Software services provider HCL Technologies Ltd on Tuesday reported a bigger-than-expected increase in profit for the quarter ended March 31, 2013.
HCL announced that its quarterly net profit jumped to Rs 10.4 billion in the three months through the end of March, 73 per cent up from Rs 6 billion in the year-ago period.
A group of 16 analysts surveyed by Thomson Reuters had projected a net profit of Rs 9.35 billion for the company’s fiscal third-quarter. The growth was also much better than rival firm Infosys’ 3 per cent quarterly-profit growth.
After a plunge in shares, Infosys holds on to a profit in the fourth quarter of 2012. This has been an earning season for the company.
Viju George and Amit Sharma of JP Morgan said, "We expect Infosys to meet its guidance in constant-currency terms, but 0.3 percentage point cross-currency revenue growth headwind might just make it difficult to meet guidance in reported terms".
Kingfisher shares slipped more than 4 per cent in morning trade on Tuesday after the grounded carrier posted a loss of Rs 755 crore for the quarter through December 31.
At quarter past ten in the morning, stock in Kingfisher Airlines Ltd was trading at Rs 11.99 a share, down 4.4 per cent from the previous day's close. The stock touched intra-day low and high of Rs 11.70 and Rs 13.45 a share, respectively.
Liquor baron Vijay Mallya-promoted grounded carrier Kingfisher Airlines Ltd on Monday reported a huge loss of Rs 7.55 billion for the three months through December 31.
The loss was not unexpected for the carrier as well as investors as Kingfisher has not been operating flights because of financial problems and as the civil aviation regulators has stripped it off its flying licence.
The struggling carrier spent Rs 4.01 billion on finance costs during the three months under review and Rs 1.82 billion on leasing aircrafts, though none of the aircrafts flew during the period.
Mukesh Ambani-led Reliance Industries Limited (RIL) on Friday reported better-than-expected results for the three months through December 2012, driven by higher gross refining margins (GRMs).
RIL reported GRM at $9.6 a barrel for the December, considerably up from $6.8 a barrel in the corresponding period of the previous year. Analysts had projects GRM of $8.5 per barrel. GRM can be described as the difference between the price of crude oil and total value of petroleum products generated by a refinery.
Stock in Tata Consultancy Services (TCS) gained around 5 per cent to Rs 1,400 on National Stock Exchange (NSE) in opening trades on Tuesday after the software giant reported better-than-expected results for the third quarter of the current fiscal.
TCS announced that its consolidated net profit jumped 1 per cent quarter-on-quarter to Rs 3,552 crore in the three months through December 2012. On year-on-year basis, consolidated net profit jumped by a whopping 23 per cent.
Stock in Infosys gained more than 12 per cent to around Rs 2600 a share in the early Friday trading, after the Indian Information Technology giant surprised the investors by reporting better than expected third-quarter results.
Infosys announced an increase of 12 per cent in revenue for the October-December quarter year-on-year. The IT firm reported revenue of 104.24 billion rupees, against 93 billion in the corresponding period of the previous year.
Online retailer Amazon. com Inc's Kindle Fire sold like hot cakes during the holiday season but shipments of the affordable tablet PC slipped sharply during the recent months, figures compiled by market research firm IDC revealed.
According to IDC, $199-Kindle Fire suffered a drop of around 4 per cent in its market share in the January to March period, from 16.8 per cent in the previous three months.
The Kindle Fire shipments slipped from a whopping 4.8 million in the final quarter of 2011 to just around 750,000 in the first quarter of this year.
Apple Inc. is all set to post another record quarterly profit on Tuesday, to competitor’s dismay.
The Cupertino, Calif.-based gadgets maker owns merely 8 per cent of the worldwide phone market, but it pockets around 80 per cent of the entire industry's operating profits. Its trading figures for the recent quarter will set the bar even higher for rival manufacturers.
Big-box electronics chain Best Buy has been selling several Apple products off and on for the more than a decade, but analysts believe that the Cupertino firm has become a major threat to the chain.
InterContinental Hotels Group (IHG), the owner of Holiday Inn brand that has been named as the official hotel provider for the Olympic Games, has reported strong increase in full-year profit for 2011.
The UK-based IHG, which operates as many as 4,500 hotels around the globe, generated net profit of $460 million in 2011, 57 per cent up from $293 million generated in 2010.
Revenues at the world's largest hotel operator jumped 9 per cent to settle at $1.77 billion.