.@canarabanktweet Q1 net profit grew by 11.51% y.o.y to Rs. 281 cr.

.@canarabanktweet Q1 net profit grew by 11.51% y.o.y to Rs. 281 cr. after it made huge loss of Rs 4,860 cr. on account of higher provisions to cover bad loans in Q4 FY18 pic.twitter.com/hyveC2zxg3

— Press Release Watch (@PrReleaseWatch) July 25, 2018

Weak revenue guidance disappoints investors in @Wipro in Q4

Highlights of the Results

Results for the Year ended March 31, 2018:
 Gross Revenue was ₹544.9 billion ($8.4 billion1), a decline of 1.0% YoY.
 IT Services Segment Revenue was $8,060.2 million, an increase of 4.6% YoY.
 Non-GAAP constant currency IT Services Segment Revenue grew 2.9% YoY.
 IT Services Segment Revenue in Rupee terms remained flat at ₹528.4 billion ($8.1 billion1).
 IT Services Margin was 15.8%. Excluding the impact of insolvency of two customers and the impairment
loss in one of our acquisitions, IT Services Margin for the year was 16.8%*.
 Net Income3 was ₹80.1 billion ($1.2 billion1), a decrease of 5.7% YoY.
Results for the Quarter ended March 31, 2018:
 Gross Revenue was ₹137.7 billion ($2.1 billion1), an increase of 0.7% sequentially.
 IT Services Segment Revenue in dollar terms was $2,062.0 million, up 2.4% sequentially and 5.5% YoY.
 Non-GAAP constant currency IT Services Segment Revenue grew 1.1% sequentially and 2.5% YoY.
 IT Services Segment Revenue in Rupee terms at ₹134.1 billion ($2.1 billion1), an increase of 1.3%
sequentially.
 IT Services Margin for the quarter was 14.4%. Excluding the impact of insolvency of a customer and the
impairment loss in one of our acquisitions, IT Services Margin for the quarter was 16.0%*.
 Net Income3 for the quarter was ₹18.0 billion ($277 million1).
Performance for the quarter and year ended March 31, 2018
Abidali Z. Neemuchwala, CEO and Member of the Board said - “Our investments in Digital and our efforts in client mining are paying off well. Our strong order bookings in the last two quarters provide  us the right foundation to grow as we progress through the year.”

Digital learning sol. provider @KNOLSKAPE posts over 100% revenue growth in 2017

Leading talent transformation company KNOLSKAPE Solutions has achieved revenue growth of over 100% in 2017. The growth was delivered through a healthy mix of new customer acquisitions, repeat business and international expansion.

Digital learning sol. provider @KNOLSKAPE posts over 100% revenue growth in 2017 pic.twitter.com/41kzVrIzKp

— Press Release Watch (@PrReleaseWatch) February 20, 2018

According to Rajiv Jayaraman, Founder-CEO of KNOLSKAPE, “For us, customer satisfaction and solving their critical talent related problems is the motivation to continuously innovate. Our results for 2017 are reflective of the confidence the market places in our solutions, and we look forward to working closely with our customers to address their needs.”

KNOLSKAPE creates software simulations and experiential learning products to help organisations on-board, train, assess and engage talent using its wide portfolio of experiential learning products.​

.@VijayaBankIndia Q3 net down 65.45 % due to higher provisions

Bangalore headquartered Vijaya Bank reported 65.45 percent decline in net profit at Rs 79.56 crore for the third quarter ended on December 31, 2017, due to rise in provisions.The bank's total income also declined 7.09 percent to Rs 3,450.81 crore in the quarter under review from Rs 3,714.37 crore in the same period a year ago.The bank's gross non-performing assets (NPAs) improved marginally to 6.17 per cent as against 6.98 per cent in the same quarter last fiscal.

.@VijayaBankIndia Q3 net down 65.45 % due to higher provisions pic.twitter.com/HLyyrjTnNJ

— Press Release Watch (@PrReleaseWatch) January 24, 2018

Net NPA's also came down to 3.99 per cent in the quarter under review compared to 4.74 per cent a year ago.

.@VijayaBankIndia Q2 #NetProfit rises 20% at Rs.185.46 crore from Rs.154.55 crore

.@VijayaBankIndia Q2 #NetProfit rises 20% at Rs.185.46 crore from Rs.154.55 crore pic.twitter.com/GiJGHp9Glx

— Press Release Watch (@PrReleaseWatch) October 26, 2017

Bank's  total income fell marginally to Rs3,501.31 crore for the said quarter from Rs.3,516.57 crore a year ago.

Total expenditure went down 6.05% to Rs2,767.35 crore for the said quarter from Rs2,945.7 crore in the year- ago period.

The gross non-performing assets (NPAs) of the bank dipped slightly to 7.06% of the gross advances as on 30 September 2017 from a level of 7.07% a year ago.

