GTL posts net loss of Rs 204 cr in Q1

E-business solutions provider GTL  has posted a consolidated net loss of Rs 204 crore in the first quarter of financial year 2012-13 as against profit of Rs 13 crore in a year ago period.

Consolidated net sales fell by 24.4% to Rs 620 crore from Rs 820 crore during the same period.

Other income too declined sharply to Rs 4 crore in the June quarter from Rs 56.7 crore in the corresponding quarter of last fiscal.

Source: www.moneycontrol.com

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DENIP Consultants Pvt Ltd

Blue Star net jumps 110%

Air conditioner firm Blue Star  today said its net profit surged by 110% to Rs 20.54 crore in the June quarter.

The company had a net profit of Rs 9.79 crore in the corresponding period last fiscal, Blue Star said in a statement.

During the first quarter, the company posted an income of Rs 723.18 crore compared to Rs 698.52 crore in the year-ago period.

The carry forward order book as on June 30, 2012 reduced to Rs 1,848 crore as against Rs 2,019 crores as at June 30, 2011, due to slower new order bookings as well as a concerted effort to improve the quality of new orders won, the company said.

Source: www.moneycontrol.com

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Gaurav Agarwal

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DENIP Consultants Pvt Ltd

IDBI Q1 net jumps 28% to Rs 427.3 cr

IDBI Bank  's net profit jumped by 27.55% year-on-year to Rs 427.3 crore in the first quarter of financial year 2012-13.

Net interest income rose by 4.92% to Rs 1,270.6 crore from Rs 1,211 crore during the same period.

Gross non-performing assets (NPAs) went up by 75 basis points quarter-on-quarter to 3.24% and net NPAs increased 46 basis points to 2.07% in the June quarter.

Source: www.moneycontrol.com

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Gaurav Agarwal

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DENIP Consultants Pvt Ltd

Petronet LNG Q1 beats forecast, net up 10.6% at Rs 271 cr

State-owned Petronet LNG  's net profit rose higher than expected 10.6% quarter-on-quarter to Rs 271 crore in the first quarter of FY12. Analysts on an average had expected around Rs 242 crore.

Net sales went up by 9.7% to Rs 6,993 crore from Rs 6,375.4 crore during the same period. Analysts had a forecast of Rs 6,690 crore.

The company has reported forex loss of Rs 69.7 crore in the first quarter of FY13 as against gain of Rs 57.5 crore in the previous quarter.

Source: www.moneycontrol.com

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Gaurav Agarwal

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DENIP Consultants Pvt Ltd

Cipla Q1 net jumps 58% to Rs 401 cr

Pharma major Cipla  's first quarter net profit surged much better-than-expected 58% year-on-year to Rs 401 crore, helped by strong growth in sales and higher realisations.

The company's quarterly net sales were also above expectations, growing 24% to Rs 1,917 crore.

Analysts on average had expected Cipla to report a net profit of Rs 306 crore on revenue of Rs 1,864 crore, according to CNBC-TV18 estimates.

In April-June, the company's domestic sales rose 30% to Rs 970 crore, while exports were up 18% to Rs 979 crore. Exports accounted for 50.2% of total sales last quarter.

Cipla's raw material costs as a percentage to total sales declined to 37.6% in Q1 from 42.5% a year ago, which helped margins.

"Material cost has decreased by 5% mainly on account of changes in product mix, namely lower proportion of anti-retrovirals and higher contribution of anti-depressant segment, coupled with increased realisations. As a result, operating margins have also increased by about 5%," Cipla said.

Its staff costs rose 25% during the quarter to Rs 213 crore due to annual increments and increase in manpower.

Cipla shares closed up 1.6% at Rs 338.60 on NSE on Tuesday.

Source: www.moneycontrol.com

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Gaurav Agarwal

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DENIP Consultants Pvt Ltd

Karur Vysya Bank Q1 net profit up 25% at Rs 146 cr

Private sector lender Karur Vysya Bank  's net profit rose by 24.8% year-on-year to Rs 146 crore in the first quarter of financial year 2012-13, even after increase in non-performing assets (NPAs).

Net interest income went up by 23.9% to Rs 254 crore during the same period.

Gross NPAs increased 20 basis points quarter-on-quarter to 1.53% and net NPAs rose by 5 basis points to 0.38% in the quarter ended June 2012.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Titan Q1 net up lower-than-expected 9% at Rs 156 cr

Watches to jewellery and eyewear maker Titan Industries  ' first quarter net profit rose a lower-than-expected 9% year-on-year at Rs 156 crore due to weak consumer demand, sending its shares down 3% in afternoon trade.

Net sales were up 9% at Rs 2,205.7 crore, in April-June, which was an "extremely challenging" quarter according to the Bangalore-based company.

