HCL tech is a very good company from technology sector. Company reported its second quarter results. It was above expectations. Net profit was increased by 43.7% and reached at Rs 572.7 Cr. It has a forex loss of Rs 75.8 Cr in the period. It is higher than the forex loss of Rs 13.5 Cr in the second quarter previous year. EBITDA was reached to 970 Cr surged by 53.7%. Company hired 2556 employees in the period. They have signed with 57 new clients in the quarter.Total employees of the company are now 226751.
ING Vaisya Bank
ING Vaisya Bank is an aggressive private sector bank in India. It reported its third quarter results. The results were above expectation and net profit was rose 44.3% to Rs 120 Cr due to high interest income. Net interest margin was further improved to 3.49% from 3.35%. Bank’s loan book expanded by 22% and reached at Rs 26752 Cr. Total deposit is expanded by 16% by reaching Rs 31654 Cr. Non Performing Asset Ratio is remaining same at 0.31%. Gross NPA Ratio is improved to 2.02.
Tata Consultancy Services
Tata Consultancy Services reported 23% growth in the second year consolidated net profit. It reported a net profit Rs 2887 Cr. Revenues in the period jump to 37%. It went to Rs 13204 Cr. Operating margins were up 219 basis points in this quarter. Company reported a forex loss of Rs 300.1 Cr in the quarter. It was Rs 52.16 Cr profit in the same period, previous year. Company’s Europe, US and UK business were grown by 18.1%, 13.3% and 9.5% respectively. Company added 40 new clients in this quarter. The number of USD 100 million clients increased to 14 from 12. Company also added 11981 employees in the quarter. Total employees of the company are now 226751.
South Indian Bank
The net profit of Kerala based South Indian Bank is increased by 32% in the third quarter FY 2012. It reported a profit of Rs 280 Cr in the third quarter. It is also trying to raise Rs 1000 Cr by Qualified Institutional Placement. It is aggressively focusing on the corporate loans. It will start six corporate branches in the cities like Mumbai, Kolkata, Bangalore, Hyderabad, Chennai and New Delhi. It is trying to keep its net interest margin above 3%. It’s loan book is increased by 30% to Rs 25050 Cr. Gross Non Performing Asset Ratio is increased to 0.94 from 0.99. Capital Adequacy Ratio stood at 12%. Bank’s deposit book was grown by 25% to Rs 33834 Cr.
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