Page 25 - Corporate Earnings

JK Paper Q2 results: Net down 57.84% at Rs 128.85 cr on higher expenses

JK Paper Ltd on Monday reported a 57.84 per cent decline in consolidated net profit to Rs 128.85 crore in the second quarter ended September 30, 2024, impacted by higher expenses. The company had posted a consolidated net profit of Rs 305.68 crore in the same quarter last fiscal, JK Paper Ltd said in a regulatory filing. Consolidated total income in the second quarter stood at Rs 1,714.88 crore as against Rs 1,708.81 crore in the year-ago period, it added. Total expenses were higher at Rs 1,569.63 crore as against Rs 1,368.23 crore in the same period a year ago, the company said.

Tube Investments Q2 results: Net profit down 13.6% at Rs 299.17 crore

Murugappa group firm Tube Investments of India Ltd on Monday reported a 13.6 per cent decline in consolidated net profit at Rs 299.17 crore in the September 2024 quarter, hit by higher expenses. The company posted a consolidated net profit of Rs 346.19 crore in the same quarter last fiscal, Tube Investments of India Ltd (TIIL) said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 4,782.51 crore compared to Rs 4,169.26 crore in the year-ago period, it added. Total expenses in the second quarter were higher at Rs 4,569.19 crore against Rs 3,868.46 crore a year ago. On a standalone basis, revenue in Q2 stood at Rs 2,065 crore from Rs 1,970 crore in the same period of the previous year, it said. In the second quarter, the engineering division clocked a revenue of Rs 1,323 crore compared to Rs 1,274 crore in the corresponding period in the preceding fiscal. Metal-formed products revenue was higher at Rs 404 crore, up from Rs 400 cror

Canara Bank aims Rs 6,000 cr recovery in H2 FY25, expect Rs 3,000 cr in Q3

State-owned Canara Bank aims to recover about Rs 6,000 crore from bad loans during the second half of the current fiscal. "We are anticipating recovery somewhere about Rs 3,000 crore in the third quarter and a similar amount in the fourth quarter," Canara Bank managing director and CEO K Satyanarayana Raju told PTI. The bank has recovered Rs 2,905 crore, including recovery in written-off accounts, in the second quarter. Slippages would be much less than recovery as the bank would be underwriting good loans, Raju said. Asked about the initial public offering (IPO) of Canara Robeco Asset Management Company, he said it may happen in the fourth quarter of this financial year. The approval from the finance ministry for the IPO of Canara Robeco Asset Management Company (AMC) is expected shortly. The lender holds a 51 per cent stake in the mutual fund. It plans to offload a 13 per cent stake through IPO. Last December, Canara Bank gave an in-principle approval to start the process of l

Exxon, Chevron beat analysts' estimates on Permian oil supply boost

Exxon's third-quarter adjusted earnings exceeded expectations by a nickel on Friday, while Chevron surpassed estimates by 11 cents

New India Assurance Q2 results: PAT at Rs 71 cr, total income up 2.5%

New India Assurance on Wednesday reported a net profit of Rs 71 crore for the second quarter ended September 2024. The state-owned general insurer had booked a net loss of Rs 200 crore in the year-ago period. The total income of the Mumbai-based entity rose to Rs 10,090 crore from Rs 9,839 crore in the year-ago period, New India Assurance said in a regulatory filing. The company's written gross premium also rose to Rs 9,620 crore in the second quarter of this fiscal compared to Rs 9,397 crore a year ago. Its net premium collection increased to Rs 8,067 crore against Rs 7,894 crore in the same quarter a year ago, it said. However, the total expenditure of the company during the period under review declined to Rs 10,577 crore from Rs 10,628 crore in the year-ago period.

Unity Small Finance Bank Q2: Net profit rises 36% to Rs 187 crore

Unity Small Finance Bank on Wednesday reported a 36 per cent rise in its profit to Rs 187 crore in the second quarter ended September 2024. The lender had earned a net profit of Rs 138 crore in the same quarter in the previous financial year. Total income increased to Rs 640 crore during the quarter under review against Rs 361 crore in the same quarter last year, the bank said in a statement. Its net interest income grew to Rs 320 crore over Rs 232 crore in FY24. The capital adequacy ratio of the bank promoted by Centrum Group stood at 29 per cent, it added.

