Satyam Computer Services (rebranded as Mahindra Satyam) reported a 3% growth in operating income to Rs 1,279 crore, over the preceding quarter. All comparisons are for its consolidated results and on a sequential basis.
December 2010 results
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Mundra Port & SEZ’s profit up 40%, stock down by 0.6%
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Mundra Port & Special Economic Zone had a good quarter in December 2010. The company owns and manages a port and related infrastructure in Mundra, Gujarat, including a multi-product special economic zone. In end-December, it commissioned a 60 million tonne coal receiving terminal, which will contribute to revenues in forthcoming quarters. Some of its significant subsidiaries are Adani Logistics Ltd and Adani Petronet (Dahej) Port Pvt Ltd, whose results do not reflect here, as it has reported standalone results for the quarter.
Filed under: Companies, Top News, December 2010 results, Mundra Port & SEZ, Ports
Eicher Motors CV sales on a roll
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Eicher Motors Ltd, maker of commercial vehicles and two-wheelers, reported a much better operating performance in the December quarter.
The company’s sales rose by 41% to Rs 1,235 crore, over the same period last year, on the back of higher vehicle sales and price hikes. The company had hiked prices of commercial vehicles in the September quarter by about 2-4% to compensate for higher raw material prices. On a sequential basis, sales rose by 13%.
Filed under: Automobiles, Companies, Top News, Commercial Vehicles, December 2010 results, Eicher Motors
Balaji Telefilms cuts costs; turns loss to profit
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Media and entertainment company, Balaji Telefilms, turned the corner in the December 2010 quarter, compared to the September quarter or sequential basis. It earned a net profit of Rs 1.2 crore, compared to a loss of Rs 6.4 crore.
This is despite sales rising by a relatively low 3%. Compared to the December 2009 quarter, its sales growth is flat, but net profit has fallen by 33%.
Filed under: Companies, Media, Quick News, Balaji Telefilms, December 2010 results
ICICI Bank’s loan provisions halve, net profit up by 31%
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ICICI Bank’s December quarter results were better than expectations, and it appeared to be benefiting from a phase, when rising interest rates result in better yields on loans, as the cost of funds rises with a lag. It has also managed to improve its asset quality during the quarter, which is a positive sign.
Filed under: Banks, Companies, Top News, December 2010 results, ICICI Bank
Union Bank of India’s net profit up 91%, over September quarter
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Union Bank of India’s net profit growth continued to be affected by higher provisions for non-performing assets in the December 2010 quarter, rising by just 8.5% to about Rs 580 crore, compared to the same period a year ago. But the bank’s performance improved compared to the September quarter, with profit rising by 91%, chiefly due to a sequential decline in provisions.
Filed under: Banks, Companies, Top News, December 2010 results, Union Bank of India
TVS Motor’s net profit up 137%, stock steadies
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TVS Motor Company’s results do not show an improvement over the September quarter, as sales and net profit rose by just 2% each. But it has done much better over the year ago period.
TVS Motors, the Chennai-based two-wheeler company, with a market capitalization of Rs 2,947 crore saw its December 2010 quarter sales increase by just 2% over the September quarter to Rs 1,647 crore. Net profit too rose by 2% sequentially to Rs 56 crore.
Filed under: Companies, Quick News, December 2010 results, motorcycles, Scooters, TVS Motor Company
BHEL’s orders crawl, accounting policy change boosts profits
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Engineering company Bharat Heavy Electricals Ltd, or Bhel, saw its order book rise by a meagre Rs 4,000 crore to Rs 158,000 crore in the December 2010 quarter, compared to the previous quarter. Order book position is a key variable for any engineering company, as future revenue streams are forecasted, based on the order book’s level and growth. There appears to be a slowdown in new projects, which was visible when Larsen & Toubro declared its results too, recently.
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Filed under: Companies, Engineering, Top News, Accounting, Bhel, December 2010 results
Bajaj Auto’s profit growth robust, margins stable
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The sales of Bajaj Auto, the Rs 38,200 crore market capitalisation motorcycle company, for the quarter ended 31 December 2010 at Rs 4,177 crore, based on standalone figures, are almost at the same level as the previous quarter. Sales are up by 27% over the same period a year ago.
On a sequential basis, its net profit is down by 2% to Rs 667 crore but is up by 40% over the same period, a year ago.
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Filed under: Companies, Top News, Bajaj Auto, December 2010 results, motorcycles
HCL Tech’ sales growth robust, margins stable
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HCL Technologies’ sales grew by about 5% sequentially in the December quarter, due to good performances in its key markets of US and Europe, and high levels of growth in emerging markets. Its performance is comparable to that of Tata Consultancy Services, with revenues rising 4.9% sequentially to Rs 3,888 crore and by 28% over the same quarter, a year ago. Comparable figures for TCS during these periods were 4% and 26%. Continue Reading →