Page 38 - Corporate Earnings

TCS Q1 results: Net profit up 8.7%, margins rise despite salary hike

TCS meets estimates, but macro challenges persist; AI, genAI pipeline doubles

Anand Rathi Wealth Q1 net profit surges 38%; Canara Robeco MF launches BAF

Total revenue also jumped 38 per cent to Rs 245 crore, the wealth management firm said

Earnings likely to disappoint investors amid expensive market valuations

The earnings slowdown is caused in part by a severe heat wave, drawn-out election activity, and central bank curbs on unsecured loans

Global trends, earnings from TCS, HCLTech to guide mkts this week: Analysts

Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively. Additionally, India's Union budget in July is a key event, with hopes pinned on growth-oriented policies and development of monsoon season, which will also be significant points of interest for investors and traders," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. The US Federal Reserve Chair Jerome Powell's testimony is scheduled for July 9, 2024, he added. "Furthermore, the activities of both foreign and domestic institutional investors (FII & DII) will be tracked, ...

Can the June 2024 quarter corporate earnings disappoint markets?

Disconnect between earnings growth and stock prices, Bernstein said, is even more visible in the small-and mid-cap (SMID) universe

'Domestic flows will sustain, but will not rise meaningfully from here'

The pockets of the market in which excess exuberance can be seen will undergo a reality check of earnings and valuations, said Gautam Sinha Roy of ICICI Pru Life Insurance

Investors beware! Four risks that can trigger a stock market correction

The faith in the market is at epic levels and may require something equally epic to break the faith. High or even bubble valuations are irrelevant for non-institutional investors, said a KIE note

ReNew Energy Global net profit jumps 7-fold to $7 mn in March quarter

ReNew Energy Global Plc on Thursday said its net profit jumped seven-fold to USD 7 million in the January-March quarter of FY24 due to higher income and reduced expenses. The total revenue for the latest fourth quarter decreased by 4.4 per cent to USD 297 million, down from USD 311 million in the same period in the preceding fiscal, according to a company statement. The company attributed the fall in revenue to lower earnings from its transmission projects. The company's net profit for the entire financial year stood at USD 50 million, compared to a net loss of USD 60 million in FY23. The clean energy major registered an 8.1 per cent jump in its total revenue to USD 1,158 million in FY24 from USD 1,072 million in FY23. The company said that the record profits were registered despite a marginal fall in the weighted average Plant Load Factor (PLF) for the reporting quarter as well as the financial year due to lower radiation and wind speeds. While the PLF for FY24 was 26.4 per cent

Sun Pharma expects high single-digit top line growth in current fiscal: MD

Drug major Sun Pharmaceutical Industries expects a high single-digit top line growth in the current fiscal, according to Managing Director Dilip Shanghvi. The Mumbai-based firm reported a consolidated total revenue from operations at Rs 48,497 crore for FY24. The number stood at Rs 43,886 crore in FY23. "We expect high single-digit consolidated top line growth for FY25. All our businesses are positioned for growth," Shanghvi said in an analyst call. He noted that in the current fiscal, the drug firm will be in the investment phase for its several businesses. "This includes, but not limited to, product launch costs in the US as the ramp-up of our global specialty business is expected to continue," Shanghvi said. He noted that R&D investments will be 8-10 per cent of sales during the year. Replying to a separate query, Shanghvi said: "We have to continue to invest for the future. And our effort would be that while we are creating that investment for future, we don't do it at the ..

Q4 results today: Tarai Foods and VAS Infra among 5 firms to post earnings

Q4FY24 company results: Add-Shop ERetail Ltd, Athena Constructions Ltd, and Panorama Studios International Ltd will release their fourth-quarter report on May 31

Oyo posts maiden profitable year with Rs 100 cr PAT in FY24: Ritesh Agarwal

Agarwal, in a post on social media platform X, added that he expects growth not just in India, but in other key markets like the Nordics, South East Asia, the US, and the UK as well

Q4 results today: Reliance Infra, Muthoot among 908 firms to post earnings

Q4FY24 company results: Apollo Hospitals, Bharat Dynamics, Welspun Corp, and Reliance Capital will be releasing their fourth-quarter report on May 30

Bata Q4 results: Net profit declines 3% to Rs 63.65 cr as expenses surge

The company, which also sells brands such as Hush Puppies and North Star in India, said its consolidated profit fell to Rs 63.65 crore ($7.6 million)in the three months ended March 31

