Results Update

JPMorgan Chase has announced its first quarter results. The company's Q1 revenues are up at USD 25.03 billion versus USD 16.89 billion.
Its net profit was down at USD 2.14 billion versus USD 2.37 billion.

Biocon is to declare its fourth quarter results. According to CNBC-TV18 estimates, the company’s Q4 FY09 consolidated net sales are seen up 74% at Rs 463 crore versus Rs 266.63 crore.
Its operating profit is seen at Rs 102 crore versus Rs 82.5 crore.
Its OPM is seen 22% versus 31%
The company’s net profit is seen down 34% at Rs 43 crore versus Rs 65.30 crore.
Factors to watch for:
1. Revenue growth supported by Axicorp acquisition
2.Expect scale up in BMS contract
3. Rupee depreciation to help contract research and manufacturing business
4. Licensing income to drop
5. May see MTM losses on forex hedging.

Sesa Goa is to announce its fourth quarter results. According to CNBC-TV18 estimates, the company’s Q4 FY09 net sales are seen down 15% at Rs 1455 crore versus Rs 1705 crore.
Its operating profit is seen down at Rs 729 crore versus Rs 1217 crore.
The company’s net profit is seen down 30% at Rs 569 crore versus Rs 813.6 crore.
Factors to watch for:
1.Margins to improve QoQ due to withdrawal of export duty
2.Weaker rupee to contribute to higher profits
3.Expect iron ore volumes in this qtr to be 6 mn tons ( of which 66% will be exports to China)
4.Sesa Goa to be key beneficiary of steel demand uptick in China
5.Larger players SesaGoa will gain market share as small private miners turn unprofitable and shut down
6.Management is looking to add 500 mt in iron ore recourses over next 2-3 years
7.The company has Rs 3200 crore of cash
8.It is debt free company