Friday, January 18, 2013

Earning Results Season: HDFC, ITC, and Wipro earnings!

The Indian market is trending much beyond expectations; thanks to the diesel price hike and satisfactory quarterly earnings of a bunch of companies. HDFC and ITC have registered good growth while Wipro earnings did not have much of a positive impact as expected.

It is after four quarters of sluggish growth that ITC registered profit, rising at Rs. 20.5 billion for the quarter ended December 31. Net sales rose to Rs. 76.3 billion at 23 percent. Launch of low-cost products and improvement of cigarette volumes triggered the growth.

HDFC in its Q3 earnings posted registered a 30 percent rise in profits; the triggering parameters are stable asset quality, better fee income, and a higher loan growth.

Wipro earnings, compared to performance of other software giants, did not meet market expectations. Though Wipro posted an 18 percent gain this December quarter, yet its shares slumped high – the highest fall in nine months.

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