indiabull
08-02-2008, 07:31 AM
Granules net profit in Q2FY08 (the company follows a June-year ending) was drastically hit by the rupee appreciation. However, top line registered a marginal growth rate of 5% to Rs 52.94 crore. Bottom line slipped 25% to Rs 2.28 crore (more than our expectations) on account of a 246 bps y-o-y decline in EBIDTA margin to 14.11%.
PTC India result for Q3FY08 was below expectations. During the quarter under review, revenues from operations declined 9.12% y-o-y to Rs 733.79 crore. Traded power units were down 9% to 2009 million units due to lower volumes from the Tala Hydroelectric Power Plant in Bhutan as well as a fall in surplus volumes from the Himachal Pradesh State Electricity Board.
Wipro results for the Q3FY08 were lower than our estimated 13.5% q-o-q growth with the global IT and products business recording an 11.4% q-o-q growth in rupee terms to Rs 3597 crore. Consolidated profit after tax was also lower than our estimates on account of lower than expected margins for Infocrossing (7.2% as compared to our estimates of 12%).
JK Cement net sales during Q3FY08 increased 22.24% to Rs 391.8 crore against Rs 320.5 crore in the corresponding quarter the previous year. PBIDT increased 31.51% to Rs 118.1 crore against Rs 89.8 crore in Q3FY07. Grey cement volumes were up 4.16% from 0.96 million tonnes in Q3FY07 to 1 million tonnes in Q3FY08.
Cinemax India results were below our expectations. Rollout delays and with lower occupancy levels (32%) resulted in a flat top line growth of only 4.9% q-o-q to Rs 27.6 crore. EBIDTA margins also declined 631 bps, impacted by higher entertainment taxes at the new properties, higher employee cost due to yearly bonus, and higher-than-expected lease rentals.
ACC sales for the quarter ended Dec 31, 2007 (Q4CY07) increased 10.8% to Rs 1763.73 crore against Rs 1592.33 in the corresponding quarter the previous year. The improvement was on account higher sales volumes and improved realizations.
PTC India result for Q3FY08 was below expectations. During the quarter under review, revenues from operations declined 9.12% y-o-y to Rs 733.79 crore. Traded power units were down 9% to 2009 million units due to lower volumes from the Tala Hydroelectric Power Plant in Bhutan as well as a fall in surplus volumes from the Himachal Pradesh State Electricity Board.
Wipro results for the Q3FY08 were lower than our estimated 13.5% q-o-q growth with the global IT and products business recording an 11.4% q-o-q growth in rupee terms to Rs 3597 crore. Consolidated profit after tax was also lower than our estimates on account of lower than expected margins for Infocrossing (7.2% as compared to our estimates of 12%).
JK Cement net sales during Q3FY08 increased 22.24% to Rs 391.8 crore against Rs 320.5 crore in the corresponding quarter the previous year. PBIDT increased 31.51% to Rs 118.1 crore against Rs 89.8 crore in Q3FY07. Grey cement volumes were up 4.16% from 0.96 million tonnes in Q3FY07 to 1 million tonnes in Q3FY08.
Cinemax India results were below our expectations. Rollout delays and with lower occupancy levels (32%) resulted in a flat top line growth of only 4.9% q-o-q to Rs 27.6 crore. EBIDTA margins also declined 631 bps, impacted by higher entertainment taxes at the new properties, higher employee cost due to yearly bonus, and higher-than-expected lease rentals.
ACC sales for the quarter ended Dec 31, 2007 (Q4CY07) increased 10.8% to Rs 1763.73 crore against Rs 1592.33 in the corresponding quarter the previous year. The improvement was on account higher sales volumes and improved realizations.