Page 46 - Corporate Earnings

Thomson Reuters results: Revenue rises 3% to $1.8 bn, beats expectations

The Toronto-based news and information provider reported a fourth-quarter revenue rise of 3% to $1.8 billion, largely in line with analyst estimates, according to LSEG data

Honeywell Automation Q3 results: Profit jumps to Rs 128 cr on govt spending

Profit at the Indian arm of U.S.conglomerate Honeywell International was Rs 128 crore ($15.4 million) for the three months ended Dec. 31, compared with 1.06 billion rupees a year earlier

Power Finance Corporation Q3 result: Net profit rises 20% to Rs 6,294 crore

State-owned Power Finance Corporation on Thursday said it has posted an over 20 per cent rise in its consolidated net profit to Rs 6,294.44 crore in the December quarter, on the back of higher revenues. The company's consolidated net profit was Rs 5,241.10 crore in the quarter ended on December 31, 2022, according to a BSE filing. Total income in the quarter rose to Rs 23,593.40 crore from Rs 19,662.65 crore in the same period a year ago. The board, in its meeting on Thursday, approved the declaration of a second interim dividend at the rate of 35 per cent, of Rs 3.50 per equity share, subject to deduction of TDS, on the face value of the paid-up equity shares of Rs 10 each for FY 2023-24. The date of payment /dispatch of the interim dividend shall be on or before March 9, 2024, the filing said. In a separate statement, the company said it has registered a 19 per cent rise in consolidated loan asset book from Rs 8,04,526 crore as on December 31, 2022, to Rs 9,54,483 crore as on ..

BEML Q3 results: Profit up marginally at Rs 66.85 cr on higher expenses

The state-owned company reported a consolidated profit before tax of Rs 66.85 crore ($8.1 million) in the quarter ended Dec. 31, up nearly 1% year-on-year

Apollo Hospitals Q3 results: Profit rises marginally to Rs 245 crore

The hospital chain operator's consolidated net profit rose 59% to Rs 245 crore ($29.5 million) in the three months ended Dec. 31, beating analysts' average estimate of Rs 240 crore, as per LSEG data

Power Grid Corporation Q3 results: Net profit rises 11% to Rs 4,028 crore

State-owned Power Grid Corporation on Wednesday posted a 10.5 per cent rise in consolidated net profit to Rs 4,028.25 crore in the December quarter, mainly on the back of higher revenues. Its consolidated net profit stood at Rs 3,645.29 crore in the year-ago period, the company said in a regulatory filing. Total income increased to Rs 11,819.70 crore in the third quarter of FY24 from Rs 11,530.22 crore a year ago. The company's board of directors, in their meeting on Wednesday, approved the payment of second interim dividend of Rs 4.50 per equity share of Rs 10 each (at the rate of 45 per cent of the paid-up equity share capital) for 2023-24. The second interim dividend shall be paid to members on March 5, 2024.

Tata Consumer Q3 result: Profit rises 27% to Rs 513 crore on festive demand

The company reported a consolidated profit before exceptional items and tax of 5.13 billion rupees ($61.8 million) in the quarter ended Dec. 31, up 27% from the year-ago period

Varroc Engineering Q3 results: PAT at Rs 384 cr, revenue rises 9.4%

Auto parts supplier Varroc Engineering on Wednesday reported a consolidated Profit After Tax (PAT) of Rs 383.9 crore in the December quarter, primarily driven by a tax benefit of Rs 313.1 crore. The company had reported a consolidated PAT of Rs 21.8 crore in the year-ago period. The revenue for the quarter rose 9.4 per cent to Rs 1,884.6 crore from Rs 1,722.8 crore a year back, the company said in a statement. The massive surge in PAT was on account of tax benefit amounting to Rs 313.1 crore, it said. "The tax benefit has come as we have written off the impairment-related losses pertaining to loan given to overseas entity of four-wheeler lighting business in Europe and America," Varroc said. "Despite de-growth in overseas markets in the quarter, the overall revenue from operations grew 9 per cent year-on-year to Rs 18,846 million, the reported PBT (Profit Before Tax) was Rs 708 million, which includes profit from our joint venture of Rs 250.7 million," Varroc Engineering Ltd CMD .

