Bharti Airtel, L&T, Dr Reddy's Lab in Focus Today
- Â Bharti Airtel reported 15 per cent sequential jump in its first quarter net profit to Rs 1,108 crore driven by strong growth in its Indian business. However its Africa business continued to remain weak. Its revenue grew 3 per cent sequentially to Rs 23,005 crore as against Rs 22,260 crore last quarter.
- IDFC reported first quarter numbers in-line with street estimates on Tuesday. Its net profit declined 14 per cent year-on-year to Rs481 crore against Rs 557 crore whereas its net interest income remained flat at Rs 682 crore against Rs 684 crore y-o-y.
- Ranbaxy Laboratories has beaten Street expectation on its first quarter numbers. Its loss declined to Rs 186 crore in the first quarter against Rs 524 crore loss in the same period last fiscal. Its ebitda margin grew to 9.3 per cent against 7.8 per cent sequentially.
- Larsen & Toubro reported lower than expected numbers in its first quarter. Its standalone adjusted net profit grew 15 per cent y-o-y to Rs 765 crore against Rs 664 crore and its revenue grew 5 per cent y-o-y to Rs 10,338 crore. Its hydrocarbon business had taken an unexpected hit of Rs 900 crore.
- Dr. Reddy's Laboratories will report its first quarter numbers today. Its revenue is expected (NDTV analysts poll) to grow 23 per cent y-o-y to Rs 3,513 crore whereas its net profit is likely to grow 49 per cent to Rs 539 crore.
- Lupin is expected to report 39 per cent y-o-y jump in its net profit to Rs 557 crore and its revenue is likely to grow 36 per cent to Rs 3,307 crore.
- Bank of India will report its first quarter numbers today. Its net profit is expected to decline to Rs 665 crore against Rs 964 crore y-o-y and its net interest income seen growing to Rs 2,840 crore against Rs 2,537 crore.
- SpiceJet: Directorate General of Civil Aviation has sought details of dues from SpiceJet and is doing an engineering audit of SpiceJet to determine quality of maintenance of aircraft and availability of spares. SpiceJet deducted TDS from the salaries of their employees but neither has given a TDS certificate nor Form 16 so far.
- Sesa Sterlite reported below expected numbers. Its reported net profit was down 69 per cent sequentially to Rs 376 crore and its revenue declined 18 per cent q-o-q to Rs 17,056 crore.
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