Page 34 - Corporate Earnings

Exide Q1FY25 results: PAT rises 16% to Rs 280 cr, revenue up at Rs 4,313 cr

Battery maker Exide Industries on Tuesday said its profit after tax increased 16 per cent to Rs 280 crore for the first quarter ended June 30, 2024. The company had reported a profit after tax of Rs 242 crore in the April-June quarter of the preceding fiscal. Its revenue from operations rose to Rs 4,313 crore for the June quarter compared to Rs 4,073 crore in the year-ago period, Exide Industries said in a regulatory filing. "Both automobile and industrial verticals have delivered growth in the current quarter, and near-term drivers are promising," Exide Industries MD and CEO Avik Roy said. Despite rising raw material prices, cost optimisation initiatives led to lower cost of production and gross margin improvement, he added. "In our lithium-ion project, onsite construction and installation of production line equipment is currently underway," Roy said. Shares of Exide Industries ended 3.54 per cent down at Rs 532 apiece on the BSE.

Force Motors Q1 results: Net profit jumps 69% to Rs 116 cr on high demand

Force, which manufactures commercial vehicles (CV), including vans, school buses and ambulances, reported a 27 per cent rise in revenue to Rs 1,885 cr during q1, driven by a 10 per cent jump in sales

Indian Oil Q1FY25 results: PAT plunges 81% to Rs 2,643 cr on low margins

IOC's average gross refining margin - the profit from making refined products from one barrel of oil - fell to $6.39 per barrel from $8.34 per barrel a year ago

Colgate Palmolive India Q1FY25 results: Net profit up 33% at Rs 364 cr

FMCG major Colgate-Palmolive India on Monday reported 33 per cent rise in net profit at Rs 363.98 crore for the first quarter ended June 2024, helped by a demand pickup and good performance of products. The oral hygiene product maker had posted a net profit of Rs 273.68 crore in April-June FY24, according to a regulatory filing from Colgate-Palmolive India Ltd (CPIL). Sales were up 13 per cent to Rs 1,485.76 crore during the quarter under review as against Rs 1,314.73 crore in the corresponding period a year ago. "The quarter witnessed continued demand pickup in rural markets outpacing growth in urban markets for the second quarter in a row. Led by this and good all-round performance of toothpaste, toothbrush and personal care, domestic revenues grew by 12.8 per cent year-on-year for the quarter,"said CPIL in its earning statement. Total expenses in June quarter was up 8.46 per cent to Rs 1,030.86 crore. Total income, which includes other income also, was at Rs 1,520.11 crore, up

Adani Total Gas Q1 results: PAT up 15% to Rs 172 cr on strong CNG demand

The Adani group company's consolidated profit rose 15% to Rs 172 crore (around $21 million) in the three months ended June 30, marking its sixth straight rise in quarterly profit

Indian Bank Q1 FY25 results: Net profit rises 41% to Rs 2,403 crore

Its operating profit improved by 9 per cent year-on-year (Y-o-Y) to Rs 4,502 crore in June 2024 from Rs 4,135 crore in June 2023

Strides Pharma reports profit of Rs 68.3 crore in Q1, revenue up 16%

As per the company statement, US revenues for Strides in Q1 FY25 stood at a quarter-high of $70 million (about Rs 586 crore)

CSB Bank Q1 results: Net profit drops 14% to Rs 113 cr as provisions rise

The provisions for non-performing assets rose 273 per cent to Rs 20 crore from Rs 4 crore in Q1 FY24

Kalpataru Projects International Q1FY25 results: PAT falls 26% to Rs 84 cr

Kalpataru Projects International Ltd on Monday posted about 26 per cent decline in consolidated net profit to Rs 84 crore for the June 2024 quarter, dragged by higher expenses. It had clocked Rs 113 crore profit in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 4,609 crore from Rs 4,259 crore in April-June 2023-24. The expenses surged to Rs 4,472 crore from Rs 4,094 crore a year ago. KPIL is one of the largest specialised EPC companies engaged in power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, urban mobility (flyovers and metro rail), highways and airports.