Samvardhana Motherson Q4 results: Net profit jumps 2-fold to Rs 1,444 cr

Auto components maker Samvardhana Motherson International Ltd on Wednesday posted a two-fold jump in consolidated net profit to Rs 1,444 crore for the fourth quarter ended March 2024. The company had reported a net profit of Rs 699 crore in the January-March period of the last fiscal. Total revenue from operations rose to Rs 27,058 crore for the period under review as compared to Rs 22,517 crore in the last quarter of FY23. For the year ended on March 31, 2024, the company reported a net profit of Rs 3,020 crore as against Rs 1,670 crore in FY23. Total revenue from operations rose to Rs 98,692 crore in FY24 over Rs 78,788 crore in FY23. Motherson Chairman Vivek Chaand Sehgal said the company has maintained a healthy financial position by keeping leverage and debt under control. "Our automotive booked business of over USD 83.9 bn provides strong revenue visibility. We also foresee good traction from our non-automotive businesses, such as aerospace, consumer electronics, and health

Omaxe Q4 results: Net loss at Rs 145 cr, income up 82% at Rs 542 cr

Realty firm Omaxe Ltd has posted a consolidated net loss of Rs 145.05 crore in the quarter ended March 2024 despite rise in income. The company had posted a net loss of Rs 105.47 crore in the year-ago period. Total income rose 82 per cent to Rs 542.32 crore in the fourth quarter of last fiscal from Rs 298.17 crore in the corresponding period of the previous year, according to a regulatory filing. During 2023-24, Omaxe posted a net loss of Rs 402.60 crore as against a net loss of Rs 347.91 crore in the preceding year. Total income more than doubled to Rs 1,634.88 crore in the last fiscal from Rs 798.01 crore in 2022-23 fiscal. Omaxe is one of the leading real estate developers in North India.

Why is Nomura betting big on RIL, BEL, Exide, Sona BLW and Uno Minda?

As corporate capex picks up, it expects the Indian corporate sector to sustain 12 - 17 per cent earnings growth in the medium-term

RITES Q4FY24 results: Net profit marginally declines to Rs 137 crore

State-owned RITES Ltd on Tuesday reported a marginal fall of 1.59 per cent in its consolidated net profit to Rs 136.67 crore for the March quarter on account of fall in revenues. It had posted a profit of Rs 138.89 crore for the year-ago period, the company said in an exchange filing. The company's total income fell to Rs 667.68 crore in the January-March period from Rs 705.63 crore in the same period a year ago. Its expenses were at Rs 483.32 crore, down from Rs 514.17 crore in January-March FY23. The board of the company has declared a dividend of Rs 5 for the financial year 2023-24. RITES, under the Ministry of Railways, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

NMDC Q4 results: Net profit falls 38% to Rs 1,416 crore on higher expenses

State-owned iron ore miner NMDC on Monday reported a 38 per cent fall in its consolidated net profit to Rs 1,415.62 crore for the March quarter on account of increased expenses. It had posted a profit of Rs 2,276.94 crore for the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 6,908.37 crore in the January-March period from Rs 5,842.52 crore in the same period a year ago. Its expenses surged to Rs 4,519.64 crore from Rs 3,794.18 crore in January-March FY23. For the whole FY24 fiscal, the company's profit was at Rs 5,571.25 crore, higher than Rs 5,537.72 crore in 2022-23. Hyderabad-based NMDC is India's largest iron ore mining company catering to the country's around 20 per cent of the steel-making raw material.

Nalco Q4 results: PAT rises two-fold to Rs 996.7 cr on lower expenses

State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses. The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE. However, the consolidated total income during the quarter dropped to Rs 3,663.09 crore from Rs 3,726.76 crore in the year-ago period. The expenses of the company in the fourth quarter of FY24 dropped to Rs 2,720.42 crore from Rs 3,160.50 crore a year earlier. Nalco is a Navratna PSU under the ministry of mines. It is one of the largest integrated bauxite-alumina-aluminium-power complex in the country. The company has formed a JV company -- Angul Aluminium Park Pvt Ltd' (AAPPL) -- with Odisha Industrial Infrastructure Development Corporation (IDCO) to give a boost to ancillary, upstream and downstream products related to the aluminium industry.

LIC Q4 results: PAT rises 2% to Rs 13,763 cr, total income at Rs 2.5 trn

Insurance behemoth LIC on Monday posted a marginal 2 per cent increase in net profit at Rs 13,763 crore in the fourth quarter ended March 2024. The insurer had earned a profit of Rs 13,428 crore in the corresponding quarter a year earlier. The total income of the insurer during the reporting quarter rose to Rs 2,50,923 crore from Rs 2,00,185 crore in the same period of the previous fiscal, LIC said in a regulatory filing. LIC's income from first-year premium also improved to Rs 13,810 crore in the latest January-March quarter against Rs 12,811 crore in the same period of preceding fiscal. The income from renewal premiums in the reporting period rose to Rs 77,368 crore compared to Rs 76,009 crore a year ago. During the entire financial year ended March 2024, the insurer earned a profit of Rs 40,676 crore as compared to Rs 36,397 crore in the previous fiscal.