Category: Breaking Corporate India Earnings News

Titan Industries has reported a 18.50% decline in its net profit in the March 2007 quarter at Rs 30.32 crore (Rs 37.21 crore). Net sales surged 39.5% to Rs 605.83 crore from Rs 434.15 crore.

The stock of Titan Industries gained momentum, when in late-March the company forayed into the optical eye-wear business by launching a retail chain, Titan Eye+, in Bangalore. The company will offer products, including its own brands, in the fashion eye-wear category besides other licensed brands.

Meanwhile, the world of Titan’s network has increased to 250 from 170 last year and we have plans to increase that to 275 by the end of this fiscal. The company, which has a manufacturing facility in Hosur, Tamil Nadu, and an assembly unit in Dehradun, produces about 10 million watches currently.

Titan has also expanded its range in the sports wear category by introducing the Aviator series of watches. The new series, inspired from World War II fighter aircraft is targeted at the upmarket, global Indian and is priced between Rs 4000 and Rs 7000.

Titan is the only listed player in organised retailing of jewellery with a pan-India network. It markets the jewellery under the ‘Tanishq’ brand. Tanishq commands around 70% share in the branded jewellery market.

Titan Industries also manufactures watches marketed under the Titan and Sonata brand names. It enjoys over 25% share of the total domestic watch market.

The counter of Infomedia India saw sporadic buying activity coupled with huge volumes in the past few days. From Rs 140.80 on 5 April 2007, the stock surged to Rs 198.45 by 19 April 2007. The sharp spurt in the stock came after a renowned investor, Rakesh Jhunjhunwala, mopped up 4.50 lakh shares of the company at Rs 163 per share. Rakesh Jhunjhunwala along with other persons acting in concert already hold 4.23% stake in the company.

Shares from the T2T group are to be delivered, and as a result trading is not possible in such counters. As a result, the daily traded volumes on such scrips decline.

Infomedia India, a special interest publications company, provides commercial information in the form of business directories, popularly called Infomedia Yellow Pages. Infomedia India also publishes at least 10 Indian and international B2B titles.

Satyam Computer Services reported a net profit of Rs 394 crore in fourth quarter ended March 2007 compared to Rs 337.23 crore in the third quarter ended December 2006, a sequential growth of 16.92%. Its revenues increased 7.09% to Rs 1779 crore from Rs 1,661.12 crore.

For FY-2007, Satyam’s net profit jumped 40.12% to Rs 1375.93 crore from Rs 981.93 crore in the previous year. Its revenues rose 35.31% to Rs 6484 crore (Rs 4792.59 crore).

For the year ended March 2007, the group posted a net income of $ 298.4 million compared to $ 249.4 million for the year ended March 2006. Revenues have increased from $ 1096.3 million for the year ended March 2006 to $ 1461.4 million for the year ended March 2007.

Satyam Computer Services has given revenue growth guidance of 20.1 – 22% to Rs 7793 – Rs 7916 crore for FY-2008, and EPS growth of 19.26 – 21.1% to Rs 25.32 – Rs 25.73.

Wipro reported Q4 net profit of Rs 856 crore versus Rs 765 crore in previous quarter, a growth of 11.84%. Its revenues has increased by 8.89% to Rs 4333 crore (Rs 43.33 billion) from Rs 3979 crore (Rs 39.79 billion). Profit After Tax (PAT) grew by 42% YoY to Rs. 29.42 billion (Rs. 2,942 Crore)

Revenues of their combined IT businesses crossed the landmark of USD 3 billion in annual revenue. Wipro’s Global IT business crossed the Rs 100 billion mark and grew 38% to Rs 110.95 billion (Rs. 11,095 crores). The Enterprise Solutions Business in Global IT Services segment crossed USD 1 billion of annual revenue and Finance Solutions Business crossed USD 500 million.

Suresh Senapaty told,

In the last one-year, we won about ten USD 50 million accounts and the kind of pipeline we are seeing and the initiative we have taken in terms of large deals and also the initiative we are taking in Canada, in terms of an investment, all of them are showing up in the results. We would look forward to much more of that coming through in 2007-08. So overall, 2007-08 looks very exciting for us.

The company expects to grow 20-22% in the next 2 years.

Essel Group sources just a while ago informed us that they have raised Rs 445 crore to help fund expansions of group companies Dish TV India and Wire and Wireless India.

The company has placed 3.84 crore shares (9%) of newly-listed direct-to-home broadcaster Dish TV with institutional investors. Dish TV had listed at Rs 120 on debut on Wednesday, closing trade at Rs 102.55, after it was spun off from top listed media firm Zee Entertainment Enterprises.