ITC LTD = RESULTS FOR Q2 FY 2012 = NPT UP BY 14.38%QOQ & 21/46%YOY

ITS LTD

RESULTS FOR

2^ND QUARTER, FY 2012

QTR ENDING SEPT,2011

ITC LTD   has declared good results for the second quarter ending Sept,2011.

Net Sales has increased to Rs.5974.18 Cr in Q2 FY 12 – compared to  Rs.5767.47 cr in Q1 FY 12 – up by 3.58% - and compared to Rs.5061.20cr – up by 18.04% in Q2 FY 11.

Raw Materials consumption stands at Rs.1856.04 Cr in Q2 FY 12  – compared to Rs.1981.94 cr – down by (-)6.35% from Q1 FY 12 - and compared to Rs.1789.30 cr – up by 3.73% in Q2 FY 11

Total Expenditure stands at Rs.4036.36 cr in Q2 FY 12 – compared to Rs.4050.54 cr  -down by(-)0.35% from Q1 FY 11 – and compared to Rs.3436.28 cr in Q2 FY 11, up by 17.46%.

Profit from Operations has increased to Rs.2048.86 Cr in Q2 FY 12 – from Rs.1809.64 cr –up by 13.22% in Q1 FY 12 – and from Rs.1710.90 Cr in Q2 FY 11, up by 19.75%

Profit before tax has increased to Rs.2215.48 Cr in Q2 FY 12 – from Rs.1937.03 Cr in Q1 FY 12, up by 14.38% - and from Rs.1830.03 Cr in Q2 FY 11, up by 21.06%.

Net Profit has increased to Rs.1514.31 Cr in Q2 FY 12 – from Rs.1332.72cr in Q1 FY 11, up by 13.63%; and from Rs.1246.74 Cr in Q2 FY 11, up by 21.46%. This is an excellent performance from ITC, both QOQ and YOY.

Basic EPS stands at Rs.1.95 against Rs.1.72 in Q1 FY 12 and Rs.1.83 on FV of Rs.1 – The current quarters are on slightly increased equity. Hence, the performance is very good.

On this Basis, annualized EPS comes to around Rs.8. The Market price is Rs.204 . 52 week high price is Rs.216.20 and  52 week low price is Rs.149. On this basis, the PE Ratio comes to 25.5, which reflects the good sentiment in favour of ITC even in these troubled times. It merits better valuations in Normal times.

From announcements section, we can see that ITC has also acquired WIMCO , thus enhancing its profitability further.

RESULTS TABLE

ITC	30-Sep-11	30-Jun-11	% DIF	30-Sep-10	% DIF
Net Sales	597418	576747	3.58	506120	18.04
Other Operatng Income	11104	9271	19.77	8598	29.15
Increase in SIT/WIP	-3984	-11811	-66.3	-21116	-81.13
Raw Materials	185604	198194	-6.35	178930	3.73
Traded Goods	50294	43540	15.51	27506	82.85
Employees Cost	26504	39424	-32.8	26118	1.48
Depreciation	17013	16645	2.21	16399	3.74
Other Expenditure	128205	119062	7.68	115791	10.72
Total Expenditure	403636	405054	-0.35	343628	17.46
Profit from Operations	204886	180964	13.22	171090	19.75
Other Income	18080	14384	25.7	12449	45.23
Interest	1418	1645	-13.8	536	164.55
Profit before tax	221548	193703	14.38	183003	21.06
Tax expense	70117	60431	16.03	58329	20.21
Net Profit	151431	133272	13.63	124674	21.46
Face Value (In Rs	1	1	0	1	0
Paid Up Equity	77730	77381	0.45	76774	1.25
Basic EPS	1.95	1.72	13.37	1.83	6.56
Diluted EPS	1.93	1.7	13.53	1.61	19.88
Public holding (%)	99.69	99.69	0	99.64	0.05

ANNOUNCEMENTS TO NSE

24-10-2011 ITC Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2011 as follows: Net Sales of Rs. 597418 lacs for quarter ending on 30-SEP-2011 against Rs. 506120 lacs for the quarter ending on 30-SEP-2010. Net Profit / (Loss) of Rs. 151431 lacs for the quarter ending on 30-SEP-2011 against Rs. 124674 lacs for the quarter ending on 30-SEP-2010.

