Page 43 - Corporate Earnings

Corporate earnings, Fed interest rate decision to drive markets: Analysts

Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading. Domestic equity markets would remain closed on Wednesday on account of Maharashtra Day. "Domestically, the next batch of Q4 earnings reports will drive stock-specific movements," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Monthly auto sales figures will be announced at the beginning of May, and the next phase of voting will be significant, he said. "On the global front, the outcome of the US Federal Open Market Committee (FOMC) meeting on May 1st will be important. Economic data releases from China and the US, along with movement in the global currency market, will also be the factors to

Bajaj Finserv Q4 results: Profit rises 20%, total income at Rs 32,042 cr

Bajaj Finserv Ltd (BFL) on Friday reported a 20 per cent increase in consolidated net profit to Rs 2,119 crore for the March quarter. The company had posted a net profit of Rs 1,769 crore in the year-ago period. The total consolidated income during the fourth quarter of FY24 increased to Rs 32,042 crore, as against Rs 23,625 crore in the year-ago period, BFL, the holding company for the various financial services businesses under the Bajaj group, said in a regulatory filing. The Board of Directors has recommended a dividend of Re 1 (100 per cent) per equity share of face value of Re 1, for the financial year ended March 31, 2024. The total amount of dividend outgo would be Rs 159.55 crore as compared to Rs 127.43 crore in the previous fiscal. For the financial year 2023-24, the company witnessed a 27 per cent increase in profit to Rs 8,148 crore, as against Rs 6,417 crore in the previous fiscal. The total consolidated income rose to Rs 1,10,383 crore, as against Rs 82,072 crore i

Usha Martin Q4 result: PAT rises 1% to Rs 106 cr, income falls to Rs 838 cr

Usha Martin on Friday reported a marginal 1 per cent rise in consolidated profit after tax (PAT) to Rs 106.33 crore for the March quarter of FY24. The company had posted a PAT of Rs 105.32 crore in the year-ago period, Usha Martin said in a filing to the BSE. The consolidated income in the January-March period declined to Rs 838.5 crore from Rs 866.5 crore in the year-ago period. Commenting on the performance, Usha Martin Non-Executive Director Tapas Gangopadhyay said, "We have concluded the financial year 2023-24 on a positive note with our robust operating cash flows, reflecting strong performance." Despite facing macro-economic challenges, the company managed to generate an 18.6 per cent EBITDA margin during the year, he said. "Notably, our core wire ropes division continued to perform well and contributed 71 per cent to our overall consolidated revenues," Gangopadhyay added. Usha Martin is a leading specialty steel wire rope solutions provider.

NDTV Q4 result: Net loss at Rs 8.74 cr, revenue up 59% on digital expansion

News broadcaster NDTV Ltd on Friday reported a 59 per cent jump in March quarter revenue as it expanded digital footprint, gaining a 39 per cent rise in traffic. Consolidated net loss of Rs 8.74 crore in January-March compared with loss of Rs 1.35 crore profit in the same period a year back, according to a stock exchange filing by the company. Loss, however, narrowed from Rs 10.13 crore in the December quarter as its digital footprint expanded and gained traction. Revenue from operations rose to Rs 106.52 crore from Rs 66.96 crore in the January-March period. "NDTV Convergence, the company's digital arm also witnessed a significant 39 per cent increase in global digital traffic in March 2024 over April 2023 on its platforms," a company statement said. "The NDTV Group's ability to adapt to evolving consumer preferences and market dynamics has been instrumental in driving this impressive growth," it said. Attrition was down 58 per cent from previous year. During the financial year

