GoDaddy first-quarter revenue forecast misses estimates

(Reuters) – GoDaddy Inc forecast current-quarter revenue on Wednesday that missed analysts’ estimates, sending its shares down more than 2 percent and overshadowing the web hosting company’s strong fourth-quarter results.

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For the first quarter, GoDaddy expects total revenue between $705 million and $715 million, while analysts were expecting $716.3 million, according to IBES data from Refinitiv.

The company also forecast full-year 2019 revenue in a range of $2.97 billion to $3.00 billion, compared with Wall Street estimates of $2.99 billion.

The world’s largest domain name registrar said it had about 18.5 million customers at the end of the fourth quarter, up 6.8 percent compared with a year earlier. Average revenue per user rose 6.6 percent to $148 in the reported quarter.

Net income attributable to the company fell to $42.5 million, or 24 cents per share, in the quarter ended Dec. 31, from $92.6 million, or 54 cents per share, a year earlier.

Analysts were expecting the company to earn 14 cents per share.

Total revenue rose 15.5% to $695.8 million, beating estimates of $693.6 million.

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Shaily Engineering Plastics: A disappointing Q3, but don’t overlook its long-term prospects

MoneyControl Report: Shaily Engineering Plastics: A disappointing Q3, but don’t overlook its long-term prospects.

Highlights:
– After the recent correction, the stock offers value
– Traction in the home furnishing segment will be crucial to overall growth
– Utilisation rate at the medical packaging facility will have a bearing on the margins
– Crude price volatility may impact short-term cash flowsHighest quarterly revenue for four years (since Q3 FY14/15) – US$14 billion, up 8.5% year-on-year (YOY) and 6th consecutive quarter of YOY revenue growth

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Shaily Engineering Plastics, a high-precision polymer processing player, reported a weak set of numbers for Q3 FY19. The stock trades close to its 52-week low and leaves enough room for a re-rating, albeit in the long run.

A growing order book in home furnishing, unique product offerings and impetus towards efficiencies in the medical segment, and steady demand trajectory in other verticals (auto, FMCG, lighting) would be the factors to watch out for.

Exports constitute 70-75 percent of Shaily’s annual turnover. Around 30-35 of the world’s leading original equipment manufacturers procure supplies from the company.

1

Q3 analysis

Positives 

  • Gross margin expanded because of pass-through of raw material costs, which were on an upmove in Q2 in tandem with crude prices

Negatives

  • Sales growth was slower year-on-year (YoY) because of delayed orders and change in inventory policies by the Swedish home furnishing major (SHFM)
  • EBITDA margin contracted due to lack of operating leverage and higher investments for bagging new orders. Net profit margin dipped because of lower other income and a significantly higher tax rate
  • Finance costs increased YoY since debt was taken for funding land acquisition and other capex
  • The target to achieve $100 million in revenue has been postponed by a year to FY21-end

Result snapshot2

Observations

Swedish home furnishing major’s expansion plans in India

SHFM is the world’s largest designer-cum-retailer of ready-to-assemble furniture and home/kitchen accessories. It plans to invest Rs 10,000 crore in India over the next 5-6 years. One of its outlets at Hyderabad is already functional, whereas two more will begin operations over the next two fiscals.

This development assumes importance for Shaily for the following reasons:
– 50-60 % of its revenue is attributable to the SHFM
– It is associated with SHFM for over a decade

– It possesses technical know-how to manufacture products in accordance with the SHFM’s strict standards. So, there are high entry barriers in this category.

Shaily will commence supplies of ‘carbon steel’ furniture to the SHFM from October 2019. The management expects sales of Rs.100-120 crore from this project (involving a capital outlay of Rs 50 crore) by FY21.

Client additions in home furnishing are underway

Starting Q4 FY19, Shaily will begin supplying products to another large Europe-based global department store, whose yearly sales are close to $100 billion and network spans 10,000 stores across countries. Going forward, the order size has the potential to increase substantially.

Demand for medical packages will help derive operating leverage

The healthcare segment is divided into two sub-segments – devices (insulin pens, dermatological pens) and CRC (child-resistant closures and bottles) packaging. Since compliance costs are steep and clients (i.e. pharmaceutical companies) are intolerant towards errors, there are not too many players in this space.

Utilisation rates at the package manufacturing facilities will pick up only when new orders are secured from domestic pharma clients. The CRC facility, at optimum utilisation levels, can add Rs.55-60 crore to Shaily’s top-line. For now, visibility is to the tune of Rs.20-25 crore only.

Higher use of plastics in auto, FMCG and lighting

In the automobile segment, the use of plastics for manufacturing critical components is on the rise within and outside India. The domestic FMCG industry is steadily growing, which results in higher demand for packages. Increasing electrification coverage has helped boost demand for LED lighting. Shaily has business associations with leading brands in these industries.

Cost rationalisation

Labour and power expenses, which rose sharply in 9M FY19, are expected to normalise over the next 2-3 quarters. Consequently, the strain on margin should reduce.

Key risks

– Delays in project implementation from the clients’ end may restrict top-line growth

– Raw material price hikes are passed on the customers, but the amount is received after a lag of 3-6 months. This impacts short-term cash flows

Outlook

– After a poor Q3 performance, the stock is close to its 52-week low
– FY19 will end on a subdued note because of sluggish sale volumes
– The stock trades at 20.2 times its FY20 projected earnings

– Any meaningful uptrend in valuation multiples may be visible only from H2 FY20 (i.e. when incremental orders in home furnishing start translating into revenue)

3

 

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PC maker Lenovo’s Delivers Strong Performance in Q3 profit and beats expectations

Lenovo Delivers Strong Performance with Highest Quarterly Revenue in Four Years and Record Pre-Tax Income.

  • Highest quarterly revenue for four years (since Q3 FY14/15) – US$14 billion, up 8.5% year-on-year (YOY) and 6th consecutive quarter of YOY revenue growth
  • All-time record high PTI of US$350 million – jumped 133% YOY
  • Recorded net income of US$233 million for the fiscal quarter, significantly improved from the net loss of US$289 million in the same quarter of last year
  • Major milestones hit across all businesses:
    • PC and Smart Devices business revenue record high at US$10.7 billion, up 11.6% YOY; continues as undisputed, global #1 in PCs with record 24.6% market share*
    • Mobile Business Group became profitable worldwide for the first time since the Motorola acquisition, with North American volume outgrowing the market by a staggering 40 points and China revenue quadrupling YOY
    • Data Center Group enjoyed continued hyper growth in Hyperscale and Software Defined Infrastructure, and increased its lead as #1 in the world’s TOP500 supercomputer rankings

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HONG KONG (BUSINESS WIRE) – Lenovo Group today announced results for its third fiscal quarter ended December 31, 2018. Lenovo posted its highest group revenue in four years of US$14 billion, up 8.5% YOY (12.8% YOY excluding currency impact). The company reported strong pre-tax income of US$350 million (up 133% / +US$200 million over the previous year) – an all-time record for the company as all businesses continued to report profit improvements.

The Group recorded a net profit of US$233 million for the fiscal quarter, significantly improved from the net loss of US$289 million in the same quarter of last year. Basic earnings per share in the third fiscal quarter was 1.96 US cents or 15.35 HK cents.

“When we set out on our journey of Intelligent Transformation, our goal was to restore and then accelerate Lenovo’s business momentum, while providing our customers and partners with the best technologies in smart IoT, smart infrastructure and smart vertical solutions. We’ve done exactly that and more – our strength and position as the industry’s most prolific global technology organization is firmly established. What I’m most pleased to see is how Lenovo is bucking the current industry trend – we’re strong, have delivered record-breaking results this quarter and are only getting stronger”, said Yang Yuanqing, Lenovo Chairman and CEO.

Business Group Overview:

The Intelligent Devices Group (IDG) posted record revenue and profit; powered by its third straight quarter since inception of revenue growth – up 6.2% YOY to US$12.4 billion.

  • During the quarter, the PC and Smart Devices (PCSD) business under IDG reported US$10.7 billion in revenue, up 11.6% YOY, and sequentially extending the Group’s momentum from the previous quarter. PC revenue grew 16% YOY, outperforming the market by more than 17 points with PTI margin also improving by 1 percentage point. Lenovo maintained its position as the world’s undisputed leader in PC sales with record market share of 24.6%. A focus on high-growth and premium segments saw Workstations, Thin and Light devices, and Visuals revenue outgrow the market by more than 30 points, Gaming by 16 points and Chromebook by over 220 points.
  • The Mobile Business Group (MBG) under IDG posted its first worldwide profit since the Motorola acquisition in October 2014. This notable achievement came from masterful execution on Lenovo’s strategy to reduce expenses, streamline the Group’s product portfolio and focus on core markets. Notably North America saw a breakthrough quarter for the Group with volumes outgrowing the market by a staggering 40 points. Additionally, MBG’s focus on other specific geographies is also showing significant results: Lenovo retains the #2 position in Latin America, despite currency fluctuations and supply constraints. In China, thanks to a range of new products under the Lenovo brand, the Group continued to build on the momentum quadrupling revenue and reporting strong growth in PTI margin.

Lenovo’s Data Center Group (DCG) reported its fifth consecutive quarter of profit growth (PTI margin up 3.6 percentage points YOY) on a 31% YOY increase in revenue to US$1.6 billion. In fact, DCG recorded YOY revenue growth in all geographies, highlighted by triple-digit growth in North America, and double-digit growth in Asia-Pacific, EMEA and Latin America. The NetApp joint venture, which is now operational in China, will further strengthen the portfolio and expand business opportunities. Hyperscale once again served as a significant contributor with triple-digit revenue growth and Software Defined Infrastructure (SDI) revenue grew almost 70% YOY. The Group not only remained #1 on the TOP500 list of supercomputers globally, but also increased its lead.

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HSBC reports net profit at $12.6 billion in 2018

Europe’s biggest bank has reported its net profit jumped 30% in 2018 from the previous year to $12.6 billion.

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Market corrections in late 2018 took a toll on HSBC and many other banks. Net profit in the October to December quarter was $1.5 billion.

By The Associated Press

Europe’s biggest bank has reported its net profit jumped 30% in 2018 from the previous year to $12.6 billion.

The London-based bank, whose profit is mainly from Asia, said its revenue rose 5 percent from a year earlier to $53.8 billion.

Pre-tax profit rose 16% to $19.9 billion, but lagged analysts’ estimates. For the fourth quarter, adjusted pre-tax profit was $3.4 billion, also below forecasts.

Market corrections in late 2018 took a toll on HSBC and many other banks. Net profit in the October to December quarter was $1.5 billion.

HSBC has been carrying out a corporate overhaul designed to boost profitability by focusing on its high-growth markets in Asia while shedding businesses and workers in other countries. Asia accounted for 89.5 percent of pre-tax profit in 2018.

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JK Tyres Q3 FY19 PAT beat estimates

JK Tyres reported an impressive set of results for the Q3 FY19. The numbers came in ahead of estimates.

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Revenue from operations rose to Rs.2,731 crore as compared to Rs.2,123 crore in the same period previous fiscal, JK Tyre & Industries said in a regulatory filing.

JK Tyre & Industries on Thursday posted over two-fold increase in its consolidated net profit. The consolidated revenue at Rs.2,731 cr grew sharply by 29% YoY and was ahead of our estimates. Demand traction in the aftermarket segment & price hikes lead to the strong topline growth.

