GAIL's Q1 net up 15%, stock gains

GAIL’s net profit for the June quarter rose 15%, year-on-year to 1,134 crore. Sales also grew 25% to Rs 11,088 crore, YoY. Shares of the company rose 2.89% to Rs 354.65 post the result announcement.

The company said it contributed Rs 700 crore to oil companies as against Rs 682 crore, YoY.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Muthoot Finance Q1 net profit up 30% at Rs 246 cr

Gold loan financing company Muthoot Finance’s net profit shot up by 29.5% year-on-year to Rs 246 crore in the quarter ended June 2012.

Total income from operations rose by 41% to Rs 1,287 crore from Rs 912.6 crore during the same period.

At 14:38 hours IST, the share rose 1.5% to Rs 126.20 amid heavy volumes.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Corporation Bank Q1 net profit rises 5% at Rs 370.3 cr

Public sector lender Corporation Bank’s net profit rose by 5.41% year-on-year to Rs 370.3 crore in the quarter ended June 2012.

Net interest income went up by 14.34% to Rs 808.4 crore from Rs 707 crore during the same period.

Gross non-performing assets (NPAs) increased 45 basis points quarter-on-quarter to 1.71% and net NPAs moved up by 33 basis points to 1.2% during the same period.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

SpiceJet returns to profits in Q1, stock up 16%

After five straight quarterly losses, low fare carrier SpiceJet has posted a Rs 56 crore profit for the June quarter. The stellar performance of the company can well be attributed to higher passenger load factors and atleast 24% growth in revenues per passenger. Had the Rupee not appreciated against the dollar, the carrier would have posted better results, said SpiceJet in a press statement.

Meanwhile, sales of the company rose 51% to Rs 1,407 year-on-year as the company improved its markets share in terms of passengers carried. The share price of the company was quick to respond to the good performance of the company and rose almost 16% to Rs 29.35.

Neil Mills, CEO of Spicejet says: “While we expand our footprint in domestic as well as international sectors, the excessive taxation on aviation fuel in India and the weakening of Indian Rupee against the US dollar are matters of serious concern. The sharp increase in airport charges and other pass- through levies in various forms are increasing the cost of air travel to our passengers, without bringing any additional revenue to the airlines." He further said that the need of the hour is that the government should intervene proactively and launch initiatives urgently to improve the health of Indian civil aviation.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Syndicate Bank Q1 net up 28% at Rs 440 cr; stock up 5%

State-owned lender Syndicate Bank’s net profit grew by 28.32% year-on-year to Rs 440 crore in the quarter ended June 2012 due to improved asset quality and lower provision.

Net interest income increased 18.83% to Rs 1,319 crore from Rs 1,110 crore year-on-year.

Gross non-performing assets (NPAs) declined by 15 basis points quarter-on-quarter to 2.38% and net NPAs went down by 3 basis points to 0.93% during the same period.

The bank made less provisions during the quarter at around Rs 512.8 crore as compared to Rs 542.2 crore in the previous quarter.

Net interest margin stood at 3.19% in the quarter. Capital adequacy ratio fell by 52 basis points to 11.72% QoQ.

At 13:44 hours IST, the share was trading at Rs 96.75, up 4.99% amid heavy volumes.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

IOB Q1 net profit up 14% at Rs 233 cr

Public sector lender Indian Overseas Bank’s (IOB) net profit rose by 13.6% year-on-year to Rs 233.4 crore in the quarter ended June 2012. Net interest income during the same period went up by 11.8% to Rs 1,328 crore.

But, capital adequacy ratio declined 70 basis points quarter-on-quarter to 12.6% in the first quarter of FY13. Net interest margin too fell 11 basis points to 2.59% QoQ.

The bank made higher provisions for the quarter around Rs 520.4 crore as compared to Rs 387.6 crore QoQ.

Gross non-performing assets (NPAs) rose by 23 basis points QoQ to 2.97% and net NPAs increased 13 basis points to 1.48% during the same period.