#Wipro 4QFY17 Guidance disappointing

 Revenue at US$ 1,955mn (+2.7% QoQ, 1.7% CC) higher than expectation of US$ 1,935mn. Digital (22.1% of revenue) grew +4.8% QoQ led by Appirio acquisition. The legacy business (ex-digital) grew 2.2% QoQ, led by Energy (+3.5% QoQ, second consecutive quarter of growth) and Manufacturing (+5.0% QoQ).

#wipro disappoints : guidance shocks at -2% to 0% .
Margins boosted by one offs ! Cheap stock to get a bit cheaper tom?

— Reema Tendulkar (@Reematendulkar) April 25, 2017

•             US$ revenue growth guidance of US$1,915/1,955 for 1QFY18E, implying a growth of -2.0/0.0% QoQ is lower than expectation and indicates concern in legacy business.

•             Strategy around top-account mining is yielding results, grew 6.4% QoQ, Top 5/10 grew 2.7/2.7% QoQ.

•             IT Services EBIT margin expanded 55 bps QoQ to 18.3% despite integration of low margin Appirio acquisition led by 290bps expansion in utilisation excluding trainees.

•             From a service line perspective, IMS (+2.4% QoQ), Analytics (+1.3% QoQ) and Application services (+5.7%) contributed to growth while BPO declined 5.0% QoQ due to issue in health plan services.

•             PAT stood at Rs 22.61bn (+7.2% QoQ), which includes an extraordinary income of Rs 4.08 from the sale of the EcoEnergy division. APAT stood at RS 18.53bn down 12.2% QoQ.

•             Wipro announced a bonus issue of 1:1, which is sentimentally positive.

•             Overall organic growth engine for Wipro remains challenged and recovery is taking longer than expected. However Wipro has been aggressive in acquiring companies with Digital capabilities but it’s not enough to backfill the loss from legacy. 

Low cost of fund, fewer slippages & improve in NIM pushes @VijayaBankIndia Q3 2016 net to Rs.230 cr.

Low cost of fund, fewer slippages & improve in NIM pushes @VijayaBankIndia Q3 2016 net to Rs.230 cr. pic.twitter.com/wpgWxlVYRD

— Press Release Watch (@PrReleaseWatch) February 3, 2017

Bengaluru headquartered Vijaya Bank has reported nearly fourfold jump in its net profit to Rs.230.28 cr for the third quarter ended December 2016.It had posted a net profit of Rs.52.61 cr in Q3 last year.According to Kishore Kumar Sansi, CEO Vijaya Bank, rise in the net profit can attributed to the availability of low cost of fund following demonetization, reduction in number of slippages and improve in NIM in this quarter.
Its total income rose to Rs.3,714.37 crore in this quarter from Rs.3,237.02 crore in the same period last year.

@VijayaBankIndia reports 34% jump in Q2 net profits

Vijaya Bank has reported 34.1 per cent increase in net profit to Rs 154.55 crore in the second quarter of the current fiscal, its net profit in the July-September quarter of 2015-16 was Rs 115.29 cr. Provisions for bad loans and contingencies were increased by to Rs 389.82 crore for this quarter.

Vijaya Bank's Q2 net profit up 34% pic.twitter.com/H4lC64FeKA

— Press Release Watch (@PrReleaseWatch) October 27, 2016

Its gross non-performing assets (NPAs)  rose to 7.07 per cent of the gross advances as of September 2016.

36% drop in first-quarter net profit by #ideacellular

36% drop in first-quarter net profit by #ideacellular pic.twitter.com/sX116uKlD6

— Press Release Watch (@PrReleaseWatch) August 9, 2016

Brigade Enterprises Q1 net at Rs. 22.2 cr. down 12%

Brigade Enterprises Q1 net at Rs. 22.2 cr. down 12% pic.twitter.com/ppHBZlPdss

— Press Release Watch (@PrReleaseWatch) August 5, 2016

Bengaluru based real estate developer Brigade Enterprises has reported 12% year on year decline in its Q1 consolidated net profit. Its Q1 PAT stood at Rs. 22.2 cr vis-a-vis Rs. 25.3 cr. Its total consolidated revenue for the quarter ended June 2016 rose 6% to Rs 466.4 cr.

#Syndicate Bank's Q1 net at Rs 79 cr. down 73%

Heavy provisioning has dragged Syndicate Bank’s profits by 73.79 per cent to Rs.79.13 crore in the 1st quarter of FY17.It registered a net profit of Rs 301.98 crore in the corresponding April-June quarter of the previous fiscal.