The operating margins at 9.7% declined 30 bps YoY and was broadly in line with our estimates of 9.9%. The raw material for the quarter (RM/Sales) is up 300 bps YoY. Strong topline growth led to benefits of operating leverage, which largely offset the impact of the hardening raw material cost.

The EBITDA at Rs.265 cr is up 24.5% YoY and is ahead of our estimates.

The interest cost for the quarter at Rs.131 crore, is up 14% YoY. Tracking the strong operating performance, the adjusted PAT stood at Rs.47 crore, up 123% YoY and comfortably beating our estimates of Rs.42 crore.

JK tyres an exceptional expense amounting to Rs.20.45 cr (unfavorable foreign exchange fluctuation Rs.18.14 cr & VRS – Rs.2.31 cr). The Reported PAT stood at Rs.26.7 cr.

The board of directors have approved issue of equity shares to the promoter group upto an amount aggregating to Rs 200 crore. The issue is subject to required approvals. Other details including the issue price and date is awaited.

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Spicejet reports a 77% fall in Q3 net profit

SpiceJet Q3 profit dives 77% YoY to Rs.55 crore.

  • Net profit falls by 77% y-o-y to Rs.55 crore from Rs.240 crore.
  • Revenue rose by 20.2% y-o-y to Rs.2,487 crore from Rs.2,069 crore.
  • EBITDA fell by 62.7% y-o-y to Rs.113.2 crore from Rs.303.4.

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SpiceJet Q3 profit dives 77% YoY to Rs.55 crore.

Total income stood at Rs.2,530.8 crore as against Rs.2,096.1 crore in the same quarter last year.

SpiceJet reported a net profit of Rs.55.1 crore for the quarter ending December 31, 2018, defying the current market conditions, where other airlines are losing money.

The airline said that passenger yields increased by 8% that partially helped offset record high cost due to an increase of 34% in crude oil prices and 11% depreciation of the Indian Rupee against the US dollar. However, the airline’s profit during the quarter fell by 77% over the same period last fiscal, when the airline had registered profits of Rs 240 crore.

“The combined effect of these cost escalations was approximately Rs.329 crore. The Company also reversed some portion of its provisions on its FOREX obligations taken during the previous quarter for this financial year,” the airline said.

During the quarter, total income stood at Rs.2,530.8 crore as against Rs.2,096.1 crore in the same quarter last year. For the same comparative period, expenses were Rs.2,475.8 crore as against Rs.1,856.1 crore.

“Despite the huge cost escalation in ATF and exchange rate, SpiceJet has done remarkably well thanks to our superior revenue performance, tight control on other costs and the continued confidence our passengers have shown in the airline. With a strong improvement in the macro cost environment and the increasing induction of the fuel efficient MAX aircraft, the outlook looks stronger than it has over the past year,” SpiceJet CMD Ajay Singh was quoted in the media statement.

“With sector headwinds having subsided, we are bullish on our future prospects and will continue to invest aggressively in creating capacity in line with our forecasts. The new generation 737MAX aircraft with its cost efficiencies and increased revenue opportunities (due to superior payload performance) will become a substantial portion of our Boeing fleet further improving our margins. The increased seating capacity on the Bombardier Q400s will also result in improved margins,” the statement added.

SpiceJet has added 12 new planes – nine Boeing 737 MAX 8 aircraft and three Q400s – between October and December 2018 and now operates a fleet of 72 aircraft.

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Eicher Motors Q3 consolidated net profit rises by 2.4% y-o-y

Eicher Motors Q3 profit rises 2.4% to Rs.533 cr, margin below 30% for first time in last 11 quarters

  • Net profit rose by 2.4% y-o-y to Rs.533 crore from Rs.520.5 crore.
  • Revenue surged by 3.2% y-o-y to Rs.2,341 crore from Rs.2,264 crore.
  • EBITDA slipped by 3.9% y-o-y to Rs.679.5 crore from Rs.707.2 crore.

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Eicher Motors Q3 profit rises 2.4% to Rs.533 cr, margin below 30% for first time in last 11 quarters

At operating level, consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) declined for the first time in last eight years and margin fell below 30 percent for the first time since March quarter 2016.

Moneycontrol News

Royal Enfield maker Eicher Motors third quarter (October-December) consolidated profit grew by 2.4% year-on-year to Rs.533 crore with low revenue growth and weak operating income.

Profit in same quarter last year stood at Rs.530.9 crore.

Revenue from operations in Q3 increased 3.2% to Rs.2,341 crore year-on-year, but Royal Enfield sales volume declined 6 percent YoY against 3.6% rise in Q2.

The company sold 1.94 lakh units during the quarter ended December 2018.

At operating level, consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) declined for the first time in last eight years and margin fell below 30% for the first time since March quarter 2016.

EBITDA dipped 3.9% year-on-year to Rs.679.5 crore and margin contracted 220 bps to 29% in Q3FY19.

Numbers were ahead of CNBC-TV18 poll estimates which were at Rs.497 crore on profit and Rs.2,270 crore on revenue. EBITDA was estimated at Rs.665 crore and margin at 29.2% for the quarter.

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Gulf Oil Lubricants Q3 net profit rises by 17.2%

Gulf Oil Lubricants Dec 2018 Net Sales is at Rs.462.03 crore, up 29.8% Y-o-Y

  • Revenue up by 29.8% to Rs.462 crore yoy.
  • Net profit up by 17.2% to Rs.49.8 crore yoy.
  • Ebitda up 18.7% to Rs.73 crore yoy.
  • Margin at 15.8% versus 17.3%.
  • Declared dividend of Rs.4.5 per share.

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Financial Results (Q3FY18-19) – YoY Comparison

Net Sales at Rs.462.03 crore in December 2018 up 29.8% from Rs.355.95 crore in December 2017.

Quarterly Net Profit at Rs.49.79 crore in December 2018 up 17.19% from Rs.42.49 crore in December 2017.

EBITDA stands at Rs.80.34 crore in December 2018 up 16.74% from Rs.68.82 crore in December 2017.

Gulf Oil Lubric EPS has increased to Rs. 10.00 in December 2018 from Rs.8.54 in December 2017.

Gulf Oil Lubric shares closed at 872.35 on February 12, 2019 (NSE) and has given 0.81% returns over the last 6 months and -16.09% over the last 12 months.

Financials Q3 FY18-19 Q3 FY17-18 % Change
Total Income ₹ 462.03 crs ₹ 355.95 crs Up Tick 29.80%
Net Profit ₹ 49.79 crs ₹ 42.49 crs Up Tick 17.18%
EPS ₹ 10.00 crs ₹ 8.54 crs Up Tick 17.10%

Financial Results (Q3FY18-19) – QoQ Comparison

The company has reported net sales of Rs.462.03 crores during the period ended December 31, 2018 as compared to Rs.417.21 crores during the period ended September 30, 2018.

The company has posted net profit of Rs.49.79 crores for the period ended December 31, 2018 as against Rs.40.29 crores for the period ended September 30, 2018.

The company has reported EPS of Rs.10.00 for the period ended December 31, 2018 as compared to Rs.8.10 for the period ended September 30, 2018.

Particulares Q3 FY18-19 Q2 FY18-19 % Change
Total Income ₹ 462.03 crs ₹ 417.21 crs Up Tick 10.74%
Net Profit ₹ 49.79 crs ₹ 40.29 crs Up Tick 23.58%
EPS ₹ 10.00 crs ₹ 8.10 crs Up Tick 23.46%

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Japan Exchange Group, TOCOM to merge this year: sources

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Japan Exchange Group, TOCOM to merge this year: sources

TOKYO (Reuters) – Japan Exchange Group Inc (JPX), owner of Tokyo Stock Exchange, and the Tokyo Commodity Exchange Inc have decided to merge, two sources with direct knowledge of the talks said, as Japan pushes to create an all-in-one bourse.

Reporting by Takahiko Wada; Writing by Chang-Ran Kim; Editing by Stephen Coates

JPX will make a tender offer to buy all of the smaller bourse’s shares as early as the middle of this year, the people told Reuters on Friday, declining to be identified because the discussions are not public.

JPX and the commodity exchange, known as TOCOM, signed a non-disclosure agreement in October to start talks over possible integration and have said they aim to reach a basic agreement some time next month.

In response to similar media reports on Friday, JPX said in a statement an agreement had not been reached yet.

A combined JPX and TOCOM would create an integrated bourse that offers trades in stocks, derivatives and commodities futures.

JPX also owns Osaka Exchange Inc, which runs derivatives markets such as index futures and JGB futures. TOCOM lists products such as precious metals, oil and rubber.

The government has been pushing for the creation of an integrated exchange, a move it sees helping Japan to become more competitive among global financial hubs.

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Force Motors Q3 net profit rises by 86.6% y-o-y

Force Motors Q3 net profit rises by 86.6% y-o-y

  • Net profit up by 86.6% to Rs.27.3 crore from Rs.14.7 crore.
  • Other income at Rs.20.6 crore from Rs.9.7 crore.
  • Revenue up by 10.2% to Rs.826.1 crore from Rs.749.5 crore.
  • EBITDA up by 26.9% to Rs.57.7 crore from Rs.45.8 crore.
  • EBITDA margin at 7% Vs 6.1%.

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Financial Results (Q3FY18-19) – QoQ Comparison

The company has reported net sales of Rs.846.69 crores during the period ended December 31, 2018 as compared to Rs.895.36 crores during the period ended September 30, 2018.

The company has posted net profit of Rs.27.34 crores for the period ended December 31, 2018 as against Rs.39.69 crores for the period ended September 30, 2018.

The company has reported EPS of Rs.20.75 for the period ended December 31, 2018 as compared to Rs.30.12 for the period ended September 30, 2018.

Financials Q3 FY18-19 Q2 FY18-19 % Change
Total Income ₹ 846.69 crs ₹ 895.36 crs Down Tick -5.44%
Net Profit ₹ 27.34 crs ₹ 39.69 crs Down Tick -31.12%
EPS ₹ 20.75 ₹ 30.12 Down Tick -31.11%

Financial Results (Q3FY18-19) – YoY Comparison

The company has reported net sales of Rs.846.69 crores during the period ended December 31, 2018 as compared to Rs.759.21 crores during the period ended December 31, 2017.

The company has posted net profit of Rs.27.34 crores for the period ended December 31, 2018 as against Rs.14.65 crores for the period ended December 31, 2017.

The company has reported EPS of Rs.20.75 for the period ended December 31, 2018 as compared to Rs.11.12 for the period ended December 31, 2017.

Financials Q3 FY18-19 Q3 FY17-18 % Change
Total Income ₹ 846.69 crs ₹ 759.21 crs Up Tick 11.52%
Net Profit ₹ 27.34 crs ₹ 14.65 crs Up Tick 86.62%
EPS ₹ 20.75 ₹ 11.12 Up Tick 86.6%

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Sun Pharmaceutical beats Q3 net profit estimates

Q3 Results: Sun Pharmaceutical beats Q3 net profit estimates

  • Revenue up by 16.3% to Rs.7,740.2 crore.
  • Net profit at Rs. 1,241.9 crore.
  • Ebitda rose by 48.1% to Rs. 2,153 crore.
  • Margin at 27.8% versus 21.8%.

