HDFC Q3 net profit Rs 2,114 cr
Housing finance company HDFC Ltd on Tuesday reported a net profit of Rs 2,113.80 crore on the standalone basis for the third quarter ended December 2018. The company had posted a net profit of Rs 5,300 crore in the October-December quarter of the last financial year. The profit numbers for the quarter ended December 31, 2018 are not comparable with that of the quarter ended December 31, 2017, HDFC Ltd said in a statement. In the quarter ended December 31, 2017, the company had sold shares in the initial public offer of HDFC Life Insurance Company Limited for a consideration of Rs 5,250 crore. Total income rose to Rs 10,569 crore during the December quarter against Rs 8,824 crore in the year-ago period. As per National Housing Bank (NHB) norms, the gross non-performing assets stood at 1.22 per cent of the total assets (Rs 4,731 crore) at the end of quarter. The capital adequacy ratio stood at 18.9 per cent, of which Tier I capital was 17.2 per cent and Tier II capital was 1.7 per cent, it said. As per the regulatory norms, the minimum requirement for the capital adequacy ratio and Tier I capital is 12 per cent and 6 per cent respectively, it said. During the nine months ended December 2018, the company’s profit after tax before other comprehensive income was Rs 6,771 crore compared to Rs 8,703 crore in the corresponding period of the previous year.
HCL Tech Q3 net profit up 19%
Software services major HCL Technologies on Tuesday posted a 19 per cent increase in consolidated net profit to Rs 2,611 crore for the December 2018 quarter. The company had registered a net profit of Rs 2,194 crore in the year-ago period, according to a company statement. Its revenue grew 22.6 per cent to Rs 15,699 crore, compared with Rs 12,808 crore in the December 2017 quarter. In dollar terms, the net profit rose 7 per cent to USD 364 million for the December 2018 quarter, while revenue was higher 10.8 per cent to USD 2.2 billion as compared to the year-ago period. The company has maintained its FY19 revenue guidance between 9.5-11.5 per cent in constant currency basis. HCL Technologies board has declared an interim dividend of Rs 2 per share for FY19. The company added 13,191 people (gross) during the quarter to take its total headcount to 1,32,328 at the end of the December 2018 quarter.
Strides Pharma Science Q3 profit at Rs 296.43 cr
Drug firm Strides Pharma Science on Tuesday reported a consolidated net profit of Rs 296.43 crore for the quarter ended on December 31, 2018. The company had posted a net profit of Rs 88.11 crore for the corresponding period of the previous fiscal, Strides Pharma Science said in a filing to BSE. Consolidated revenue from operations of the company stood at Rs 794.50 crore for the quarter under consideration against Rs 748.79 crore for the same period a year ago. While the profit from the continuing operations was Rs 24.61 crore for the third quarter this fiscal, it was Rs 47.34 crore for the same period year ago. The profit from discontinued operations for the quarter ended December 31, 2018 stood at Rs 271.82 crore. It was Rs 40.77 crore for the corresponding period of the previous fiscal.
Escorts Q3 net profit up 52%
Farm equipment and engineering major Escorts on Monday reported a 52.34 per cent increase in standalone net profit at Rs 140.11 crore for the third quarter ended December 2018. The company had posted a net profit of Rs 91.97 crore in the same period of the previous fiscal. Its total income rose to Rs 1,679.47 crore, up 38.42 per cent, during the third quarter as against Rs 1,213.23 crore in the year-ago period. Tractor sales rose 36 per cent to 25,743 units during the third quarter of the current fiscal.
Bajaj Finance posts highest ever quarterly profit
Bajaj Finance Ltd on Tuesday reported 54 per cent jump in consolidated net profit at Rs 1,060 crore — the highest ever quarterly profit — for the third quarter ended December, 2018. The company had posted a net profit of Rs 690 crore in the same period of the previous fiscal. The consolidated results of the company include the results of its wholly owned subsidiaries Bajaj Housing Finance Ltd and Bajaj Financial Securities Ltd, it said in a release. Total income during the December quarter of 2018 was up by 48 per cent at Rs 4,995 crore from Rs 3,374 crore in the same quarter a year ago, it said. Company’s gross non-performing assets (NPAs) and net NPAs as of December 31, 2018 stood at 1.55 per cent and 0.62 per cent respectively, Bajaj Finance said.