Analysts on average had expected Titan to report a net profit of Rs 166 crore, on revenue of Rs 2,470 crore according to a CNBC-TV18 poll.

"Gold in rupee terms touched its peak at Rs 3,067 per gram of 24 karat during the quarter, thus affecting the growth of jewellery...The reduction in wedding dates during the quarter has also affected both watches and jewelry," Titan said on Tuesday.

The company's revenue from watch business was up 14% from a year ago to Rs 361 crore, while jewellery income rose 8% to Rs 1,776 crore in the first quarter.

Titan's other businesses, which include eyewear, precision engineering and accessories grew 16% to Rs 90 crore in the quarter.

"The first quarter has been disappointing by way of sales growth due to several factors leading to a weak consumer sentiment. Consumer response was good only to discount offers, thereby impacting margins, specially in watches and eyewear," said Bhaskar Bhat, MD.

Looking ahead, Bhat expects high inflation, a weak rupee and poor monsoon are likely to have "adverse impact" on titan's targeted growth.

However, he said, the company will maintain its investments in brand building, retail network expansion and new product introductions to boost consumer confidence.

Titan opened 20 stores in the first quarter and had 847 outlets as of June 30.

At :14:00 hrs, Titan shares were down 3.1% at Rs 225.85 on NSE.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Hexaware Q2 net profit up 48% YoY at Rs 89 cr

Software services provider Hexaware Technologies  ' second quarter consolidated net profit rose better-than-expected 48% year-on-year (0.8% sequentially) to Rs 89 crore, helped by continued demand for outsourcing services even as the global macro-economic conditions remain tough.

Its consolidated revenue in April-June rose 50% from a year ago (14.1% quarter-on-quarter) to Rs 500.1 crore.

In dollar terms, Hexaware's revenue was at USD 91.2 million, up near 4% sequentially, it said on Tuesday.

Analysts on average had expected Hexaware to report a net profit of Rs 85.3 crore on revenue of Rs 499 crore  (USD 91 million in dollar terms) in Q2, according to a CNBC-TV18 poll.

The company's Q2 EBITDA margin rose 764 basis points year-on-year and 53 bps compared with Jan-March quarter to 22.9%.

Hexaware now expects its third quarter revenue will be in the USD 92.5-94 million range, a quarter-on-quarter growth of 1.4-3%.

"The strong performance of 7.2% compounded quarterly growth rate in revenue and 22% in EBITDA over the last 9 quarters substantiates the sustained growth at Hexaware. Over the same period we have also had a healthy client addition and have added 12 new clients in the last quarter. Our number of active clients has increased to 210, of which 50+ belong to Fortune/Global 500 clients," said Chairman Atul Nishar.

Of the 12 new clients added, 3 were in the Banking and Financial Services (BFS) domain and 1 in travel and transportation vertical. Six of the 12 customers are in Americas and 3 each in Europe and Asia Pacific.

In April-June, Americas contributed to 63.3% of Hexaware's total revenue, 29.2% from Europe and 7.5% from Asia Pacific.

The average bill rate per hour in the second quarter was stable at USD 73.50 for onsite services and USD 22.85 for offshore locations, Hexaware said.

The company's global headcount increased to 8,733 at the end of June, up 1,314 from a year ago and 109 sequentially and attrition declined to 9.6%, it said.

Hexaware said it has forward contracts worth USD 219 million at an average rate of Rs 50.4 and hedges worth Euro 13 million at an average exchange rate of Rs 69.6 maturing over next eight quarters.

IT companies have reported mixed results for the April-June quarter. For instance, India's second largest IT company  Infosys missed street expectations , discontinued issuing quarterly guidance and cut full year US dollar guidance citing challenges in the global economic environment, but India's top software services exporter  TCS reported strong growth .

Hexaware shares were down 2.7% at 113.85 on NSE in morning trade.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Havells India Q1 net profit up 24% at Rs 80 cr

Fast moving electrical goods company Havells India’s net profit shot up by 23.5% year-on-year to Rs 80 crore in the quarter ended June 2012.

Net sales rose by 25.6% to Rs 1,032.8 crore from Rs 822.37 crore year-on-year.

Numbers were above expectations. Analysts on an average had expected net profit of Rs 75 crore and net sales of Rs 945 crore.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Bharat Electronics Q1 net profit down 84% at Rs 19.3 cr

State-owned Bharat Electronics  ' net profit fell by 84% year-on-year to Rs 19.3 crore in the quarter ended June 2012.

Net sales too declined by 15.4% to Rs 779.2 crore from Rs 920.7 crore during the same period.

However, other income increased to Rs 163 crore from Rs 154 crore year-on-year.

Bharat Electronics has announced a final dividend of Rs 10.80/share.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd