RIL's net profit for October-December 2019 increased by 13.5 per cent to Rs 11,640 crore, beating street estimates
Company misses revenue estimates, margin sees improvement
The company had registered a net profit of Rs 2,605 crore in the year-ago period as per Indian Accounting Standards
Net interest income, however, is likely to grow between 11 and 16 % YoY to Rs 14,409.5 crore, up from Rs 12,576.8 crore reported in the same quarter last year, and Rs 13,515 crore in Q2FY20
The IT services company has seen some improvement in its revenue growth in the last few quarters but, as per analysts, it continues to lag peers on a relative basis.
The company saw revenue dip by 2.5 % to Rs 13,423 crore as income from customers in the US rose marginally
Sees December quarter revenues from IT services to be in range of $2.01 bn-$2.05 bn
Wipro will announce its Q2 results on Tuesday
However, revenue from operations rose 2% to Rs 136.69 bn as against Rs 134.23 bn in September 2017
IT services revenue grew 0.9% on reported dollar basis to $1.97 billion over the March 2017 quarter
Gross revenue was Rs 139.8 billion ($2.0 billion), up 1.5 per cent sequentially and 2.6 per cent compared to the year ago period
The stock was the biggest gainer on both the key benchmark indices during the day
Commentary on recovery in top clients, outlook on spending in manufacturing and BFSI segments and guidance for the March quarter will some of the key things to watch
Some key things to watch out for are the firm's outlook on client budgets and spends for 2020, outlook on a challenged US/Europe capital market/banking segment and select retail performance
The provision coverage ratio of the bank has improved to 50.37% from 41.17% a year ago
Its consolidated revenue stood at Rs 1,203 crore during December quarter as against Rs 1,335 crore in the corresponding quarter of 2018-19
During the quarter, operating margin of the L&T Group company improved 70 basis points to 16.2 per cent, owing to favourable cross-currency movement
The consolidated total expenses increased to Rs 2,375.5 crore during the quarter
The US is Indian pharma's largest export market and Indian drugmakers account for a little over 30 per cent of generic drugs sold in that country
The Bengaluru-headquartered company's revenues grew around 10 per cent to Rs 1,965 crore for the quarter ended December