Wipro, Ambuja Cements, JP Power in Focus Today
- Wipro reported mixed set of numbers for the quarter ending June 30, 2014. Its consolidated net profit came in at Rs. 2,103 crore against Thomson Reuters estimates of of Rs. 2,124 crore. Wipro reported 1.16 per cent sequential growth in its IT revenue to $1740.2 million. The outsourcer has guided for $1,770-$1,810 million of IT revenue for the next quarter.
- Jaiprakash Power Ventures: Adani group and JSW Energy reportedly have emerged as potential bidders for the power plants of Jaypee group. Adani group offered to buy Jaypee's hydel business in a bid whereas JSW Energy offered a merger between the two group's power business.
- Bharti Infratel reported 29 per cent year-on-year (y-o-y) growth in its net profit to Rs 462 crore for the first quarter of FY15 whereas its revenue grew 8% y-o-y to Rs 2,842 crore. Its gross profit margin improved to 41.5 per cent against 39.9 per cent y-o-y. The results were in-line with estimates.
- Ambuja Cements' Q1 numbers were much better than Street expectations. Its net profit grew 26 per cent y-o-y to Rs 408 crore against expectation of Rs 390 crore. The cement maker reported 15 per cent y-o-y jump in its revenue to Rs 2,706 crore against expectation of Rs 2,609 crore.
- Ranbaxy Laboratories signed licensing agreement with Cipher to market, sell and distribute Cipher's anti-acne Isotretinoin in Brazil.
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