Tata Consultancy Services (TCS) recently reported its second-quarter results which revealed a slightly lower-than-estimated 14.7 percent increase in the company's net profit to Rs 24.39 billion.
While the quarterly net profit figures posted by TCS - which is a subsidiary of the salt-to-steel conglomerate, Tata Group - marked an increase over the last year same quarter figures of Rs 21.26 billion, they fell marginally short of Rs 24.77 billion quarterly net profit which analysts polled nu Reuters had projected for the company during the quarter.
In a Tuesday statement, the Delhi-based bigwig two-wheeler maker Hero MotoCorp said that its quarterly net profit had touched a new high --- with its recorded Rs. 603.62 crore net profit during the July-September quarter not only marking the highest-ever quarterly net profit figures for the company, but also underscoring a 19.93 percent increase year-over-year.
With the company's last year same quarter net profit figures having been Rs 506 crore, the higher-than-estimated quarterly results this time round were largely a result of record sales of its two-wheelers.
Aventis Pharma surged around 8% during morning trade due to a strong influence from the announcement that it has agreed to acquire Universal Medicare's business of marketing and distribution of branded nutraceutical formulations in India.
The company has notified the move during the initial trading hours. Consequently, it has observed good buying support and the stock spurted by 7.92% to touch an early high of Rs 2,199.90 on the BSE. Simultaneously, the NSE has reflected a similar scenario where the stock zoomed up by 7.44 % to an early high of Rs 2,195.
The India's personal computer market witnessed a rise of 2.5% with nearly 2.5 million units in the second quarter of 2011.
Gartner Principal Research Analyst Vishal Tripathi stated, “This growth was primarily driven by the mobile PC market which grew 17% year on year in the second quarter of 2011”.
Also, the economic factors like rising interest rates and high inflation costs lead to the low consumer demand.
iGate Corp.'s net profit declined by 64% because of its acquisition costs for the second quarter of 2011.
The profits declined by 64% to $ 4 million from $11.2 million profits of the second quarter previous year. Interest expenses affected the Net Income by $13 million.
The high raw material costs have been cited as major reason behind the 29% drop in the net profit of Steel Authority of India Ltd. (SAIL) making it to Rs. 838 crore in the first quarter of the financial year even with around 20% bound in sales. However, Last year's fiscal profit was Rs. 1, 177 in the corresponding quarter.
Software services firm Hexaware Technologies Ltd., reported a rise of 11.5% quarter-on-quarter (QoQ), in its June-quarter results. They have reported a net profit of Rs 60 crore in the same quarter, whereas, it was 53.8 crore in the previous quarter. The net sales have been notified as at Rs 334.1 crore against Rs 318.5 crore (QoQ).
India-based information technology services firm, HCL Technologies posted a 51.7% rise in its year-on-year net profit for the fourth quarter of fiscal year 2011.
State-run BHEL has announced an increase of 22 % for a year-on-year basis in its first quarter of the fiscal year. In the April-June quarter, its net profit raised to Rs 815 crore over Rs 667.7 crore in same period during the previous fiscal year.
In addition, the net sales skyrocketed by 10% to find Rs 7,190 crore against Rs 6,479.7 crore for a year-on-year basis.
Giving a tough completion to its rivals, the leading software giant- Wipro, merged a net profit for the quarter recorded a growth of 1.23%. The company also accounted that during the year, the industry accomplishment rate it would also grow to 16-18%.