Mahindra Holidays & Resorts Q4 results: PAT jumps 47.7% to Rs 83.2 cr

Mahindra Holidays & Resorts India Ltd on Friday reported a 47.7 per cent rise in consolidated profit after tax of Rs 83.2 crore for the March 2024 quarter against Rs 56.3 crore a year ago. For the entire 2023-24, the company reported a consolidated profit after tax of Rs 116.05 crore against Rs 113.82 crore in the preceding fiscal, according to a regulatory filing. During the January-March quarter, Mahindra Holidays & Resorts India Ltd reported a total income of Rs 830.34 crore compared to Rs 735.26 crore a year ago. Its total expenses during the quarter under review rose to Rs 720.86 crore from Rs 658.23 crore in the January-March period of the previous year. The company said it has recorded robust member additions at 20,019 during 2023-24, up 15 per cent year-on-year. The company's shares closed at 434.10 apiece, up 1.99 per cent from their previous close on the BSE.

Mphasis Q4 results: Net profit declines 3% to Rs 393 crore

IT company Mphasis posted a 2.98 per cent decline in consolidated net profit to Rs 393.2 crore in the March quarter of FY24. The company posted a net profit of Rs 405.3 crore in the same period a year ago. The consolidated revenue from operations of Mphasis Group, however, increased marginally to Rs 3,142 crore during the fourth quarter of the previous fiscal from Rs 3,361.2 crore a year ago, the company said in a regulatory filing. During the reporting quarter, Mphasis registered new TCV (total contract value) wins of USD 177 million (about Rs 1,475 crore). "We are experiencing strong growth momentum in Artificial Intelligence (AI) powered deal archetypes, as we look to capture the enterprise demand for AI adoption. "Our ability to orchestrate the ecosystem by bringing technology and people together to solve for customer needs strongly positions us for growth in FY25, while we continue to work around the uncertainties in the overall economic environment," Mphasis, Chief Executive

Tech Mahindra Q4: Stock zooms 13% as management eyes 'turnaround' in FY25

Tech M stock price: The management indicated that FY25 will be a year of turnaround followed by stabilisation in FY26 and strong returns from FY27

IHC Q4 result: PAT rises 29% to Rs 438 cr, total income at Rs 1,951 cr

The Indian Hotels Company Ltd (IHCL) on Wednesday reported a 29.36 per cent growth in consolidated profit after tax to Rs 438.33 crore in the fourth quarter ended March 2024. The hospitality company had reported a Profit After Tax (PAT) of Rs 338.84 crore in the year-ago period. For the financial year 2023-24, IHCL reported a consolidated PAT of Rs 1,330.24 crore as against Rs 1,052.83 crore in the previous fiscal. Its total income rose to Rs 1,951.46 crore during the quarter under review, from Rs 1,654.54 crore in the corresponding period of the previous year, according to a regulatory filing. However, its total expenses also increased to Rs 1,416.77 crore as against Rs 1,254.52 crore a year ago. Puneet Chhatwal, Managing Director & CEO of IHCL, said, "With 53 signings in FY2024, IHCL achieved a portfolio of 310 hotels, enabled by attaining scale in each of our brands and forming strategic alliances in new market segments". He shared that looking ahead at FY25, IHCL will continu

Macrotech Developers Q4: PAT down 11% to Rs 665 cr, FY24 profit up 300%

Realty firm Macrotech Developers on Wednesday reported an 11 per cent decline in consolidated net profit to Rs 665.5 crore in the March quarter. However, for the full fiscal year, the company registered a three-fold jump in profit to Rs 1,549.1 crore. Its net profit stood at Rs 744.4 crore in the fourth quarter of 2022-23 and Rs 486.7 crore in the entire 2022-23 fiscal. The company's total income grew to Rs 4,083.9 crore in the quarter under review from Rs 3,271.7 crore in the year-ago period, the company said in a regulatory filing. During 2023-24, the company's total income rose to Rs 10,469.5 crore from Rs 9611.2 crore in the 2022-23 fiscal. Macrotech is one of the leading real estate firms in the country. The company markets its properties under Lodha brand.

