Pidilite Ind Q1 PAT up at Rs 128 cr

Pidilite Industries has announced its first quarter results. The company's Q1 net profit was up at Rs 128 crore versus Rs 105 crore, year-on-year, YoY.

Its net sales were up at Rs 998 crore versus Rs 845 crore, YoY.

Source: www.moneycontrol.com

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Gaurav Agarwal 

Head Dealer 

DENIP Consultants Pvt Ltd 

Polaris Financial Q1 cons PAT up at Rs 61.2 cr

Polaris Financial Technology  has announced its first quarter results. The company's Q1 consolidated net profit was up at Rs 61.2 crore versus Rs 44.6 crore, year-on-year, YoY.

Its consolidated income from operations was up at Rs 569.3 crore versus Rs 450.2 crore, YoY.

Source: www.moneycontrol.com


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Gaurav Agarwal 
Head Dealer 
DENIP Consultants Pvt Ltd 

Ashok Leyland Q1 net down 22% on higher expenses, ad spends

India's second largest commercial vehicle maker Ashok Leyland  missed street estimates on Tuesday with a net profit of Rs 67 crore, down 22% year-on-year due to rising costs and higher spends on advertising and promotion.

Its quarterly revenue rose 20% to Rs 3,007 crore, helped by strong sales growth, especially of its small commercial vehicle Dost, which is made in partnership with Japan's Nissan.

Analysts on an average had expected Ashok Leyland to report net profit of Rs 84 crore on net sales at Rs 3,036 crore, according to a CNBC-TV18 poll.

While LCV sales have been strong, most CV makers have seen slow growth in the heavy truck segment, as fleet operators have postponed purchases amid slowing economy.

The Hinduja Group company had sold 27,487 units in April-June quarter, up 43% from a year ago. While domestic sales rose 3.5% to 17,335 units, exports were up 14% to 2,904 units.

"Even while the total industry volume in India dipped by 12%, we were able to increase our market share by 3.8%. Dost did very well, achieving 21% market share in the first 9 months of sales," said Vinod Dasari, MD.

The company's profit was, however, impacted by higher expenses. Employee costs were up 7% to Rs 268 crore, depreciation rose 5% to Rs 89 crore and other expenses jumped 50% to Rs 310 crore due to higher sales overheads.

More over, the company's aggressive advertising and marketing push also hurt bottomline.

"Our profits have taken a hit largely because of the robust brand building and marketing initiatives that we kicked off during the quarter including the signing on of Mahendra Singh Dhoni as our brand ambassador. In addition, we were also hit by spiraling power costs," Dasari said.

The market outlook remains tepid but the company is cautiously optimistic of the coming months.

"We will focus on introducing a slew of new products that the market is waiting for, keep building our network and continue our brand building efforts to maintain and improve our market share," he said.

Ashok Leyland shares ended down 2.1% at Rs 23.30 on NSE on Tuesday.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Lupin Q1 PAT up 33.5% to Rs 280 cr, stock up 2.5%

Drug producer Lupin  reported strong numbers on all parameters in the quarter ended June 2012. Profit after tax grew by 33.5% year-on-year 80.2% quarter-on-quarter to Rs 280.4 crore in the first quarter of financial year 2012-13.

Company benefitted from currency depreciation, hence that added 7% to the topline and resulted in a 44% growth; without currency depreciation, revenues grew by 37%.

Revenues went up by 44% YoY and 17% QoQ to Rs 2,253 crore and earnings before interest, tax, depreciation and amortization (EBITDA) increased 55.6% YoY and 23% QoQ to Rs 457.6 crore during the same quarter.

Operating profit margin improved 150 basis points year-on-year and 90 basis points quarter-on-quarter to 20.3% in the April-June quarter of 2012.

Bottomline in the quarter was not comparable with previous quarter as the company's income included forex and litigation costs in March quarter of 2012.

The stock touched a 52-week high of Rs 584.55 today. At 15:21 hours IST, the share was trading at Rs 584.55, up 2.50% amid hefty volumes.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd 

eClerx Q1 net profit up 62% at Rs 49.3 cr, stock up 12%

eClerx Services  ' consolidated net profit grew by 62% to Rs 49.3 crore in the quarter ended June 2012 from Rs 30.4 crore in the previous quarter, which surged 40% year-on-year. Operating profit for the quarter went up by 50% YoY to Rs 55.2 crore.

Consolidated net sales rose by 20.45% quarter-on-quarter and 54% year-on-year to Rs 153.7 crore during the same quarter.

According to press release, the total headcount as of June 30, 2012 stands at 5,545, a growth of 38% YoY.

At 15:04 hours IST, the share was trading at Rs 709.90, up 12.37% amid large volumes.

Its trading volumes shot up by 15,679% to 1,51,858 equity shares as compared to its 5-day average of 962 shares.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd 

LIC Housing Q1 disappoints, net down 11% on higher interests cost

LIC Housing Finance's (LICHF) first quarter (April-June) net profit moderated more than 11% year-on-year to Rs 228 due to higher interest cost, which also dented its net interest income marginally by Rs 11 crore to Rs 350. The numbers were below the market estimates. Analysts on an average had expected net profit at Rs 282 crore and net interest income of Rs 406 crore.

“Business environment has been very challenging," V. K. Sharma, director & chief executive LIC Housing Finance was quoted in a company release.

