Page 32 - Corporate Earnings

Tata Chemicals Q1FY25 results: PAT down 72% at Rs 150 cr on lower income

Tata Chemicals on Monday reported a 72 per cent decline in its consolidated net profit to Rs 150 crore for the first quarter of this fiscal year. Its net profit stood at Rs 532 crore in the year-ago period. Total income also declined to Rs 3,836 crore in the April-June period of 2024-25 from Rs 4,267 crore in the corresponding period of the previous year, according to a regulatory filing. Total expenses increased to Rs 3,621 crore from Rs 3,527 crore during the period under review.

Bharti Hexacom Q1 results: PAT almost doubles to Rs 511 cr, revenue up 14%

Telecom operator Bharti Hexacom, which operates under the Airtel brand, reported over two-fold jump in its profit to Rs 511.2 crore in the first quarter ended on June 30, 2024, compared to Rs 253.2 crore in the same period a year ago. Total revenues of Bharti Hexacom increased by 14 per cent on a year-over-year basis to Rs 1,910.6 crore during the reported quarter from Rs 1,681.7 crore a year ago. Mobile revenues grew by 12.9 per cent Y-o-Y on the back of improved realisation and sustained customer additions. The Average revenue per user (ARPU), a key matrix to determine telecom operators' growth, for the quarter increased to Rs 205 from Rs 194 a year ago driven by continued mix improvement and focus on quality acquisitions. "We added 2.8 million smartphone customers to our network over last year, an increase of 16.3 per cent YoY. We continue to deliver industry-leading ARPU along with growing average data usage per customer at 25.7 GB per month. We rolled out 268 network towers an

Tamilnad Mercantile Bank Q1 results: Net profit rises 9.9% to Rs 287.29 cr

Over century-old private sector Tamilnad Mercantile Bank has recorded a 9.97 per cent rise in its net profit for the April-June 2024 quarter at Rs 287.29 crore on account of rise in interest income. The Tamil Nadu-based bank had registered a net profit of Rs 261.23 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the net profit stood at Rs 1,072.03 crore. Total income during the April-June 2024 quarter went up to Rs 1,046.03 crore from Rs 942.98 crore registered in the year ago period. For the financial year ending March 31, 2024 the total income stood at Rs 5,492.85 crore. According to a press release, the bank's deposits rose to Rs 49,188 crore during the April-June 2024 quarter, from Rs 47,008 crore registered in the same quarter of last year. The advances of the bank has increased to Rs 40,853 crore with a growth of 10 per cent year-on-year basis. The Net Interest Income stood at Rs 567 crore for the April-June 2024 quarter, a

Utkarsh Small Finance Bank Q1 results: Net profit jumps 28% to Rs 137 cr

Utkarsh Small Finance Bank on Saturday posted a 28 per cent increase in its profit at Rs 137 crore in the first quarter ended June 30. The bank had earned a net profit of Rs 107 crore in the same quarter a year ago. Total income increased to Rs 1,071 crore during the quarter under review against Rs 812 crore in the same period last year, the bank said in a regulatory filing. The interest income of the bank rose to Rs 966 crore as against Rs 720 crore in the first quarter of previous year. As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 2.78 per cent of the gross loans by the end of June 2024 from 3.13 per cent a year ago. Similarly, net NPAs came down to 0.26 per cent from 0.33 per cent at the end of the first quarter of the previous fiscal. The provision coverage ratio, including floating provision, was 91 per cent as on June 30, 2024.

Rane Holdings Q1 result: PAT up 61.2% at Rs 19.5 cr, revenue at Rs 837.4 cr

Rane Holdings Ltd, the holding company of the diversified conglomerate Rane Group has reported a 61.2 per cent rise in its profit after tax for the April-June 2024 quarter at Rs 19.5 crore. The city-headquartered company had registered a profit after tax of Rs 12.1 crore during the corresponding quarter of last year. Total revenue during the quarter under review fell by 6.71 per cent to Rs 837.4 crore, from Rs 897.7 crore registered in the year ago period. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 79.8 crore for the April-June 2024 quarter as against Rs 80.9 crore registered year ago. EBITDA margin during the June-quarter was 9.5 per cent as against 9 per cent recorded in the same quarter of last year. Revenue from the domestic original equipment (OE) customers grew 9 per cent during the quarter under review supported a strong growth in the passenger vehicle segment. Revenues from international customers predominantly decreased by 17 p