JK Paper Q3 results: Net profit falls 29% to Rs 236 cr on raw material cost

JK Paper Ltd on Thursday reported a 29.13 per cent decline in its consolidated net profit to Rs 236.36 crore for the third quarter ended December 2023, impacted by the rise in raw material cost and weak demand scenario. The company had posted a net profit of Rs 333.54 crore in the October-December quarter a year ago, according to a regulatory filing from JK Paper. The company is engaged in branded copier paper, coated paper and packaging boards. Its total income rose 4.15 per cent to Rs 1,762.32 crore during the quarter under review. It was Rs 1,692.06 crore in the corresponding quarter a year ago. "The results have been impacted due to an overall drop in sales realisation and a substantial increase in wood cost. The selling prices have been under pressure for some time due to rising trend in imports, coupled with weaker demand scenario," said Vice Chairman and Managing Director Harsh Pati Singhania. The total expenses surged 20.66 per cent to Rs 1,497.55 crore in the December 202

Apollo Tyres Q3 results: Profit surges 70% to Rs 736 crore, revenue up 2.7%

Consolidated pre-tax profit before exceptional items was Rs 736 crore (around $89 mn) in the quarter ended Dec 31, compared with Rs 424 crore a year earlier

Sobha Q3 results: Profit declines more than 50% to Rs 15.08 crore

Consolidated net profit for the Bengaluru-based company was Rs 15.08 crore ($1.8 million) in the quarter ended Dec 31, compared with Rs 31.81 crore a year earlier

Kalpataru Projects Q3 results: Profit rises over 32% to Rs 144 crore

Engineering major Kalpataru Projects International (KPIL) on Wednesday reported over 32 per cent jump in its consolidated net profit to Rs 144 crore in December quarter compared to a year ago mainly on the back of higher revenues. Its profit stood at Rs 109 crore in the quarter ended on December 31, 2022, a regulatory filing showed. Total income increased to Rs 4,910 crore in the December quarter from Rs 4,006 crore in the same period a year ago. The board in its meeting on Wednesday, approved the proposal for issuance of secured/unsecured redeemable Non-Convertible Debentures up to Rs 300 crores by the company in one or more tranches. The company said in a separate statement that it received new orders of Rs 380 crores in Q4 FY24 till date and YTD (Year to Date) FY24 order inflows stand at Rs 18,065 crores. The order book at Rs 51,753 crores as on December 31, 2023, an increase of 25 per cent YoY (Year on Year). Manish Mohnot, MD & CEO, KPIL said,"KPIL has delivered another ...

Trent Q3 results: Net profit rises two-fold to Rs 370.6 cr, revenue up 50%

Tata Group retail firm Trent Ltd on Wednesday reported a two-fold rise in consolidated net profit to Rs 370.64 crore for the third quarter ended December 2023, helped by strong momentum in sales and improved margins. The company had posted a consolidated net profit of Rs 154.81 crore a year ago, Trent Ltd said in a regulatory filing. Trent Ltd operates retail stores under the brand name Westside, Zudio and Star. Its consolidated revenue from operations surged 50.5 per cent to Rs 3,466.62 crore during the quarter under review. It was Rs 2,303.38 crore in the year-ago period, it added. Trent's total expenses rose 41.64 per cent in the December quarter to Rs 3,101.44 crore. "Across formats, we continued to register consistent growth, serving as a reaffirmation of our strategic choices. Our operating discipline, coupled with a focus on the speed of execution, supported our expansion agenda. Change in the revenue profile across formats remains aligned with our strategic objectives and

Spotify Q4 results: Revenue up 16% at $3.94 bn, user growth beats estimates

The Swedish music streaming company has ventured into podcasts and audiobooks as it seeks to grow its user base to 1 billion by 2030

EIH Q3 results: Net profit up 54.6% to Rs 229.9 crore, income up 27.6%

EIH Limited, the flagship company of luxury hotel chain The Oberoi Group, on Tuesday reported a consolidated profit after tax of Rs 229.94 crore in the third quarter ended December, up 54.6 per cent from Rs 151.08 crore in the year-ago period. Total income increased to Rs 769.87 crore, registering a growth of 27.6 per cent from Rs 603.22 crore in the corresponding quarter of the previous financial year, a regulatory filing showed. The company's total expenses rose to Rs 456.01 crore during the quarter under review, from Rs 415.99 crore a year ago.

