Page 47 - Corporate Earnings

Adani Total Gas Q3 results: Net profit rises 18% on higher CNG sales

The company, which distributes piped gas to various Indian cities, said consolidated profit rose to 1.77 billion rupees ($21 million) for quarter ended Dec 31 from 1.50 billion rupees a year earlier

TeamLease Q3 results: Profit rises 7% on strong general staffing business

Overall consolidated revenue from operations rose nearly 22% to 24.45 billion rupees

Shriram General Insurance Q3 results: Net profit jumps 51% to Rs 117 cr

Shriram General Insurance reported a 51 per cent growth in net profit to Rs 117 crore for the December quarter on higher premium income, market gains, and better claims management. The company said its premium income grew 41 per cent during the quarter, led by motor business that rose 42 per cent, personal accident segment that clipped past 57 per cent, and fire insurance grew 14 per cent, taking the gross written premium during the period to Rs 850 crore. The Jaipur-based Shriram group company underwrote 10 per cent more policies during the reporting period, adding 1,681,086 new customers. The company said it has settled 47,006 claims during the third quarter of the ongoing fiscal, compared to 38,937 in the year-ago period. Motor premium grew to Rs 779 crore, which was 42 per cent higher than Rs 549 crore, personal accident segment rose 57 per cent from Rs 21 crore to Rs 33 crore, fire business went up 14 per cent to Rs 24 crore, and engineering premium rose to Rs 5 crore from Rs

'Macrotech Developers aims to generate surplus cash in Q4, reduce debt'

Realty firm Macrotech Developers Ltd will focus on generating surplus cash flow and reducing debt by at least 11 per cent this quarter to Rs 6,000 crore helped by strong housing demand, its MD and CEO Abhishek Lodha said. In an interview with PTI, he expressed confidence in achieving sales bookings guidance of Rs 14,500 crore for this fiscal year on the back of a strong launch pipeline in the current January-March quarter. Mumbai-based Macrotech Developers markets its properties under the Lodha brand. It is one of the leading real estate developers in the country with a major presence in Mumbai Metropolitan Region (MMR) and Pune. "Under new business development, we have already added many land parcels in the first nine months of this fiscal with an estimated revenue potential of Rs 20,300 crore as against the full-year target of Rs 17,500 crore. We will not be adding any meaningful projects this quarter," Lodha said. Macrotech Developers buys land outright and also partners with ..

Bajaj Finserv Q3 results: Net profit increases by 22% to Rs 2,158 crore

Bajaj Finserv on Tuesday reported a 22 per cent increase in consolidated net profit to Rs 2,158 crore for the December quarter. The diversified financial services group had earned a net profit of Rs 1,782 crore in the year-ago period. The company's total income increased to Rs 29,038 crore in the third quarter of the ongoing fiscal from Rs 21.755 crore in the year-ago period, Bajaj Finserv said in a regulatory filing. Interest income during the quarter increased to Rs 13,922 crore as against Rs 10,430 crore in the same period a year ago. Total expenses also moved up to Rs 23,609 crore from Rs 17,336 crore in the same quarter a year ago. During the quarter, its subsidiary Bajaj Allianz Life Insurance Company posted shareholders' profit at Rs 108 crore from Rs 81 crore, registering an increase of 33 per cent. Non-life arm Bajaj Allianz General Insurance profit remained flat at Rs 281 crore as compared to Rs 278 crore in the year-ago period.