Eveready Industries Q1 results: PAT rises 18% to 29.3 cr, revenue dips 4%

Battery and flashlights maker Eveready Industries India Ltd on Saturday reported an increase of 18.1 per cent in its consolidated net profit at Rs 29.36 crore in the first quarter ended June 2024. The company had posted a net profit of Rs 24.86 crore in the April-June period a year ago, according to a regulatory filing from the Burman family promoted firm. However, its revenue from operations was down 3.9 per cent to Rs 349.37 crore during the quarter under review. The revenue was at Rs 363.57 crore in the year-ago period. "PAT was higher by 18.1 per cent over Q1 of last year mirroring the strong operating trend for the quarter," said Eveready Industries in its earnings statement. Total expenses of Eveready Industries has decreased 6.48 per cent to Rs 314.18 crore in the June quarter. Eveready Industries' total income in the June quarter was down 4.6 per cent to Rs 349.59 crore. "Revenue growth for the quarter was contained by several factors, including a high base effect, slower

JK Tyre Q1 result: PAT rises 37% to Rs 211 cr, total income at Rs 3,655 cr

JK Tyre & Industries on Saturday reported a 37 per cent year-on-year increase in consolidated net profit at Rs 211 crore in the first quarter ended June 30, 2024. The tyre maker has reported a net profit of Rs 154 crore for the April-June quarter of last fiscal. Total income declined to Rs 3,655 crore for the period under review from Rs 3,726 crore in the June quarter of FY24, JK Tyre said in a regulatory filing. "We continue to deliver profitable growth with a year-on-year increase in operating margins," JK Tyre Chairman and Managing Director Raghupati Singhania said. The company's strategic thrust on premiumisation and pricing has helped it manage the raw material cost pressures, he added. Although overall revenues were marginally lower due to decline in the OEM segment, this was largely offset by increased exports, Singhania stated. During the quarter, exports recorded healthy double-digit growth, despite geo-political disruptions and rising ocean freight, he said. "Looking .

Dhanuka Agritech Q1 results: Net profit rises 48% to Rs 48.9 crore

Agrochemicals company Dhanuka Agritech on Friday reported a 48.45 per cent growth in profit after tax to Rs 48.90 crore during the June 2024 quarter. The company's profit after tax (PAT) stood at Rs 32.94 crore during the corresponding quarter of the previous financial year, Dhanuka Agritech said in a statement. Its revenue from operations grew 33.73 per cent during the quarter under review to Rs 493.58 crore compared to Rs 369.07 crore in the year-ago period. "The year has started on a positive note and we have witnessed decent demand for all our product categories during the first quarter. "The timely arrival of the monsoon and dwindling inventory levels have contributed to increased orders from the distribution network, setting a positive trajectory for the company," Dhanuka Agritech Vice Chairman and Managing Director Mahendra Kumar Dhanuka said. The sowing season is in full swing in July and the sowing acreages for major crops are expected to be higher in the ongoing season,

MedPlus Health Q1 results: Net profit surges 3.8 times to Rs 14.36 crore

Growth in the retail pharmaceutical sector has improved and is expected to sustain, according to analysts, as an improvement in medical infrastructure has resulted in better access to these platforms

Titan Q1 results: Net profit declines 5% to Rs 715 crore, misses estimates

The Tata group-owned company reported a 5% fall in consolidated profit to Rs 715 crore ($85.4 million) in the quarter ended June 30, from Rs 756 crore an year ago

NIIT Q1FY25 results: PAT rises to Rs 7.75 cr, revenue up 32% at Rs 82.47 cr

Talent development company NIIT on Friday reported a three-fold rise in its consolidated net profits at Rs 7.75 crore in the June 2024 quarter. It had reported a net profit of Rs 2.18 crore in the year-ago period. Revenue from operations for the quarter under review came in at Rs 82.47 crore, up 31.86 per cent from Rs 62.54 crore in the corresponding quarter of the previous fiscal. Seen sequentially, revenue grew 10.93 per cent, but net profit declined 30.5 per cent. "The growth was driven by expansion in number of customers across private banks, GCCs, Tier II GSIs and large Indian enterprises. All round growth in the business led by 94 per cent YoY growth in BFSI and other programmes and technology programmes up 13 per cent YoY. BFSI & other programmes contributed 34 per cent of revenue in the quarter," the company said in a statement. NIIT vice chairman and managing director Vijay K Thadani, during the company's earnings press conference, said the revenue is in harmony with ...

