Tech Mahindra in focus after Q2 earnings

On a consolidated basis, Tech Mahindra's net profit rose 14.1% to Rs 720 crore on 7.2% increase in revenue to Rs 5488 crore in Q2 September 2014 over Q1 June 2014. Operating profit jumped 18.2% to Rs 1097 crore in Q2 September 2014 over Q1 June 2014. The result was announced after market hours yesterday, 29 October 2014.

Dish TV India reported a net loss of Rs 15.07 crore in Q2 September 2014, higher than net loss of Rs 8.53 crore in Q2 September 2013. Total income rose 10.84% to Rs 689.36 crore in Q2 September 2014 over Q2 September 2013.

The life of the Consumer Premises Equipment (CPE) for the purposes of depreciation has been estimated by the management as five years, which as per the management, best represents the period of expected use, and is different from the life indicated by the Schedule II of the Companies Act, 2013. Upto 31 March 2012, in certain cases, the onetime advance contribution towards the CPEs in the form of rental was being recognized over a period of three years from the activation date.

However, such practice, with effect from 1 April 2012, was changed to five years in respect of CPEs activated on or after 1 April 2012. During the year ended 31 March 2014, the company amended its policy in respect of CPEs activated upto March 31, 2012 also in order to align the same with the CPEs installed thereafter. During the year ended 31 March 2014, the correction in the policy had resulted in reversal of excess revenue of Rs 129.30 crore and excess provisions of license fee of Rs 12.93 crore recognised upto 31 March 2013. This also resulted in revenue for the year ended 31 March 2014 being higher by Rs 37.02 crore and license fee being higher by Rs 3.70 crore. The above correction had resulted into the net loss for the year and for the quarter ended 31 March 2014 being higher by Rs 83.05 crore. Since the correction was carried out during the quarter ended 31 March 2014, the figures for the quarter and six months period ended 30 September 2014 are not restated and are not comparable.

Among prominent earnings, ACC, Ambuja Cements, Andhra Bank, Bharti Airtel, Castrol India, Ceat, Glenmark Pharmaceuticals, ICICI Bank, IDFC, Indian Overseas Bank, Jubilant Food Works, Maruti Suzuki India, NHPC, and Shriram City Union Finance will announce their July-September 2014 earnings today, 30 October 2014.

Realty stocks will be in focus after Union Cabinet yesterday, 29 October 2014, gave its approval for amending the existing Foreign Direct Investment (FDI) policy on the 'Construction Development Sector' in line with the Budget announcement of the Government.

On a consolidated basis, Emami's net profit rose 16.01% to Rs 92.76 crore on 18.59% increase in total income to Rs 501.83 crore in Q2 September 2014 over Q2 September 2013.

Container Corporation of India's net profit declined 20.93% to Rs 191.88 crore on 8.58% growth in total income to Rs 1446.83 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 29 October 2014.

Excel Crop Care's net profit rose 23.06% to Rs 28.60 crore on 9.93% growth in total income to Rs 299.89 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 29 October 2014.

Raymond's consolidated net profit declined 26.18% to Rs 68.12 crore on 18.51% growth in total income to Rs 1471.50 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 29 October 2014.

State Bank of Bikaner & Jaipur's net profit declined 23.24% to Rs 118.64 crore on 14.12% growth in total income to Rs 2410.69 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 29 October 2014.

State Bank of Travancore's net profit declined 65.34% to Rs 19.18 crore on 1.66% growth in total income to Rs 2608.90 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 29 October 2014.

MphasiS' consolidated net profit fell 8.34% to Rs 160.20 crore on 1.69% decline in net sales to Rs 1464.87 crore in the quarter ended 30 September 2014 over the quarter ended 30 June 2014. The result was announced before market hours today, 30 October 2014.

Zuari Agro Chemicals reported a net profit of Rs 21.95 crore in Q2 September 2014 compared with net loss of Rs 39.80 crore in Q2 September 2013. Total income from operations rose 7.86% to Rs 1535.49 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 29 October 2014.

Bajaj Corp turns ex-dividend today, 30 October 2014, for an interim dividend of Rs 11.50 per share for the year ending March 2015.

Kewal Kiran Clothing turns ex-dividend today, 30 October 2014, for an interim dividend of Rs 7.50 per share for the year ending March 2015.

Info Edge (India) turns ex-dividend today, 30 October 2014, for an interim dividend of Re 1 per share for the year ending March 2015.

RS Software (India) turns ex-dividend today, 30 October 2014, for an interim dividend of Rs 1.50 per share for the year ending March 2015.

Sagar Cements turns ex-dividend today, 30 October 2014, for an interim dividend of Rs 5 per share for the year ending March 2015.

Singer India turns ex-dividend today, 30 October 2014, for dividend of Rs 1.50 per share for the financial year ended 30 June 2014.

Shriram Transport Finance Company turns ex-dividend today, 30 October 2014, for an interim dividend of Rs 4 per share for the year ending March 2015.

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