Nuvoco Vistas Q3 results: Profit stands at Rs 31 cr, revenue at Rs 2,421 cr

Nuvoco Vistas Corp, the building materials division of the Nirma Group, on Monday, reported a net profit of Rs 31 crore in the December quarter against a net loss of Rs 75.3 crore in the year-ago period. The turnaround came on a revenue of Rs 2,421 crore and a 55 per cent jump in operating profit to Rs 421 crore, the company said in a statement. The recovery was on the back of per tonne realisation of Rs 1,048 which is the highest in the past 10 quarters. After its recent acquisitions, the installed cement capacity has touched 25 million tonnes per annum, making it the fifth-largest cement maker in the country and a leading player in the eastern states. The consolidated sales stood at 4.02 mt in the reporting quarter, taking its realization to Rs 2,421 crore. The company has successfully commissioned a 1.2 mt cement mill in Haryana during the quarter, taking the overall capacity to 25 mt. Premium products continue to remain a key focus area and have contributed significantly, with

R R Kabel Q3 results: Net profit marginally falls to Rs 70.96 crore

The company's consolidated profit fell 0.7% to 709.6 million Indian rupees ($8.5 million) in the quarter, according to an exchange filing

UTI AMC Q3 results: Profit jumps 3-fold to Rs 186 cr, revenue up 52%

UTI Asset Management Company (AMC) on Monday posted a three-fold jump in profit after tax to Rs 186 crore in the December quarter. The company's profit after tax (PAT) was Rs 60.43 crore in the year-ago period, UTI AMC said in a regulatory filing. Its total revenue from operations surged 52 per cent to Rs 449 crore during the quarter under review from Rs 295 crore in the October-December period of FY23. For the quarter ended December 31, 2023, the total assets base of the company stood at Rs 17.6 lakh crore. This includes UTI Mutual Fund's average assets under management (AUM) of Rs 2.73 lakh crore. "The increasing financial literacy and rising incomes in the nation, combined with the upward trend in returns from Indian markets, have significantly contributed to the expanding financialisation of savings. "However, a substantial portion of the population remains untapped in terms of investment participation," Imtaiyazur Rahman, Managing Director and Chief Executive Officer of UTI A

Kamdhenu Q3 results: Profit falls 7% to Rs 11 cr, income falls to Rs 157 cr

TMT maker Kamdhenu Ltd on Monday posted a 7 per cent decline in its net profit to Rs 11.14 crore during the December 2023 quarter, mainly due to lower income. It had clocked a net profit of Rs 12.02 crore during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing. The company's total income fell to Rs 157.45 crore from Rs 183.17 crore in the year-ago quarter. However, it trimmed its expenses to Rs 142.43 crore from Rs 167.06 crore a year ago. In a statement, Kamdhenu CMD Satish Agarwal said, "In (April-December) 9M FY24, revenues marginally de-grew by 3 per cent year-on-year (y-o-y) to Rs 549 crore. EBITDA stood at Rs 43 crore and PAT increased by 10 per cent y-o-y to Rs 33 crore. Our total brand sales turnover for 9M FY24 stood at Rs 15,700 crore". The decrease in revenues and EBITDA is primarily attributed to a temporary reduction in construction activities in the Delhi NCR region during the third quarter due to the implementation

LatentView Analytics Q3 results: PAT falls to Rs 46 cr, income at Rs 188 cr

Global digital consulting and solutions firm LatentView Analytics Ltd reported a profit after tax of Rs 46.50 crore for the October-December 2023 quarter, as announced by the company on Monday. During the corresponding quarter of the previous financial year, the city-headquartered company had reported a profit after tax of Rs 52.4 crore. For the nine-month period ending December 31, 2023, the profit after tax stood at Rs 113.40 crore, compared to Rs 121.22 crore during the same period last year. Total income during the quarter under review grew to Rs 188.69 crore from Rs 167.45 crore in the same period last year. For the nine-month period ended December 31, 2023, total income rose to Rs 526.93 crore, compared to Rs 438.42 crore in the same period last year. LatentView Analytics Chief Executive Officer Rajan Sethuraman commented on the financial performance, stating, "We are particularly proud to cross the significant milestone of this being the first-ever quarter to achieve USD 20

