Wipro after market hours on Tuesday, 22 October 2013 reported 19.02% rise in consolidated net profit to Rs 1932.1 crore on 12.92% rise in total income from operations (net) to Rs 10990.7 crore in Q2 September 2013 over Q1 June 2013.
Wipro said it expects revenues from IT services business to be in the range of $1,660 million to $1,690 million for Q3 December 2013 based on the exchange rates of GBP/USD at 1.57, Euro/USD at 1.34, AUD/USD at 0.93 and USD/INR at 61.98.
Azim Premji, Chairman of Wipro, commenting on the results said "There are positive indicators on the global economy. Client confidence is on the uptick and we see it reflected in our results."
T K Kurien, Executive Director & Chief Executive Officer of Wipro, said "We achieved a broad based revenue growth across all industry verticals and continue to focus on executing to our strategy."
Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said "Our sustained execution towards increasing operational efficiencies in the business coupled with currency benefits helped offset the impact of wage hikes resulting in strong improvements in operating margins."
ACC, Ambuja Cements, Hero MotoCorp and Power Grid Corporation of India unveil quarterly earnings today, 23 October 2013.
ING Vysya Bank's net profit rose 17.4% to Rs 176.28 crore on 9.9% increase in operating income to Rs 1501.96 crore in Q2 September 2013 over Q2 September 2012.
Cairn India after market hours on Tuesday, 22 October 2013 reported 8% rise in consolidated net profit to Rs 3385 crore on 14% rise in revenue to Rs 4650 crore in Q2 September 2013 over Q1 June 2013. Current group production rose 0.4% to 213,299 barrels of oil equivalent per day (boepd) in Q2 September 2013 over Q1 September 2013.
Cairn India reported 46% rise in consolidated net profit to Rs 3385 crore on 5% rise in revenue to Rs 4650 crore in Q2 September 2013 over Q2 September 2012.
The company said that previous quarters/ half year/ year's figures were regrouped / rearranged wherever necessary to confirm to the current quarter. Hence, figures for the quarter/ half year ended 30 September 2012 are not comparable with the current quarter/ half year's figures as the Scheme of Arrangement was accounted for during the quarter ended 31 December 2012.
Elango P, whole time director, Cairn India said, ''We are happy to report increased gross operated production of almost 213,300 barrels of oil equivalent per day (boepd) during Q2 September 2013 and remain on track for our financial year exit production rate guidance of over 225,000 boepd across all producing assets.
We are focused on enhancing the recovery efficiency from our producing fields through the use of cutting edge EOR techniques. We have also been extremely active with the drill bit as we continue to aggressively develop our world class resource base. Whilst Rajasthan remains at the heart of the Company's operations, it is encouraging to see tangible results across our broader portfolio.
We remain excited on the regulatory front and are pleased to share that the government has recently announced its policy on the Integrated Development Plan. Looking ahead, we have a strong balance sheet, underpinned by significant cash flow generation and low operating costs, allowing us the flexibility to further develop the asset base. This, combined with a highly motivated and innovative team working on our world class portfolio, will enable us to maintain our industry leading production growth trajectory in the long term.''
Cairn India's average oil price realization rose to $96.7/bbl in Q2 September 2013 from $94.6/bbl in Q1 June 2013, while average gas price realization rose to $5.90 per thousand standard cubic feet (mscf) in Q2 September 2013 from $4.9/mscf in Q1 June 2013. In its outlook, Cairn India said that robust financial performance with strong revenues and profits has resulted in the company being well placed to not only develop the current asset base and deliver on the active exploration growth program with its $3 billion capex plan till FY 2015-16, but also opened up inorganic growth opportunities to further strengthen the E&P portfolio.
On a consolidated basis, Mahindra Forgings reported a net profit of Rs 16 crore in Q2 September 2013 compared with a net loss of Rs 19 crore in Q2 September 2012. Revenues rose 14.16% to Rs 645 crore in in Q2 September 2013 over Q2 September 2012. EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) surged 165% to Rs 53 crore in Q2 September 2013 over Q2 September 2012.
On a consolidated basis, Eros International Media's net profit rose 41.76% to Rs 36.97 crore on 12.80% decline in total income to Rs 201.47 crore in Q2 September 2013 over Q2 September 2012. EBIT rose 18.80% to Rs 50.31 crore in Q2 September 2013 over Q2 September 2012.
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