Reliance Industries and Tata Consultancy Report Record Profits

Mukesh Buch
17 Jan, 2014
New York City

HDFC Bank net surged 25%. Hindustan Zinc net jumped 7%. ITC net soared 16.3%. MindTree plunged after net declined 31%. Reliance net rose 0.2% to $0.9 billion and revenue jumped 10% to $17.2 billion. TCS net surged 15%.

[R]6:00 PM Mumbai – HDFC Bank net surged 25%. Hindustan Zinc net jumped 7%. ITC net soared 16.3%. MindTree plunged after net declined 31%. Reliance net rose 0.2% to $0.9 billion and revenue jumped 10% to $17.2 billion. TCS net surged 15%.[/R]

The Sensex Index dropped 201.56 or 0.9% to close at 20,063.62. The CNX Nifty slumped 57.25 to close at 6,261.65. For the week, Sensex jumped 1.5%.

Gainers & Losers

Aksh Optifibre Limited surged 8.3% to Rs 15.70 after the company secured Rs 200 crore order for Package B of National Optic Fibre Network backbone project.

The Federal Bank Limited dropped 2.8% to Rs 79.45 after net profit in the third-quarter jumped 9.2% to Rs 230.13 crore and total revenue increased 9.9% to Rs 1,895.92 crore.

For the quarter, ratio of gross non-performing assets to gross advances improved to 2.83% compared to 3.85% a year ago period.

HDFC Bank Limited fell 0.8% to Rs 668.30 after net profit in the third-quarter surged 25.1% to Rs 2,325.70 crore and revenues jumped 17.8% to Rs 12,739 crore.

Net interest income in the quarter climbed 16.4% to Rs 4,634.80 crore and total deposits soared 22.9% to Rs 3,49,215 crore.

Hindustan Zinc Limited slid 0.8% to Rs 129.45 after net profit in the third-quarter jumped 7% to Rs 1,723 crore and net sales climbed 9% to Rs 3,410 crore.

ITC Limited slipped 0.3% to Rs 324.85 after net profit in the third-quarter soared 16.3% to Rs 2,385.34 crore and total revenue surged 13.4% to Rs 9117.91 crore.

Gross revenue climbed 12.9% to Rs 12,223.44 crore mainly driven by the new consumer goods businesses and the paperboards, paper and packaging segment.

KRBL Ltd fell 0.6% to Rs 40.70 after net profit in the third-quarter surged 241.7% to Rs 71.08 crore and net sales soared 40.9% to Rs 703.60 crore.

MindTree Ltd plunged 5% to Rs 1,421 after net profit in the third-quarter declined 31.2% to Rs 88.50 crore and revenue grew 2.7% to Rs 790.60 crore.

Rallis India Limited decreased 0.2% to Rs 177.45 after net profit in the third-quarter surged 38% to Rs 30 crore and net sales climbed 17% to Rs 396 crore.

Reliance Industries Limited slid 0.1% to Rs 884.55 after net profit in the third-quarter rose 0.2% to Rs 5,511 crore or $0.9 billion and revenue climbed 10.5% to Rs 1,06,383 crore or $17.2 billion.

Reliance said exports in the quarter jumped 11.3% to Rs 74,495 crore or $12.1 billion and profit-before-tax rose 2.1% to Rs 6,992 crore or $1.1 billion.

Tata Consultancy Services Limited declined 5.8% to Rs 2,215.65 after net profit in the third-quarter surged 15.1% to Rs 5,333 crore and revenue rose 1.5% to Rs 21,294 crore.