DlF Q1 net profit falls 29 pc at Rs 127.77 cr
India’s largest realty firm DlF on Thursday reported 29 per cent decline in consolidated net profit at Rs 127.77 crore for the quarter ended June on lower sales. Its net profit stood at Rs 181.19 crore in the year-ago period. Total income from operations fell by 25 per cent to Rs 1,725.17 crore in the first quarter of this fiscal as compared to Rs 2,314.08 crore in the corresponding period of previous year. Share price of DlF, which has a land bank of about 300 million sq ft, declined by 0.87 per cent to close at Rs 198.40 on the BSE. Its market cap stood at Rs 35,347.40 crore.
HCl Tech Q4 Net jumps 53.7 pc; sees strong growth ahead
Buoyed by strong growth in application and infrastructure services, India’s fourth largest IT solutions firm HCl Technologies today reported a 53.7 per cent surge in its consolidated net profit to Rs 1,834 crore for the fourth quarter ended June 30, 2014. The company, which follows a July-June quarter, had posted a net profit of Rs 1,193 crore in the year-ago period. Consolidated revenues of the Noida-based firm rose 20.7 per cent to Rs 8,424 crore in the April-June quarter as against Rs 6,980 crore in the same period last year. “The traction in application and infrastructure services has been strong. It was a strong year for us, we crossed the USD 5 billion revenue milestone and have further evolved the key building blocks to deliver next generation propositions to customers,” HCl Technologies CEO Anant Gupta told reporters.
ICICI Bank’s consolidated Q1 Net rises 3% to Rs 2,832 crore
The country’s largest private sector lender, ICICI Bank, on reported three per cent rise in its consolidated net profit at Rs 2,832 crore. On a standalone basis, the bank posted 17 per cent rise in net profit
at Rs 2,655 crore. The Chanda Kochhar-led bank had reported a post tax net profit of Rs 2,274 crore in the corresponding period, it said in a statement. During the reported quarter, the bank’s total income increased to Rs 14,616 crore from Rs 12,904 crore in the year ago period. Its operating profit was up 18 per cent to Rs 4,517 crore as against Rs 3,814 crore in the April-June period of last year. The bank’s total provisions were up 22.42 per cent to Rs 726 crore as against Rs 593 crore in the same period year ago.
RBI to unveil third bi-monthly policy review on Aug 5
Amid expectations of a rate cut to boost industrial activities, the Reserve Bank today said it will come out with its third bi-monthly Monetary Policy Review on Tuesday. The central bank in a release said: “The Reserve Bank of India will announce the Third Bi-monthly Monetary Policy Review, 2014-15 on Tuesday, August 5, 2014.” In its last policy review in June, the RBI had kept the repo rate--at which it lends to the banks-- unchanged at 8 per cent. Exhibiting signs of revival, India’s manufacturing activity, gauged by the Index of Industrial Production (IIP), had rose to 19-month high of 4.7 per cent in May on account of improved output from mining, power and capital goods sector. Besides improved industrial activity, retail inflation fell to a 30-month low of 7.31 per cent in June.