Page 27 - Corporate Earnings

Renault posts forecast-beating 1.8% rise in Q3 sales amidst strong demand

Revenues came in at 10.7 billion euros ($11.55 billion), up 1.8 per cent from a year earlier and beating an analysts' consensus forecast of 10.35 billion euros provided by the company

Piramal Pharma Q2FY25 results: Net profit jumps over 4-fold to Rs 23 crore

Piramal Pharma on Thursday reported over four-fold increase in consolidated net profit at Rs 23 crore for the second quarter ended September. The Mumbai-based company had reported a net profit of Rs 5 crore in the July-September quarter of last fiscal. Revenue from operations rose to Rs 2,242 crore in the second quarter as compared with Rs 1,911 crore in the year-ago period, Piramal Pharma said in a statement. "We continue our momentum of delivering healthy revenue growth accompanied by YoY EBITDA margin expansion. This has been primarily driven by consistent growth in our CDMO business which has witnessed a good pick-up in innovation-related work and on-patent commercial revenues," Piramal Pharma Chairperson Nandini Piramal said. To sustain this growth momentum and to capitalise on rising demand for sterile fill-finish capabilities, the company has announced a USD 80 million expansion plan at the Lexington facility which is expected to be completed by the FY27 end, she added. "In

ICICI Bank Q2 results preview: Analysts peg net profit growth at 7% YoY

ICICI Bank Q2 results preview: ICICI Bank is scheduled to report its July-September quarter (Q2) results on Saturday, October 26, 2024

Shiprocket loss widens to Rs 595 cr in FY24 on restructuring costs

Logistics aggregator Shiprocket has reported widening of loss to Rs 595 crore in the financial year 2024 on account of one-time restructuring cost, employee stock ownership plan and investments in emerging business. Shiprocket had posted a loss of Rs 340 crore in the fiscal year 2022-23. "Rs (-) 595 crore profit after tax is attributed to: One-time restructuring and integration costs of Rs 244 crore related to acquired businesses, significant ESOPs worth Rs 192 crore during the year, investment in emerging businesses," Shiprocket said in a statement. Shiprocket said that the company has reduced cash flow burn by almost half to Rs 100 crore in FY'24 from Rs 191 crore in FY'23 and is on path to full profitability in the current fiscal year. "The company also announced that the first two quarters of this financial year ending September 2024 are already profitable, positioning it well ahead of its goal to achieve full profitability by FY 2025," the statement said. The revenue of the .

Schaeffler India Q3 results: Net profit marginally grows to Rs 236.41 crore

Schaeffler India on Wednesday said its consolidated Profit After Tax grew marginally to Rs 236.41 crore in the July-September quarter of this year, from Rs 232.76 crore a year ago. Revenue from operations during the reporting quarter, however, rose 14 per cent to Rs 2,116.3 crore in the third quarter of 2024, from Rs 1,853.6 crore in the year-ago period, the company said in a regulatory filing. Schaeffler India follows the January-December financial year. "Our domestic business continued its growth momentum as we progressed into the second half of the year. "Despite a challenging market environment, the automotive technologies and bearings and industrial solutions business showed an upward trend," Harsha Kadam, Managing Director and CEO at Schaeffler India said in a statement. The sustained quality of earnings reflects the company's constant focus on cost management and realization of financial and operating margins, he added.

United Spirits Q2 results: Net profit marginally rises to Rs 341 crore

Alcoholic beverages maker United Spirits Ltd on Wednesday reported a marginal increase in consolidated net profit at Rs 341 crore in the second quarter ended September 30, 2024 impacted by a softer-than-expected demand environment. The company had posted a consolidated net profit of Rs 339 crore in the same quarter of the last fiscal, United Spirits Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 6,672 crore, as against Rs 6,737 crore in the year-ago period, the company said. Total expenses were lower at Rs 6,264 crore in the July-September quarter, as compared to Rs 6,362 crore in the second quarter of the previous fiscal, it added. "It is a muted quarter amidst a softer-than-expected demand environment," United Spirits CEO & Managing Director Hina Nagarajan said. She, however, said the company remains buoyant entering the festive season on the back of structural tailwinds including the reopening of the business in the