@canarabanktweet 's Q1 PAT at Rs. 229 cr. down 52%

Canara Bank's Q1 PAT at Rs. 229 cr. down 52% pic.twitter.com/EiYjQpBotF

— Press Release Watch (@PrReleaseWatch) July 25, 2016

Vijaya Bank Q1 net up 13.4% at Rs. 161.66 cr

Bengaluru based mid sized PSU bank Vijaya Bank has reported 13.4 per cent increase in net profit at Rs. 161.66 crore for the first quarter ended June 30, 2016-17 mainly due improvement in Net Interest Margin (NIM).

Vijaya Bank Q1 net up 13.4% at Rs. 161.66 cr pic.twitter.com/PywbL0fYLH

— Press Release Watch (@PrReleaseWatch) July 22, 2016

But its its gross non-performing assets (NPAs) rose to 7.31 per cent of the gross advances as of June, from 3.39 per cent a year ago.

#wipro projects weak outlook up for Q2

Wipro expects revenue to grow between 0.1 per cent and 1 per cent in Q2 ending Sep.

#wipro projects weak outlook up for Q2 pic.twitter.com/ExeJFaLNwS

— Press Release Watch (@PrReleaseWatch) July 19, 2016

Britain's decision to quit the EU "could delay some discretionary spend and create some slowdown in the European financial services sector," said Chief executive officer Wipro Abidali Neemuchwala.

Wipro expects IT services revenue in July-September 2016 quarter to be between USD 1.93 billion and USD 1.95 billion.

— Press Trust of India (@PTI_News) July 19, 2016

Jatin Dalal, Chief Financial Officer, said – “IT Services margins reflect the investments in rewarding our
employees as well as the impact of consolidation of our acquisitions for the full quarter. We continue to expandthe reach of our automation programs to harness efficiency gains.”

Wipro Q1 net profit dips 6.7% to Rs 2,059 cr; total income from operations rises 10.7% to Rs 13,697.6 cr for April-June 2016.

— Press Trust of India (@PTI_News) July 19, 2016

Canara Bank posts record loss of Rs. 3905 cr. for Q4 FY16, mainly due to 6,332 cr. provisioning for bad loans

Canara Bank posts record loss of Rs. 3905 cr. for Q4 FY16, mainly due to 6,332 cr. provisioning for bad loans pic.twitter.com/ZL1z9eeFxQ

— Press Release Watch (@PrReleaseWatch) May 27, 2016

Major Highlights: Q4 FY16

 Non‐interest income at 1383 crore, up by 4.33% y‐o‐y.
 Interest Expenses declined by 3% y.o.y vis‐à‐vis 7.66% increase last year.
 Operating expenses increase curtailed to 1.5% y.o.y vis‐à‐vis 20.68% last year.
 Operating profit at 1647 crore.
 Total Provisions for Q4FY16 at 5552 crore and net loss for Q4 FY16 at 3905 crore.

Brigade Group's Q4 net jumps 20% to reach Rs. 41 cr.

Real Estate major Brigade Enterprises Limited’s consolidated revenues for the year ended 31st March, 2016 was Rs. 1700 crores, up from Rs. 1,331 crores recorded during the previous year. (28% growth) The Consolidated Net Profits stood at Rs. 147 crores as against Rs. 115 crores, witnessing an increase of 28% over previous year.

 Q4 result highlights:-

Total Revenues stood at Rs. 485 crores vis-a-vis Rs. 394 crores, an increase of 23%

EBITDA stood at Rs. 142 crores vis-a-vis Rs. 119 crores, an increase of 20%.

EBITDA margin stood at 29.3% vis-à-vis 30.1%.

PBT stood at Rs. 59 crores vis-a-vis Rs. 57 crores, an increase of 5%.

PAT stood at Rs. 41 crores vis-a-vis Rs. 34 crores, an increase of 20%


Commenting on the company’s performance, Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited, said “FY 2015-16 has been a challenging year for the Real Estate Industry. However, on a positive note, our revenues, profits and EBITDA margins have continued to improve year on year. We will stay committed to build positive experiences for our customers and remain focussed on our core competencies.’

#Wipro profit drops in Q4FY16, margins below expectations

#Wipro profit drops in Q4FY16, margins below expectations pic.twitter.com/09860BFlkJ

— Press Release Watch (@PrReleaseWatch) April 21, 2016

Wipro's consolidated net profit dipped 1.6 per cent to Rs 2,235 crore for the quarter ended March. This is against a net profit of Rs 2,272 crore in the same quarter last fiscal. The company's revenue, however, rose 12.9 per cent to Rs 13,741.7 crore during the reported quarter, from Rs 12,171.4 crore in the year-ago period.

Wipro's FY16 net profit up 2.7 per cent to Rs 8,892.2 cr, revenue rises 9.1 per cent to Rs 51,630.7 crore from last fiscal.

— Press Trust of India (@PTI_News) April 20, 2016

“Wipro’s revenues matched up with expectations but margins were below our expectations. Client – specific challenges in BFSI impacted growth while Energy vertical continued to witness headwinds.

