India Movers: Airtel, Dr. Reddy

Mukesh Buch
31 Jul, 2013
New York City

Bharti Airtel net dropped but revenues climbed. HCL Tech profit soared as revenue jumped. ICICI Bank net climbed 25% and non-performing assets surged. IFCI profit plunged 41% as revenues declined 16%. JSW Steel swung to loss. MCX net declined 7%.

[R]6:00 PM Mumbai – Bharti Airtel net dropped but revenues climbed. HCL Tech profit soared as revenue jumped. ICICI Bank net climbed 25% and non-performing assets surged. IFCI profit plunged 41% as revenues declined 16%. JSW Steel swung to loss. MCX net declined 7%.[/R]

The Sensex Index fell 2.64 to close at 19,345.70 The CNX Nifty slid 13.05 to close at 5,742. For the month, Sensex dropped 1.2%.

Gainers & Losers

Andhra Bank declined 6.2% to Rs 64.70 after net profit in the first quarter plunged 36.1% to Rs 231.28 crore and revenues climbed 14.8% to Rs 3,854.16 crore.

Bharti Airtel Limited surged 7.3% to Rs 344.90 and the first quarter net profit dropped 9.6% to Rs 689 crore and revenue jumped 9.2% to Rs 20,264 crore.

Clariant Chemicals (India) Limited gained 0.9% to Rs 505.30 after net profit in the second quarter declined 21.6% to Rs 24.12 crore and sales climbed 12.9% to Rs 318.46 crore.

Dr. Reddy’s Laboratories Limited soared 4.7% to Rs 2,282.55 after net profit in the first quarter declined 63.5% to Rs 64.86 crore and revenues rose 0.41% to Rs 1,791.29 crore.

Financial Technologies (India) Ltd slipped 1.6% to Rs 541.55 after net profit in the first quarter increased 6.8% to Rs 81.20 crore and revenues surged 15.4% to Rs 169.54 crore.

HCL Technologies Limited jumped 3.5% to Rs 937.75 after fourth quarter consolidated net profit soared 16.3% to Rs 1,209.60 crore and revenue gained 8.1%to Rs 6,944.20 crore.

ICICI Bank Limited slid 1.9% to Rs 909.30 after in the first quarter net profit soared 25.3% to Rs 2,274.21 crore and revenue jumped 12.9% to Rs 12,904.97 crore.

As on June, the bank''s net non-performing assets surged to Rs 2,472 crore from Rs 2,234 crore of last quarter.

IFCI Limited rose 0.5% to Rs 21.90 after net profit in the first quarter plunged 41.1% to Rs 55.11 crore and total revenues declined 15.8% to Rs 561.53 crore.

JSW Steel Limited surged 5.9% to Rs 565.45 after the company reported first quarter consolidated net swung to a loss Rs 381.82 crore compared to net profit of Rs 49.65 crore. Total revenue in the quarter grew 3.5% to Rs 10,289.80 crore.

Multi Commodity Exchange of India Limited plunged 7.6% to Rs 640 after net profit in the first quarter declined 7.1% to Rs 60.11 crore and revenues increased 3% to Rs 151.35 crore.

Motherson Sumi Systems Ltd jumped 2.5% to Rs 204.30 after consolidated net profit in the first quarter surged eight-fold to Rs 73.20 crore and total revenue jumped 10.9% to Rs 7,086.87 crore.