Indian shares ended higher for a
fifth straight session on Wednesday, with gains across most verticals, as investor sentiment was buoyed by a slew of upbeat quarterly results ahead of the Reserve Bank of India policy meet outcome which concludes on Thursday.
The benchmark BSE Sensex closed up 0.98 percent at 36,975.23 while the broader NSE Nifty ended 1.17 percent higher at 11,062.45.
Both the indexes recorded their best close since September.
Lupin, CIPLA, CIPLA, Siemens, Siemens, Allahabad Bank, Muthoot Finance and Graphite India have announced their results on Wednesday.
Lupin – Miss
Shares of the company settled at Rs 841.95 apiece, up 0.56 percent from the previous close, on BSE.
The drug major posted a loss of Rs 151.75 crore for December quarter 2018, on account of one-time provisioning of Rs 342.22 crore related to a litigation over blood pressure lowering drug Perindopril in Europe. The Mumbai-based firm had posted a net profit of Rs 221.73 crore in the October-December period of previous fiscal.
Income from operations rose to Rs 4,377.94 crore in the period under review as compared with Rs 3,900.36 crore in the year-ago quarter.
The company's net profit before exceptional items for the third quarter stood at Rs 190.5 crore.
Lupin said its North America sales for third quarter stood at Rs 1,417.4 crore as compared with Rs 1,432.1 crore during the same period of previous fiscal.
In India, the company's formulation sales increased 11.4 percent to Rs 1,190.2 crore as compared with Rs 1,068.8 crore in the October-December period of 2017-18.
Cipla – Miss
Shares of Cipla settled at Rs 527.95 per scrip on the BSE, up 3.75 percent from the previous close.
The company on Wednesday reported a 20 percent dip in consolidated net profit to Rs 322.24 crore for the December 2018 quarter, mainly on account of higher tax expenses. The company had posted a net profit of Rs 403.45 crore for the corresponding period of the previous fiscal.
Consolidated total revenue from operations of the company stood at Rs 4,007.54 crore for the quarter, compared with Rs 3,913.82 crore for the same period year ago.
The drug major had guided a muted second half in Q2due to headwinds such as inflation and tender business.
The company's revenue stood at Rs 4,007.5 crore for the quarter under, up 2.4 percent.
Cipla's domestic business declined 2 percent to Rs 1,604 crore, while US sales up 18 percent to $118 million in the October-December quarter.
Adani Port – HIT
Shares of Cipla settled at Rs 329.00 per scrip on the BSE, down 3.09 percent from the previous close.
India's largest port developer and logistics arm of the Adani Group, reported a 41.75 percent surge in its consolidated net profit to Rs 1,418.93 crore for the quarter ended December 31, 2018. had clocked a consolidated net profit of Rs 1,001 crore for the third quarter in the last fiscal.
The total income of the company grew to Rs 3,168.88 crore during the quarter under review as against Rs 2,924.85 crore a year-ago.
Its consolidated total expenses increased to Rs 1,347.97 crore in the October-December quarter as against Rs 1,330.86 crore in the year-ago period.
Ports across all regions reported strong growth, the company said, adding while Mundra the flagship port grew by 6 percent, Hazira and Dahej grew by 15 percent and 20 percent respectively. The Eastern port of Dhamra registered a growth of 9 percent.
Siemens – HIT
Shares of the company settled at Rs 1,019.00 per scrip on the NSE, up 2.45 percent from the previous close.
Siemens reported a 19.7 percent year-on-year rise in its net profit at Rs 228 crore for the quarter ended December 2018, mainly due to higher revenues. The company's net profit for the quarter ended December 2017 stood at Rs 190.5 crore.
The leading electrical and automation solution provider follows October to September financial year format.
Siemens' total income increased to Rs 2,894.8 crore in the October-December quarter from Rs 2,500 crore in the year-ago period.
While new orders of the base business (less than Rs 100 crore) grew by 16 per cent in the quarter, the overall new orders grew by 4.1 per cent to Rs 3,391 crore, compared to Rs 3,257 crore in the year-ago period, it said.
JSW Steel – HIT
Shares of the company Wednesday ended 2.06 percent up at Rs 279.30 apiece on the BSE.
Domestic steel major JSW Steel reported a 9.96 percent fall in consolidated net profit to Rs 1,603 crore for the October-December quarter of 2018-19. The company had clocked a consolidated net profit of Rs 1,774 crore in the year-ago period.
Its total income in the quarter under review increased 11 percent to Rs 20,355 crore from Rs 18,306 crore in the October-December period of 2017-18.
Total expenses too increased almost 11 percent to Rs 17,916 crore during the December quarter of 2018 as against Rs 16,188 crore in the corresponding period of the previous fiscal.
Allahabad Bank – Miss
Shares of Allahabad Bank closed at Rs 42.35 on BSE, down 0.94 percent from it previous close.
The state-owned bank reported narrowed net loss at Rs 732.81 crore for third quarter ended December of the current financial year due to reduction in bad loan provisions. The bank had posted a net loss of Rs 1,263.79 crore in the same period of the previous fiscal.
Total income was nearly flat at Rs 4,756.88 crore for December quarter of 2018-19, as against Rs 4,755.33 crore in the same period of 2017-18.
On the asset front, the bank witnessed a rise in its gross non-performing assets (NPAs) at 17.81 percent of the gross advances as at December-end 2018, as against 14.38 percent by December 2017.
In value terms, gross NPAs or bad loans stood at Rs 28,218.79 crore, higher than Rs 23,260.81 crore a year ago.
However, the net NPAs were brought down to 7.70 percent (Rs 10,865.26 crore) from 8.97 percent (Rs 13,646.52 crore).
For accounts under provisions of Insolvency and Bankruptcy Code (IBC), the bank is holding provision of Rs 4,887.17 crore of total outstanding as on December 31, 2018.
Muthoot Finance – Miss
Shares of the company closed at Rs 482.10 on the BSE, down 3.13 percent from its previous close.
Muthoot Finance reported a 1 percent rise in its net profit at Rs 485 crore for the third quarter ended December 2018. The company had registered a net profit of Rs 479 crore in the same period in 2017-18.
Muthoot Finance's total income for October-December quarter of 2018-19 stood at Rs 1,717 crore, up 8 percent from Rs 1,591 crore reported in the year-ago period.
Its loan assets stood at Rs 36,497 crore as on December 31, up 19 percent year-on-year. The company has reported its lowest NIM in 6 quarters.
Graphite India – Miss
Shares of the company closed at Rs
515.95 on the BSE, down 0.48 percent from its previous close.
The company reported a 112.8 percent net profit Rs 764.00 crore for the quarter ended December 2018 as against Rs 359.00 crore during the previous quarter ended December 2017.
The company's sales rose 80.98 percent to Rs 1855.00 crore in the quarter under review.
With inputs from PTI.