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Friday, January 17, 2014




TOP FIVE CORPORATE NEWS


·        ITC Q3 net up 16% to Rs 2,385cr but margin disappoints.
 ITC surpassed street expectations on top line and bottom-line in the December quarter, but operational performance fell short. Quarterly net profit rose more than 16 percent year-on-year to Rs 2,385 crore led by huge rise in other income. Revenues jumped 13 percent to Rs 8,623 crore in the quarter ended December 2013 as against Rs 7,627 crore in a year ago period.

·        Federal Bank Q3 net rises 9% to Rs 230cr, NPA declines

Federal Bank reported 9 percent growth in profit after tax and 9.71 percent in net interest income for the quarter ended December 2013 compared to a year ago period. Net profit of the bank stood at Rs 230 crore as against Rs 211 crore while net interest income, the difference between interest earned and interest expended, rose to Rs 545.6 crore from Rs 497.3 crore year-on-year.

·        HDFC Bank Q3 net profit at Rs23257 million.
 HDFC Bank Ltd has posted a net profit of Rs. 23257.00 million for the quarter ended December 31, 2013 as compared to Rs. 18590.70 million for the quarter ended December 31, 2012. Total Income has increased from Rs. 108181.30 million for the quarter ended December 31, 2012 to Rs. 127389.50 million for the quarter ended December 31, 2013.

·        RIL beats estimates, Q3 net at Rs 5,511cr

Reliance Industries has posted a net profit of Rs 5511 crore during the October-December quarter for financial year 2013-14. Net profit for the corresponding quarter last year stood at Rs 5,502 crore. Revenue during the quarter was up by 10.5% at Rs 1.06 crore.

·        Wipro Q3 net profit up 27%, beats estimates
     Wipro Ltd, India's third-largest IT services exporter, reported a 27% rise in quarterly net profit, topping estimates, bolstered by rising demand from overseas clients. The company's consolidated net profit from continuing operations for the three months ended Dec. 31 rose to Rs 20.15bn ($327 million) from Rs 15.9bn a year earlier.

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