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Sun Pharma Q3 profit jumps fourfold to Rs.1,242 crore, beats Street estimates

ETMarkets.com

Sun Pharma on Tuesday reported nearly fourfold jump in profit at Rs.1,241.85 crore for December quarter, beating Rs.981 crore net estimated by analysts in an ET Now poll. The company had reported Rs.321.57 crore profit in the same quarter last year.

The year-ago numbers were impacted by Rs.513.02 crore exceptional taxes on account of re-measurement of the group’s deferred tax assets as a result of the Tax Cut and Jobs Act enacted in the US on Oct 22, 2017.

Sales for the quarter rose 1.16% YoY to Rs.7,656.71 crore from Rs.6,598.21 crore in the same quarter last year.

Ebitda for the quarter came in at Rs.2,151 crore, which beat ET Now poll estimate of Rs.1,615 crore. Ebitda margin at 28% also was better than 21.8% poll estimates.

Investors were keenly awaiting company’s conference call to get updates on specialty product pipeline and R&D spend. Besides, they were also looking for further clarity on the recent issues related to undisclosed loans and advances.

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Q3 FY19 Earning Highlights: TFM’s Report – Part 2

Q3 FY19 Earning Highlights: TFM’s Quick Finance Report – Part 2

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IDFC (Q3, YoY)
Net interest income down 33% to Rs. 8 crore.
Net profit to Rs. 26 crore versus Rs. 2 crore.

Andhra Bank Q3 net loss widens
Andhra Bank reported Q3 results for the quarter ended December 31, 2018: Net loss at Rs. 578.6 crore versus Rs. 532 crore (Y-o-y) Net interest income at Rs. 1,698.27 crore versus Rs. 1,672.21 crore (y-o-y) Andhra Bank, result, earnings

Corporation Bank post Q3 net profit at Rs. 60.5 crore
Corporation Bank reported Q3 results for the quarter ended December 31, 2018: Net Interest Income up by 3.1% to Rs. 1303 crore Net profit at Rs. 60.5 crore versus net Loss of Rs 1240.5 crore Provisions at Rs. 842.3 crore (QoQ) GNPA at 17.36% versus 17.46% (QoQ) NNPA at 11.47% versus 11.65% (QoQ)

Karur Vysya Bank reports Q3 numbers
Net profit slipped by 70.3% y-o-y to Rs. 21.2 crore from Rs. 71.5 crore
NII rose by 3.4% y-o-y to Rs. 580.8 crore from Rs. 561.6 crore

Sakthi Sugars Q3 net loss at Rs. 19 crore.
Net loss at Rs. 19 crore versus net loss of Rs. 42.2 crore y-o-y
Revenue rose by 24.8% to Rs. 105.2 crore from Rs. 84.3 crore

Oracle Financial Services Q3 net profit slips by 13.1%
Revenue down by 2.3% to Rs. 1,185.9 crore
Net profit down by 13.1% to Rs. 306 crore
Ebitda up by 0.2% to Rs. 499.6 crore

NBCC reported Q3 results for the Quarter ended December 31, 2018
Revenue up 29.3% to Rs.2,438.8 crore
Net profit up by 22.4% to Rs.83.6 crore
Ebitda down by 16.1% to Rs.70.8 crore
Margin at 2.9% versus 4.5%.
Other Expenses up 66 percent to Rs.34 crore.

Lemon Tree Hotels Q3 net profit surges by 38.9%
Revenue up by 8.3% to Rs.143.4 crore
Net profit rose by 38.9% to Rs.12.5 crore
Ebitda up by 14.7% to Rs.49.1 crore
Margin at 34.2% versus 32.3%

Fortis Healthcare Q3 net profit widens
Revenue down 1.6% to Rs.1103.3 crore.
Net loss to Rs.197.1 crore versus net loss to Rs.36.8 crore
Ebitda down by 26.4% to Rs.38 crore
Margin at 3.4% versus 4.6%

Gujarat Fluoro reports a good set of Q3 numbers
Net profit jumped by 96.9% y-o-y to Rs. 138 crore from Rs. 70 crore
Revenue rose by 53.8% y-o-y to Rs. 1,490 crore from Rs. 969 crore
EBITDA advanced by 94.2% y-o-y to Rs. 360.3 crore from Rs. 185.5 crore

Take Solutions Q3 net profit dips by 13.01% y-o-y
Net profit fell by 13.01% to Rs. 35.76 crore from Rs. 41.11 crore
Revenue surged by 27.84% to Rs. 521.64 crore from Rs. 408.02 crore

Greenlam Industries net profit surges by 14% y-o-y
Net profit rose by 14.1% to Rs. 20 crore from Rs. 17 crore
Revenue surged by 12% to Rs. 314 crore from Rs. 280.3 crore
EBITDA increased by 5.1% to Rs. 41.1 crore from Rs. 39.1 crore

Adani Gas reported Q3 result for the quarter ended December 31, 2018:
Net profit slipped by 6.8% q-o-q to Rs. 47 crore from Rs. 51 crore
Revenue rose by 8.1% q-o-q to Rs. 457.3 crore from Rs. 423.2 crore
EBITDA up by 1.3% q-o-q to Rs. 106.9 crore from Rs. 105.6 crore

Bosch Q3 net profit rises by 19.3% y-o-y
Net profit rose by 19.3% y-o-y to Rs. 335.4 crore from Rs. 281 crore
Revenue up by 0.8% y-o-y to Rs. 3,095.5 crore from Rs. 3,072 crore
EBITDA increased by 5.6% to Rs. 422.6 crore from Rs. 447.2 crore

Bharat Forge Q3 net profit at Rs. 309.8 crore
Net Profit at Rs. 309.8 crore
Revenue at Rs. 1,692.5 crore
EBITDA at Rs. 525.8 crore
EBITDA margin at 31.1%

