Q4 Results are out! As the Nifty 50 companies line up to disclose their performance report, we bring you a summary of their results along with the schedule of the results to come. (check out the earlier post here)
Nifty 50 Companies FY16 Results for the year ended March 31, 2016
HDFC saw its Revenue grow 10.2% with a Net profit growth of 16.3%. The company gained 1513.41 Cr on the stake sale in HDFC Standard Life Insurance Company in the fourth quarter which took those profits up 30%, and they also increased provisions nearly 10 times.
ICICI saw its Net Profit fall by 16.9% on the backdrop of on account of higher provisioning for bad loans. The company also announced that its top brass will not take a performance bonus for fiscal year 2015-16.
Idea Cellular reported a 14% growth in Revenue while Net Profit fell by 3.5%. The company reported voice realized rate of 33.3 paise per minute compared to 33.9 paise a minute it registered in same quarter a year ago. In case of data it declined from 44.8 paise per MB to 22.9 paise per MB during the quarter.
Nifty 50 companies cumulative Revenue declined 0.6% while the Net Profit grew 11%
Nifty 50 Companies FY16 Results for the quarter ended March 31, 2016
This is just 18/50 – and the big guys who generally seem to lose money will announce only later.
Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.