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It gives us immense pleasure to present the second weekly update of the financial re-sults of Q3 FY11 declared by the Corporate India in the past week.
We expect Corporate earnings on the whole to grow by 13% for Q3FY11. Telecom sec-tor might lag the overall market in terms of earnings performance. There may be im-provement in margins of metal companies due to higher realizations. Auto companies will continue to outperform in terms of volume expansion. We expect Cement, Power and Construction companies to witness negative growth in profitability.
Key Results:
Bajaj Auto - Q3 net profit is up by 40% at Rs 667 cr vs Rs 475 cr. Revenues up by 27% at Rs 4177 cr vs Rs 3295 cr. Raw material cost was up at Rs 278 cr vs Rs 210 cr Operating profit is up by 25% at Rs 949 cr vs 759 cr. PAT margins have improved significantly by 16%
Exide - Operating margins came under pressure due to higher input cost of Lead which is up by 13% this quarter on an average as compared to the last sequential quarter.
HT Media - Improving yields and partly higher pricing led to robust revenue of 27% Y-o-Y. English ad grew 25% Y-o-Y and Hindi grew by 35% Y-o-Y
Yes Bank - The Bank has reported strong growth in the current year with advances and deposits registering growth of 66% and 79% YOY, respectively as on 31 Dec 2010.The Bank’s CASA ratio shot up by 81% to Rs 4037 Cr taking the CASA ratio of 10.2% on Dec 2010.
HDFC - Profit after tax at the end of December shows 33% increase as compared to last year. For the nine month period ended ,Dec 31 2010, total assets shows an in-crease of 20%. For the same period non performing loans were 0.85% while in the previous year it was 0.94%.
LIC Housing - In Q3 of FY 2011 total Income increased from Rs 878 Cr to Rs 1213 Cr, showing the growth of 38% mainly due to strong macro economic growth
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