In an interview to CNBC-TV18, Shankar Lal Somani, Chairman, Sumeet Industries spoke about the results and his outlook for the company.
Consolidated total income stood at Rs 1,298.75 crore for the quarter under consideration as against Rs 864.86 crore in the year-ago period.
Persistent is targeting to maintain its profit before tax (PBT) margins at 18-20 percent this year by a strategy shift. The company will now sell its products to enterprise instead of independent software vendor (ISV) clients, Mritunjay Singh, ED and COO of Persistent said.
Sintex Industries has achieved 25 percent revenue growth. Sunil Kanojia, group CEO of Sintex Industries spoke about company's fundamentals and future prospects.
In the second half of the year, TT Jagannathan, chairman, TTK Healthcare expects sales to grow by 10 percent but bottomline to drop again by about 5 percent. He expects profit before tax to be about Rs 15 crore after spending around Rs 11 crore on initiatives.
The company had reported a net profit of Rs 55.27 crore in the corresponding period last year
If there is no supplementary Budget, this year's subsidy amounts that will be due from the government at the end of the year will be a frightening Rs 1,500 crore
Nischal Maheshwari of Edelweiss Financial Services says downgrades for earnings continue for the current quarter as well because there was no rate cut from RBI. A rate cut would have helped the companies to bring down their costs.
CAG today pulled up Defence PSU Hindustan Aeronautics Limited (HAL) for excess payment of Rs 43 crore as incentives to its management in 2009-10 by adopting an "illogical" method of calculating the profits of the company.
SMC Global has come out with its report on savings bank deposits de-regulation. As per the research firm, the interest rates on savings bank accounts are bound to move up post deregulation.