Category: Breaking Corporate India Earnings News

Larsen & Toubro has bagged contracts worth Rs 853 crore.

The company has secured an order valued at Rs 366 crore from the Abu Dhabi Water & Electricity Authority for design, supply installation and commissioning of the two 132/22 kV substations at Saadiyat Island, Abu Dhabi. Each Substation consists of 132 V gas insulated switchgear 22 kV gas insulated switchgear 63/80MVA 132/22 kV transformers, substation control & monitoring system, protection & telecommunication system, DC system & auxiliaries and substations. The contract will be completed within 18 months.

The company has secured another order for turnkey construction at 400/220 kV extra high voltage substations valued at Rs 200 crore from the Power Grid Corporation of India. One of these major substation is to be located at Gurgaon (Near Delhi) will be 400/220 kV gas insulated substations. The other air insulation substations will be located at Bhinmal and Kankroli in Rajasthan and Zerda in Gujarat. The scope of work includes supply, erection testing & commissioning of 315 MVA transformers, 400 kV reactors, substation automation & protection system and total civil & air-conditioning works.

ECC (company’s construction division) water and utilities group has also bagged three orders valued at Rs 287 crore.

The scrip had hit a high of Rs 2,450 today, which is also its all-time high, and a low of Rs 2,400 so far during the day. It had touched a 52 week low of Rs 978.50 on 24 July 2006.

Bajaj Auto first quarter results are way below street expectations. The company reported net profit at Rs 226.47 crore in the first quarter of FY08 as against Rs 266.01 crore in corresponding quarter of previous year.

Bajaj Auto net sales also declined to Rs 2109.1 crore versus Rs 2202.66 crore in the same quarter of previous year.

iGate has posted decline of 36.72% in the first quarter net profit at Rs 14.3 crore (Rs 143 million) versus Rs 22.6 crore (Rs 226 million) in the earlier quarter.

The revenue was also down 5.09% at Rs 199.4 crore (Rs 1.99 billion) as against Rs 210.1 crore (Rs 2.1 billion).

Results of HDFC Bank for Q1-07 [Quarter ended June] were in line with Citigroup and Dalal Street Analyst Expectations.

HDFC Bank reported a net profit at Rs 321 crore for the quarter. The net interest income has gone up by 27.46% at Rs 1,042.2 crore (Rs 10.42 billion) Operating profit also seen a surge of 41% in first quarter at Rs 783.68 crore (Rs 7.83 billion).

The Board approved raising equity USD 1 billion or Rs 4200 crore, whichever is higher, from domestic or international markets and Allotted shares worth Rs 1390.1 crore to parent HDFC via preferential issue.

Pursuant to the resolution passed by the shareholders on 18 October 2005, Welspun-Gujarat Stahl Rohren issued FCCBs of aggregate amount of US$75 million.

In this connection, the company has set up GDR programme on 06 July 2007 with the listing approval from the Singapore Stock Exchange Securities Trading wherein the FCCB holders may opt for conversion of their bonds in to a number of GDR equal to the number of equity shares that would have been allotted had the bondholder opted for conversion in to equity shares.

The company made this announcement during trading hours today, 10 July 2007.

Infosys Technologies is seen reporting a fall in net profit on a sequential basis in Q1 June 2007 due to the surge in the rupee and wage hike. The revenue is expected to grow only a bit on a sequential basis. Infosys unveils Q1 results on Wednesday, 11 July 2007.

Market men also expect Infosys to revise downwards its rupee EPS guidance for FY 2008 to factor in the impact of the rupee’s rise. But they expect Infosys to raise revenue guidance in dollar terms. This will help it maintain the EPS guidance in dollar terms. Infosys had guided a 20% to 22% growth in EPS in FY 2008 and a higher 25.7% to 27.7% growth in EPS in dollar terms at the time of announcing FY 2007 (year ended March 2007) results.

On a consolidated basis, Infosys reported a 16% rise in net profit to Rs 1,144 crore in Q4 March 2007, from Rs 983 crore in Q3 December 2006. Sales rose 3% to Rs 3,772 crore in Q4 March 2007, from Rs 3,655 crore in Q3 December 2006.