Earnings Today: Lupin, Punjab National Bank, Voltas

Pharmaceuticals manufacturing, Lupin (Photographer: Dhiraj Singh/Bloomberg)

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BQ Desk
Written by

BQ Desk

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Pharmaceutical manufacturer Lupin Ltd., state-owned lender Punjab National Bank, engineering and refrigeration company Voltas Ltd. are among the companies reporting their financial results for the April-June quarter.

Lupin is expected to report a 40 percent decline in profit, according to Bloomberg consensus estimates. Revenue may fall 3 percent on high competition and pricing pressures. Operating income is estimated to decline 24 percent while operating margin is seen contracting more than 6 percentage points to 23.2 percent.

What To Watch

Weak quarter on back of competition and pricing pressures
Teva launched Glumetza while Fortamet pricing issues hurt
Vigamox and Glycopyrrolate will contribute from the next quarter
Seasonal weakness seen in Ceph's business
Loss in Tricor due to entry of Cipla and Hetero
Gavis ex-Methergene is expected to remain flat

Punjab National Bank may see its asset quality improve marginally led by a moderation in slippages and higher recoveries. The lender's net interest income is expected to increase 2 percent from last year to Rs 3,773 crore, according to Bloomberg consensus estimates. Net profit will likely rise 12.4 percent to Rs 344 crore.

What To Watch

Commentary around bad loan formation and resolutions
Provisions required for accounts referred to NCLT
Capital raising plans and sale of non-core assets
Guidance around margins and loan growth
Decision on savings deposit rate

Voltas may see revenue rise 7 percent to Rs 1,985 crore, Bloomberg consensus estimates show. Profit may increase more than 6 percent over last year. Operating income is seen 3.8 percent higher at Rs 207 crore, while operating margin is expected to contract 40 basis points.