Akzo Nobel India Q3 results: Net profit rises 16.8% to Rs 114 crore

Paints and coatings maker Akzo Nobel India Ltd on Tuesday reported a 16.83 per cent increase in its consolidated net profit to Rs 113.8 crore in the December quarter, helped by a double-digit growth in volumes and raw material deflation. The company posted a net profit of Rs 97.4 crore during the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations grew 4.65 per cent to Rs 1,032.7 crore during the quarter under review. It was Rs 986.8 crore in the corresponding period of the previous fiscal. Total expenses of Akzo Nobel, maker of Dulux paints, rose 2.53 per cent to Rs 889.6 crore in the December quarter. Akzo Nobel's total income in the third quarter was Rs 1,041.1 crore, up 4.19 per cent. "For the first time, our quarterly topline has surpassed the milestone of Rs 1,000 crore mark, led by double-digit growth in volumes. Our Coatings business and B2B segments sustained their robust growth trajectory," its Chairman and Managing Director

Berger Paints Q3 results: Net profit jumps 49% to Rs 300 cr, revenue up 7%

Berger Paints on Tuesday posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year. Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a regulatory filing. Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, witnessed an increase of 37.3 per cent to Rs 480 crore during the period under review as compared to the corresponding quarter last year. "The quarter witnessed strong growth on the volume front and robust increase in operating profits," Berger Paints MD & CEO Abhijit Roy said. The growth rates in tier 2 and tier 3 cities were higher than that of tier 1 cities, he said. The paint maker continued with its "aggressive growth" in the waterproofing and construction chemicals segment. "New product introductions were made in the sealants and roof waterproofing category to fortify

Affle Q3 results: Net profit up 11% at Rs 76.8 cr, revenue increases by 33%

Tech company Affle on Saturday reported an 11.36 per cent increase in its consolidated net profit to Rs 76.81 crore for the October-December quarter of 2023-24 compared to Rs 68.97 crore in the year-ago period. The company's revenue from operations rose to Rs 498.70 crore in the third quarter (Q3) of FY24 from Rs 376.06 crore in Q3 of FY23, translating into a 32.61 per cent hike, a statement said. The company said that its Earning Before Interest Tax Depreciation and Amortisation (EBITDA) stood at Rs 96.7 crore in the quarter, up by 20.3 per cent year-on-year. Anuj Khanna Sohum, MD and CEO, Affle, said, "In Q3 FY2024, we have further raised our performance bar having achieved our highest quarterly revenue run-rate, highest EBITDA, PAT and consumer conversions till date. "We continue to witness a robust market opportunity as advertisers steadily accelerate their digital spending, resulting in a broad-based growth in our CPCU business, coming across our top industry verticals ...

Salasar Techno Engineering Q3 results: Net profit grows to Rs 17 cr

Salasar Techno Engineering Ltd (STEL) on Saturday reported a 56 per cent rise in its consolidated net profit to Rs 16.76 crore for the December quarter. It had posted a net profit of Rs 10.69 crore during the October-December quarter in 2022-23, the company said in an exchange filing. The company's total income rose to Rs 304.35 crore from Rs 240.93 crore in the year ago period. Its expenses were at Rs 281.22 crore as against Rs 226.54 crore in the third quarter last fiscal. New Delhi-based STEL is a steel structural manufacturer and EPC infrastructure company, providing services across telecom, energy and railways.

Reliance Power Q3 results: Net loss rises to Rs 1,136.7 cr on high expenses

Reliance Power Ltd on Saturday reported widening of its consolidated net loss to Rs 1,136.75 crore during the quarter ended December 2023, due to increased expenses. It had posted a net loss of Rs 291.54 crore during the October-December period of preceding 2022-23 financial year, the company said in an exchange filing. The company's total income increased marginally to Rs 2,001.54 crore in the reporting quarter compared to Rs 1,936.29 crore in the year-ago quarter. The company's expenses surged to Rs 3,179.08 crore in the quarter from Rs 2,126.33 crore a year ago. Reliance Power is the country's leading private sector power generation and coal resources company.