CG Power Q3FY19 results revenues and margins broadly inline
CG Power reported 11.9% y-o-y growth in revenues for Q3FY2019 at Rs. 1720 crore which was marginally above our estimates led by 34% YoY revenue growth in the industrial segment.
Operating Margins were almost flat and expanded by 15 BPS y-o-y to 8.6% which was lower than our estimates led by higher input cost and lower other expenses. Operating profit were higher by 13.9% to Rs 148.5 crore
Adjusted Pat stood at Rs 47 crore for the quarter vs. Rs. 83 crore in Q3FY2018 which was lower by 43% Y-o-Y. Net loss of Rs 150 crore vs. net loss of Rs 28 crore considering the discontinued operation
Exceptional loss of Rs 116 crore due to foreign exchange loss and write off of debtors (Rs 108 crore)
Losses from discontinued operation stood at Rs 81 crore vs. Rs 109 crore in Q3FY18.

Natco Q3FY2019 performance in line with expectation
Sales for the quarter reported marginal decline of 0.9% to Rs 556.7 crore.
Operating profit declined by 27.3% to Rs 208.4 crore, OPM stood at 37.4% (58 BPS fall)
Adjusted PAT de-grew by 26.5% to Rs 159.5 crore.
The decline in profits during the quarter (as expected) compared to last year was predominantly due to margin reduction of gTamiflu in the USA market.
Board has recommended an interim dividend of INR 3.50 per equity share of INR 2/-each.

Sadbhav Infrastructure reports weak Q3FY2019 result
Sadbhav Infrastructure Project reported adjusted net loss of Rs. 82 crore (adjusting for Rs. 53 crore net claim amount recognized) in Q3FY2019 as against net loss of Rs. 75 crore in Q3FY2018 and net loss of Rs. 68 crore in Q2FY2019.
The net revenue grew healthy at 74% y-o-y (up 12.5% q-o-q) to Rs. 955 crore.
However, higher contribution from revenue from construction contracts led to lower operating margins (30.8% Vs 49.6% in Q3FY2018 and 36.6% in Q2FY2019) which led to increase in adjusted net loss for the quarter.

Bata India Q3FY19 net profit rises by 51% y-o-y
For Q3FY2019, Bata reported revenue growth of 15.5% to Rs. 778.7 crore, in line with our estimation of Rs. 768.4 crore boasted by festive season & revenue mix. We believe the same store sales growth stood at 12% (and 8% in 9MFY19).
Gross margins increased by 350bps y-o-y at 58.6%, highest since past many quarters. Better product mix and muted input cost has led to this strong gross margin expansion.
In line with robust gross margin performance, OPM expanded by 447bps y-o-y at 21% (also highest since past many quarters). This was also due to dip in rental cost as a percentage to sales by ~80bps y-o-y. Operating profit came in at Rs. 163.6 crore, up by 46.8% y-o-y.
Strong operational performance led PAT to grow by 51.3% y-o-y to Rs. 103.2 crore, ahead of our expectation of Rs. 84.1 crore.
Bata has reported yet another strong quarter on the back of addition of multiple new red-concept stores, renovation of existing stores and refreshed products across categories.

Indian Hotels Q3FY19 revenue surges by 10.5% y-o-y
Indian Hotels Q3FY19 revenues grew by 10.5% yoy to Rs. 1,325.3 crore largely in-line with our expectation for the quarter. The double digit growth is attributable to steady improvement in occupancies and higher ARRs both in domestic and international properties (US and London properties registered strong performance during the quarter). The standalone revenues grew by 6% (on a high base) largely on account of 200+BPS improvement in occupancy rate and about 4% increase in ARRs.
As anticipated OPM improved by 192BPS to 25.4% and the operating profit grew by ~20% to Rs 335.5 crore
This along with lower interest cost the adjusted PAT (before exceptional item and share of profit from associates) grew by 77.2% to Rs. 132.1 crore.
Indian Hotels Q3FY19 was much better than some of the earlier quarters on back of higher room sales due to season and operating efficiencies.

Ipca Labs posts good Q3 numbers
Net profit rose by 51.7% y-o-y to Rs. 160.2 crore from Rs. 105.6 crore
Revenue surged by 10.2% y-o-y to Rs. 947.6 crore from Rs. 859.6 crore
EBITDA advanced by 43.4% y-o-y to Rs. 231.7 crore from Rs. 161.7 crore

HEG reports healthy Q3 against low base during the same quarter last year
Net profit jumped by 154% to Rs. 867 crore from Rs. 342 crore
Revenue rose by 121% to Rs. 1,865 crore from Rs. 843 crore
EBITDA surged by 136% to Rs. 1,313.5 crore from Rs. 557.5 crore

GNFC Q3 net profit dips by 27.3% y-o-y
Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) reported Q3 result for the quarter ended December 31, 2018: Net profit slipped by 27.3% to Rs. 165.7 crore Revenue down by 23.4% to Rs, 1219.2 crore Ebitda down 81.3% to Rs. 80 crore Margin at 6.6% versus 26.9% Gujarat Narmada Valley Fertilizers and Chemicals, GNFC, result, earnings

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Q3 FY19 Earning Highlights: TFM’s Report – Part 1

Q3 FY19 Earning Highlights: TFM’s Report – Part 1

Q3 FY19 Earning Highlights: TFM’s Quick Finance Report – Part 1

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1. Suprajit Eng Consolidated Dec 2018 Net Sales at Rs 405.62 crore, up 10.74% Y-o-Y

