Share prices of HDFC Bank, Reliance Industries, HCL Technologies and Tata Consultancy Services (TCS) fell 2-3 percent intraday on January 20 after the companies reported their third quarter numbers.
Reliance Industries, on January 17, reported highest ever quarterly profit of Rs 11,640 crore (up 3.4 percent QoQ and 13.5 percent YoY) driven by strong telecom, retail and refining business. Higher other income and lower tax cost also supported profitability.
The same day, HCL Technologies reported slightly better than expected revenue and margin with a revision of lower end of full year guidance.
The company reported a 14.6 percent sequential growth in Q3 profit on revenue of Rs 18,135 crore that increased 3.5 percent QoQ. Dollar revenue grew by 2.3 percent QoQ and constant currency revenue growth stood at 2.1 percent in Q3.
HDFC Bank registered 32.8 percent year-on-year growth in Q3FY20 profit, partly driven by operating income, and 12.7 percent rise in net interest income with a loan growth of 19.9 percent YoY. Net interest margin remained steady at 4.2 percent QoQ.
TCS registered a 0.94 percent sequential growth (up 0.16 percent YoY) in third quarter net profit at Rs 8,118 crore, impacted by lower other income (down 40 percent QoQ).
Revenue in rupee terms grew by 2.3 percent QoQ (up 6.7 percent YoY) to Rs 39,854 crore for the quarter ended December 2019, while dollar revenue increased 1.3 percent sequentially to $5,586 million
Reliance Industries was quoting at Rs 1,542.95, down Rs 37.70, or 2.39 percent, and HCL Technologies was quoting at Rs 591, down Rs 7.80, or 1.30 percent.
HDFC Bank was trading at Rs 1,254.50, down Rs 23.35, or 1.83 percent, and Tata Consultancy Services was down Rs 58.05, or 2.62 percent, at Rs 2,160 on the BSE.