Results Archives - Page 2 of 3

Reliance’s refining business drags down profits

July 24, 2009August 20, 2014Editor

Reliance Industries chose to focus on margins rather than improve volumes during the June 2009 quarter. Its performance was affected by a mix of factors. Export volumes dipped during a period when the rupee depreciated, which would have normally added extra rupees to RIL’s bottom line. The Jamnagar refinery voluntarily gave up its export oriented tax status as it wanted to focus on the domestic market. Gas production from its KG basin started, contributing to sales and profits, but also upped its depreciation outgo.

Other income boosts United Breweries’ net profit

July 24, 2009August 20, 2014Editor

United Breweries, a company that sells Kingfisher beer, did well on the sales front but operating margins dipped in the June 2009 quarter. The company’s sales during the quarter grew by 17.2% to Rs 556 crore. The company, which sold Rs 1,700 crore worth of the liquid in 2008-09, said that it sold 12% more beer during the quarter over the corresponding previous period, twice the industry average. Strong beer sales grew by 25%.

Bharti Airtel’s performance dented by rising costs and capex

July 23, 2009August 20, 2014Editor

Bharti Airtel’s results tell a different story, based on whether you compare it with the previous quarter or June 2008. Its performance seems to have improved compared to March but has deteriorated when compared to a year ago. It does appear that Bharti’s operating performance in 2009-10 will be lower, compared to the previous year.

Wipro stays true to forecast, hikes September guidance

July 22, 2009August 20, 2014Editor

Wipro’s performance in the June 2009 quarter was good, with revenues falling between the range it had given in April 2009. The stock markets, however, seemed to have bargained for more, as the stock is down about 2%. Measured in constant currency terms, IT companies have reported modest performances in the June 2009 quarter, but when you translate them from currencies like pounds, euros and Australian dollars to USD and then to rupees, the effect can be quite significant.

Ultratech’s Q1 net profit up 58%, volumes up 24%

July 21, 2009August 20, 2014Editor

Ultratech Cement’s sales and profits during the June 2009 quarter grew handsomely. The company is a subsidiary of Grasim Industries, a Aditya Birla Group company. Its net sales grew by 31% to Rs 1953 crore, and net profit rose by 58% to Rs 418 crore. Several factors contributed to its good performance: volume growth (partly due to new capacity), firm prices, excise duty reduction, lower coal prices and power costs.

HDFC Bank battles slowdown; fee income and cost control aid profit growth

July 14, 2009August 20, 2014Editor

HDFC Bank’s first quarter results at first seem to suggest all is well; with its net profit growing by 30.5% to Rs 606.1 crore. A closer look reveals that the bank’s core business is suffering from the after effects of the economic slowdown.

Infosys June 2009 results a worry, currency fluctuations cushion earnings

July 10, 2009August 20, 2014Editor

Infosys Technologies kicked off the earnings season on a positive note. Its results reflect a tough operating environment but exceeded its guidance and market expectations. The software major’s revenues declined by 2.9% over the preceding quarter to Rs 5,472 crore in the June 2009 quarter. Its net profit would have declined too but a 130% increase in other income kept net profit constant at Rs 1,915 crore. In dollar terms, its revenues declined by 0.1% sequentially and by 1.9% in constant currency terms.

Tata Communications’ 2008-09 results hit by higher interest outgo

May 27, 2009August 20, 2014Editor

Tata Communications’ performance during 2008-09 was a mixed bag. Its sales increased smartly, by 20.1%, driven by an expansion in the volume of traffic it handled during the year. Its profit declined by 2.4% due to a sharp jump in interest costs.

ITC’s sales down 1% in the March quarter, cigarettes still the boss

May 23, 2009August 20, 2014Editor

ITC would prefer to be known as a diversified company, with businesses ranging from hotels to biscuits to soaps in its portfolio. But its 2008-09 results show once again, how critical the cigarettes’ division is to revenues and more so for profit growth.

TCS’ Q4 2009 results hit by poor business environment, outlook for the year remains weak

April 21, 2009August 20, 2014Editor

TCS, which reported its results yesterday, had some good things to say. It has got more clients, revenues in its financial services segment grew and a weaker rupee propped up revenue growth. But the negatives were equally strong: billing rates have dropped, demand in key segments like manufacturing, telecom and hi-tech is slowing and outlook for the year appears gloomy.