We are in the middle of the earnings season and there have been a few stocks that surprised the street with their earnings. Take a look at 5 such stocks.
Sharp jump in net profits
Asian Paints surprised the markets with a near 37 per cent jump in consolidated net profit to Rs 327 crore for the second quarter ended September 30. The company had posted a consolidated net profit of just Rs 239 crore in the same period of previous fiscal.
The share price jumped following Q2 numbers which were way ahead of street estimates.
Record losses for Q2 FY 2014
Jet Airways surprised the market negatively with a poor set of numbers with losses hitting a new record of Rs 891 crore for the quarter ended Sept 20. The stock is likely to fall in trade today once the market opens for trade today.
Q2 numbers beat street estimates
Larsen and Toubro reported a net profit of Rs 978 crore for the three months to September 30, as against analysts estimate of around Rs 880 crore.
Better margins helped profitability and the stock has risen almost 10% since the declaration of its results.
Higher interest income boosts profitability
Yes Bank reported a jump in net profit to Rs 371.1 crore, an increase of more then 21% against the corresponding period last year, aided by higher interest income and growth in non-interest income. The stocks has risen steadily and is trading at the highest level in the last few weeks.
Sluggish demand during monsoon season
UltraTech Cement reported a 52 per cent drop in net profit for the second quarter of 2013-14 at Rs.264 crore. This profitability was way below analysts estimate and the drop was largely on account of the sluggish demand for cement during the monsoon season.