Money Tree

The stock markets are punishing those companies which are coming out with poor results and it is the IT sector which is disappointing with numbers. Today Hexaware and Polaris came out with numbers and clearly the appreciating rupee and soaring salaries have eaten their profits.

Hexaware Tech has posted a decline of 25.79% in net profits which stood at Rs 26.12 crore as against Rs 35.2 crore in previous quarter. The Net sales stood at Rs 261.6 crore versus Rs 264 crore (QoQ) and operating profit stood at Rs 26.2 crore.
The Operating profit margin was down to 10% from 12.8% QoQ and net profit margin was down to 9.98% from 13.3%.

Polaris Software Labs has reported a net profit of Rs 14.42 crore in Q1 versus Rs 21.4 crore in previous quarter down 32.68%. Consolidated net sales stood at Rs 257.45 crore versus Rs 270.78 crore (QoQ).

Hexaware lost 12.32 percent in today’s trade and closed at Rs.142.75 and Polaris lost 6 percent to close at Rs.140.30.

NDTV was the other company to disappoint with results

The company posted net loss of Rs 14.75 crore versus loss of Rs 8 crore on YoY basis. The net sales were up 10% at Rs 70 crore versus Rs 63.66 crore on YoY basis.

The stock was hammered down to Rs. 405.75, a sharp cut of 5.27 percent.

Noida Toll bridge gains on back of good results

Noida Toll Bridge has posted net profit of Rs 6.55 crore in Q1 versus Rs 1.66 crore on YoY basis. The net sales figure stood at Rs 14.3 crore versus Rs 10.7 crore in the corresponding previous quarter. The stock has made an upmove on the back of these results and touched Rs. 35.60 today. However, the stock closed at Rs.32.9 after some profit booking in the counter. We had recommended this stock at Rs.30.10 yesterday.

RNRL net up 270% to Rs 15.05cr

Reliance Natural Resources has announced its first quarter numbers. It has reported net profit of Rs 15.05 crore versus Rs 4.07 crore in corrresponding quarter of previous year. The net sales figure stood at Rs 26.61 crore as against Rs 12.74 crore in the corresponding previous quarter.
The stock closed at Rs. 42.90 today, the stock is in an upmove and we may see some more new highs in this counter. The stock was recommended on our site on 22nd June 2007 at Rs. 34.

S Kumars first quarter net profit at Rs 42.66 cr as against Rs. 25.02 crore.

S Kumars has has posted standalone net profit of Rs 42.66 crore in the first quarter of FY08 as against Rs 25.02 crore in corresponding quarter of previous year. The net sales stood at Rs 378.85 crore versus Rs 265.34 crore in the corresponding previous quarter. We had recommended this stock on 22nd June 2007 at Rs. 89.6 and today it was closed at Rs. 103, The stock had recently made a high of Rs. 115 before falling back to current levels.