TCS' consolidated net profit as per International Financial Reporting Standards (IFRS) fell 0.4% to Rs 6317 crore on 3% rise in revenue to Rs 29305 crore in Q1 June 2016 over Q4 March 2016. Operating income fell 0.9% to Rs 7347 crore in Q1 June 2016 over Q4 March 2016. The result was announced after market hours yesterday, 14 July 2016.
Commenting on the Q1 performance, N Chandrasekaran, CEO and MD, TCS, said that strong execution and accelerating customer adoption of cloud, big data & analytics has driven broad-based growth across key markets and industries. The company's investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge, he added.
Rajesh Gopinathan, Chief Financial Officer, TCS, said this has been a quarter of good financial performance balancing revenue growth, profitability and cash generation. The company's disciplined approach to operations have helped counter strong headwinds in the form of annual salary hikes and promotions as well as global currency and market volatility through the quarter. The company continues to invest in people, platforms and products as it looks to strengthen competitive position across key markets, he added.
TCS declared an interim dividend of Rs 6.50 per share for the year ending 31 March 2017 (FY 2017).
Among prominent earnings, software major Infosys is scheduled to announce its Q1 June 2016 results at around 9:15 IST today, 15 July 2016. Reliance Industries (RIL) will announce its Q1 June 2016 earnings today, 15 July 2016.
Steel Strips Wheels, NIIT Technologies, Mastek, and LIC Housing Finance among others will announce their quarterly results today, 15 July 2016.
HDFC announced after market hours yesterday, 14 July 2016 that it has successfully priced its first overseas issue of unrated rupee denominated bonds yesterday, 14 July 2016. The company is the first Indian corporate issuer of rupee denominated bonds overseas pursuant to applicable Reserve Bank of India guidelines. The Rs 3000 crore issue of unsecured rupee denominated bonds bears a fixed semi-annual coupon of 7.875% per annum and has a tenor of 3 years and 1 month. The bonds have been issued at a price of 99.24% of the par value and will be redeemed at par. The all-in annualised yield to the investors is 8.33% per annum. This is a rupee based transaction and there is no foreign exchange exposure for HDFC. The bonds will be listed on the London Stock Exchange and cannot be traded in the local Indian market. The issue proceeds would be used for the housing finance business of HDFC as well as for general corporate purposes.
Rupee denominated bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.
Meanwhile, shares of HDFC turn ex-dividend today, 15 July 2016 for final dividend of Rs 14 per share for the year ended 31 March 2016 (FY 2016).
Hero MotoCorp (HMCL) after market hours yesterday, 14 July 2016, announced the launch of the new Splendor iSmart 110, the first motorcycle to be developed completely in-house, with HMCL's own technology. Built on a completely new chassis and frame, the bike is powered by the new 110cc Torque on Demand engine that also features HMCL's patented i3S technology, the company said. The bike is now available at the Hero dealerships across India. The bike is priced at Rs 53,300 ex-showroom Delhi.
Berger Paints India turns ex-bonus today, 15 July 2016 for the bonus issue of 2 shares for every 5 shares held.
GlaxoSmithkline Pharmaceuticals turns ex-dividend today, 15 July 2016 for dividend of Rs 50 per share for the year ended 31 March 2016 (FY 2016).
Ingersoll-Rand India turns ex-dividend today, 15 July 2016 for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016).
Orient Cement turns ex-dividend today, 15 July 2016 for final dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).
Tata Elxsi turns ex-dividend today, 15 July 2016 for dividend of Rs 14 per share for the year ended 31 March 2016 (FY 2016).
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