Adani Energy Solutions Q3 results: Net profit down 27% at Rs 348 crore

Adani Energy Solution (AEML) on Monday posted over 27 per cent decline in its consolidated net profit to Rs 348.25 crore in the October-December quarter compared to the year-ago period. The country's e largest private power transmission and distribution company had reported a consolidated net profit of Rs 478.07 crore in the quarter ended on December 31, 2022, driven by a one-time regulatory income of Rs 240 crore. AEML in an exchange filing explained that the net profit in the third quarter of this fiscal includes a miscellaneous income of Rs 136 crore on account of the USD 120 million bond buy-back. The comparable PAT of Rs 281 crore was 1 per cent higher compared to Rs 280 crore in the year-ago quarter. Total income rose to Rs 4,824.42 crore in the third quarter of FY24 from Rs 3,719.31 crore in the same period a year ago. On operational parameters, it was a strong quarter with an average system availability of over 99.7 per cent, it stated. The business added 302 circuit ...

Utkarsh Small Finance Bank Q3 results: Profit jumps 24% to Rs 116 crore

Utkarsh Small Finance Bank on Saturday posted a 24 per cent increase in its profit at Rs 116 crore in the third quarter ended December 2023. The bank had earned a net profit of Rs 93.5 crore in the same quarter a year ago. Total income rose to Rs 889 crore during the quarter under review as against Rs 712 crore in the year-ago period, the bank said in a regulatory filing. The bank's interest income grew to Rs 806 crore as compared to Rs 641 crore in the October-December period of the previous financial year. As regards asset quality, gross Non-Performing Assets (NPAs) of the bank declined to 3.04 per cent of the gross loans by the end of December 2023 from 3.58 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.19 per cent from 0.72 per cent at the end of the third quarter in FY22.

Mangalam Cement Q3 results: Profit at Rs 15.9 crore, revenue up 2.4%

Mangalam Cement Ltd on Saturday reported a multi-fold jump in its net profit to Rs 15.95 crore for the quarter ended in December 2023. The company had posted a profit of Rs 0.52 crore in the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations was up 2.38 per cent to Rs 439.43 crore during the quarter under review against Rs 429.19 crore in the year-ago period. Total expenses in the December quarter were down 5.3 per cent to Rs 418.06 crore against Rs 441.50 crore in the third quarter of FY23.

Macrotech Developers Q3FY24 results: Net profit up 25% at Rs 505 cr

Realty firm sees strong demand boost, with sales and income surging

Cholamandalam Q3 results: Net profit up 28% at Rs 876 cr on interest income

Cholamandalam Investment & Finance Company on Thursday reported a 28 per cent increase in net profit to Rs 876 crore for the December quarter driven by higher disbursements and the resultant interest income. The Chennai-based company disbursed 27 per cent more loans at Rs 22,383 crore in the quarter, taking the overall loan book to Rs 63,940 crore, which jumped 40 per cent on-year. The total AUM stood at Rs 1,41,143 crore which was 36 per cent more than the year-ago period. Net interest income for the quarter rose by 41 per cent to Rs 2,580 crore. Vehicle finance book grew 18 per cent to Rs 12,354 crore aided by steady growth in used volume, while loan against property grew 51 per cent to Rs 3,409 crore and home loans grew 48 per cent to Rs 1,587 crore driven by branch expansion into small towns. SME loans grew 11 per cent to Rs 1,981 crore and consumer and small enterprise loans jumped 48 per cent to Rs 2,773 crore. Its gross NPAs marginally declined to 3.92 per cent as against

Websol Energy System Q3 results: Net loss at Rs 54 cr on asset impairment

Websol Energy System on Thursday reported a net loss of Rs 54 crore for the December 2023 quarter, mainly due to the impairment of a few assets. "The company has reported a loss of Rs 54.64 crore for the quarter ending December 2023," a BSE filing stated. The company explained that this loss will be carried forward and adjusted against future profits. The reason for such loss is that few assets have to be impaired as new assets from the expansion will be replacing the same, it added. The company also suffered a loss of Rs 6.83 crore in the year-ago quarter ended December 2022. As per an estimation, Rs 96.86 crore of fixed assets (plant and machinery) would be impaired during the current financial year. Further, it stated that certain fixed assets to the extent of Rs 26.23 crore may need to be impaired, and the same will be ascertained after detailed impairment analysis and commencement of commercial production to finally ascertain certain assets, which can continue to be used.

