After gyrating over 350 points, the benchmark BSE Sensex on Tuesday ended 64.20 points lower at 35,592 on mixed cues from global markets amid fresh concerns over ongoing US-China trade tiff.
The NSE Nifty also edged lower by over 9 points to close at 10,652.
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
Other laggards were Kotak Bank, ONGC, Mahindra and Mahindra, SBI, Tata Steel and Infosys.
Among the top gainers were Sun Pharma, rallying 2.61 per cent. It was followed by Bajaj Finance, TCS, Asian Paints, ITC, HCL Tech -- rising up to 2.61 percent.
On Tuesday, companies such as Bajaj Finance, HDFC Ltd, Kansai Nerolac, Strides Pharma, Godrej Consumer, FACT, OBC and Himadri Chemicals announced their Q3 FY19 results during market hours.
HCL Tech and Axis Bank announced their results post market hours.
Bajaj Finance - Hit
Shares of the company closed at Rs 2,511.90, up 2.27 percent on BSE.
Bajaj Finance reported its highest ever quarterly profit and loan growth driven by strong growth in disbursements and customer base.
The company reported 54 percent jump in consolidated net profit at Rs 1,060 crore for the third quarter ended December, 2018. The company had posted a net profit of Rs 690 crore in the same period of the previous fiscal.
Total income during the December quarter of 2018 was up by 48 percent at Rs 4,995 crore from Rs 3,374 crore in the same quarter a year ago.
Company's gross non-performing assets (NPAs) and net NPAs as of December 31, 2018, stood at 1.55 percent and 0.62 percent respectively.
The provisioning coverage ratio stood at 60 percent. Loan losses and provisions for the third quarter were at Rs 454 crore as against Rs 278 crore in year ago period.
Assets under Management (AUM) as of December 31, 2018, grew by 41 percent to Rs 1,09,930 crore from Rs 78,033 crore year earlier.
HDFC Ltd – Miss
Shares of the company closed at Rs 1,928.50 per scrip, down 0.95 percent on NSE.
The housing finance company reported a net profit of Rs 2,113.80 crore on the standalone basis for the third quarter ended December 2018. The company had posted a net profit of Rs 5,300 crore in the October-December quarter of the last financial year.
Total income rose to Rs 10,569 crore during the December quarter against Rs 8,824 crore in the year-ago period.
As per National Housing Bank (NHB) norms, the gross non-performing assets stood at 1.22 percent of the total assets (Rs 4,731 crore) at the end of quarter.
At 15 percent AUM growth is the lowest in the last five quarters.
Ramco Cement – Miss
Shares of the company closed at Rs 572.10, up 0.47 percent on BSE.
The company reported a net profit of 101.07 crore in December 2018 down 17.66 percent from Rs 122.74 crore in December 2017.
Ramco Cement's revenue was at 1,210.43 crore in December 2018 up 14.58 percent from Rs 1,056.36 crore a year ago period. Operating profit as of December 31, 2018, was down by 9 percent at Rs 213 crore.
Kansai Nerolac – Miss
Shares of the company closed at Rs 428.00, down 1.98 percent on BSE.
The company reported a net profit of Rs 112.70 crore in December 2018 down 9.95 percent from Rs 125.15 crore in December 2017.
The company's revenue grew by 18 percent y-o-y at Rs 1,350 crore while EBITDA was down 7.9 percent.
Strides Pharma - Miss
Shares of Strides Pharma Science closed at Rs 492.20 on BSE, down 2.56 percent from the previous close.
The drug firm reported a consolidated net profit of Rs 296.43 crore for the quarter ended on December 31, 2018. Consolidated revenue from operations of the company stood at Rs 794.50 crore for the quarter under consideration against Rs 748.79 crore for the same period a year ago.
While the profit from the continuing operations was Rs 24.61 crore for the third quarter this fiscal, it was Rs 47.34 crore for the same period year ago.
The profit from the discontinued operations for the quarter ended December 31, 2018 stood at Rs 271.82 crore.
Important announcement: The board has approved acquisition of 100 percent stake in Vensun Pharma for $18.2 million and 80 percent stake in Pharmapar Inc for 4 million Canadian dollar.
Godrej Consumer – Miss
Shares of the company closed at Rs 757.30 on BSE, down 0.15 percent from the previous close.
The company reported a net profit of Rs 423.52 crore in December 2018, down 1.48 percent from Rs 429.87 crore a year ago period.
The company's total income grew by 3.5 percent to Rs 2,721.9 crore while gross margin declined to 56.2 percent.
FACT – Miss
Shares of Fertilisers and Chemicals Travancore (FACT) closed at Rs 38.65 on BSE, down 4.45 percent from the previous close.
The company reported a net loss of Rs 49.77 crore for the quarter ended December 2018 against net loss of Rs 4.41 crore a year ago period.
However, the company's revenue grew by 1.4 percent at Rs 591.4 crore.
According to its auditor, the company's net worth has completely eroded.
OBC - Hit
Shares of Oriental Bank of Commerce (OBC) closed at RS 94.80 on BSE, up 3.95 percent from its previous close.
The bank reported a net profit of Rs 145 crore for the quarter ended December 2018 against a net loss of Rs 1,985 crore a year ago period.
Total income for the third quarter was at Rs 5,127.98 crore. Operating profit for the quarter under review stood at Rs 1,002.33 crore.
Himadri Chemicals - Hit
Shares of the company closed at Rs 14.45 on BSE, down 0.087 percent from it close.
The company reported a net profit of Rs 84 crore of the quarter ended December 31, 2018, while revenue grew by 17.3 percent to Rs 586.7 crore.
Post-market Results
HCL Tech – HIT
The shares of the company closed at Rs 988.10 on BSE, up 1.24 percent from its previous closing.
The software services major posted a 19 percent increase in consolidated net profit to Rs 2,611 crore for the December 2018 quarter. Its revenue grew 22.6 percent to Rs 15,699 crore, compared with Rs 12,808 crore in the December 2017 quarter.
Axis Bank - HIT
Shares of the private lender closed at Rs 660.80 on BSE, up 0.74 percent from its previous closing
The bank reported over two-fold jump in net profit to Rs 1,680.85 crore for the third quarter ended December 31. The bank had posted a net profit of Rs 726.44 crore in the corresponding period of the previous fiscal.
The net interest income grew 18 percent to 5,604 crore in the third quarter this fiscal. Total income during the quarter under review rose to Rs 18,130.42 crore as against Rs 14,314.63 crore in the year-ago period.
Net non-performing assets (NPAs) stood at 2.36 percent of the net advances as on December 31, 2018, down from 2.56 percent by the end of December 2017.
Gross NPAs (or bad loans), however, worsened to 5.75 percent of the gross advances, up from 5.28 percent a year ago.
In value terms, the gross NPAs stood at Rs 30,854.67 crore in December quarter as against Rs 25,000.51 crore in the same period previous year. Net bad loans were Rs 12,233.29 crore as against Rs 11,769.49 crore.
With inputs from agencies.