2. Motherson Sumi Dec 2018 Net Sales at Rs 16,472.98 crore, up 14.41% Y-o-Y

3. India Cements Standalone Dec 2018 Net Sales at Rs 1,316.30 crore, up 8.51% Y-o-Y

4. Allcargo Consolidated Dec 2018 Net Sales at Rs 1,802.73 crore, up 21.81% Y-o-Y

5. Lumax Auto Tech Consolidated Dec 2018 Net Sales at Rs 320.01 crore, up 15.44% Y-o-Y

6. Mirza Intl Consolidated Dec 2018 Net Sales at Rs 307.12 crore, up 20.94% Y-o-Y

7. Zuari Agro Chem Dec 2018 Net Sales at Rs 1,653.22 crore, down 21.19% Y-o-Y

8. Bilcare Consolidated Dec 2018 Net Sales at Rs 726.03 crore, up 2.85% Y-o-Y

9. Sonata Consolidated Dec 2018 Net Sales at Rs 843.96 crore, up 10.07% Y-o-Y

10. KRBL Consolidated Dec 2018 Net Sales at Rs 935.80 crore, up 19.44% Y-o-Y

11. Sterling Green Consolidated Dec 2018 Net Sales at Rs 1.09 crore, up 149.47% Y-o-Y

12. Transwarranty Consolidated Dec 2018 Net Sales at Rs 4.25 crore, up 84.26% Y-o-Y

13. PFC Q3 net profit rises by 53.2% y-o-y
Net profit rose by 53.2% q-o-q to Rs.2,076 crore from Rs.1,355 crore.
Revenue surged by 17.9% q-o-q to Rs.7,362 crore from Rs.6,246 crore.

14. Max Financial Services Q3 net profit rises by 40.7% y-o-y
Net profit surged by 40.7% y-o-y to Rs. 140 crore from Rs. 99.4 crore.
Revenue rose by 34.3% y-o-y to Rs. 176.4 crore from Rs. 131.3 crore.

15. BPCL (Q3, YoY)
Revenue up 9.5% to Rs. 79,168.9 crore.
Net profit down by 59.4% to Rs. 495.1 crore.
Ebitda down by 69.5% to Rs. 737.3 crore.
Declared interim dividend of Rs. 11 per share.

16. NALCO (Q3, YoY)
Revenue up 13.81% to Rs.2,719 crore.
Net profit down by 58.2% to Rs.301.8 crore.
Ebitda up by 49.2% to Rs.513.1 crore.
Margin at 18.9% versus 14.4%.

17. Thermax (Q3, YoY)
Revenue up 28.6% to Rs. 1,436.6 crore.
Net profit up by 28% to Rs. 75 crore.
Ebitda up by 12.2% to Rs. 107.3 crore.

18. JK Lakshmi Cement (Q3, YoY)
Revenue up 11.7% to Rs. 935 crore.
Net profit up 72.1% to Rs. 14.8 crore.
Ebitda up 4.2% to Rs. 98.3 crore.

19. NHPC (Q3, YoY)
Revenue up by 4.9% to Rs. 1,571.4 crore.
Net profit down by 73.5% to Rs. 182.2 crore.
Ebitda down by 24.1% to Rs. 595.9 crore.
Margin at 37.9% versus 52.4%.

20. Avanti Feeds (Q3, YoY)
Revenue up 18.2% to Rs. 835.3 crore.
Net profit down 26.7% to Rs. 73.6 crore.
Ebitda down 28.6% to Rs. 109.6 crore.

21. SKF India (Q3, YoY)
Revenue up 9.6% to Rs. 767.7 crore.
Net profit up by 2.7% to Rs. 88.5 crore.
Ebitda down by 1.1% to Rs. 121.7 crore.

22. Finolex Industries (Q3, YoY)
Revenue up 5% to Rs. 757 crore
Net profit up 14% to Rs. 79 crore.
Ebitda up 10.5% to Rs. 126 crore.
Margin at 16.6% versus 15.8%.

23. Triveni Turbine Q3 net profit at Rs. 22.8 crore
Triveni Turbine (Q3, YoY) Revenue up by 27.6% to Rs. 211.3 crore Net profit rose by 17.5% to Rs. 22.8 crore

24. PI Industries Q3 net profit rises by 33.1% y-o-y
PI Industries reported Q3 results for the quarter ended December 31, 2018: Net profit up by 33.1% to Rs. 107.3 crore Revenue up by 31.6% to Rs. 707.5 crore Ebitda up by 41.9% to Rs. 148.6 crore Margin at 21% versus 19.5%

25. TCI Express Q3 net profit surges 21% to Rs 19 crore
The company had posted Rs 15.43 crore net profit during the year-ago period, TCI Express said in a BSE filing.

26. Skipper Net Q3 slips 78% over execution challenges
The net profit during the corresponding period of the previous fiscal was at Rs 29.2 crore.

27. HAL’s Q3 net profit declines 17% to Rs.455 crore
In a filing on the exchanges, HAL said a fraud involving misappropriation of funds by a company official in collusion with six contractors has been noticed by the management and referred to the vigilance department for further investigations.

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Q3 FY19 Earning Highlights: TFM’s Report – Part 2

Tata Steel Q3 profit jumps 54% YoY to Rs 1,753 crore, misses Street estimates

Q3 Results: Tata Steel’s Profit Surges As Acquisitions Start Paying Off

  • Revenue rose 23.2 percent to Rs.41,220 crore.
  • Operating profit increased 18 percent to Rs.6,723.4 crore.
  • Margin narrowed 70 basis points to 16.3 percent.

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Economictimes: Tata Steel Q3 profit jumps 54% YoY to Rs.1,753 crore, misses Street estimates

Consolidated revenue for December quarter jumped 23 per cent YoY to Rs.41,220 crore.

Tata Steel on Friday reported 54.31 per cent year-on-year (YoY) rise in profit at Rs.1,753 crore for December quarter, which fell short of Rs.2,289 crore net estimated by analysts in an ET Now poll.