Redington Q2 results: Net profit down at Rs 282.88 cr, total income rises

Integrated technology solutions provider Redington Ltd has reported consolidated profits for the July-September 2024 quarter at Rs 282.88 crore, following growth led by good performances across all business units, the company said on Wednesday. The city-based company had registered consolidated profits of Rs 311.64 crore during the corresponding quarter of last financial year. For the six month period ending September 30, 2024 the consolidated profits stood at Rs 499.92 crore, as against Rs 566.84 crore registered in the year ago period. The consolidated total income during the quarter under review grew to Rs 24,962.22 crore, from Rs 22,296.69 crore registered in the year ago period. For the half-year ending September 30, 2024 the consolidated total income surged to Rs 46,287.61 crore, from Rs 43,547.29 crore registered in the year ago period. Commenting on the financial performance, company Group CEO V S Hariharan said, "In Q2 FY25, our growth has been led by good performances acr

GHCL Q2 results: PAT rises 8% to Rs 154.83 cr, total income at Rs 810 cr

Chemical firm GHCL Ltd has posted an 8 per cent increase in its consolidated net profit to Rs 154.83 crore for the quarter ended September. Its net profit stood at Rs 142.84 crore in the year-ago period. Total income declined to Rs 810.23 crore in the July-September period of this fiscal from Rs 816.65 crore in the corresponding period of the preceding year, according to a regulatory filing on Tuesday. GHCL Limited is engaged in the manufacture of soda ash (Anhydrous Sodium Carbonate). Through a demerger, it has separated its spinning business into GHCL Textiles Ltd. "We are glad to report a resilient Q2 performance, with a clear focus on operating excellence. Realizations stayed tempered during the quarter despite some increase in net imports of soda ash," R S Jalan, Managing Director of GHCL, said. Going forward, globally, the pricing may remain range-bound as industry challenges have not yet fully resolved and potential risks persist due to the ongoing geopolitical situations,

Carborundum Universal Q2 results: Net profit grows to Rs 116.16 crore

Abrasives manufacturer Carborundum Universal Ltd (CUMI) has reported a consolidated net profit for the July-September 2024 quarter at Rs 116.16 crore following sales growth in electro minerals, ceramic segments, the company said on Wednesday. The city-based company, part of the diversified conglomerate Murugappa Group had registered a net profit after tax of Rs 103.88 crore during the corresponding quarter of last financial year. For the six months period ending September 30, 2024, net profit after tax grew to Rs 231 crore, as compared to Rs 221.64 crore registered a year ago. The consolidated total income during the quarter under review went up to Rs 1,235.45 crore, from Rs 1,165.98 crore recorded during the same quarter of last financial year. For the half year ending September 30, 2024, the consolidated total income remained flat at Rs 2,440.01 crore, as against Rs 2,400.11 crore registered in the year ago period. In a statement on Wednesday, the company said that the consolida

Dabur Q2 results: PAT down 17.6% to Rs 417.5 cr, revenue declines 5%

Homegrown FMCG major Dabur India Ltd on Wednesday reported a decline of 17.65 per cent in its consolidated net profit to Rs 417.52 crore in the September 2024 quarter. The company had posted a net profit of Rs 507.04 crore in the July-September quarter a year ago, Dabur India said in a regulatory filing. Its revenue from operations slipped 5.46 per cent to Rs 3,028.59 crore during the quarter under review. It was Rs 3,203.84 crore in the corresponding quarter of the previous fiscal. Dabur India's total expenses were at Rs 2,634.40 crore, down 1.31 per cent in the September quarter. "Despite a challenging demand environment marked by high food inflation and a resultant squeeze in urban demand, Dabur continued to drive consumer engagement across its key brands to end the second quarter of 2024-25 with a consolidated revenue of Rs 3,029 crore," Dabur said in its earnings statement. Shares of Dabur India Ltd settled 2.07 per cent higher at Rs 546.95 on the BSE.

P&G Hygiene sep quarter results: PAT rises marginally to Rs 212 crore

Procter & Gamble Hygiene & Health Care's net profit increased marginally to Rs 211.90 crore in September 2024 quarter as against Rs 210.69 crore posted in September 2023 quarter.

Aditya Birla Capital Q2 results: Net profit rises 42% to Rs 1,001 crore

Aditya Birla Capital on Wednesday reported a 42 per cent increase in consolidated net profit to Rs 1,001 crore in the second quarter ended September 2024. The financial services arm of Aditya Birla Group earned a net profit of Rs 705 crore in the same quarter in the previous financial year. The consolidated profit after tax includes a gain of Rs 167 crore on sale of entire stake of 50 per cent in Aditya Birla Insurance Brokers Limited, Aditya Birla Capital Ltd said in a regulatory filing. The total income increased to Rs 10,362 crore during the quarter under review against Rs 7,615 crore in the same quarter last year, it said. Its interest income rose to Rs 4,141 crore compared to Rs 3,444 crore in the same quarter a year ago. Total expenses also increased to Rs 9,034 crore during the second quarter as regards Rs 6,671 crore in the same period previous year. The total Asset Under Management (AMC, life insurance and health insurance) grew by 24 per cent to Rs 5,01,152 crore as on

American CEOs say this is as bad as it gets for corporate earnings

A broadening becomes especially important for the rally's progress now that megacap tech companies are projected to show slowing profit growth, on average

