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Exide results beat Dalal Street (Live mint.com 15th Jan 2008)Exide Industries Ltd’s shares have more than doubled so ar this fiscal year, on the back of strong earnings growth and a revision in the value of its insurance subsidiary.
The company’s better than expected December quarter results and news that it would get an order for Tata Motors Ltd’s Nano cars has led to a minor re-rating in the last two trading sessions. Adjusted for the value of its holdings in its insurance subsidiary (about Rs18 per share), the core battery business’ valuation has risen nearly 20% in just two trading sessions.
Motilal Oswal Securities Ltd had estimated Exide’s earnings at Rs50 crore in the December quarter, while the company reported a net profit of Rs55 crore, 10% higher than the estimate. Moreover, operating margin was maintained at year-ago levels of 15%, which is commendable considering that lead prices during the period had nearly doubled. More

IDFC Q3 consolidated net up 74% at Rs 217cr(Business Stndard 15th Jan 2008)Infrastructure Development Finance Company (IDFC) has posted 74% increase in consolidated net profit at Rs 217.28 crore for the quarter ended December 31, 2007 (Q3FY08) when compared with Rs 124.99 crore for Q3FY07.According to an official release issued by the company to the BSE today, total income during the quarter increased to Rs 766.70 crore from Rs 402.30 crore.On a stand-alone basis, the company has posted a 73% increase in net profit at Rs 198.67 crore for (Q3FY08) when compared with Rs 115.15 crore in Q3FY07. More
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