"Margins have been under strain owing to the high interest rate regime and high borrowing costs that has prevailed during the quarter and a lower developer loan portfolio. In Q1, developer loan disbursals have started to improve, which is likely to help increase the margins going forward," he said.

The lender's outstanding loan portfolio stood at around Rs 65,650 crore compared with Rs 52,880 crore a year back, an expansion of 24% y-o-y. Individual loans constituted majority of the portfolio to the tune of 95%. The housing finance industry on an average, is expecting around 18-20% loan growth in 2012-13.

During the quarter, LICHF sanctioned Rs 4,900 crore loans to individuals, a growth of 33% from a year back while it sanctioned around Rs 410 crore loans to builders as against Rs 5 crore in the corresponding quarter of the previous year. The lender had virtually stopped extending credit to developers 14 months back due to an alleged involvement of one of its senior executives in a loan scam.

India's second largest mortgage lender disbursed nearly 4,500 crore housing loans to individuals while developers got a disbursal of Rs 320 crore.

The lender's gross non-performing ratio improved from 0.84% to 0.71% y-o-y basis. However, net NPA ratio remains almost flat at 0.38% suggesting that up-gradations may be less than fresh slippages.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd 

Shriram Transport Q1 cons PAT down 3% at Rs 342 cr

Shriram Transport has announced its first quarter results. The company's Q1 consolidated net profit was down 3% at Rs 342 crore versus Rs 353 crore, year-on-year, YoY.

Its consolidated income from operations was up 5% at Rs 1,598 crore versus Rs 1,523.4 crore, YoY.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd 

Canara Bank Q1 PAT up 7% at Rs 775 cr

State-owned Canara Bank  's first quarter (April-June) net profit rose at a slower pace by 7% year-on-year to Rs 775 crore.

The net interest income (NII) or the difference between interests earned and paid out inched up 3% from a year back at Rs 1,844 crore. An increase in bad assets primarily dented the profit margin due to higher loan provisions.

The bank's gross non-performing asset (NPA) ratio deteriorated to 1.98% at Rs 4,497 compared with 1.73% in the Jan-March quarter. Similarly, its net NPA ratio increased from 1.46% to 1.66% at Rs 3,756 crore during the three-month period.

However, provisions (other than tax) & contingencies rose to Rs 462 crore as against Rs 419 crore. This could be due to reversal of investment provisions or some other write back of provisioning.

The bank's capital adequacy ratio is at Rs 13.22% versus 13.76%, in the previous quarter.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd 

Wipro forecasts flat Q2 growth after in-line Apr-June

Software services exporter Wipro met street expectations on Tuesday, with a consolidated net profit of Rs 1,580.2 crore in April-June, up 18% year-on-year. Its total income rose 24% to Rs 10,619.6 crore in the quarter.

However, the company has guided for a flattish growth in the second quarter. It expects revenue from IT services in USD 1.52-1.55 billion range in July-September, compared with USD 1.515 billion revenue it reported in the first quarter. The quarterly guidance indicates 0.3-2.3% sequential growth.

Analysts on average had expected Wipro to report a net profit of Rs 1,578 crore on revenue of Rs 10,510 crore, according to a CNBC-TV18 poll.

Here are more highlights from Wipro's earnings announcement on Tuesday:

- Q1 constant currency IT services revenue was USD 1.54 billion, in its earlier guidance range of USD 1.52-1.55 billion.

- Q1 IT services revenue in dollar terms was impacted USD 25 million due to cross-currency impact.

- Q1 IT services revenue in rupee terms was Rs 8,314 crore, up 30% year-on-year.

- IT services accounted for 78% of total revenue and 93% of operating income in Q1.

- Wipro added 37 new customers in the quarter.

- Staff strength in IT services segment rose by 2,632 people to 1,38,552 employees.

- Revenue from consumer care and lighting business rose 30% year-on-year to Rs 980 crore, while EBIT (earnings before interest and taxes) rose 27% to Rs 114 crore.

- Revenue from IT products declined 5% to Rs 953 crore, while EBIT was Rs 21.1 crore.

Management Comments:

"In today's complex business environment, global corporations are increasingly investing in transformational technology initiatives to improve competitiveness. We see this shift as an opportunity for us to lead this change and help customers differentiate in this fast evolving market," said Chairman Azim Premji.

"We have seen high levels of volatility in currencies globally. We have improved profitability while continuing to invest for growth," said Suresh Senapaty, CFO.

Stock Talk:

Wipro shares fell after investors were disappointed by the flat guidance. Its shares were 3.6% at Rs 343.55 on NSE in morning trade. The stock is down 19% so far this financial year, compared with the CNX-IT index, which has slipped near 14% in the same period.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd 

Torrent Pharma Q1 net profit at Rs 103 cr

Torrent Pharmaceuticals  today said its net profit rose marginally to Rs 103.04 crore for the first quarter ended June 30, 2012, over the same period of previous fiscal.

The company had posted net profit of Rs 102.59 crore during the same period of previous fiscal, Torrent Pharmaceuticals said in a filing to the BSE. Total income of the company rose to Rs 766.91 crore for the June quarter, as compared to Rs 642.19 crore in the same period of previous fiscal.

On a standalone basis, the company posted a net profit of Rs 147.52 crore for the first quarter, as against Rs 99.44 crore in the same period of last financial year.

Shares of Torrent Pharmaceuticals today closed at Rs 633.90 on the BSE, down 1.15 per cent from their previous close.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd