Showing posts with label lags forecast. Show all posts
Showing posts with label lags forecast. Show all posts

30 October 2009

ICICI Q2 net up 2.6% beats forecast; Bharti Airtel Q2 net up 13%, lags forecast

ICICI Q2 net up 2.6%; beats forecast

MUMBAI: ICICI Bank, India's No.2 lender, posted a small but unexpected rise in quarterly profit, helped by trading gains and lower provisions,

which offset a rise in bad debts.

ICICI said July-September net profit rose to 10.40 billion rupees ($221 million) from 10.14 billion rupees a year earlier. A Reuters poll of analysts had forecast net profit of 9.5 billion rupees.

ICICI has slowed lending as it tackles increasing bad loans in its mainstay retail market. Top lender State Bank of India is expected to say its July-September profit rose nearly 9 percent, helped by bond trading income, when it reports on Saturday, the poll found.

Shares of ICICI, valued at more than $21.3 billion, rose by a quarter in July-September, beating a 20 percent rise in the sector and an 18 percent gain on the benchmark index


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Bharti Airtel Q2 net up 13%, lags forecast

NEW DELHI: Bharti Airtel Ltd, India's top mobile operator, on Friday reported a 13 percent rise in quarterly profit that lagged analysts'

estimates as an increasing number of low-paying users and price competition weighed.

New Delhi-based Bharti, in which Southeast Asia's top phone firm SingTel owns more than 30 percent, said net profit rose to 23.21 billion rupees ($495 million) under U.S. accounting rules in its fiscal second-quarter ended September from 20.46 billion reported a year earlier. Revenue rose 9 percent to 98.46 billion rupees from 90.20 billion.

A Reuters poll of 11 brokerages had forecast a net profit of 24.41 billion rupees on revenue of 103.55 billion for Bharti, which added 8.1 million mobile users in the quarter to take its customer base to 110.5 million.

India's mobile industry, the world's fastest-growing major market, is becoming increasingly competitive, with existing players cutting rates to attract subscribers before four new firms start operation this year.

Bharti shares have lost nearly a quarter in October, while second-ranked Reliance Communications is down by almost a third in the face of the price war. Bharti shares gained 4.4 percent in the September quarter, underperforming the broader market.



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GSK Pharma Q3 profit rises 7 pc to Rs 141 cr

Mundra Port Q2 profit jumps 55 pc to Rs 174 cr

Alok Ind Q2 FY'10 operating PAT up 26.18 pc at Rs 57.11 cr
30 Oct 2009, 1353 hrs IST

Integrated textile company Alok Industries on Friday said its operating profit after tax rose 26.18 per cent at Rs 57.11 crore in Q2 FY'10 against Rs 45.26 crore in the year-ago period.

Grasim Industries Q2 net profit at Rs 881.84 cr

Oil India Sep qtr net up 0.79 pc to Rs 722.56 cr



Src: EconomicTimes.INdiatimes.com, Moneycontrol.com


16 July 2008

TCS Q1 net up 5 per cent, lags forecast

TCS Q1 net up 5 per cent, lags forecast

Country's top software exporter, Tata Consultancy Services (TCS), narrowly missed forecasts with a 5 per cent rise in quarterly profit, as a global credit turmoil crimped outsourcing deals from its big financial clients.

Tata Consultancy, which provides services such as consulting, system integration and back-office outsourcing, said on Wednesday net profit rose to Rs 1,244 crore ($289 million) in its first quarter ended June from Rs 1,186 crore reported a year ago under US accounting rules.

A poll had forecast a net profit of Rs 1,251 crore for Tata Consultancy, whose clients include General Electric, Lloyds TSB Group, French insurer AXA SA and Qantas Airways. Ahead of the result, shares in Tata Consultancy, which the market values at about $17 billion, ended nearly 3 per cent down at Rs 727.35 in BSE that fell 0.79 per cent.

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Other Qtr Results:

Container Corporation Of India net profit rises 7.88% in the June 2008 quarterSales rise 5.71% to Rs 822.84 crore

Mindtree reports net loss of Rs 12.96 crore in the June 2008 quarter

ABC Bearings net profit rises 33.01% in the June 2008 quarter

Chambal Fertilisers & Chemicals net profit declines 61.43% in the June 2008 quarter

State Bank of Mysore net profit declines 80.34% in the June 2008 quarter

Mysore Paper Mills net profit rises 9284.62% in the June 2008 quarter

SKF India net profit declines 10.04% in the June 2008 quarter

Timken India net profit rises 44.16% in the June 2008 quarter

Housing Development Finance Corporation net profit rises 25.56% in the June 2008 quarter

Power Finance Corporation net profit declines 4.00% in the June 2008 quarter

Tata Teleservices (Maharashtra) reports net loss of Rs 34.72 crore in the June 2008 quarter

S.Kumars Nationwide net profit declines 37.04% in the June 2008 quarter

Excel Crop Care net profit rises 105.14% in the June 2008 quarter

Bafna Spinning Mills & Exports net profit rises 16.67% in the June 2008 quarter

Sunflag Iron & Steel Company net profit rises 94.34% in the June 2008 quarter

Modern India net profit rises 23.01% in the June 2008 quarter

Tata Metaliks net profit rises 31.71% in the June 2008 quarter

Country Club India net profit rises 46.21% in the June 2008 quarter

Source: ET, Capitalmarket