NDTV Q1 results: Loss widens to Rs 46.75 cr on higher production costs

Quarterly expenses were surged around 77%, with production costs, among broadcasters' biggest expenses, up 80% and marketing spends related to a newly-launched regional channel tripling

Indian Bank Q1 FY25 results: Net profit rises 41% to Rs 2,403 crore

State-owned Indian Bank on Monday posted a 41 per cent jump in its net profit to Rs 2,403 crore for the June 2024 quarter due to a decline in bad loans. The Chennai-based lender had earned a net profit of Rs 1,709 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 16,945 crore against Rs 14,759 crore a year ago, Indian Bank said in a regulatory filing. Its interest income grew to Rs 15,039 crore during the period under review from Rs 13,049 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross non-performing assets (NPAs) improved to 3.77 per cent of gross advances as of June 30, 2024, from 5.47 per cent in the April-June quarter of the previous fiscal. The net NPAs also declined to 0.39 per cent of the advances from 0.70 per cent a year ago. As a result, provisions for bad loans declined to Rs 896 crore against Rs 930 crore earmarked during the same quarter a year ago. The capital adequacy ratio of the

IDFC First Bank Q1 results: Net profit declines by 11% to Rs 680 cr

IDFC First Bank on Saturday reported an 11 per cent decline in net profit at Rs 680 crore in the April-June quarter. The bank had posted a net profit of Rs 765 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 10,408 crore as against Rs 8,282 crore, IDFC First Bank said in a regulatory filing. The lender's interest income also increased to Rs 8,789 crore from Rs 6,868 crore in the same quarter a year ago. The gross Non-Performing Assets (NPAs) declined to 1.9 per cent of the gross advances by June 2024 from 2.17 per cent in the same quarter a year ago. The net NPA too declined to 0.59 per cent as against 0.70 per cent in the same period of the previous year.

J&K bank's profit rises 27% to Rs 415 cr in Apr-Jun quarter on high income

J&K Bank on Saturday reported a 27 per cent rise in net profit to Rs 415 crore in the April-June quarter of 2024-25 compared to the year-ago period. The bank had posted a net profit of Rs 326 crore in the April-June period of the previous year. Total income in the first quarter of the current fiscal rose to Rs 3,188 crore as against Rs 2,885 crore, J&K Bank said in a filing. The lender's interest income also increased to Rs 2,994 crore from Rs 2,657 crore in the same quarter a year ago. The bank's net interest income (NII) grew by 7 per cent to Rs 1,369 crore in the first quarter of current financial year. The gross Non-Performing Assets (NPAs) declined to 3.91 per cent of the gross advances by June 2024 from 5.77 per cent in the same quarter a year ago. The net NPA too declined to 0.76 per cent as against 1.39 per cent in the same period of the previous year. The capital adequacy ratio of the bank improved to 15.07 per cent at the end of June compared to 14.83 per cent in the

Equitas Small Finance Bank Q1 result: Net profit dips to Rs 25.75 cr

Private sector Equitas Small Finance Bank has reported a dip in its net profits for the April-June 30, 2024 at Rs 25.75 crore. The bank had registered a profit after tax of Rs 191.20 crore registered in the year ago period. For the year ending March 31, 2024 the net profit of the bank stood at Rs 798.96 crore. Total income during the quarter under review grew to Rs 1,709.65 crore, as compared to Rs 1,425.32 crore registered in the same period of last year. For the year ending March 31, 2024 the total income of the bank stood at Rs 6,285.07 crore. In a statement on Saturday, the bank said the decline in profit after tax for the quarter under review, was due to 'floating provision of Rs 180 crore to strengthen the Provisioning Coverage Ratio of the bank'. In order to strengthen PCR, Bank has made additional provision in the form of floating provision of Rs 180 crore during the quarter. PCR improved to 70.29 per cent in Q1FY'25 from 56.06 per cent (during the same quarter of last year

Star Housing Finance reports 70% revenue growth in April-June quarter

Semi-urban and rural-focused home finance company Star Housing Finance Ltd (Star HFL) has reported a 70 per cent jump in its revenue for the April-June quarter on strong growth in interest income and commission fee. Total revenue rose by 70 per cent to Rs 20.96 crore for the April-June quarter of 2024-25 compared to Rs 12.29 crore in the year-ago period, the BSE-listed company said in a release. Interest income rose to Rs 18.08 crore in the first quarter of FY25 against Rs 11.20 crore in April-June 2023-24. Assets under management soared by 73.55 per cent to Rs 471.41 crore in the June quarter over the year-ago period. Disbursements were at Rs 61.23 crore in the quarter under review. Profit after tax rose by 94 per cent to Rs 3.02 crore in the quarter against Rs 1.55 crore in the year-ago period.

