8 Feb 2017
HDFC Bank, Kotak Mahindra Bank, Bajaj Auto, Pidilite Industries and Torrent Pharma
The third quarter results season is turning into a pleasant surprise with 58% of companies reporting numbers equal to or better than expected. In aggregate, so far profits are ahead by an average of 10.5% compared to consensus estimates of 5.7%. In our portfolio, Agro Tech Foods announced revenues ahead by 2.7% and profits by 28.8%. HCL Tech reported revenues ahead by 14.2% and profits by 7.9%. HDFC Bank reported net interest income ahead by 17.6% and profits by 15.1%. Kotak Mahindra Bank reported NII ahead by 67.6% and profits by 38.6%. Supreme Industries reported revenues ahead by 10.5% and profits by 35.8%. Bajaj Auto showed the most obvious effects of demonetization with sales down by 9% and profits ahead by just 2.6%, a positive surprise nonetheless. Pidilite Industries reported sales down by 0.3% and profits ahead by just 9.1%. Finally, Torrent Pharma reported sales down by 7% and profits by 21%.
Posted by #richardneve at 2/08/2017