30-09-2011 Itc Limited has informed the Exchange that the Company has acquired the entire shareholding of Russell Credit Limited (wholly owned subsidiary of the Company) in Wimco Limited (Wimco), comprising 9,12,38,170 equity shares of Rs.1/- each (i.e. 96.825% of Wimco's equity share capital). Consequently, Wimco has become a direct subsidiary of the Company with effect from September 29, 2011.

28-07-2011 ITC Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2011 as follows: Net Sales of Rs. 576747 lacs for quarter ending on 30-JUN-2011 against Rs. 481663 lacs for the quarter ending on 30-JUN-2010. Net Profit / (Loss) of Rs. 133272 lacs for the quarter ending on 30-JUN-2011 against Rs. 107031 lacs for the quarter ending on 30-JUN-2010.

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TCS =TATA CONSULTANCY SERVICES = Q2 / HY 1 FY 2012 RESULTS = EXCELLENT PERFORMANCE = MANY KEY WINS = Huge Growth Prospects

TATA CONSULTANCY SERVICES

TCS has performed very well in the period April to Sept,.2011. 

H.Yly CONSOLIDATED RESULTS

April-Sept.2011

On a consolidated basis,  Net Sales have gone up to Rs.22430.51 Cr –for the Half year ending Sept,2011 compared to Rs.17503.67 Cr – an increase of 28.15%.

But, Total Expenditure has gone up to Rs.16453.24 cr –for HY Sept,2011 –compared to Rs.12651.99 Cr for HY Sep.2010 – an increase of 30.04%.

Profit from Operations has gone up to Rs.5977.27 Cr for HY Sep.2011 – compared to Rs.4851.68 Cr for HY sept.2010 – an increase of  23.2%.

Profit before tax has gone up to Rs.6379.74 cr for HY sept 2011, compared to Rs.        4999.93 cr – an increase of  27.6%

Consolidated Net Profit has gone up to Rs.4715.78 Cr  for HY Sept 2011 – compared to Rs.4075.28 cr in HY Sep 2010  - an increase of 15.72%.

Basic EPS(in Rs.) for HY ending Sept.2011 stands at Rs.24.06 – compared to Rs.20.77 for HY sept 2010 – an increase of 15.84%.

CONSOL-RESULTS TABLE

On half yearly basis

TCS-CONSOL	1st HY 12	1s Thy 11	% dif
Net Sales	2,243,051.00	1,750,367.00	28.15
Employees Cost	869,310.00	645,024.00	34.77
Depreciation	43,970.00	33,399.00	31.65
Other Expenditure	732,044.00	586,776.00	24.76
Total Expenditure	1,645,324.00	1,265,199.00	30.04
Profit from Operation	597,727.00	485,168.00	23.2
Other Income	41,683.00	16,621.00	150.79
Interest	1,436.00	1,796.00	-20.04
Profit before tax	637,974.00	499,993.00	27.6
Tax Expense	161,158.00	86,294.00	86.75
Net Profit	476,816.00	413,699.00	15.26
Minority Interest	5,238.00	6,141.00	-14.7
Shares of Associates	-	30
Consolidated Net Profit	471,578.00	407,528.00	15.72
Face Value (in Rs.)	1	1	0
Paid-up Equity	19,572.00	19,572.00	0
Basic EPS(in Rs.)	24.06	20.77	15.84
Public Shareholding (%)	25.92	25.99	-0.27

RESULTS FOR

QTR = June to Sept,2011

CONSOLIDATED

Demand momentum across markets drives Q2 Revenues to Rs 11,633 cr ($2.52 b) up 25.3% Y-o-Y; up 7.7% Q-o-Q

Volumes increase 6.25% sequentially

International business grows 9% led by major markets

Attrition sharply lower at 13.7%; Gross addition at new high

Ø    Operating Profits at Rs.3,143 crore; Growth of 21.4 % Y-o-Y and 11.4 % Q-o-Q

