Page 35 - Corporate Earnings

PowerGrid Q1 results: Net profit up 3.52% at Rs 3,723.92 cr as income rises

Power Grid Corporation of India (PowerGrid) on Friday posted a 3.52 per cent rise in its consolidated net profit to Rs 3,723.92 crore for the June quarter, mainly on account of higher income. It had clocked Rs 3,597.16 crores profit for the year-ago period, the company said in an exchange filing. During the quarter, its total income rose to Rs 11,279.59 crore from Rs 11,257.60 crore in the April-June quarter of the preceding 2023-24 fiscal. The company also reduced its expenses to Rs 6,643.07 crore from Rs 6,688.51 crore in the same quarter a year ago.

SBI Card Q1 results: Net profit flat at Rs 594 cr on higher impairment

SBI Cards and Payment Services on Friday reported a net profit flat at Rs 594 crore in the first quarter of the current fiscal due to a rise in delinquencies. The SBI-promoted card issuance company (SBI Card) reported a net profit of Rs 593 crore in the April-June period of the previous fiscal. The total income during the quarter rose to Rs 4,483 crore against Rs 4,046 crore a year ago, the company said in a regulatory filing. Segment-wise, the interest income in the first quarter increased to Rs 2,243 crore from Rs 1,804 crore a year ago, while income from fees and commission remained almost flat at Rs 2,115 crore, it said. The company's gross non-performing assets rose to 3.06 per cent of gross advances as of June 30, against 2.41 per cent a year ago. Similarly, net non-performing assets increased to 1.11 per cent from 0.89 per cent in the same quarter of FY24. As a result, impairment losses and bad debt expenses increased by 53 per cent at Rs 1,101 crore in the first quarter .

KingsCraft eyes Rs 50 cr revenue from new e-commerce platform in FY25

Online fashion retail brand KingsCraft Online Brands on Friday said it is eyeing Rs 50 crore revenue from its newly launched e-commerce platform Underrated Club in this fiscal. The Pune-based company, which started operations this year, also said it is looking to venture into offline segments as well with plans to set up 50 fashion retail stores across Tier-I cities under the new platform by March next year. Bootstrapped with an investment of Rs 8 crore, the company has strategically positioned Underrated Club as a key player in the affordable luxury streetwear segment, it said. "At URC (Underrated Club), we are redefining streetwear by combining innovation and sustainability," Abhishek Teri, Co-founder of Underrated Club, said. Underrated Club is set to expand its reach through a robust online presence and partnerships with plans to tie up with leading e-commerce platforms and establish a physical presence through retail partnerships, pop-up stores, and flagship stores in key ...

ESAF Small Finance Bank Q1 results: Net profit falls 52% to Rs 63 cr

ESAF Small Finance Bank on Friday reported 52 per cent decline in June quarter net profit at Rs 63 crore due to increase in bad loans. The Kerala-based lender had earned a net profit of Rs 130 crore in the year-ago period. However, total income increased to Rs 1,138 crore from Rs 992 crore a year ago, ESAF Small Finance Bank said in a regulatory filing. Interest income grew to Rs 1,022 crore during the period under review, from Rs 899 crore a year ago. The bank's asset quality worsened with Gross Non-Performing Assets (NPAs) surging to 6.61 per cent of gross advances as of June 30, 2024, from 1.65 per cent by the end of first quarter of the previous fiscal. Net NPAs also rose to 3.22 per cent of the advances, from 0.81 per cent at the end of first quarter last year. As a result, provisions and contingencies increased to Rs 169 crore from Rs 129 crore earmarked during the same quarter a year ago. However, the capital adequacy ratio of the bank improved to 23.46 per cent, as compa