Birlasoft Q2 results: PAT declines 12% to Rs 127.5 cr, revenue up 4%

IT services and solutions provider Birlasoft on Wednesday reported a 12.06 per cent year-on-year decline in consolidated net profit to Rs 127.5 crore for the quarter ended September 30, 2024. It had reported a net profit of Rs 145 crore in the year-ago period, according to a stock exchange filing. On a quarter-on-quarter basis, profits fell 15.11 per cent from Rs 150.2 crore in the April-June period. Revenue for the reporting quarter came in at Rs 1,368.2 crore, an uptick of 4.45 per cent from Rs 1,309.8 crore in Q2 FY24. Revenues rose 3.07 per cent sequentially. "This (revenue growth) was driven by ramp-ups in some projects that were earlier delayed, better account mining and incremental business from consolidation deals where we have gained wallet share. "The investments that we have been making to enhance our tech and domain capabilities as well as partnerships, which we believe is key for future growth, have already begun to see some early results reflected in a noticeable ...

Pidilite Industries Q2 results: Net profit rises 17.8% to Rs 540.3 crore

Pidilite Industries Ltd on Wednesday reported an increase of 17.83 per cent in consolidated net profit at Rs 540.30 crore for the second quarter ended September 30, 2024 helped by benign input prices and volume growth. The company, which manufactures adhesives, sealants and construction chemicals, had logged a profit of Rs 458.53 crore in the July-September period a year ago, the company said in a regulatory filing. Its revenue from operations was up 5.16 per cent at Rs 3,234.91 crore during the quarter under review. It was at Rs 3,076.04 crore in the corresponding quarter a year ago. Pidilite Industries' total expenses was at Rs 2,565.71 crore, up 3.26 per cent in the September quarter. Total income of Pidilite Industries, which includes other income, was up 5.93 per cent to Rs 3,292.03 crore. The current quarter's revenue growth is aided by a UVG (Underlying Volume Growth) of 8 per cent, said Pidilite Industries in its earnings statement. "Input prices remained benign, resultin

Sona Comstar Q2 results: Net profit increases 16% to Rs 143.57 crore

Auto components maker Sona BLW Precision Forgings (Sona Comstar) on Wednesday reported a 16 per cent year-on-year growth in consolidated Profit After Tax (PAT) at Rs 143.57-crore for the quarter ended September 30, 2024. The company had posted a net profit of Rs 124.06 crore in the second quarter of FY24, according to a regulatory filing. Revenue from operations for the quarter under review was Rs 922.18 crore, up 17 per cent from Rs 787.46 crore during Q2FY23, as per the filing. Revenue share from Battery Electric Vehicles (BEV) stood at 36 per cent, while the BEV revenue grew 53 per cent year-on-year during the July-September period of the current fiscal, it said. It also said that the net order book stood at Rs 23,100 crore as of September 30, 2024. "We have continued to progress on all our key strategic priorities," said Vivek Vikram Singh, Managing Director and Group CEO at Sona BLW Precision Forgings. Sona Comstar also announced a signing pact with Escorts Kubota Ltd (EKL)

SBI Life Insurance Q2 results: Net profit jumps 39% to Rs 529 crore

SBI Life Insurance on Wednesday reported a 39 per cent increase in net profit at Rs 529 crore for the second quarter ended September 30 of this fiscal. The insurer had posted a profit of Rs 380 crore in the July-September quarter of the last financial year. Total income of the insurance firm promoted by State Bank of India rose to Rs 40,015 crore during the quarter under review, as compared to Rs 28,569 crore in the same period a year ago. The company collected a net premium of Rs 20,266 crore in the July-September period, up from Rs 20,050 crore in the year-ago period. The first-year premium was Rs 4,916 crore, as against Rs 4,633 crore in the July-September period of last fiscal. Its assets under management climbed 28 per cent to Rs 4.4 lakh crore as of September 30, 2024. The solvency ratio was 204 per cent at the end of September, as against the regulatory requirement of 150 per cent. The company's net worth increased by 16 per cent from Rs 13,970 crore as on September 30, 2

Heritage Foods' Q2 results: Net profit surges two-fold to Rs 48.63 crore

The company posted a consolidated profit of Rs 48.63 crore ($5.8 million) in the three months ended Sept. 30

Bajaj Finserv Q2 net profit rises 8% to Rs 2,087 cr; interest income jumps

Revenue increased by 30% to Rs 33,704 cr, says holding company of Bajaj group's financial services and insurance businesses

