Page 33 - Corporate Earnings

Microsoft's Azure posts slowdown in growth, testing investors' patience

The company's Xbox video-gaming unit posted 61 per cent growth in content and services revenue, much of that fueled by the $69 billion purchase of Activision Blizzard, which was completed in October

Prestige Estates Projects Q1 results: Net profit falls 12% to Rs 233 cr

The housing market, especially in the premium segment, has seen continued growth in the past few quarters, with higher-end buyers remaining unfazed by inflationary pressures

Redington Q1 results: Net profit down 1% at Rs 246 cr as demands fall

Redington's operations from rest of the world (ROW) segment, which operates in 31 countries, including Rwanda, Oman and Turkey, and contributes nearly 50 per cent to its revenue has been in pressure

JK Lakshmi Cement Q1 results: PAT doubles to Rs 156 cr on lower expenses

India's general elections, and an extreme summer season spanning the April-June period, restricted construction activities and hit sales volumes for cement makers

Bank of Baroda Q1 results: Net profit rises 9.5% at Rs 4,458 crore

Sequentially, the profit declined from Rs 4,886 crore in Q4FY24. Bank's stocks closed 0.94 per cent lower at Rs 253.85 on Wednesday

KRBL Q1 results: Net profit falls 55.5% to Rs 8,656 lakh on weak demand

World's biggest rice exporter imposed various curbs on exports in July last year and continued them in 2024 in an effort to keep local prices in check ahead of the general elections held in April-May

Sundram Fasteners Q1 results: Net profit rises 11% to Rs 142.69 crore

The earnings before interest, depreciation, and taxes (EBITDA) for the quarter were at Rs 223.06 crore as against Rs 197.66 crore during the same period in the previous year

Bank of Baroda Q1 result: PAT up 10% at Rs 4,458 cr on decline in bad loans

Bank of Baroda (BoB) on Wednesday reported a 10 per cent increase in standalone net profit to Rs 4,458 crore in the June 2024 quarter, helped by a decline in bad loans. The state-owned bank had posted a net profit of Rs 4,070 crore in the year-ago period. Total income in the quarter rose to Rs 32,116 crore from Rs 29,878 crore, BoB said in a regulatory filing. The lender's interest income also increased to Rs 29,629 crore against Rs 26,556 crore in the same quarter a year ago. Gross Non Performing Assets (NPAs) declined to 2.88 per cent of gross advances by June 2024 from 3.51 per cent in FY24. Net NPAs too declined to 0.69 per cent compared to 0.78 per cent at the end of the first quarter of the previous year. As a result, provisions and contingencies came down to Rs 1,011 crore in the April-June period of FY25 against Rs 1,947 crore in the year-ago period. The capital adequacy ratio of the bank improved to 16.82 per cent at the end of June 2024 compared to 15.84 per cent in th

GE T&D India Q1 results: Net profit grows to Rs 134.5 cr on higher income

GE T&D India on Wednesday reported a multi-fold rise in its net profit to Rs 134.5 crore during the June 2024 quarter, mainly on account of higher income. It had posted a net profit of Rs 28.2 crore in the April-June quarter of the preceding 2023-24 fiscal, the company said in a regulatory filing. The company's total income rose to Rs 970.1 crore from Rs 729.5 crore a year ago. During the period under review, expenses stood at Rs 790.2 crore against Rs 690.9 crore in FY24. GE T&D India is a leading player in the power transmission and distribution business.

Waaree Renewable Technologies Q1 results: Net profit triples to Rs 28 cr

Waaree Renewable Technologies Ltd (WRTL) has reported three-fold rise in consolidated profit after tax at Rs 28.16 crore for June quarter FY25. It had logged Rs 9.13 crore profit after tax (PAT) during April-June FY24, the company said in a statement on Tuesday. Total revenue increased to Rs 236.35 crore from Rs 128.94 crore in the same quarter a year ago. Its unexecuted order book stands at 2,191 MW, the company said adding the orders are to be executed between 9-12 months time. Part of the Waaree Group, WRTL is a leading player in solar EPC (engineering, procurement and construction) business.

Airbus quarterly profit falls to half on industrial costs, space charge

Airbus is working on a review of space activities as it discusses potential alliances with France's Thales and Italy's Leonardo, and meanwhile plans to announce a new turnaround plan

Granules India PAT surges to Rs 135 cr in June quarter

Granules India on Tuesday said its profit after tax rose nearly three-fold year-on-year to Rs 135 crore for the first quarter ended June 30, 2024. The drug maker had reported a profit after tax (PAT) of Rs 48 crore in the April-June quarter of last fiscal. Revenue from operations rose to Rs 1,180 crore for the period under review from Rs 985 crore in the year-ago period, the Hyderabad-based firm said in a regulatory filing. "With our robust quarterly performance, we are back on our planned trajectory after a few setbacks last year," Granules India Chairman & Managing Director Krishna Prasad Chigurupati said. The first quarter performance highlights continued growth in the formulation segment, strong North America business, and product diversification, he added. Shares of the company on Tuesday ended 4.15 per cent up at Rs 587.80 apiece on the BSE.

