After a stable begin, the Indian share market floated lesser present
morning, with shareholders treading carefully among varied worldwide signs. After
fresh poor data on industrial production and inflation and a somewhat varied 1th
batch of quarterly earnings notes, shareholders are looking for new direction. Energy,
information technology and realty shares are amid the top gainers. A few shares
from the metal and capital goods space too have edged upper. Power, automobile,
bank and FMCG shares are mostly flat.
Infosys, which moved up sharply on Thursday thanks to remarkable
Q3 results and an upward review in earnings direction for the year, has expanded
its increases present morning and is at present trading more than 2 Per cent gain
at Rs 1152.
Hindustan Unilever fallen 1% in front of its Q3 earnings.
Numbers are expected to be lukewarm during the quarter with net revenue drop 14%
y-o-y to Rs 1,073 crore. Profits are seen growing 5.7% to Rs 8220 crore in same
time.
US crude oil futures chop, heading lesser after posting the 1th
important increases for 2016 in the last session, as the view of additional
Iranian supply looms over the market. West Texas Intermediate (WTI) was dropping
61 cents at USD 30.59 a barrel. On Thursday, the agreement increased 72 cents, or
2.4%, to resolve at USD 31.20. It strike a 12-year low of USD 29.93 earlier present
week.
Cyient Q3 misses estimates, profit
falls 12% to Rs 86.8 cr
IT services
provider Cyient's Q3 earnings missed analysts' prospects on Thursday. Profit dropped
11.8% to Rs 86.84 crore during the quarter compared to Rs 98.5 crore in
preceding quarter on bad operational performance and sluggish development in profits.
Profits improved 1.3% to Rs 781.8 crore in quarters closed Dec. 2015 against Rs
771.64 crore in Sept. quarter.
Operating
profit (earnings before interest, tax, depreciation and amortisation) dropped 6.6%
quarter-on-quarter to Rs 109.5 crore and margin tapered by 118 basis points to
14% in quarter gone by.
Mastek Q3
disappoints, profit down 70% on project losses
Software services provider Mastek
disappointed street with Q3 earnings on Thursday. Net revenue fallen 70% to Rs
0.8 crore during Oct-Dec quarter compared to Rs 2.66 crore in preceding
quarter, impacted by slow operational performance and project sufferers.
"Cost overruns on account of
onsite security cleared resources led to major sufferers on a specific project
amounting to Rs 7.7 crore for third quarter and Rs 26.2 crore for 9 months time,
which impacted revenue, says the company. LPT joint venture share of sufferers
for the quarter was Rs 5.9 crore compared to Rs 2 crore in preceding quarter.
Profits improved 4.7% to Rs 137.8
crore during the quarter against Rs 131.6 crore in quarters closed Sept. 2015,
driven by UK operations. Profits development in steady currency was 6.4%, says
the company in its filing, adding it added 6 fresh clients during the quarter,
taking total customer count to 82 as of Dec. 2015.
Mastek's 12-month order backlog was
Rs 210 crore in quarter closed Dec., dropped 6.34% compared to Rs 224.2 crore
in Sept. quarter. It says billable utilization stood at 81.7% during the
quarter compared to 82.8% in preceding quarter. Operating revenue (earnings
before interest, tax, depreciation and amortization) chop 95% sequentially to
Rs 0.2 crore and margin tapered by 294 basis points to 0.16% in quarter gone
by. During the quarter, other income dropped to Rs 2.9 crore from Rs 5.4 crore
on sequential basis.
Mastek says total cash and cash equivalent stood at Rs 110.3 crore as of
Dec. compared to Rs 130 crore as on Sept. quarter.
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