The company had posted Rs.1,136 crore profit in the similar period last year.

Consolidated revenue for the quarter jumped 23 per cent YoY to Rs.41,220 crore, with India sales rising 41 per cent to Rs.22,063 crore, the company said in a regulatory filing.

Consolidated adjusted Ebitda rose 27 per cent to Rs.7,225 crore compared with Rs.5,671 crore in the corresponding quarter last year.

The liquidity position of the group remained robust at Rs.19,320 crore comprising of Rs.8,549 crore in cash and cash equivalents and Rs.10,771 crore in undrawn bank lines, the company added.

Commenting on the results, CEO & Managing Director TV Narendran said: “Despite a sharp drop in international steel prices, we were able to maintain our overall realisations and increase our volumes significantly in India. The integration of Tata Steel BSL continues and our 5 MTPA expansion at Kalinganagar is also making good progress. We are also looking forward to enhancing our long products and downstream capability through the acquisition of the 1 mtpa steel business of Usha Martin.”

In line with our strategy of divesting non-core assets and focusing on India, we have announced a divestment of a 70% stake in our SEA business and we continue to work on exploring similar opportunities across our portfolio, he added

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Check out these 4 picks for short term, Nifty could see a pre-election rally towards 11,380-11,500;

MoneyControl: Check out these 4 picks for short term; Nifty could see a pre-election rally towards 11,380-11,500.

Nifty could remain in 10,830-11,119 range for a few days and then gradually move forward to scale new highs. In such a case, we could see a pre-election rally towards 11,380 and 11,500.

By Manali Bhatia

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Bulls went through a rough time in the last two trading sessions of the week after an initial rally.

We have witnessed 10 weeks breakout on the back of positive Interim Budget but market failed to hold on to the initial strength and register a gain of 0.45 percent only on weekly basis with Nifty50 closing below 11,000 mark at 10,943.60.

In the coming week, for maintaining the upside momentum Nifty 50 needs to hold 10,830 level.

Nifty has formed the Doji candlestick pattern on daily chart at 61.8 percent retracement level of September-October fall (from 11,760.2 to 10,004.55) which was followed by large red candle. The pattern suggests that next few days are going to be quite difficult for traders.

Though there is indecisive candlestick pattern at important levels but the fact cannot be ignored that we witnessed a range breakout last week.

Technical setup suggesting that two scenario could emerge in coming days and traders need to be flexible enough to deal with it.

1) If 10,830 trades on lower side then we can expect the market to go back again in a range of 11,000-10,590 and the current breakout will be considered as false.

2) Nifty could remain in range of 10,830 and 11,119 for few days and then gradually move forward to make new highs, in such case we could see a pre-election rally towards 11,380 and 11,500.

On option front also, indecisiveness is creeping in among traders as 11,000 Call and Put option both holds significant open interest. Immediate support for the week exists at 10,880 and 10,830 and until 10,830 holds bullish bias is likely to intact.

NTPC: Sell | CMP: Rs.131.55 | Target: Rs.124 | Stop Loss: Rs.136 | Return: 6%

Stock has been in a prolonged downtrend and recently made new 52-week low.

Momentum indicators on monthly chart indicating fresh weakness and trading below all major moving averages. On weekly chart, there is bullish reversal failure pattern and such scenario is indicating that bears still have upper hand.

On daily chart, the stock has formed rounding top kind of a pattern and now breaking out of it. Price is tagging the lower Bollinger band. Thus selling positions can be initiated with the short term perspective.

NIIT Technologies: Buy | CMP: Rs.1,309.15 | Target: Rs.1,440 | Stop Loss: Rs.1,240 | Return: 10%

After an initial upmove stock went sideways and a fresh round of buying is expected in days to come. Monthly RSI is suggesting a reversal after retracement and any dips in stock are likely to be bought into.

Weekly momentum indicators have started trading in positive zone and prices are tagging the upper bollinger bands. On daily time frame stock is trading above all major moving averages. Stock can be bought at CMP and on any dip till Rs 1,260 for short term gain.

Kotak Mahindra Bank: Buy | CMP: Rs.1,299.4 | Target: Rs.1,405 | Stop Loss: Rs.1,255 | Return: 8%

Stock is forming higher tops and higher bottoms for the past few weeks and recently formed bullish candle after a phase of consolidation near 20-week moving average. Setup is suggesting that fresh leg of rally is likely to begin.

Daily RSI is trading in a positive zone and MACD also trading in positive territory and recently witnessed positive crossover. Long positions can be initiated in the counter for short term gain.

Maruti Suzuki: Sell | CMP: Rs.7,157.05 | Target: Rs.6,800 | Stop Loss: Rs.7,350 | Return: 5%

After a sharp sell-off, the recent upmove is facing resistance at 20-week moving average on weekly chart and momentum indicators in all time frame is favoring the bears.

On daily time frame, stock has formed a negative candlestick pattern at 50-Day Exponential Moving average. Apart from this, RSI has reversed from important resistance zone and formed a reversal pattern and hence decent opportunity on downside is available in the stock for the short term gain.

The author is Senior Research Analyst at Rudra Shares & Stock Brokers Ltd.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Disclosure: Rudra or its research analysts, or his/her relative or associate do not have any direct or indirect financial interest nor any other material conflict of interest at time of stock recommendation, in the subject company. Also, Rudra or its research analysts, or his/her relative or associates does not have actual/beneficial ownership of one per cent or more securities of the subject company. Rudra or its associates have not received any compensation or other benefits from the subject company or third party in the past twelve months. The research analyst has not served as an officer, director or employee of the subject company, neither Rudra nor its research analyst has been engaged in market making activity for the subject company. However, Rudra or its research analysts, or his/her relative or associate may have positions In Futures & Options.

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