LatentView Analytics reports Q1 net profit of Rs 38.92 cr, revenue up 21%

Digital analytics consulting and solutions provider LatentView Analytics has recorded a net profit of Rs 38.92 crore, for the April-June 2024 quarter, the company said on Friday. The city-based company had registered a net profit of Rs 32.85 crore during the corresponding quarter last year. For the year ending March 31, 2024 the net profit of the company stood at Rs 158.64 crore. Total income during the quarter under review grew to Rs 196.31 crore from Rs 165.56 crore registered in the same period a year ago. The total income for the year ending March 31, 2024 is Rs 714.38 crore. Commenting on the financial performance, company Chief Executive Officer Rajan Sethuraman said, "We have started the fiscal year on a positive note with a strong performance. For Q1FY25, our revenue grew by 21.1 per cent on a year-on-year basis and 4.2 per cent sequentially. Our continued growth momentum is a testament to the strong execution by our team." LatentView Analytics Chief Financial Officer Raja

Cholamandalam Investment and Finance Q1 results: PAT up 29.7% at Rs 942 cr

Cholamandalam Investment and Finance Company has reported a 29.7 per cent growth in its profit after tax for the April-June 2024 quarter at Rs 942 crore. The company, which is the financial services arm of diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 726 crore in the corresponding quarter of last year. Total income during the quarter under review grew by 40.9 per cent to Rs 5,828 crore, from Rs 4,134 crore registered in the corresponding quarter of last year. Disbursements made during the quarter ending June 30, 2024, grew by 22 per cent to Rs 24,332 crore, as compared to Rs 20,015 crore registered in the same period of last year. Assets under management during the quarter under review rose to Rs 1,68,832 crore, from Rs 1,22,755 crore registered in the same period of last year. In a statement issued on Friday, the company said it continues to hold a strong liquidity position of Rs 14,767 crore as a cash balance as of the end of June 2024. The .

KFin Technologies Q1 results: Profit after tax jumps 57% to Rs 68 cr

Financial services firm KFin Technologies on Friday reported 57 per cent jump in profit after tax (PAT) at Rs 68.07 crore for June quarter 2024-25 driven by strong performance across business segments. The company had posted a PAT of Rs 43.38 crore for the same quarter a year ago, KFin Technologies said in a statement. Revenue from operations rose 31 per cent to Rs 237.56 crore in June quarter 2024-25 from Rs 181.5 crore in the year-ago period. "Throughout the quarter, we achieved significant milestones across our diverse business segments, marked by substantial new client wins, growth, and enhanced profitability. "Notably, we gained significant traction in new contract sign ups in the fast-growing business lines of global fund services (international), alternatives and wealth solutions, fund administration solutions, and technology solutions," said Sreekanth Nadella, Managing Director and CEO, KFin Technologies. The company provides SaaS based transaction management, channel ...

Bandhan Bank Q1FY25 results: Net profit increases 47% to Rs 1,063 crore

During the quarter, the bank's total income increased to Rs 6,063 crore against Rs 4,908 crore a year ago, Bandhan Bank said in a regulatory filing

IndusInd Bank Q1FY25 results: Net profit rises 2% to Rs 2,171 crore

Private sector IndusInd Bank on Friday posted a marginal 2 per cent rise in net profit at Rs 2,171 crore for the first quarter ended June 30. The lender had earned a net profit of Rs 2,124 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 14,988 crore, as against Rs 12,939 crore a year ago, IndusInd Bank said in a regulatory filing. Interest income grew to Rs 12,547 crore during the period under review, from Rs 10,730 crore in the corresponding quarter a year ago. On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) worsened to 2.02 per cent of gross advances as of June 30, 2024, from 1.94 per cent by the end of first quarter of the previous fiscal. Net NPAs also rose to 0.60 per cent of the advances, from 0.58 per cent at the end of first quarter of last year. As a result, provisions other than tax and contingencies rose to Rs 1,050 crore, as against Rs 992 crore earmarked during the same quarter a year ago. The Capita

IndiGo Q1 FY25 results: Net profit declines 11.7% on higher expenses

India's largest airline by market share posted a profit of Rs 2,727 crore ($326 million) for the three months ending June 30, compared with Rs 3,087 crore a year earlier

