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| 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%. |
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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. |
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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%). |
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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. |
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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. |
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| 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. |
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