The Mint Report for 19 April 2010

The Mint Report for 19 April 2010
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First Published: Mon, Apr 19 2010. 11 51 PM IST
Updated: Mon, Apr 19 2010. 11 51 PM IST
TCS unveiled impressive numbers on Monday. India’s largest software company beat street-expectations by posting a profit of 2,001 crores. That’s an increase of 50.1% over last year’s fourth quarter. Revenues climbed 7.9% to 7,738 crores during the same period. TCS has won several big deals in recent times including one from the UK government to run a pension scheme.
Also in corporate numbers, Hero Honda’s fourth quarter numbers have speeded ahead. Net profit shot up 49% to nearly Rs599 crore compared to the same period a year ago. And net sales climbed to more than Rs4,092 crore from around Rs3,412 crore in the same quarter in 2009. Hero Honda’s numbers were helped by high margins, which currently stand at 17.2%. But it says higher commodity prices, inflation, and interest rates could hit future numbers. The company is hoping to offset those pressures with greater volumes. Hero Honda sold 4.6 million bikes in 2009-10. It plans to take that number up to 5 million this fiscal.
With just a day to go before its annual policy review, the RBI provided some indication of what it plans to do. In a document released Monday, it said monetary policy for the current fiscal would focus on dealing with inflationary expectations. The statement was in line with expectations. Most economists and bankers say they expect the RBI will increase both policy rates and the cash reserve ratio this Tuesday.
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First Published: Mon, Apr 19 2010. 11 51 PM IST