Godrej Properties Q2FY25 result: PAT jumps 5-fold to Rs 335.21 crore

Realty firm Godrej Properties on Wednesday reported a five-fold jump in its consolidated net profit to Rs 335.21 crore for the quarter ended September on higher income. Its net profit stood at Rs 66.80 crore in the year-ago period. Total income more than doubled to Rs 1,346.54 crore in the second quarter of this fiscal from Rs 605.11 crore in the corresponding period of the previous year, according to a regulatory filing. Pirojsha Godrej, Executive Chairperson, Godrej Properties Ltd, said the company delivered a robust second quarter with its highest-ever Q2 and H1 bookings, collections, operating cashflows, and deliveries. "With bookings growth of 56 per cent in FY23, 84 per cent in FY24 and 90 per cent in H1 FY25, Godrej Properties has reset its scale," he added. The benefit of this is visible in the company's cash flows with collections growth of 68 per cent and operating cash flow growth of 125 per cent in the September quarter, Pirojsha said. "With a robust launch pipeline,

Coforge Q2FY25 results: Net profit rises nearly 12% to Rs 202.3 crore

IT solutions company Coforge reported an 11.7 per cent year-on-year increase to Rs 202.2 crore in consolidated net profit for the quarter ended in September. It had posted a net profit (attributable to owners of the company) of Rs 181 crore in the year-ago period, according to a stock exchange filing. Revenue from operations for the quarter under review stood at Rs 3,062.3 crore, a 34.5 per cent rise from Rs 2,276.2 crore in Q2 FY24. Its profit and revenue jumped 51.8 per cent and 27.5 per cent, respectively. The Noida-headquartered firm added 5,871 staff during the quarter, including 4,430 from its acquisition of Cigniti. This brings its total employee count to 32,483. "The growth and the margin expansion at Cigniti are a preview of sustained growth and further increases in margin to follow. We have operationally fully integrated the Cigniti team and the synergies have exceeded even our expectations," said Sudhir Singh, CEO and Executive Director, Coforge. The company's board ..

Adani Green Energy Q2 results: Net profit up nearly 39% to Rs 515 crore

Adani Green Energy Solutions on Tuesday posted nearly 39 per cent rise in its consolidated net profit to Rs 515 crore in September quarter compared to a year ago mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 371 crore in the quarter ended on September 30, 2023, a BSE filing said. Total income of the company rose to Rs 3,376 crore in the quarter from Rs 2,589 crore in the same period a year ago.

Persistent Systems Q2 results: Net profit grows 23% to Rs 325 crore

IT services firm Persistent Systems has reported a 23.44 per cent increase in consolidated net profit to Rs 324.9 crore in the September 2024 quarter. The company's profit stood at Rs 263.2 crore in the year-ago period. Revenue from operations for the quarter under review was Rs 2,897.1 crore, up 20.13 per cent from Rs 2,411.6 crore in the quarter-ended September FY24. "This quarter, we continued to strengthen our capabilities and advance our AI-led, platform-driven services strategy. We brought on Starfish Associates to elevate our AI-powered contact center modernisation; the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance and cybersecurity," its CEO and Executive Director Sandeep Kalra said. During the quarter, the order booking was USD 529 million (around Rs 4,447 crore) in Total Contract Value (TCV) terms. The Pune-headquartered firm has a global headcount of more than 23,200 employees, with 19,899 staff in ...

Shoppers Stop Q2 results: Net loss at Rs 20.59 crore on sluggish demand

The department store chain saw subdued demand during the second quarter due to fewer wedding dates, extended rains and overall weak discretionary spending, its CEO Kavindra Mishra said

Bajaj Finance Q2 results: Net profit at Rs 4,041 crore, misses estimates

Consolidated numbers include the non-banking financial company's (NBFC) subsidiaries, Bajaj Housing Finance and Bajaj Financial Securities

GE Aerospace raises profit forecast on strong demand for aftermkt services

Production issues at Boeing and Airbus have led to slower delivery of newer planes, troubling the airline industry, which is seeing unprecedented demand for air travel

Adani Energy Solutions Q2 results: Net profit jumps three-fold to Rs 773 cr

Adani Energy Solutions Ltd on Tuesday posted a nearly 3-fold jump in its consolidated net profit to Rs 773.39 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 284.09 crore in the quarter ended on September 30, 2023, according to a regulatory filing. Its total income surged to Rs 6,359.80 crore during the period under review against Rs 3,766.46 crore in the same quarter a year ago.