HCL Tech Q4 net profit up 51% at Rs 330 cr; stock gains!

HCL Technologies has announced its Q4FY09 numbers. Its net profit increased 51.3% to Rs 330 crore versus Rs 218.1 crore and revenues rose 1.63% to Rs 2,908 crore from Rs 2,861.5 crore, QoQ. Reacting to the results, the share was quoting at Rs 309.75, up Rs 19.75, or 6.81% at 10.09 am.

In dollar terms, its Q4 revenues were up 7.6% to $ 607.2 million versus $ 564.4 million. It was best among all peers this quarter. Constant currency growth was at 3.95%.

United Spirits posts positive results | Net up 51%

Liquor major United Spirits has declared its first quarter results. The company's first-quarter net profit was up 51% at Rs 177 crore versus Rs 117 crore year-on-year (YoY) while its net sales were up 22.60% at Rs 1,242 crore versus Rs 1,013 crore YoY.

Mallya said the company saw good sales growth of 17% despite there being 11 dry days due to the general elections. “We focused on cost control given the spiraling raw material costs and we have achieved 18.3% EBDITA margin to net sales as compared to 16% in the previous financial year,” he said.

United Spirits had earlier initiated the sale of treasury stock via which it repaid USD 186 million of debt, Mallya said, adding that the company was considering to raise another USD 300 million — which may be via the qualified institutional placement (QIP) route — to reduce debt further. “There are two world-class private equity investors who are extremely keen and we are working with them. So, going forward, in the next 60-90 days, you will probably see the second tranche of fund raising to pay down the debt even further,” he said.

Prices of molasses, Mallya added, had softened and may reduce further ahead.

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Glenmark Pharmaceuticals Posts Q1 results

Glenmark Pharmaceuticals has posted a net profit after tax of Rs 534.546 million for the quarter ended June 30, 2009 as compared to Rs 1153.768 million for the quarter ended June 30, 2008. Total Income has increased from Rs 4717.417 million for the quarter ended June 30, 2008 to Rs 5512.800 million for the quarter ended June 30, 2009.

Traders can take fresh positions in the stock as Glenmark Pharmaceuticals Looks strong from Short term point of view.

Punj Lloyd posts Q1 Results

Punj Lloyd has posted a net profit after minority interest and share of Profits/(loss) of Associates of Rs 1271.60 million for the quarter ended June 30, 2009 as compared to Rs 1118.50 million for the quarter ended June 30, 2008. Total Income has increased from Rs 26581.60 million for the quarter ended June 30, 2008 to Rs 29790.40 million for the quarter ended June 30, 2009.