India’s auto major, Maruti Suzuki India Limited has said that its sales have risen 11.7 per cent during the month of September 2013.
The company said that it sold 104,964 units during the month of September 2013 compared to 93,988 units sold during the month of September 2012. The company said that it exported 14,565 units during the month. MSI has said that it reported 14.5 per cent in sales of Passenger Cars during the month to 78975 units compared to 68957 units in September 2012.
Higher costs of land and property development dragged real estate developer DLF Ltd's net profit down by 38 per cent to Rs 1.81 billion in the April-June quarter of this year.
In the April-June quarter of 2012, the real estate giant had reported a net profit of Rs 2.93 billion a year earlier.
However, the company's sales and other receipts jumped 5.3 per cent year-on-year, from Rs 21.98 billion to Rs 23.14 billion.
A group of analysts surveyed by Thomson Reuters had projected a net profit of Rs 1.23 billion on revenue of Rs 20.63 billion for the developer's quarter under review.
IT major Tech Mahindra posted 27% rise in consolidated net profit for first quarter. The company reported net profit of Rs 686 crore for quarter ending June 2013 for the combined entity of Tech Mahindra and Mahindra Satyam. Both companies completed the merger in July 2013.
The company reported revenue jump of 21.7 per cent at Rs 4103 crore compared to Rs 3372 crore. The stock closed at Rs 1266 on NSE after touching 52-week high of Rs 1292 during the afternoon session. Many technical experts have recommended the stock as a strong buy.
Hindalco Industries Ltd, India’s second-largest aluminum producer, on Tuesday reported a fall of 24.68 per cent in net profit to Rs 482 crore for its fourth fiscal quarter ended March 31, 2013.
The company’s net sales slipped 8.5 per cent to Rs 6,994 crore in the January to March quarter, from Rs 7,647 crore in the corresponding period of the previous fiscal year.
Gross revenues from aluminium and copper dropped 4.10 per cent and 10.63 per cent to Rs 2,396 crore and Rs 4,607 crore, respectively.
Finance costs jumped a whopping 97 per cent to Rs 158 crore.
Two-wheeler manufacturer TVS Motor suffered a net profit loss in the fourth quarter despite a year-on-year increase of 6.78 per cent in revenue from Rs 1,637 crore to Rs 1,748 crore.
TVS announced that it suffered a net profit loss of Rs 32.72 crore in the three months ended March 31, from a net profit of Rs 57.23 crore in the corresponding period of the previous year.
Maruti Suzuki, India's leading carmaker, on Friday posted better-than-expected results for the January-March quarter, thanks to strong sales of Ertiga, DZire and Swift.
The car giant said fourth quarter net profit jumped 80 per cent year-on-year at Rs 1,147.5 crore.
Net sales during the three months ended March 31 this year jumped 9.4 per cent year-on-year to settle at Rs 12,566.6 crore, as against Rs 11,486.4 crore in the corresponding period of the previous financial year.
L&T Finance Holdings’ net profit jumped 21.8 per cent year-on-year to Rs 171 crore in the fourth quarter of last fiscal, thanks to loan growth and rise in net interest income.
Loans grew 30 per cent year-on-year to Rs 33,300 crore. The net interest income jumped 27 per cent to Rs 478 crore, while other income increased to Rs 26 crore during the quarter under review.
However, the company’s net interest margins slipped 15 basis points (bps), from 5.81 per cent to 5.64 per cent.
Jindal Steel & Power Ltd (JSPL) suffered a steep year-on-year fall in consolidated net profit in the quarter ended March 31, mainly because of lower sales realisations and higher interest burden.
The private sector company said that its consolidated net profit slipped by around 35 per cent to Rs 760.27 crore for the January-March quarter, from Rs 1,167 crore in the corresponding quarter of the previous year.
MRF Ltd has posted an impressive 40 per cent year-on-year jump in net profit for the quarter ended March 31, thanks to softening of the raw material.
The Tyre giant said that its net profit jumped to around Rs 210.6 crore in the three months through the end of March this year, from Rs 150 crore in the corresponding period of the previous year. Quarter-on-quarter, net profit jumped nearly 17 per cent.
Total income was recorded at Rs 2,906.30 crore, against Rs 2,992.80 crore in the year ago period.
Software services provider Wipro Ltd on Friday reported a bigger-than-expected increase in its profit for the three months ended March 31, 2013.
The third-largest Indian software maker announced that its consolidated net profit jumped 16.7 per cent year-on-year, from Rs 14.81 billion in the January-March quarter of 2012 to Rs 17.29 billion in the same quarter of 2013.
A group of analysts surveyed by Thomas Reuters had projected consolidated net profit of Rs 17 billion for the company.