NTPC Q1FY25 results: Net profit up 12% at over Rs 5,500 cr on higher income

State-owned NTPC on Saturday posted 12 per cent rise in consolidated net profit at Rs 5,506.07 crore for the June quarter, mainly on the back of higher income. In the year-ago period, its net profit stood at Rs 4,907.13 crore, the company said in an exchange filing. Total income rose to Rs 48,981.68 crore from Rs 43,390.02 crore in the same period a year ago. Expenses stood at Rs 41,844.18 crore against Rs 36,963.61 crore a year ago. NTPC's consolidated power generation rose to 114 billion units (BUs) in Q1 FY25 from 104 billion units in Q1 FY24. On standalone basis, the company reported a net profit of Rs 4,511 crore, around 11 per cent higher as against Rs 4,066 crore in the year-ago period. Total income was at Rs 45,053 crore as against Rs 39,681 crore in April-June 2023-24. The company's standalone power generation was at 98 billion units, higher from 88 billion units in the year-ago period. NTPC coal stations achieved a plant load factor of 80.39 per cent during Q1 FY25 as

REC Q1FY25 results: PAT grows 16.57% to Rs 3,460.19 cr on high revenue

State-owned REC on Saturday posted a 16.57 per cent rise in consolidated net profit to Rs 3,460.19 crore for the June quarter, mainly on the back of higher revenues. In the year-ago period, its net profit stood at Rs 2,968.05 crore, the company said in an exchange filing. Total income rose to Rs 13,092.44 crore from Rs 11,108.16 crore in the same period a year ago. Expenses stood at Rs 8,743.22 crore against Rs 7,386.99 crore a year ago. The board of directors also approved an interim dividend of Rs 3.50 per equity share of Rs 10 each for the financial year 2024-25. "The Board has also taken note of striking off the name of Khavda II-D Transmission a wholly-owned subsidiary company of REC Power Development & Consultancy Limited ("RECPDCL"), a wholly-owned subsidiary of REC, from the Registrar of the Companies,' the filing said. The Company stands dissolved and ceased to be the subsidiary of RECPDCL & REC in terms of provisions of the Companies Act. 2013, it said. REC, under ..

Jupiter Wagons Q1 FY25 results: Net profit rises 40% to Rs 89 crore

Leading manufacturer of railway wagons, wagon components and castings Jupiter Wagons Ltd on Friday posted a 40.3 per cent rise in profit after tax (PAT) to Rs 89.23 crore for the June quarter. The company had posted a consolidated PAT of Rs 63.60 crore in the year-ago period. The company's income during the April-June period increased to Rs 902.19 crore, over Rs 755.41 crore in the year-ago period, Jupiter Wagons Ltd (JWL) said in a statement. "We are excited to report outstanding results for Q1FY25... Despite challenges from the general elections and peak summer, we maintained a strong consolidated EBITDA margin of 15.5 per cent. Our wagon business remains crucial, contributing 80 per cent of revenue. We are actively diversifying into sectors such as railway components, commercial vehicles, brake discs, brake systems and containers," it said. JWL is a provider of comprehensive mobility solutions, with diverse offerings across freight wagons, locomotives, commercial vehicles, ISO

Cipla Q1 results: Net profit up 18% at Rs 1,177.64 cr, revenue rises 5.8%

Pharma major eyes new therapy areas to fuel future growth

Piramal Pharma Q1FY25 results: Net loss narrows at Rs 88.64 crore

Piramal Pharma Ltd on Friday reported a narrowing of consolidated net loss at Rs 88.64 crore in the first quarter that ended June 30, 2024, on the back of higher sales. The company had posted a consolidated net loss of Rs 98.58 crore in the same quarter last fiscal, Piramal Pharma said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,951.14 crore as compared to Rs 1,748.85 crore in the year-ago period, the company added. Total expenses in the first quarter were higher at Rs 2,038.16 crore as compared to Rs 1,908.66 crore in the same period a year ago. "We have had a good start to the financial year with a steady all-round performance...," Piramal Pharma Chairperson Nandini Piramal said. The company's CDMO (Contract Development and Manufacturing Organisation) business continues to witness sustained order inflows, especially for on-patent commercial manufacturing, she added. "We are also seeing good demand for our differentiate