Ø    Operating Margins at 27%, up 89 basis points

Ø    Profit After Tax at Rs.2,301 crore; Growth of 6.1 % Y-o-Y and (4.7) % Q-o-Q

Ø    Dividend per share of Rs.3

Ø    Earnings Per Share at Rs.11.74

Business Highlights for Quarter Ended September 30, 2011

Ø    $100-million+ customers up 2 to 12; reflects continued traction for full services strategy

Ø    Gross Addition of 20,349 Employees (Net Addition of 12,580 employees)

Ø    High Utilisation rates maintained at 83.1% (excluding trainees)

Ø    35 New Clients added; 1010 active clients

NON-CONSOLIDATED RESULTS (QTRLY)

Net Sales for the 2^nd Qtr ending Serpt,2011 stands at Rs.9329.24 cr – an increase of  8.31% over preceding qtr of q1 FY 12; and an increase of 45.52% over Q2 FY 11 (corresponding Qtr).

Total Expenditure stands at  Rs.6842.72 Cr for Q2 FY 12 – an increase of 7.98% over Q1 FY 12; and an increase of  46.71% over Q2 FY 11.

Profit from Operations      stands at rs.2486.52 Cr  for Q2 FY 12 – an increase of  9.21% from Q1 Fy 12; and an increase of  42.35% over Q2 FY 11.

Other Income is huge at Rs.1420.48 cr for Q2 FY 12 – an increase of  451.9% over Q1 FY 12; and increase of  3799.2% over Q2 FY 11.

Profit before tax stands at Rs.3898.53 cr for Q2 FY 12 – an increase of  53.98% over Q1 FY 12; and an increase of  118.87% over q2 FY 11.

Net Profit has gone up to Rs.3187.11 cr in Q2 FY 12 – compared to Rs.2062.43 cr in Q1 FY 12, an increase of  54.53%; and compared to Rs.1556.41 cr in Q2 FY 11, an increase of  104.77%.

Basic EPS for Q2 FY 12 on standalone basis is Rs.16.27 – compared to  Rs.10.52 for Q1 FY 12;  and compared to Rs.7.93 for Q2 FY 11.

Key Wins

                 A leading Global Bank has selected TCS BαNCS platform to implement asset servicing for wholesale banking and securities processing for direct custody.

                Selected by a large broadband and telecommunications player in Europe and Latin America for service management & integration in a deal valuing over $ 100 M.

                TCS BαNCS Insurance product to be implemented across five North Asian countries including China for the Life and Annuities business for a leading UK based life assurance company.

                Won a platform standardization deal to consolidate a diverse footprint for a large US based large insurance company.

                Awarded large contract by a US Fortune 500 medical devices company for end-to-end remote infrastructure services.

                Selected by a large US-based cable operator and home internet service provider as its strategic partner for its OSS/BSS transformation.

                TCS BαNCS portfolio for core banking, fraud monitoring, domestic and international payments was selected by a leading European financial services provider.

                Selected by a global brewing and bottling company as its technology partner to provide infrastructure management services.

                        Selected by a leading generator and marketer of electricity in North America as a strategic partner for application and infrastructure management.

NON-CONSOLIDATED RESULTS

FOR Q/3 SEPT 2011

TCS NON-CON	30-Sep-11	30-Jun-11	% DIF	30-Jun-10	% DIF
Net Sales	932924	861356	8.31	641095	45.52
Employees Cost	342171	320587	6.73	225942	51.44
Depreciation	17387	15726	10.56	11460	51.72
Other Expenditure	324714	297363	9.2	229018	41.79
Total Expenditure	684272	633676	7.98	466420	46.71
Profit from Operations	248652	227680	9.21	174675	42.35
Other Income	142048	25740	451.9	3643	3799.2
Interest	847	236	258.9	194	336.6
Profit before tax	389853	253184	53.98	178124	118.87
Tax expense	71142	46941	51.56	22483	216.43
Net Profit	318711	206243	54.53	155641	104.77
Face Value (In Rs	1	1	0	1	0
Basic EPS	16.27	10.52	54.66	7.93	105.17

Thus, the performance of TCS on stand alone and consolidated basis ,as can be seen from the above, has been EXCELLENT. The momentum in winning New deals is a great strength for TCS. Thus, TCS is always a BUY.

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