The revenue guidance for 1Q indicates marginal growth on an organic basis, which in disappointing.

Wipro continues to be impacted by the lack of scale up in large accounts, apart from the continuing challenges in the Energy / Telecom segments.

Consistent revenue growth in future will make us more positive on the stock.”

Views on Wipro Q4FY16 Results by Dipen Shah- SVP & Head PCG Research, Kotak securities

Brigade Enterprises Q3 net drops 26%

Brigade Enterprises reported a 26% drop in net profit at Rs 40 crore for the third quarter of FY 2016 as compared to same period last financial year due to tough real estate market.

Consolidated Q3 Performance (Q3FY 2015-16 Vs Q3FY 2014-15)

Ø  Total Revenues stood at Rs 511.3 crores vis-a-vis Rs 367.7 crores, an increase of 39%

Ø  EBITDA stood at Rs 137.8 crores vis-a-vis Rs 124.5 crores, an increase of 11%.

Ø  EBITDA margin stood at 26.9% vis-à-vis 33.9%.

Ø  PBT stood at Rs. 66.9 crores vis-a-vis Rs. 67.1 crores, a decrease of 0.3%.

Ø  PAT stood at Rs. 40.3 crores vis-a-vis Rs. 54.2 crores, a decrease of 26%.

According to the company's statement leasing and hospitality segments contributed Rs. 51 crores and Rs. 47 crores respectively to the consolidated revenues for the third quarter of FY 16.

"Launches aggregating to 2.71 million sq. ft have been done in the first three quarters of FY2015-16, of which, the launches in the residential segment were 2.64 million sq ft," the company said. It plans to launch about 3 million sq. ft. within the next 2 quarters.

Better than expected Q3 results for Persistent Systems

Pune-headquartered software firm Persistent Systems has posted better than expected number for the quarter ended December 2015 with sales of Rs 592.07 cr, a growth of 9.1% sequentially and 19.7% year-on-year.

Persistent Systems’ Q3 earnings beat estimates. Anand Deshpande, MD & CEO takes us through the company’s earnings https://t.co/iqZSicIeEd

— CNBC-TV18 News (@CNBCTV18News) January 25, 2016

Better than expected Q3 results for #Persistent Systems pic.twitter.com/Heq9zQIsMP

— Press Release Watch (@PrReleaseWatch) January 25, 2016

Profit after tax for the quarter was Rs 77.48, up 7.8% sequentially and 4.1% year-on-year. The dollar revenue for the quarter was up 8.1 % sequentially at $89.65 million.Anand Deshpande, Managing Director and CEO, Persistent Systems said “Our strategy continues to pay off. Our platform-based solutions and a robust partner ecosystem drives our strategy for enterprise digital transformation. Our acquisitions are strengthening our technology expertise, all helping fuel a record quarter for us.”

#Wipro 3QFY16 results lower than market expectations : #Kotak Securities

Bangalore-headquartered country's third largest IT services vendor Wipro has reported 1.8 per cent growth in its net profit for the 3rd quarter of FY2015-16. The company’s consolidated net profit stood at Rs 2,234 crore for the quarter ended December 31, 2015 as against Rs 2,192 crore in the corresponding quarter last year.
Analysts polled by Thomson Reuters estimated net profit in the quarter at Rs 2,223 crore.
Total Income of the company for the October-December period was Rs 12,951.60 crore as against Rs 12,085.10 crore in the corresponding quarter last year, registering a growth of 7.17 per cent.
However, the company operating margins were hit which fell to 20.2 percent from 21.8 percent a year ago, mainly on account of Chennai floods and the additional expenses incurred in deploying Business Continuity Plans

T K Kurien, #CEO: "We delivered Revenues in line with our guidance. We saw a pick-up in large deal closures led by Global Infra Services"

— Wipro (@Wipro) January 18, 2016

The company’s flagship IT services profit stood at around Rs 2,482 crore while the IT services revenue was Rs 12, 314 crore. The IT services margin for the quarter was 20.2 per cent.

In dollar terms the company’s net profit stood at $338 million, up 2 per cent. IT Services segment revenue was $1,838.3 million, a sequential increase of 0.3 per cent.

Commenting on the result Dipen Shah, Senior Vice-President & Head of Private Client Group Research, Kotak Securities said, “Wipro’s 3QFY16 results were lower than our estimates with 1.4% CC revenue growth and a 45bps fall QoQ. Wipro continues to be impacted by the lack of scale up in large accounts, apart from the continuing challenges in the Energy / Telecom segments. 4Q IT services growth guidance of 2% - 4% includes about 1.25% growth from acquisitions, we estimate. Wipro’s valuations are at a discount to larger peers. Markets will accord higher valuations after seeing consistent high revenue growth, we believe.”