CPCL Q4 results: Net profit falls 39% to Rs 628 cr on foreign exchange loss

Chennai Petroleum Corporation Ltd, a subsidiary of Indian Oil Corporation (IOC), on Wednesday reported 39 per cent drop in March quarter net profit on lower prices and foreign exchange loss. Consolidated net profit of Rs 627.89 crore in January-March FY24 was lower than Rs 1,012.81 crore earning in the same period last year, according to a stock exchange filing of the company. The profit was up 71 per cent when compared with Rs 365.3 crore earning in December quarter. Revenue from operations was lower at Rs 20,822.95 crore as against Rs 21,350.05 crore in January-March FY23. The company earned USD 8.64 on turning every barrel of crude oil into fuel in the year to March 31, 2024 as opposed to a gross refining margin of USD 11.91 per barrel in the previous year. Gross refining margin (GRM) for the quarter stood at USD 7.71 per barrel, compared to (-) USD 16.6 per barrel a year ago. Also, the company booked a foreign exchange loss of Rs 15.84 crore during January-March as compared

Axis Bank Q4 results: Net profit at Rs 7,129 crore, NII grows 11%

Private sector lender Axis Bank on Wednesday reported a net profit of Rs 7,129 crore for the fourth quarter ended March 31, 2024. The bank had reported a net loss of Rs 5,728 crore in the March quarter of 2022-23 fiscal. Total income rose to Rs 35,990 crore in the March quarter of 2023-24 fiscal, from Rs 28,758 crore in the year-ago period. The bank's Net Interest Income (NII) grew 11 per cent Year-on-Year (YoY) to Rs 13,089 crore. For 2023-24 fiscal, the net profit jumped 160 per cent to Rs 24,861 crore. The numbers for the March quarter of 2022-23 fiscal and the full fiscal include the impact of exceptional items relating to the Citibank business acquisition, Axis Bank said. Its balance sheet grew 12 per cent YoY to Rs 14,77,209 crore as on March 31, 2024. The bank issued 1.24 million new credit cards in the March quarter of FY24 and has been one of the highest credit card issuers in the country over the last nine quarters, Axis Bank said in a regulatory filing. The bank's bo

Nippon Life AMC Q4 results: Profit after tax jumps 73% to Rs 343 crore

Nippon Life India Asset Management Ltd on Wednesday reported its highest-ever quarterly profit after tax (PAT) at Rs 343 crore for the March quarter, marking a 73 per cent jump from the year-ago period. The company had posted a PAT of Rs 198 crore in the year-ago period, the asset management firm said in a stock exchange filing. Total income rose to Rs 560.57 crore during the fourth quarter of FY24 from Rs 388.03 crore in the year-ago period. Reacting to the strong quarterly performance, shares of Nippon Life India Asset Management surged 11 per cent to hit their 52-week high at Rs 623.40 in the intra-day trade on the BSE. Also, the company's board has recommended a final dividend of Rs 11 per equity share for the financial year ended March 31, 2024. With this, the total dividend for 2023-24 will be Rs 16.50 per share, including the interim dividend of Rs 5.50 apiece distributed in November 2023. Nippon Life India Asset Management is the asset manager of Nippon India Mutual Fund.

Downside risk in Persistent Systems remains despite price correction

Margins were impacted by one-time transition costs due to onsite ramp-up using subcontractors, lower utilisation on account of lateral hiring for ramp-up and higher travel expenses

Brokerages raise targets on RIL stock post Q4; check latest prices here

The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical

Tata Elxsi Q4 results: Profit declines 2% to Rs 196.93 cr, misses estimates

Tata Elxsi, a provider of design-led technology services, on Tuesday reported a 2.2 per cent decline in net profit at Rs 196.93 crore in the fourth quarter ended in March. The company had posted a net profit of Rs 201.51 crore in the same period of the previous fiscal, Tata Elxsi said in a regulatory filing. Revenue from operations in the quarter under review stood at Rs 905.94 crore as against Rs 837.91 crore in the year-ago period, it added. The company said its total expenses were higher at Rs 677.21 crore compared to Rs 613.39 crore a year ago. For the fiscal ended March 31, 2024, the company's net profit was Rs 792.23 crore over Rs 755.19 crore reported in FY23, it said. In FY24, revenue from operations stood at Rs 3,552.14 crore from Rs 3,144.72 crore a year ago, the company said. The company's board has recommended a final dividend of 700 per cent, which is Rs 70 per equity share of par value of Rs 10 each, for the financial year ended March 31, 2024, subject to approval b

ICICI Prudential Life Insurance Q4 results: PAT declines 26% to Rs 174 cr

The decline in VNB margin is primarily on account of the shift in the underlying product mix towards unit-linked business, the company said in an exchange filing

Hatsun Agro Q4 results: Profit after tax rises over 100% to Rs 52.16 crore

Dairy and dairy products maker Hatsun Agro has reported a 108.76 per cent rise in its January-March 2024 quarter profit after tax at Rs 52.16 crore, the company said on Tuesday. The city-based company had registered a profit after tax of Rs 24.99 crore in the same period last year. Revenues during the quarter under review grew to Rs 2,046.87 crore as against Rs 1,789.46 crore registered in the same period of last year. For the financial year ending March 31, 2024, the profit after tax surged by 61.15 per cent to Rs 267.29 crore from Rs 165.86 crore registered in the same period of last fiscal. Revenue for the year ending March 31, 2024, grew by 10.26 per cent to Rs 7,990.40 crore from Rs 7,246.97 crore registered a year ago. In a statement, the company said normalcy has been restored during the second half of 2023-24, on procurement and sales of milk as it was impacted due to the COVID-19 pandemic for two years. Commenting on the financial performance, Hatsun Agro Product Ltd Cha

Kesoram Q4 results: Net loss widens to Rs 244 crore, sales marginally up

B K Birla Group company Kesoram Industries Ltd posted a consolidated net loss of Rs 244.42 crore for the quarter ended March 2024, despite higher sales. The cement maker's net loss in the fourth quarter of the 2023-24 fiscal (FY'24) has widened from Rs 48.86 crore in the corresponding quarter of the previous year. Consolidated sales during the quarter under review stood at Rs 1,073 crore as against Rs 960 crore registered in Q4 FY'23, the company said in a regulatory filing. The net loss in 2023-24 nearly doubled to Rs 384 crore as compared to the Rs 194 crore loss posted in the previous year. Cement accounts for almost 94 per cent of its total revenue, while the rest comes from segments like rayon, transparent paper, and chemicals. Company officials attributed the loss in the January-March quarter to higher costs and the repayment of its high-cost NCDs of Rs 1,683 crore as part of swapping its debt. Kesoram Industries has decided to sell its cement business to UltraTech Cement f

HUL to HDFC Bank and ITC: These 10 NSE 200 stocks may zoom 20-40% in a year

Here are 10 stocks, covered by at least 10 brokerages, which are most likely to zoom based on their price target over the next year

Arya.ag FY24 results: Profit up 37% at Rs 17 cr despite weather challenges

Agri-tech platform Arya.ag on Monday posted 37 per cent rise in net profit at Rs 17 crore for 2023-24 despite weather-related hurdles and challenges posed by policy changes. The company had reported a net profit of Rs 12.4 crore in 2022-23. Net revenue increased to Rs 360 crore during 2023-24 from Rs 297 crore in the previous year, the company said in a statement. The platform facilitated Rs 22,796 crore worth of commodities, disbursed Rs 12,895 crore with nearly zero NPAs, and enabled commerce worth Rs 4,523 crore during 2023-24, it said. "In a year fraught with policy changes and weather-related hurdles, Arya.ag has not only weathered the storm but thrived, posting impressive financial results for fiscal year 2023-24," it added. In the coming financial year, Arya.ag said,"Given the climate-induced stress in agriculture, we will work with farmers, Farmers Producer Organisations (FPOs) and climate champions' to build trust, optimise resource allocation, and minimise adverse ...