TopNews

GSK India reported lackluster Q3CY10 with sales growth of 14% with EBITDA margins declining 104bps leading to tepid 11% growth in EBITDA. Lower depreciation & higher interest income boosted recurring PAT growth of 12%.

Sales growth driven by vaccines and focus brands Vaccines has grown 34% and accounted for 8% of the sales for the quarter on the back of improved traction of Rotavirus and Cervarix. Pharma sales growth (ex vaccines) at c13% appears moderate given the strong +20% growth in the Indian pharma market during the JAS’10 quarter. Key brands like Calpol (paracetamol), Augmentin (anti biotic) and Neosporin (Eye drops) grew by 15%.

Colgate’s Q2FY11 numbers were below our expectation. Net sales grew 13%, led entirely by volume growth. Gross margins expanded by 261bps mainly on merger of Professional Oral Care (POC) and CC healthcare (CC). Excluding this, gross margins were flat. EBITDA margins improved marginally (+78bps) on higher staff (+196bps) and other expenses (+242bps). Higher depreciation and taxes translated into 12% PAT growth.

Monnet Ispat's standalone revenue at Rs3.6bn grew 15% YoY on improved realisations. Consequently, operating profit at Rs1.05bn rose 9% YoY, although OPM declined by 169bps YoY to 29% due to increase in raw material costs. Net Profit was flat at Rs656mn.

Merchant power: The company sold 198mn units of power at an average tariff/unit of Rs4.3 (vs Rs4.9 in Q1FY11, Rs4.2 in Q2FY10).

Expansion Update: Monnet's proposed 1.4 mn tonnes structural steel plant is expected to get completed by FY13 with gradual increase in capacities Q4FY11 onwards.

Kim Kardashian, the hot babe, who just turned 30 on the 21st of October 2010, has been on a binge, going absolutely on the party, and more party way, with her 7th birthday bash, going absolutely to the paparazzi , who happily clicked pics of the hot babe, reportedly in an all black ensemble, while she and her family entered the venue of the bash.

The shutter bugs went berserk, and were so happy to get Kim looking quite happy and in full swing to party hard, that it seemed as if this was the actual party that Kim was hosting for her birthday.

Numerous Taylor Swift fans thronged at the Madame Tussauds in Time Square to witness the unveiling of the wax figurine of famous country singer Taylor Swift. The singer herself was present at the venue to inaugurate the wax figure. As people were waiting for the celebrity country singer to arrive, loudspeakers played songs from her latest album 'Speak Now' and the fans sang along. The TV crews, paparazzi and the photographers went berserk.

Hexaware’s revenue grew by a robust 11.2%QoQ to USD61.1mn. EPS was Rs2.8 (including exceptional item). USD revenue guidance for Q4CY10 is 4.7-6.4%QoQ growth to USD64-65mn.

Strong volume led revenue growth, PAT boosted by exceptional item US and BFSI outperforms; TTHL surprised positively Sharp growth in EAS and analytics indicate uptick in discretionary IT spend Healthy new client addition; top clients ramp up