Shriram Finance Q1 result: Net profit up 18% at Rs 1,981 cr on loan demand

Shriram Finance's earnings were boosted by higher commercial vehicle sales - which form its biggest financing segment, along with strength in farm equipment and small business credit segments

Ramkrishna Forgings Q1 result: PAT rises 3% to Rs 81 cr on higher income

Ramkrishna Forgings Ltd on Wednesday posted over 3 per cent rise in consolidated net profit to Rs 81 crore during the June quarter, on account of higher income. It had clocked Rs 78.52 crore profit for the period ended June 30, 2023, the company said in an exchange filing. The company's total income rose to Rs 1,013.98 crore from Rs 896.99 crore in the April-June period of the preceding 2023-24 fiscal. Expenses were at Rs 897.46 crore as against Rs 793.36 crore a year ago. In a separate statement, the company's MD Naresh Jalan said, "Our revenues on a standalone basis stood at Rs 868 crore, reflecting our strong market presence and operational efficiency. Our adjusted EBITDA was Rs 201 crore, yielding an impressive EBITDA margin of 23.1 per cent." In the quarter, the company received an order inflow amounting to Rs 1,679 crore, which is to be executed over a period of four years. The order book also includes an undercarriage business order from a metro car in the railway segment,

CG Power Q1 results: Net profit rises 21% to Rs 232.13 cr as sales increase

CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter. The company, part of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 192.06 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone profit after tax stood at Rs 1,004.36 crore. Total standalone income during the quarter under review grew to Rs 2,139.76 crore from Rs 1,791.91 crore registered in the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone total income stood at Rs 7,760.80 crore. In a statement, the company said the aggregate sales for the quarter were higher at Rs 2,106 crore recording a growth of 19 per cent year-on-year. Margins were higher at 15.4 per cent of sales on account of higher realisations, favourable product mix and cost efficiencies in power ...

JK Paper Q1 results: Net profit declines 55% to Rs 140.79 cr as prices fall

JK Paper Ltd on Wednesday reported a 55 per cent decline in consolidated net profit to Rs 140.79 crore in the June 2024 quarter, hit by a fall in market prices coupled with a surge in wood cost. The company posted a consolidated net profit of Rs 312.56 crore in the corresponding period of the last fiscal, JK Paper said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 1,804.47 crore against Rs 1,663.97 crore in the year-ago period, it added. During the quarter, total expenses were higher at Rs 1,549.21 crore compared to Rs 1,238.34 crore in the year-ago period. "The results have been adversely impacted due to a significant drop in market prices coupled with a surge in wood cost compared to the corresponding quarter," JK Paper Chairman & Managing Director Harsh Pati Singhania said. The company, however, increased sales volume driven by higher utilisation in the packaging board business, he added. JK Paper said in order to mitigate

Trident Q1FY25 results: Textile firm's net profit slips 19.1% to Rs 73.9 cr

Textiles firm Trident Ltd on Wednesday reported a 19.1 per cent decline in its consolidated profit after tax to Rs 73.89 crore for the first quarter of FY25. The company had posted a consolidated profit after tax of Rs 91.34 crore in the April-June quarter a year ago, according to a regulatory filing from Trident. However, its revenue from operations increased 16.66 per cent to Rs 1,742.71 crore in the June quarter. It was Rs 1,493.71 crore a year ago. The total expenses in the June quarter rose 19.7 per cent to Rs 1,655.59 crore. Its revenue from the Yarn business was Rs 960.70 crore and Rs 615.34 crore from the towel business. Trident's revenue from the Bedsheets segment was Rs 357.84 crore, and Rs 248.38 crore from paper and chemicals. Its total income stood at Rs 1,757.58 crore in the June quarter, up 16.77 per cent. It was Rs 1,505.08 crore a year earlier. Shares of Trident Ltd on Wednesday settled at Rs 37.44 on BSE, up 1.22 per cent.