Gross NPAs stood at Rs 4,410 crore in the quarter ended June 2012 as against Rs 3,920 crore in the previous quarter and net NPAs at Rs 2,152 crore as against Rs 1,907.4 crore QoQ.

At 13:39 hours IST, the share gained 2.14% at Rs 71.50 amid large volumes.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Allahabad Bank Q1 net rises 23% at Rs 514 cr; stock up 5%

Public sector lender Allahabad Bank’s net profit was up by 23% year-on-year to Rs 514 crore in the April-June quarter of 2012 due to less provisions.

Net interest income rose by 11% to Rs 1,306 crore from Rs 1,176 crore during the same period.

The bank made less provisions during the quarter around Rs 313 crore as compared to Rs 454 crore in the previous quarter.

Capital adequacy ratio too improved 11 basis points to 12.94% versus 12.83% QoQ.

But, gross non-performing assets (NPAs) increased 13 basis points QoQ to 1.96% and net NPAs rose by 11 basis points to 1.09%.

At 12:24 hours IST, the stock surged more than 5% to Rs 135.65 amid heavy volumes.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Oriental Bank Q1 net up 10% at Rs 391 cr; stock up 8%

State-owned lender Oriental Bank of Commerce’s net profit rose by 10% year-on-year to Rs 391 crore in the quarter ended June 2012. Net interest income too grew by more than 10% to Rs 1,126 crore from Rs 1,018 crore during the same period.

The bank made less provisions in the quarter around Rs 334 crore as compared to Rs 534 crore in the previous quarter.

Gross non-performing assets (NPAs) declined by 20 basis points quarter-on-quarter to 2.97% and net NPAs too fell by 16 basis points to 2.05% versus 2.21% during the same period.

But, capital adequacy ratio slipped by 40 basis points to 12.29% in the first quarter of FY13 as against 12.69% in the previous quarter.

At 12:21 hours IST, the share was trading at Rs 228.90, up 7.41% amid volumes.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Bank of Baroda Q1 meets forecast, net up 10% to Rs 1139 cr

Country's second largest public sector lender (by market cap)Bank of Baroda  's net profit grew tad higher than expected 10.3% year-on-year to Rs 1,139 crore in the quarter ended June 2012.

Net interest income rose by 21.8% to Rs 2,798 crore from Rs 2,297 crore during the same period. Analysts on an average had expected net profit at Rs 1,071 crore and net interest income of Rs 2,723 crore.

Gross non-performing assets (NPAs) increased 31 basis points to 1.84% in the first quarter as against 1.53% in the previous quarter. Net NPAs too went up by 11 basis points to 0.65% versus 0.54% QoQ.

Gross NPAs moved up to Rs 5,319 crore from Rs 4465 crore during the same period.

Net interest margin of India's business declined by 22 basis points QoQ to 3.22% and even global business fell by 23 basis points to 2.73% while international net interest margin improved marginally to 1.55% versus 1.53% during the same period.

Capital adequacy ratio too slipped by 93 basis points quarter-on-quarter to 13.74% versus 14.67%.

Provisions made by the bank in the quarter rose to Rs 894 crore from Rs 843.7 crore QoQ.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Maruti Q1 net profit dips 23%

The country's largest car maker Maruti Suzuki India  today reported a 22.84% fall in its net profit for the quarter ended June 30, at Rs 423.77 crore. The company had posted a net profit of Rs 549.23 crore in the corresponding period last year, Maruti Suzuki India (MSI) said in a statement.

The net sales during the first quarter, however, increased by 27.53% to Rs 10,529.24 crore from Rs 8,256.58 crore in the year-ago period, it added.

During the April-June period, MSI sold a total of 2,95,896 vehicles compared to 2,81,526 units in the same period last year, up 5.10%.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal 

Head Dealer 

DENIP Consultants Pvt Ltd