Monday, 31 July 2017

Q1 performance of India's top 5 companies

Profit or loss -

We are half way into June quarter results and more than 15 Sensex companies have already declared their quarterly numbers.

While India Inc’s earnings growth continued to lag estimates for June quarter, the domestic stock market last week hit levels never seen before on Dalal Street.

Here is a review of earnings of India’s 10 most valued companies.

Reliance Industries

Reliance Industries’ consolidated net profit rose 28 per cent to Rs 9,108 crore in the June quarter, compared with Rs 7,113 crore in the same quarter last year.

Profit was boosted by Rs 1,087 crore earned from the sale of stake in Gulf Africa Petroleum Corp.

HDFC Bank

HDFC Bank, the second largest private sector lender, reported a 20.2 per cent year-on-year (YoY) rise in net profit at Rs 3,894 crore for the June quarter.

The lender had reported Rs 3,239 crore profit in the year-ago quarter.

Maruti Suzuki

The country’s largest car maker, Maruti Suzuki India, reported 4.4 per cent increase in net profit at Rs 1,556.4 crore for the first quarter ended June 30, 2017.

Due to strong volume growth, its revenue increased by 16.4 percent to Rs 19,777.4 crore viz-a-viz year-ago quarter.

Infosys

India's second biggest software services exporter Infosys reported a 1.4 per cent growth in its net profit at Rs 3,483 crore for the April-June quarter.

The IT major overshot first-quarter profit estimates helped by key client wins. Infosys added eight clients in its $100 million category during the quarter.

Kotak Mahindra Bank

Kotak Mahindra Bank's June quarter earnings rose 23 per cent to Rs 912.7 crore driven by growth in all its businesses from retail to treasury to corporate lending.

Net interest income climbed 17 per cent to Rs 2,245.5 crore, from Rs 1,919 crore last year.


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