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The company had posted a net profit of Rs 67.09 crore in January-March quarter of the previous fiscal, it said in a filing to the stock exchanges.
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There were 89 private equity transactions worth USD 644 million in March this year, following which the PE investment deal tally for the January-March quarter stood at USD 2.96 billion, says a Grant Thornton report.
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Renault India today reported 160 per cent jump in domestic sales at 12,424 units in March.
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India's current account deficit (CAD) moderated sharply to 3.6 percent of GDP in Q4 of 2012-13 from a historically high level of 6.7 percent in Q3 of 2012-13 as trade deficit narrowed.
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Traders who were apprehensive of SBI's restructured loan book, pressed the panic button. SBI shares tanked 8%. However, analysts tracking the bank saw it as an opportunity to buy at every decline. SBI shares are expected to rise between 15-25% next one year.
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City Union Bank reported 15 percent year-on-year rise in its fourth quarter (January - March) net profit to Rs 83 crore, aided by other income, which increased 32 percent to Rs 81 crore. Total provisions increased to Rs 44 crore compared with Rs 30 crore a year ago, an accretion of 48 percent y-o-y.
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Bajaj Finance - an NBFC, reported 52 percent year-on-year spike in its fourth quarter (January - March) net profit to Rs 164 crore driven by robust loan expansions. During the quarter, loan disbursements increased 21 percent y-o-y to Rs 5,106 crore. Shares hit 52-week high on Wednesday.
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State-owned Bank of Baroda's Q4 (January - March) net profit tanked more than 32 percent year-on-year to Rs 1,029 crore, dented by higher provisions that nearly doubled from Rs 844 crore to Rs 1,600 crore during the same period. Profit before tax plunged more than 54 percent to Rs 546 crore.
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Bank of Baroda's fourth quarter net profit may fall 31 percent Y-o-Y to Rs 1,051. Net interest income (NII) however would rise 6 percent, according to a poll estimate. The bank will announce its quarterly earnings on May 13, 2013. Investors are not advised to buy BoB shares at the current level.
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Private sector lender South Indian Bank's fourth quarter (January-March) net profit rose by 26.23 percent year-on-year to Rs 154 crore led by other income.
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L&T Finance Holdings' fourth quarter consolidated net profit grew by 21.5 percent year-on-year to Rs 171 crore, sending shares one percent higher.
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IndusInd Bank's March quarter net profit is likely to grow 31 percent year-on-year. Net interest income or the difference between interest earned and paid out would increase more than 35% year-on-year, according to a poll estimate by CNBC Aawaz.
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Private sector lender Yes Bank's fourth quarter (January-March) net profit rose by forecast beating 33 percent year-on-year to about Rs 360 crore, driven by interest income and other income.
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Private sector lender Yes Bank is likely to grow its net profit by 29% year-on-year to Rs 349 crore in the fourth quarter (January - March). Net interest income or the difference between interest earned and paid out, would rise 39% y-o-y to Rs 622 crore, according to a poll estimate.
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Lenders are yet to break free of the clutches of the economic slowdown. Banks' fourth quarter (January-March, FY13) earnings are unlikely to have any positive surprises. Private lenders would continue to perform well while their public sector peers can see some moderation in net interest margins.
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Private sector lender - Development Credit Bank's fourth quarter net profit doubled from about Rs 17 crore to Rs 34 crore year-on-year driven by higher interest income. Net interest income or the difference between interests earned and paid out, shot up by 44% to Rs 82 crore.
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India's manufacturing sector is projected to show a modest growth rate during January-March quarter of 2011-12 on the back of higher book orders and a better export outlook, according to a survey.
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India received foreign direct investment (FDI) worth USD 3.39 billion during January-March, 2011, a decline of 32 per cent vis-a-vis the same period last year, according to the latest data from the industry ministry. In January-March, 2010, the country received FDI worth USD 4.96 billion.
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Seeds company Advanta India's net loss for the January-March or first quarter more than doubled to Rs 3.46 crore from Rs 1.29 crore in the year ago quarter as tax expense soared.
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Apparel maker Raymond’s net profit for the January-March quarter fell 80% year-on-year to Rs 1.27 crore due to higher costs and one-time exceptional provisions.
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Fast moving consumer goods companies in India are expected to report strong sales in January-March quarter, as most of them raised product prices to offset high input costs. However, the price hikes were limited and so will not be able to check margin erosion over the three-month period, analysts say.
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HCL Technologies Wednesday reported strong third quarter earnings that beat analysts forecast by a wide margin. However, some analysts remain cautious given the inconsistent earnings performance and inadequate conversion of profit into cashflow in the past.
