Public sector major Bank of Baroda has surprised the markets with 17 percent increase in quarterly net profit. The bank registered net profit of Rs1,362 crore during the first quarter compared to Rs 1,167 crore during the same period last year.
Bank of Baroda stock was up by more than a percent. The net interest income grew by 15 percent at Rs 3,328 crore. The non-interest income of the bank declined by 17 percent to Rs 1,024 crore during the first quarter.
Software services exporter Infosys on Monday reported better-than-expected rise in margins and profit for the quarter ended March 31, 2014.
The second largest software services exporter of India announced that its net profit of Rs 2,992 crore for the January to March quarter of FY2014, up 25 per cent from the corresponding quarter of the previous year. Quarter-on-quarter growth in net profit stood at 4 per cent.
Analysts had projected a net profit of Rs 2,835 crore for the company's fourth fiscal quarter.
Sun Pharma, which recently proposed a $4-billion deal to merge Ranbaxy Labs with itself, will also make an open offer to acquire around 28 per cent stake in Zenotech Laboratories Ltd.
In a regulatory filing, Sun Pharma said it could buy nearly 96 lakh shares of Hyderabad-based Zenotech, amounting to 28.1 per cent stake, for Rs 18.42 crore or Rs 19 per share. Ranbaxy owns 46.79 per cent stake in Zenotech.
The pharma giant added that the merger of Ranbaxy into it would result in Sun Pharma's indirectly acquiring Ranbaxy's 46.79 per cent voting rights over Zenotech.
NASDAQ-listed IT services provider iGate on Thursday reported a decline of more than 9 per cent in net profit for quarter ended March 31, 2014.
The New Jersey-based provider of integrated technology and operation solutions announced that its net profit slipped 9.19 per cent year-on-year to $31.6 million in the January-March quarter of 2014, from $34.8 million in the corresponding quarter of the previous year.
In the previous quarter, October-December quarter of 2013, the company's net profit stood at $33.1 million.
Despite TCS' weak revenue growth outlook, IDFC maintained it's 'outperform' rating on the company's stock with a twelve-month target price of Rs 2,700 a share.
IDFC said in a note to investors that it believed that TCS was on track to enjoy industry leading dollar revenue growth in the fiscal year 2015 as well.
It said that improving discretionary spending on IT services in the United States and in Europe would drive healthy growth for the Indian IT companies. In the note, it added that it estimates suggested increase in TCS' valuations in case the global economy gathers momentum.
The combination of higher fuel costs and forex losses pushed budget carrier SpiceJet Ltd into the red in the fiscal third quarter ended December 31, 2013.
Controlled by billionaire Kalanithi Maran-promoted Sun Group, SpiceJet, on Friday reported a net loss of Rs 1.73 billion (US$27.74M) for its October-December quarter. In the corresponding quarter of the previous year, the carrier had pocketed a net profit of Rs 1.02 billion.
Shares in Tata Motors Ltd gained more than 5 per cent in morning session trade on Tuesday after the auto giant reported better-than-expected third-quarter results.
Beating analysts' estimates, Tata Motors on Monday reported a rise of 195.14 per cent in its consolidated net profit to Rs 4,805 crore in the October-December quarter of 2013.
Revenue jumped 38.6 per cent year-on-year to Rs 63,877 crore in the three-month period under review. The profit was boosted by strong demand for the company's luxury Jaguar Land Rover (JLR) vehicles.
Aurobindo Pharma jumped nearly 6 per cent in morning trade on Friday after the drug-maker announced an over four-fold jump in its quarterly consolidated net profit.
The company announced that its consolidated net profit jumped more than 400 per cent to Rs 417 crore in the three months ended December 31, 2013. In the corresponding period of the previous year, the company had pocketed a consolidated net profit of Rs 92 crore.
Shares of Tech Mahindra gained nearly 3 per cent in early morning trade on Wednesday after the company reported a sharp rise in its quarterly net profit.
After market hours on Tuesday, February 4, Tech Mahindra announced that its consolidated profit after tax climbed 40.6 per cent to Rs 1010 crore in the October-December quarter of 2013 over the previous quarter; while revenue jumped 2.7 per cent to Rs 4899 crore.
Telecommunication services provider Bharti Airtel on Tuesday reported its first quarterly net profit in four years, thanks to lower competition and a rise in voice call rates.
The New Delhi-based company announced that its consolidated net profit jumped to Rs 610 crore in the three months ended December 31, 2013; from Rs 284 crore in the corresponding three-month period of the previous year.
The company's net income before exceptional items jumped to Rs 832 crore. Revenue jumped to Rs 21,939 crore, up 13.3 per cent from Rs 19,362 crore reported in the year-ago period.