Record-breaking real estate IPOs in India raise Rs 13,500 cr in 2024 so far

123 IPOs listed till October 20 this year

Hitach Energy India Q2 results: Net profit rises 111% to Rs 52 crore

Hitachi Energy India on Tuesday posted over 111 per cent jump in net profit to Rs 52.3 crore in the September quarter, mainly due to higher revenues. The company had reported a net profit of Rs 24.7 crore in the quarter ended on September 30, 2023, according to a company statement. According to the statement, the revenue for the July-September 2024 quarter was Rs 1,553.8 crore, 26.5 per cent higher than Rs 1,228.2 crore a year ago on the back of a favourable mix and good order execution during the quarter. In the quarter ended September 30, 2024, the orders totalled Rs 1,952 crore, up 11.7 pe cent year-on-year from Rs 1,747.1 crore in July-September 2023. Renewables led the charge -- from studies across utilities, power quality and substation projects. Expansion, upgrades and improved efficiency also resulted in orders from existing power plants, it stated. The service portfolio witnessed substantial year-on-year growth of 65 per cent. Orders included comprehensive overhauling of

HT Media Q2 results: Loss narrows down to Rs 6.33 cr, revenue up 7.55%

HT Media Ltd on Tuesday reported a narrowing down of its consolidated net loss to Rs 6.33 crore for the September quarter. The company had posted a net loss of Rs 56.95 crore in the year-ago period, according to a regulatory filing from HT Media. Its revenue from operations was up 7.55 per cent to Rs 423.75 crore in the September quarter from Rs 393.99 crore in the corresponding period last year. HT Media's total expenses in the September quarter were up 2.44 per cent to Rs 488.67 crore. Its total income, which includes other income, in the September quarter, was at Rs 479.28 crore, up 12.24 per cent. Commenting on the result HT Media Chairperson Shobhana Bhartia said, "The second quarter of the current fiscal saw an improvement in the overall performance of your company. Our revenue grew and operating profitability increased." "This performance can be attributed to our focused efforts on pricing, cost management and efficiency as well as a conducive business environment," she ..

Voltas Q2 results: Net profit increases over two-fold to Rs 133 crore

Air-conditioning maker and engineering services provider Voltas Ltd on Tuesday reported more than two-fold jump in consolidated net profit to Rs 132.83 crore for the September quarter. The increase was led by a 56 per cent volume growth from its room AC business. It had posted a consolidated net profit of Rs 35.65 crore in the July-September period a year ago, the company said in a regulatory filing. Voltas' revenue from operations was up 14.23 per cent to Rs 2,619.11 crore during the quarter under review from Rs 2,292.75 crore in the year-ago period. Total expenses of Voltas increased 10.74 per cent to Rs 2,486.89 crore in the September quarter. Voltas' total income, which includes other income, was up 16.53 per cent in the September quarter to Rs 2,754.58 crore. Shares of Voltas Ltd on Tuesday settled at Rs 1,770.50 on the BSE, up 0.47 per cent from the previous close.

Anant Raj Q2 results: Net profit increases 76% to Rs 105.58 crore

Realty firm Anant Raj Ltd's consolidated net profit rose 76 per cent to Rs 105.58 crore in the second quarter of this fiscal and it plans to raise up to Rs 2,000 crore through the issue of securities to institutional investors. Its net profit stood at Rs 60.10 crore in the year-ago period. Total income rose to Rs 523.75 crore in the July-September period of this fiscal from Rs 340.83 crore in the corresponding period of the preceding year, according to a regulatory filing on Monday. The company's board approved the issuance of equity shares or other convertible securities by way of Qualified Institutions Placement (QIP) for an aggregate consideration not exceeding Rs 2,000 crore only. The board also approved the issue and allotment of fully convertible warrants, each carrying a right exercisable by the warrant holder to subscribe to one equity share of face value of Rs 2 each to the persons belonging to the promoter and promoter group on a preferential basis, aggregating up to Rs 1

Deepak Fertilisers Q2 results: Net profit soars over 3-fold to Rs 214 cr

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) reported a more than three-fold surge in second-quarter profit at Rs 214.07 crore on Tuesday, driven by strong sales growth across its business segments. The fertiliser maker's consolidated net profit stood at Rs 63.45 crore in the same quarter in the previous fiscal year. Revenue from operations rose 12.7 per cent to Rs 2,753.59 crore, while total expenses increased 5.5 per cent to Rs 2,454.92 crore. Separately, the company said it has appointed Subhash Anand, currently serving as President (Strategy), as its new President and Chief Financial Officer effective December 1. Shares of DFPCL closed 11.1 per cent higher at Rs 1,256.05 apiece on the BSE.

L&T Q2 results preview: Profit may rise up to 19% YoY; margins could shrink

L&T Q2 results preview: The engineering, procurement and construction (EPC) major's core revenue is expected to have grown in Q2FY25 as its domestic execution normalises