Motilal Oswal Financial Services Q2 net profit stands at Rs34.95 crore

Motilal Oswal Financial Services has reported an EPS of Rs2.41 for the September 2011 quarter compared to Rs2.30 for the same quarter last fiscal

Motilal Oswal Financial Services Ltd has announced the financial results for the period ended 30 September 2011.

The company has reported net sales of Rs109.82 crore for the quarter ended 30 September 2011 compared to Rs151.03 crore for the same quarter corresponding year.

During the same period, the net profit stood at Rs34.95 crore against Rs33.11 crore.

The company has reported an EPS of Rs2.41 for the September 2011 quarter compared to Rs2.30 for the same quarter last fiscal.

In the early morning, the stock was trading at around Rs90 per share on the Bombay Stock Exchange, 2.70% down from the previous close.

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MindTree reports profits in Q2

MindTree is giving out an interim dividend of 25%

Bangalore-based IT firm MindTree said that it has achieved more than doubled its profits for the quarter ended 30 September 2011, indicating its return to healthy growth after one of its founders quit more than six months back. The company has reported revenues of $100 million in a single quarter.

In the previous quarter, Mindtree’s revenues had grown by 5.6% to Rs413.1 crore.

"The third quarter is seasonally weak due to lower number of working days and clients nearing the end of their budget cycle. Also, we are seeing a slowdown in the consumer and semi conductor sector in our product engineering services (PES) business," said MindTree CEO and managing director, Krishnakumar Natarajan. PES business brings in nearly 35% revenues of the company of which the company's exposure to semiconductor and consumer sector is 20%.

"Our ability to re-invent ourselves will take us to our next target of $1 billion in revenues. We will grow ahead of the industry as we continue to demonstrate optimism," said Natarajan. The company, which added 15 new clients and 1,003 employees in the quarter, is giving out an interim dividend of 25% (Rs2.50 per equity share of par value 10 each).

In the early morning, MindTree was trading at around Rs402 per share on the Bombay Stock Exchange, 3.98% up from the previous close.

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