Welspun Living Q1FY25 results: Net profit rises 14% to Rs 185.95 cr

Home textiles major Welspun Living Ltd on Wednesday reported a 14.3 per cent increase in consolidated net profit to Rs 185.95 crore in the June 2024 quarter. The company posted a consolidated net profit of Rs 162.73 crore in the quarter last fiscal, Welspun Living said in a regulatory filing. Consolidated revenue from operations stood at Rs 2,536.49 crore compared to Rs 2,184.05 crore in the year-ago period, it added. Total expenses in the first quarter were higher at Rs 2,335.11 crore against Rs 1,998.65 crore in the corresponding period a year ago, the company said. Welspun Living said its board of directors at its meeting held on July 24, 2024, has approved a buyback proposal for purchase of over 1.26 crore paid equity shares of Re 1 each at a price of Rs 220 per share for an aggregate amount of not exceeding Rs 278.44 crore. "The domestic consumer business has shown resilience in the face of challenging demand scenario in the Indian retail market and continued to be the leadi

Aditya Birla Sun Life AMC Q1FY25 results: Net profit rises 28% to Rs 236 cr

Aditya Birla Sun Life AMC on Wednesday reported a 28 per cent rise in profit after tax to Rs 235.7 crore, its highest quarterly gain, for the three months ended June 2024. The asset management firm, part of Aditya Birla Capital, had posted a profit after tax (PAT) of Rs 184.6 crore in the same quarter of the preceding fiscal, according to a stock exchange filing. The company's revenue from operations rose 24 per cent to Rs 386.6 crore in the quarter under review from Rs 311.2 crore in the April-June quarter of the preceding fiscal (2023-24). ABSL AMC's assets under management stood at Rs 3.52 lakh crore at the end of the June 2024 quarter, reflecting a 19 per cent year-on-year growth. Founded in 1994, ABSL AMC is co-owned by Aditya Birla Capital and Sun Life (India) AMC Investments Inc. It is one of the leading asset managers in India, servicing around 9.4 million investor accounts with a pan-India presence across over 300 locations.

Bikaji Foods Q1 result: Net profit rises 40% to Rs 58.06 cr, revenue up 15%

Snacks manufacturer Bikaji Foods International Ltd on Wednesday reported a 40.2 per cent increase in its consolidated net profit to Rs 58.06 crore in the first quarter ended in June 2024. The company had posted a consolidated profit of Rs 41.41 crore in the April-June quarter a year ago, according to a regulatory filing from Bikaji Foods. Its revenue from operation was up 15.24 per cent to Rs 555.12 crore in the June quarter. It was at Rs 481.68 crore a year ago. Bikaji Foods reported volume growth of "16.2 per cent YoY, led by double-digit growth across categories," said an earning statement from the company. Total expenses of Bikaji Foods in the June quarter were up 16.08 per cent to Rs 501.32 crore. Its total income was at Rs 579.41 crore in the June quarter, up 18.8 per cent. "Our EBITDA for the quarter improved by 240 bps year-over-year, reaching 916 million, reflecting our commitment to operational efficiency and disciplined cost management," said Managing Director Deepak .

IndiGrid Q1 results: Net profit rises 28% to Rs 137 cr on higher income

Investment Manager to India Grid Trust (IndiGrid) on Wednesday posted a 28 per cent increase in net profit to Rs 136.9 crore during the June quarter, helped by higher income. It had clocked Rs 107 crore profit in the year-ago period, the company said in a statement. Its total income rose to Rs 873.3 crore during the first quarter of the ongoing fiscal year from Rs 654.5 crore a year earlier. Expenses were at Rs 727.2 crore as against Rs 539.7 crore a year ago.

DCB Bank Q1 results: Net profit increases 3% to Rs 131 cr; NIM's moderate

The provision coverage ratio (PCR), including written-off accounts, stood at 76 per cent in June 2024 as against 77.07 per cent a year ago