CAMS Q1 results: Net profit rises 42% to Rs 108 cr, revenue up 27%

Registrar and transfer agent for mutual funds CAMS on Friday reported 42 per cent jump in profit after tax (PAT) at Rs 108.21 crore for the three months ended June 2024. The company had logged a PAT of Rs 76.34 crore in the year-ago period, Computer Age Management Services Ltd (CAMS) said in a statement. Revenue surged 27 per cent to Rs 331.40 crore in April-June FY25 from Rs 261.3 crore in the year-ago period. "Overall, the company's assets under service crossed the Rs 40 lakh crore milestone on the back of solid performance of equity assets, which grew at 55 per cent year-on-year and 11 per cent quarter-on-quarter," Anuj Kumar, Managing Director of CAMS, said. CAMS is India's largest registrar and transfer agent of mutual funds with an aggregate market share of 68 per cent based on mutual fund average assets under management (AAUM).

GSK Pharmaceuticals Q1 results: Net profit jumps 38% to Rs 182.33 crore

The company had posted a consolidated net profit of Rs 132.25 crore in the same quarter last fiscal, GlaxoSmithKline Pharmaceuticals (GSK Pharma) said in a regulatory filing

Hindustan Zinc Q1FY25 results: Net profit rises 19% to Rs 2,345 cr

Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported 19.3 per cent rise in consolidated net profit at Rs 2,345 crore for June quarter FY25. The company had posted a net profit of Rs 1,964 crore for the year-ago period. Income rose to Rs 8,398 crore from Rs 7,564 crore in the year-ago period, HZL said in a filing to BSE. Hindustan Zinc is the world's second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75 per cent of the primary zinc market in India.

ArcelorMittal March quarter results: Core profit at $1.96 bn, tops forecast

Profit was primarily driven by improved results in North America, Brazil, Europe, India and from its joint ventures, offset by lower mining segment results, it said

Prestige Estates Projects Q1 results: Net profit down 3.4% at Rs 307 crore

The realty firm's revenue from operations stood at Rs 1,862.1 crore in Q1 FY25 against Rs 1,680.9 crore in the corresponding period last year

Aster DM Healthcare Q1FY25 results: Net profit rises 81.3% to Rs 81 cr

Analysts expect hospital chains in the region to benefit from the acute flu season that, apart from coinciding with the June quarter, is known to bring diseases such as dengue and malaria

Adani Power Q1 results: Net profit down 55% due to higher expenses

Total income declined to Rs 15,474 cr in the April-June quarter of 2024-25 from Rs 18,109 cr in the same quarter of the last year

Action Construction Equipment Q1 results: PAT grows 24% to Rs 84.57 cr

Action Construction Equipment Ltd on Wednesday reported a 24 per cent rise in consolidated profit after tax (PAT) at Rs 84.57 crore in the April-June quarter of this financial year, mainly on account of higher income. It had reported a PAT of Rs 67.57 crore during the April-June period of the preceding 2023-24 fiscal, the construction equipment maker said in an exchange filing. The total income also increased to Rs 761.81 crore, up 14 per cent from Rs 667.85 crore a year ago. "The company has maintained its growth momentum in the first quarter of the current fiscal year. The company has been able to deliver its best ever quarterly performance in Q1 FY25," Action Construction Equipment Executive Director Sorab Agarwal said. The company garnered a revenue of Rs 690.67 crore from the cranes, construction equipment and material handling segment, while its agri-equipment division earned a revenue of Rs 42.96 crore. Action Construction Equipment Ltd is among India's leading material ...

Tata Steel Q1 results: Net profit rises 51% to Rs 959.61 cr on lower costs

Weak demand weighed on steel prices, says firm's CEO & MD