Parbat, were up 33.5% from a year ago to Rs 146.59 crore in the Jan-March quarter.

Bajaj Corp's total expenses surged 43% from a year ago to Rs 113.9 crore in the fourth quarter as raw material expenses rose 44% to Rs 62.68 crore. The company's advertising expenses also more than doubled to Rs 13.34 crore in the three-month period.

For the full year (2011-12), Bajaj Corp's net profit rose 43% from a year ago to Rs 120.1 crore. Revenue for the last fiscal year was up 32% to Rs 472.24 crore.

Bajaj Corp had exceptional loss of around Rs 19 crore in the year ago (2010-11).

The company raised around Rs 300 crore via an initial public offering of shares in 2010.

Bajaj Corp shares were up 0.8% at Rs 125.50 on NSE in late trading on Tuesday.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Polaris Q4 profit remains unchanged QoQ at Rs 61.1 cr

Software services provider Polaris Financial Technology 's consolidated net profit remained unchanged quarter-on-quarter at Rs 61.1 crore in the quarter ended March 31, 2012.

Consolidated total income declined over 6% to Rs 518 crore in the fourth quarter of FY12 versus Rs 552 crore in the previous quarter.

Other income shot up 175% to Rs 22 crore from Rs 8 crore during the same period.

At 14:21 hours IST, the stock fell 6.5% to Rs 140.85 amid heavy volumes.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Mahindra Finance Q4 net up 34% on higher loan growth

Non-banking finance company Mahindra Finance on Monday reported a 34% year-on-year jump in the fourth quarter (Jan-March) net profit at Rs 620 crore aided by its 37% (at Rs 20,643 crore) loan growth. Total income shot up 41% at about Rs 2,800 crore.

“The loan growth has primarily driven the net profit,” V Ravi, Chief Financial Officer told Moneycontrol.com

“Moreover, our (repayment) collection efficiency has increased. This helped us to maintain our asset quality. Loan repayments also happened due to better crop season last year. Next year too, we will continue to perform well. We do not see any regulatory concern. We are already compliant with lot many things. Further, regulations are a kind of blessing in disguise for us.”

The company’s other income component doubled from Rs 4 crore to Rs 8 crore on account of bill discounting wherein it earns commission.

However, provisions and write offs ramped up many folds to Rs 14 crore as against Rs 2 crore a year back. Higher provisioning norms as recommended by the Reserve Bank of India during the year, may have caused the spurt.

The NBFC's current capital adequacy ratio stood at 18%. Keeping pace with its expansions, according to Ravi, it would raise tier-I capital in FY13 besides moping up tier II capital through non-convertible debenture issues.

For the full fiscal year, net profit grew at a similar pace by 34% to Rs 620 crore while total income rose 41% to Rs 2,795 crore.

The company has significantly improved its performance as a car and utility vehicle financier. It has also made a significant growth in financing of heavy commercial vehicles and construction equipment, said a release sent by the company.

Source: www.moneycontrol.com

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Gaurav Agarwal

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DENIP Consultants Pvt Ltd

UltraTech's Q4 net up 19%, expect margin pressures ahead

UltraTech Cement, country's largest cement maker by market cap reported a higher than expected growth of 19.3% year-on-year in its net profit at Rs 867 crore for the March. quarter of FY12.

Revenues were in-line with expectations , which increased 19.9% to Rs 5,337 crore from Rs 4,490.1 crore during the same period  mainly on the back of increased prices.

CNBC-TV18 poll expected revenues at Rs 5,290 crore and net profit at Rs 691 crore.

UltraTech will pay Rs 8 a share as a dividend.

For the financial year ended March, net profit was up 42% to  Rs 2,446 crore YoY, while sales were also up 18% to Rs 18,166 crore YoY.

Meanwhile, volume sales were recorded at 11.7 metric tonnes, up 11.3% YoY, which is considered good for the company.  Other income is reported at Rs  2 billion as against analyst estimates of Rs 0.7 billion. The reason for this rise in other income is due to profit booked on treasuries.

The company said its other expenses on per tonne basis also came down sharply, 14% YoY. The management attributed this to better production efficiencies. The company expects the industry to grow at 8% linked to government's focus on infrastructure development.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

TCS Q4 net up 23% YoY at Rs 2,932.4 crore

India's top software services exporter Tata Consultancy Services ' consolidated net profit for January-March quarter rose 23% year-on-year and 1.6% sequentially to Rs 2,932.4 crore.

Its total income from operations for the fourth quarter was Rs 13,259.3 crore, up 30.5% from a year ago and up 0.5% quarter-on-quarter.

Analysts on average had expected TCS to report a net profit of Rs 2,837 crore on revenue of Rs 13,195 crore, according to a CNBC-TV18 poll.

However, EBIT (earnings before interest, taxes) margin for the fourth quarter declined to 27.7% from 29.24% in the Oct-Dec quarter.

The company said pricing has improved 1.3% year-on-year, while volumes rose 4.9% in Jan-March.

"We have carried our strong momentum through the fourth quarter to close out a year of strong growth. We have kept our focus on profitability and consolidated our market leadership," said N Chandrasekaran, CEO and MD.

TCS' full year (2011-12) revenue crossed USD 10 billion and he also expects FY13 will be a normal year as far as growth is concerned.

TCS plans to hire 50,000 employees in fiscal 2013 and said it is going ahead with an average 8% wage hike in India.

The results are in a sharp contrast with its rival Infosys. The Bangalore-based company had earlier this month missed fourth quarter forecasts and guided for a much lower-than-expected 8-10% US dollar revenue growth in the current fiscal year.

Infosys also said it was not giving pay hikes for now, and would relook at the issue if things improved later in the year.

Industry body Nasscom has projected the IT sector will see a growth of 11-14% this fiscal.

Mid-tier HCL Technologies' had surprised the street with a net profit of Rs 603 crore in its third quarter, up 29% from a year ago, while revenue was up 26% to Rs 5,216 crore.

Both HCL Tech and TCS don't give any guidance.

TCS shares on Monday closed down 2.2% at Rs 1,064.25 on NSE. The results were announced after markets closed.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

IDBI Bank Q4 PAT jumps 49% to Rs 771 cr

IDBI Bank has reported a strong growth of 49.4% YoY in its net profit at Rs 771 crore for the quarter ended March 2012 due to decline in provisions.

The bank made provision of Rs 273 crore in the January-March quarter, quite lower as compared to Rs 406 crore in the corresponding quarter of last fiscal.

Net interest income increased 9.4% to Rs 1,211 crore from Rs 1,107 crore during the same period

.

Its asset quality and margins improved sequentially. Net interest margin improved at 2.07% versus 1.86% and capital adequacy ratio advanced at 14.58% versus 13.64% quarter-on-quarter.

Deposit growth in the quarter ended March 2012 stood at 14.7% while advances grew at 15.3%.

Gross non-performing assets (NPAs) stood at Rs 4,551 crore versus Rs 4,639 crore and net NPAs reported at Rs 2,910 crore versus Rs 3,057 crore.

Gross NPAs declined at 2.49% versus 2.94% and net NPAs too fell at 1.61% versus 1.96%.

For the financial year 2011-12, net interest income increased 6.4% YoY at Rs 4,545 crore and profit after tax grew by 23% at Rs 2,032 crore.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd