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HCL Tech net profit rises 7% to Rs 3,489 crore in Q2, firm declares Rs 10 dividend

HCL Tech net profit rises 7% to Rs 3,489 crore in Q2, firm declares Rs 10 dividend

Wednesday, October 12, 2022

IT firm HCL Tech on Wednesday reported a 7% rise in consolidated net profit at Rs 3,489 crore for the quarter ending September 30, 2022. It reported a consolidated net profit of Rs 3,259 crore in the year-ago period. Revenue from operations of the company stood at Rs 24,686 crore, clocking a 19.5 percent growth over Rs 20,655 crore last year. Sequentially, revenue rose 5.2 percent quarter on quarter (QoQ) from Rs 23,464 crore. Profit climbed 6.27 percent compared to Rs 3283 crore in the previous quarter. HCL Tech has delivered yet another solid performance this quarter with revenue growing at 3.8% QoQ and 15.8% YoY in constant currency and EBIT at 18% up 93 bps QoQ. Our services business grew 5.3% QoQ and 18.9% YoY in constant currency, led by strong demand for Cloud, Engineering, and Digital services.HCL Tech said it won 11 large deals – 8 in services and 3 in products. The total contract value of new deal wins was at $ 2,384 million, up 16 percent QoQ, up 6 percent YoY. Read more

Larsen and Toubro gains 2 percent on strong revenue outlook

Larsen and Toubro gains 2 percent on strong revenue outlook

Friday, September 2, 2022

Shares of Larsen & Toubro hit an over six-month high of Rs 1,951 after rising 2 percent on the BSE in Friday’s intra-day trade as the company’s strong order book of nearly Rs 4 trillion suggests good revenue visibility in coming years. The stock was the trading highest level since February 2, 2022. L&T primarily operates in infrastructure, heavy engineering, defense engineering, power, hydrocarbon, and services business segments. The consolidated order book of the group was at a record Rs 3.63 trillion as on June 30, 2022, with international orders having a share of 28 percent In the April-June quarter (Q1FY23), L&T secured orders worth Rs 41,805 crore at the group level, registering a growth of 57 percent over the corresponding quarter of the previous year. The domestic order environment in Q1FY23 was also significantly better compared to Q1FY22.

Asian Paints Q1 result

Asian Paints Q1 result

Tuesday, July 26, 2022

Asian Paints on Tuesday reported a consolidated net profit of ₹1,036 crores, up over 80% as compared to ₹574 crores in the same quarter last year, as the business grew both in volume and value terms. Its revenue surged more than 54% to ₹8,607 crores as against ₹5,585 crore year-on-year (YoY).On a standalone basis, Asian Paint's revenue for the quarter under review increased by 59.6% whereas standalone Net Profit for the quarter rose by 70.7%. Asian Paints' total expenses were at Rs 7,287.84 crore, up 48.91 percent in Q1/FY 2022-23, as against Rs 4,893.87 crore in the corresponding period."The domestic decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year, which had suffered from the first nationwide lockdown. The industrial business and the home improvement business also doubled its revenue on last year's low base," Amit Syngle, Managing Director & CEO of the paint company said. Read more

Ultratech cement gains 6 percent on strong revenue growth

Ultratech cement gains 6 percent on strong revenue growth

Friday, July 22, 2022

UltraTech Cement shares rose as much as 6 percent on Friday after the company’s quarterly earnings beat estimates on all parameters during the June quarter. It reported a net profit of Rs 1,582 crore for the quarter that ended June 2022 7.45 percent lower than Rs 1,700 crore in the same quarter of last year. Its revenue from operations was up 28.18 percent to Rs 15,163.98 crore during the quarter under review as against Rs 11,829.84 crore in the corresponding period of the last fiscal. Profit before interest, depreciation, and tax was at ₹3,204 crores compared to ₹3,512 crores.UltraTech Cement’s total expenses were at Rs 12,980.06 crore, up 36.51 percent in Q1 FY23 as against Rs 9,508.26 crore. Read more

Alembic Pharma share price falls 5% after quarter results

Alembic Pharma share price falls 5% after quarter results

Thursday, November 11, 2021

Alembic Pharmaceuticals' share price fell over 5 percent intraday to Rs 757 after the company reported a weak set of numbers for the quarter ended September 2021. The company's consolidated profit declined 49 percent year on year (YoY) at Rs 169 crore in the September quarter (Q2FY22), due to lower revenue. The pharmaceutical company had posted a profit of Rs 333 crore in the year-ago quarter. The revenue was down 11.3% at Rs 1,292.32 crore versus Rs 1,457.10 crore, YoY. The US revenue declined 40 percent to Rs 348 crore on a YoY basis. However, India's business grew 23 percent to Rs 509 crore over the previous year's quarter. Earnings before interest, tax, depreciation, and amortization (EBITDA) were down 42 percent at Rs 257.2 crore versus Rs 443.5 crore and the margin was down at 19.9% versus 30.4%, YoY. The management believes the current US sales figures ($47 million per quarter) are the new base, and these are expected to improve hereafter, led by new launches. Read more

L&T Technology surges 9% on strong earnings projections

L&T Technology surges 9% on strong earnings projections

Friday, September 3, 2021

Shares of L&T Technology Services (LTTS) hit a new high of Rs 4,412.80, surging 9 percent on the BSE in the intra-day trade today(3rd Sept. 2021), after the management guided for $1.5 billion revenue and 18 percent earnings before interest tax (Ebit) margins by FY25 on the strong demand outlook. In the past three months, the stock has rallied 62 percent, as compared to an 11 percent rise in the S&P BSE Sensex. The revenue guidance includes acquisitions while Ebit margin guidance takes into consideration elevated travel costs, continued investment in tech and manpower, and acquisitions. The management has indicated that digitization is driving accelerated spends in engineering, research, and development (ER&D) and should benefit it due to strong capabilities, multi-vertical presence, and solid wallet share. LTTS is expected to deliver strong revenue growth over the coming years.

Bharti Airtel concludes spectrum trading agreement with Jio

Bharti Airtel concludes spectrum trading agreement with Jio

Friday, August 13, 2021

Shares of Bharti Airtel hit a new record high of Rs 638.60, on the BSE in the intra-day trade today(13th August 2021), after the company announced the closure of its agreement with Reliance Jio Infocomm to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in three circles to Jio. Bharti Airtel in a statement said the company has received Rs 1,004.8 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 469.3 crore relating to the spectrum, the company said. In the past month, the stock of Bharti Airtel has outperformed the market by surging 20 percent, as compared to a 4.8 percent rise in the S&P BSE Sensex. Read more

Bharti Airtel headed for a multi-year breakout

Bharti Airtel headed for a multi-year breakout

Thursday, August 5, 2021

Bharti Airtel shares have traded in a broad range of Rs 520 to Rs 200 from mid-2009 till February 2020. The year 2020 saw the counter break past this consolidation range. However, the price action could not lift the volumes in the favour of the bulls. The selling pressure continued to dominate the stock price above Rs 600 mark. Now, it will be Airtel's third attempt to conquer the selling pressure in the range of Rs 630 to Rs 600 levels. And if it breaks past Rs 630, then the stock price could double and enter the 4-digit club in the medium to long-term; possibly in the next eight to 15 months, as per the monthly layout on the chart, experts say. Read more

Maruti Suzuki Q1 Results net profit of Rs 441 crore

Maruti Suzuki Q1 Results net profit of Rs 441 crore

Wednesday, July 28, 2021

The country’s largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a a standalone net profit of Rs 440.8 crore for April-June quarter of FY22 (Q1FY22), hit by increased tax expenses and lower sale volumes. The company had posted a net loss of Rs 249.4 crore in the year-ago period. Revenue for the quarter jumped more than four times to Rs 17,770.7 crore against Rs 4,106.5 crore in Q1FY21. On a quarterly basis, the income tumbled 26 per cent from Rs 24,023.7 crore.T he profit declined 62.19 per cent from Rs 1,166.1-crore profit reported in the March quarter of FY21 as auto sales remained disrupted due to localised lockdown during April and May.The numbers came below market expectations. A CNBC-TV18 poll of analysts had estimated the profit and revenue numbers at Rs 675.7 crore and Rs 17,929 crore, respectively, for the quarter. Read more

Infosys hits record high; zooms 103% in one year

Infosys hits record high; zooms 103% in one year

Thursday, July 15, 2021

On the BSE in the intra-day trade today(15th July 2021) Shares of Infosys hit a fresh record high of Rs 1,597.25, up 1.3 percent. The country’s second-largest IT services player yesterday raised its revenue growth guidance for the financial year 2021-22 (FY22) buoyed by a robust deal pipeline. The stock surpassed its previous high of Rs 1,590.85 touched on June 30, 2021. In the past year, Infosys has outperformed the market by zooming 103 percent, as compared to a 47 percent rally in the S&P BSE Sensex. Infosys now expects its revenue to grow by 14-16 percent in FY22, up from the earlier estimate of 12-14 percent. This guidance is ahead of the one-percentage-point increase analysts were estimating. The company, however, maintained margin guidance at 22-24 percent in FY22. Analysts expect Infosys to deliver another year of an ongoing guidance raise as the current one does not fully factor in strong technology demand and execution of its record high deal wins. Read more

Vodafone Idea slips 15% after posting loss in Q4

Vodafone Idea slips 15% after posting loss in Q4

Thursday, July 1, 2021

Shares of Vodafone Idea tanked 15 percent to Rs 8.46 on the BSE in Thursday's intra-day trade after the company reported a big loss of Rs 7,023 crore during January-March quarter as against Rs 4,532 crore in the previous quarter (Q3FY21). The revenues declined sharply by nearly 12% on a quarter-on-quarter basis to Rs 9,608 crore, much below analyst expectations of Rs 10,040.50 crore. Ebitda (earnings before interest, tax, depreciation, and amortization), however, increased 2.8% sequentially to Rs 4,408 crore. Ebitda margins came in at 45.9%, a sharp increase of 660 basis points quarter-on-quarter.The company’s average revenue per user (Arpu) during the quarter declined to Rs 107 compared with Rs 121 in the preceding quarter. Average data consumption, however, rose to 13,068 MB against 12,288 MB in the previous quarter. Read more

Maruti Suzuki Q4 profit down 10% to Rs 1,166 crore

Maruti Suzuki Q4 profit down 10% to Rs 1,166 crore

Tuesday, April 27, 2021

India’s largest passenger car manufacturer Maruti Suzuki India on Tuesday reported a near 10 percent year-on-year fall in net profit to Rs 1,166 crore for the quarter ended March on account of lower sales volume, increase in commodity prices, adverse foreign exchange movement, and lower non-operating income. During the previous year, the company reported a profit of Rs 1,291.7 crore. Revenue from operations in Q4 FY21 stood at Rs 24,023.7 crore, up 32 percent from Rs 18,198.7 crore in the year-ago period backed by strong double-digit growth in sales. In the December quarter of the current fiscal, PAT stood at Rs 1,941.4 crore. On a consolidated basis, the net profit slipped 6.1 percent to Rs 1,241.1 crore. Analysts had expected Maruti to report a 38 percent year-on-year jump in net profit to Rs 1,785 crore for the quarter on revenues of Rs 23,704 crore. Read more

Nazara Technologies shares rally 9% as Company reported 84% revenue growth in FY21

Nazara Technologies shares rally 9% as Company reported 84% revenue growth in FY21

Friday, April 23, 2021

The gaming company Nazara Technologies shares gained 9% after the company said that its consolidated revenue in the fiscal year 2021 rose sharply by 84 percent to Rs 454.2 crore led by gamified learning and eSports segments. The company had reported a revenue of Rs 247.5 crore in FY20. The company expressed confidence that it will continue to drive profitable growth. Gamified learning and e-sports segments have not only demonstrated strong growth momentum in FY21 but have also laid the foundation for predictable growth on account of proven user engagement and retention KPIs in gamified learning and multi-year media licensing and game publisher agreements in case of e-sports," it added. The gamified learning segment registered 820 percent growth in revenue, growing from Rs 19.1 crore in FY20 to Rs 175.8 crore in FY21. Similarly, e-sports segment revenue more than doubled to Rs 170.1 crore in FY21, from Rs 84.2 crore in the previous fiscal. Read more

Titan Q2 results: Profit drops 38 percent to Rs 199 cr in Sept quarter

Titan Q2 results: Profit drops 38 percent to Rs 199 cr in Sept quarter

Wednesday, October 28, 2020

Titan Co on Wednesday reported a net profit of Rs 199 crore for the quarter ended September, down 37.81 per cent from Rs 320 crore a year ago on account of higher expenses. The Company had reported a loss of Rs 270 crore in June Quarter.The numbers are in line with market expectations as a CNBC-TV18 poll had estimated the number to the tune of Rs 200 crore. Its total income for the quarter was Rs 4,389 crore, down 1.72 per cent as compared with the income of Rs 4,466 crore for the corresponding quarter in the previous year. While the company had reported revenue of Rs 1,862 crore for June Quarter. The company said it has incurred a loss of Rs 484 crore during the quarter as a result of a change in the cash flow hedging due to an increase in sales compared to the original sales forecast and advantage of the moratorium offered on the gold on loan.THE standalone EBITDA of the company came at Rs 294 crore against Rs 513 crore YoY. Read more

HUL Q2 result : Net profit rises 9%to Rs 2,009 crore,announces interim dividend of Rs 14

HUL Q2 result : Net profit rises 9%to Rs 2,009 crore,announces interim dividend of Rs 14

Tuesday, October 20, 2020

Hindustan Unilever (HUL) share price fell over 2 per cent to Rs 2,133 apiece in intraday deals on BSE on Tuesday after the Company reported an 8.7 per cent year-on-year (YoY) rise in its net profit at Rs 2,009 crore for the second quarter of the current fiscal year (Q2FY21). The company had logged a profit of Rs 1,848 crore in the year-ago period. Total sales (revenue) of the company increased 16 per cent during the quarter to Rs 11,442 crore, against Rs 9,852 crore in the year-ago period. The board also declared an interim dividend of Rs 14 per share. The record date for the purpose of determining the entitlement for payment of the interim dividend is fixed as October 29, 2020. HUL’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter came at Rs 2,869 crore, which registered a 17 per cent on-year growth. Read more

Govt short of finances as it tries to fix economy

Govt short of finances as it tries to fix economy

Thursday, September 10, 2020

The latest numbers on the government’s fiscal deficit for the April-July 2020 period have exceeded the annual Budget target by 3 percent. In April-June 2020, the fiscal deficit had already risen to about 83 percent of the target for the full year. The figures on government finances are based on monthly reports released by the Controller General of Accounts (CGA). But what gets highlighted and discussed are the cumulative numbers for the latest period for which the data is released. A study of the monthly trajectory of the government’s revenues and expenditure, therefore, may present a slightly different picture, providing different takeaways for policymakers and observers of the Indian economy. Read more

Supreme Court gives telcos 10 yrs to pay AGR dues

Supreme Court gives telcos 10 yrs to pay AGR dues

Tuesday, September 1, 2020

Today (1st September 2020) the Supreme Court allowed the companies to clear their adjusted gross revenue (AGR) dues in ten years and begin by making an upfront payment of 10 percent of the total dues. Telecom companies have to give an undertaking for paying the AGR dues as per the SC order. The payment timeline begins from April 1, 2021, and the first installment needs to be paid before March 31, 2021. In a stern message to the telecom companies, SC said that any default in payment would invite interest, penalty, and contempt of court. According to the DoT’s calculations, Bharti Airtel owes the exchequer Rs 43,780 crore, of which the company has paid Rs 18,004 crore. Vodafone Idea has paid Rs 7,854 crore of its Rs 50,399 crore dues. Tata Teleservices has paid about Rs 4,197 crore and the balance is about Rs 12,601 crore. Read more

Mahindra & Mahindra Q1 profit falls 97% to Rs 68 Crore

Mahindra & Mahindra Q1 profit falls 97% to Rs 68 Crore

Friday, August 7, 2020

Auto major Mahindra & Mahindra on Friday reported a 97 per cent decline in consolidated profit at Rs 67.79 crore for June quarter 2020, adversely impacted by the COVID-19 pandemic. The company had reported a profit of Rs 2,259.74 crore ina year ago.The analysts had projected a net profit of Rs 200 crore for the company. The company's revenue also fell 56 per cent YoY to Rs 5,589.43 crore from Rs 12,805.47 crore reported in the year-ago quarter.M&M said profit before the exceptional gain of Rs 29 crore declined 96 per cent YoY to Rs 39 crore for the quarter. It sold 27,565 units of vehicles and 64,140 units of tractors during the quarter, down 78 per cent and 22 per cent YoY. Total exports were at 3,109 units, down 72 per cent.M&M's operating margin for the quarter stood at 10.3 per cent as compared to 14 per cent in Q1FY20. The company also approved the appointment of Nisaba Godrej and Muthiah Murugappan as additional directors on the board of directors. Read more

BHEL shares tanks around 9.5 per cent on Rs 1,532 cr loss in Q4

BHEL shares tanks around 9.5 per cent on Rs 1,532 cr loss in Q4

Monday, June 15, 2020

Shares of Bharat Heavy Electricals Ltd. traded 9.5 per cent down in Monday's trade to Rs 28.45 apiece after the company during the weekend reported a consolidated net loss of Rs 1,532.18 crore for the March quarter, mainly due to lower revenues and deferred tax. The company posted a consolidated net profit of Rs 680.77 crore in the quarter ended in March 2019. BHEL's total income for the quarter review stood at Rs 5,193.51 crore, down from Rs 10,489.11 crore in the same period last year. For the full fiscal 2019-20, the company suffered a consolidated net loss of Rs 1,468.35 crore. It posted a consolidated net profit of Rs 1,002.42 crore in 2018-19. The stock has jumped 40 per cent in the last month. The total market cap of the Bharat Heavy Electricals Ltd. stood at Rs 10341.73 crore. Total volumes of 4,49,73,335 shares have been traded today.

M&M Q4 results: Reports Rs 3,255 crore loss

M&M Q4 results: Reports Rs 3,255 crore loss

Friday, June 12, 2020

Mahindra & Mahindra on Friday posted a consolidated net loss of Rs 3,255 crore for the quarter ended March 31. It had reported a net profit of Rs 969 crore in the corresponding quarter last year. The company's revenue also declined 35 per cent on a year-on-year (YoY) basis to Rs 9,004.72 crore from Rs 13,807.88 crore reported in the corresponding quarter last year. The Board has recommended a dividend of Rs 2.35 per share of face value Rs 5. The sales were affected due to the lower industry volumes in both automotive and tractor segments due to lockdown due to the COVID-19 situation. Mahindra & Mahindra reported a standalone loss of ₹2,510 crores for Q4FY20 on account of booking impairment provision for certain long-term investment to the tune of ₹2,780 crores during the period. M&M’s standalone net profit was at ₹841 crores in the year-ago period. Read more

L&T Infotech share price jumps 10% on good Q4 profit

L&T Infotech share price jumps 10% on good Q4 profit

Wednesday, May 20, 2020

Shares of Larsen & Toubro (L&T) Infotech gained 10 per cent to Rs 1,834 on the BSE on Wednesday after the firm reported a 12.9 per cent rise in net profit to Rs 427.5 crore for the quarter ended March 2020 compared to Rs 378.5 crore in the corresponding period. Revenue in Q4 stood at Rs 3,011.9 crore, up 21.2 per cent YoY against Rs 2,486 crore in the corresponding period last year. L&T Infotech reported a marginal increase of 0.3 per cent in its net profit at Rs 1,520.5 crore compared to Rs 1,515.5 crore in the previous fiscal. The company registered a revenue of Rs 10,878.6 crore, up 15.2 per cent YoY. The company's board also recommended a final dividend of Rs 15.50 per equity share of the face value of Re 1 each. The company won two large deals in Q4 with net-new TCV in excess of $100 million, culminating in a record eight large deal wins in FY20. Read more

Maruti Suzuki Q4 profit falls 28% to Rs 1,292 crore

Maruti Suzuki Q4 profit falls 28% to Rs 1,292 crore

Wednesday, May 13, 2020

The country's largest car manufacturer, Maruti Suzuki reported its March quarter profit of Rs 1,291.7 crore, down by 28.1 per cent YoY due to lower sales during the lockdown, while the company had reported a profit of Rs 1,795.6 crore for March quarter previous year. Revenue dipped 15.2 per cent to Rs 18,207.7 crore. The company had posted revenue of Rs 21,473.1 crore. The sharp fall in tax cost limited the profit decline."Profit was lower on account of lower sales volume, higher sales promotion expenses, partially offset by lower operating expenses, cost reduction efforts and reduction in the corporate tax rate," said the company in its BSE filing. Maruti sold a total of 385,025 vehicles,the company's domestic volumes in Q4 fell by 16 percent YoY and exports fell 17 per cent compared to same period last year, especially after nationwide lockdown in last 10 days of March and amid slowdown in overall sector.

AGR dues: Public sector companies with telecom licence also asked to pay

AGR dues: Public sector companies with telecom licence also asked to pay

Sunday, February 16, 2020

In a blow to Bharti Airtel and Vodafone Idea, the Supreme Court on 14th Feb rejected their plea seeking a staggered option for paying dues linked to adjusted gross revenue (AGR). Vodafone Idea announced on 15th Feb that it would pay its AGR dues to the government in the next few days in line with the Supreme Court order. Now the public sector companies that hold telecom licence primarily for their own network also received a letter by DOT, issued following Friday’s Supreme Court order, to pay their dues immediately. Oil India has to pay Rs 48,000 crore as AGR dues.GAIL has been asked to pay Rs 1.72 trillion, nearly four times its net worth of ~44,092 crore, and nearly three times its revenue. Power Grid has been asked to shell out nearly ~22,170 crore. This is almost equivalent to its revenue and over three times its net profit. Thus the outgo from these companies could not only wipe out their surplus but create distress in other sectors also.

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