Mindspace REIT Q1FY25 results: Net operating income up 9 % to Rs 496 cr

Mindspace Business Parks REIT on Tuesday reported a 9 per cent increase in net operating income to Rs 496 crore in the first quarter of this financial year and declared distribution of nearly Rs 300 crore to unitholders for the latest April-June period. According to a regulatory filing, the company's revenue from operations rose 11 per cent to Rs 620 crore during April-June 2024, from Rs 560 crore in the year-ago period. Net Operating Income (NOI) increased 9 per cent to Rs 496 crore, from Rs 455 crore a year-ago, while distribution grew 5 per cent in the reported quarter to Rs 299 crore, from Rs 285 crore in the year-ago period. "We have had yet another great quarter, renting out over 1 million square feet and achieving a remarkable committed occupancy of 91.1 per cent. Our NOI grew by a robust 9.2 per cent driven by our rising rents and growing occupancy," Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Pvt Ltd, Manager to Mindspace REIT said. This healthy

Indus Towers Q1 results: Net profit rises 42% to Rs 1,926 cr, revenue up 4%

Telecom infrastructure major Indus Towers on Tuesday posted a 42 per cent increase in consolidated profit to Rs 1,925.9 crore in the first quarter ended June 30, 2024. The company had reported a profit of Rs 1,347.9 crore in the same period a year ago, Indus Towers said in a regulatory filing. Indus Towers consolidated revenue from operations grew by about 4 per cent to Rs 7,439.4 crore during the reported quarter, from Rs 7,132.4 crore in the June 2023 quarter, the filing added. During the quarter ended June 30, 2024, Vodafone Group Plc, through its indirect wholly-owned subsidiaries, sold 17.98 per cent of its shareholding in Indus Towers. Bharti Airtel Ltd acquired approximately 27 million equity shares representing 1 per cent equity share capital of the company. Accordingly, Bharti Airtel Ltd held 48.95 per cent shares and Vodafone Group held 3.06 per cent stake in the company as on June 30, 2024. Both Bharti Airtel Ltd and Vodafone continue to be the promoters of the ...

TVS SCS Q1FY25 results: Net profit at Rs 7.5 cr on growth in revenue

During the quarter, the company made significant strides by securing key new business wins, including partnerships with global OEMs in the commercial vehicle sector in both India and Singapore

State-owned non-life insurers report Rs 7,558 cr net profit in FY24

The government had infused capital worth Rs 17,450 crore in three years from FY20 to FY22 to restore solvency levels to control level

Torrent Power Q1 result: Net profit up 88% at Rs Rs 972 cr on robust demand

Heatwaves and increasing economic activity have resulted in India's electricity generation growing at an average of about 8 per cent annually following the pandemic

Nexus Select Trust Q1 results: Net operating income up 7% at Rs 412.7 cr

Nexus Select Trust, a listed REIT backed by retail real estate, on Tuesday reported 7 per cent increase in net operating income to Rs 412.7 crore for June quarter and announced plans to raise up to Rs 1,700 crore through issue of commercial papers and debentures. In a regulatory filing, the company said it achieved retail Net Operating Income (NOI) of Rs 371.9 crore in April-June period of this fiscal, up 8 per cent from the year-ago period. Nexus Select Trust declared distribution of Rs 325.3 crore or Rs 2.147 per unit for the first quarter of 2024-25. "Signed two term sheets for acquisition of 0.8 million square feet retail assets; commenced due diligence. Overall, 5 assets under acquisition including the acquisitions announced in the past," the company said. Nexus Select Trust said the board has also approved raising of funds by issuing listed, rated, redeemable, commercial papers, for an aggregate principal amount of up to Rs 500 crore and also non-convertible debentures up to

Jindal Stainless Q1FY25 results: Net profit down 13.11% to Rs 648.06 crore

In a statement, Jindal Stainless managing director Abhyuday Jindal said that it was an enabling resolution to "prepare for, among other things, organic and inorganic growth opportunities"

Castrol India results: Net profit rises 3% to Rs 232 cr in June quarter

Lubes maker Castrol India Limited reported a marginal 3 per cent growth in profit after tax (PAT) to Rs 232 crore for the June 2024 quarter. The company had posted a PAT of Rs 225 crore in the April-June period of 2023. The revenue from operations during the second quarter rose 5 per cent to Rs 1,398 crores compared to Rs 1,334 crore in the corresponding quarter of the previous year, Castrol India said. Castrol India follows the January-December period of the year for financial reporting. "Our balanced focus on volumes and margins, along with our commitment to innovation and brand building, has driven revenue growth," Deepesh Baxi, Chief Financial Officer at Castrol India Limited, said. Looking ahead, the ongoing innovations in products and services, coupled with strategic brand investments, will sustain our growth momentum, he said. "Potential stabilisation of input costs in the latter half of the year could signal a positive trend for the industry," Baxi added.