March quarter results: How have the large-caps performed?
Pratibha Kamath  and  N Madhavan 07 June 2011

Organisations with market capitalisation between Rs2,000 crore to Rs10,000 crore posted net profit growth of 35% over the March 2010 quarter—with aggregate net profit at Rs13,690.52 crore

For the March 2011 quarter, we analysed a total of 1,300 companies, out of which 1,211 have announced their results. Moneylife studied the performance of large-cap, mega-cap and mid-cap companies.

Large-cap companies (with Rs2,000 crore to Rs10,000 crore market capitalisation) were the most balanced performers with sales growth of 22% (aggregate sales Rs1,86,395.17 crore); operating profit growth of 26% (aggregate operating profit Rs28,139.75 crore) and net profit growth of 35% (aggregate net profit Rs13,640.65 crore) over the same quarter of March 2010.

Of the large-cap companies, the highest sales growth of 67% (sales of Rs2,078.78 crore) was achieved by PTC India in the energy sector. Its operating profit growth was 264% (operating profit Rs34.34 crore) and its net profit growth was 142% (net profit Rs33.51 crore). On the operating profit front, Gujarat NRE Coke was a high performer with a growth of 181% (operating profit of Rs65.16 crore). Its sales were Rs459.38 crore and its net profit was Rs50.82 crore. In terms of net profit growth, Godfrey Phillips was a good performer with 294% growth (net profit Rs56.32 crore). Its operating profit was Rs92.35 crore and its sales were Rs463.36 crore.

Gujarat State Fertilizers & Chemicals was also a good performer with net profit growth of 457% (net profit Rs205.14 crore), and operating profit of Rs316.96 crore and sales of Rs1,122.49 crore.

Among the poor performers in large-cap companies, Tata Teleservices (Maharashtra) had a negative sales growth of 8% (quarterly sales Rs579.49 crore); a negative operating profit growth of 44% (quarterly operating profit Rs93.95 crore) and a negative net profit growth of 399% (quarterly net loss Rs330.50). Mahanagar Telephone Nigam Ltd had a negative sales growth of 5% (revenue Rs855.01 crore); an operating profit growth of 78% (operating loss Rs587.28 crore), and a net profit growth of 30% (net loss Rs1,099.58 crore).

(On 8th June, we will cover the performance of mega-cap companies)

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