Sterlite Tech Q3 results: Loss at Rs 57 crore amid optical demand headwinds

Optical and digital solutions company Sterlite Technologies (STL) on Thursday reported a loss of Rs 57 crore on a consolidated basis in December quarter 2023-24, hit by ongoing optical demand headwinds, especially in the US and parts of Europe. The company had posted a net profit of Rs 51 crore in the year-ago period. Revenue from operations was Rs 1,322 crore in Q3FY24, the company said in a regulatory filing. Revenue stood at Rs 1,883 crore in the year-ago period. EBITDA declined sequentially to Rs 109 crore from Rs 216 crore. "The company reported a sequential decline in revenue and EBITDA in Q3 FY24 amidst ongoing optical demand headwinds, especially in the US and parts of Europe," STL said in a release. Ankit Agarwal, Managing Director of STL said the downturn is temporary. While this downturn is temporary, the cost base and capabilities that we have built around product design, quality, manufacturing presence, and sustainability will reap benefits far into the future," Agar

Tata Technologies Q3 results: PAT rises 14.72% to Rs 170.22 crore

Global engineering and product development digital services firm Tata Technologies Ltd on Thursday reported a 14.72 per cent rise in consolidated profit after tax at Rs 170.22 crore for the third quarter ended December 2023. The company had posted a consolidated profit after tax (PAT) of Rs 148.38 crore in the same quarter last fiscal, Tata Technologies said in a regulatory filing. Its consolidated revenue from operations in the quarter under review stood at Rs 1,289.45 crore against Rs 1,123.89 crore in the year-ago period, it added. The total expenses were higher at Rs 1,085.14 crore compared to Rs 947.42 crore in the same period last fiscal, the company said. "Our deal win momentum has stayed robust, with five large deals won in the quarter, including one deal with over USD 50 million in TCV (total contract value) and another one with USD 25 million in TCV," Tata Technologies CEO and Managing Director Warren Harris said. "We remain positive on customer spending in the automotiv

LT Foods Q3 results: Net profit soars by 52% to Rs 153 cr, revenue up 9%

LT Foods Ltd on Thursday reported 52.07 per cent rise in consolidated net profit at Rs 152.64 crore for the third quarter ended December 2023. It had logged a net profit of Rs 100.37 crore in the year-ago period, according to a regulatory filing by LT Foods, which owns basmati rice brands Daawat and Royal. Revenue from operations was up 9.17 per cent to Rs 1,941.72 crore during the quarter under review as against Rs 1,778.47 crore a year ago. Total expenses were up 5.46 per cent to Rs 1,757.67 crore. Total income was at Rs 1,949.68 crore, higher by 8.8 per cent from the corresponding quarter a year ago. Meanwhile, the board of LT Foods in a meeting held on Thursday, also approved issuance and listing of commercial papers for an amount of Rs 500 crore. Shares of LT Foods on Thursday settled at Rs 196.05 apiece on BSE, down 4.01 per cent from the previous close.

Adani Power Q3 results: Net profit rises multi-fold to Rs 2,738 crore

Adani Power on Thursday posted a multi-fold increase in its consolidated net profit to Rs 2,738 crore for the December quarter compared to the year-ago period driven by higher revenues. The company had reported a profit of Rs 9 crore in the third quarter of 2022-23. Total income rose to Rs 13,355 crore in the quarter from Rs 8,290 crore in the same period a year ago, a company statement said. "Adani Power continues to demonstrate its leadership across domains by achieving ever higher standards of excellence, as evidenced by the financial results for the third quarter of FY 2023-24," Adani Power CEO S B Khyalia said in the statement, The company's strategically located power plants and optimal capacity allocation between PPAs (power purchase agreements) and merchant capacities, coupled with its strength in fuel management & logistics and excellence in power plant O&M, have allowed it to address growing power demand and generate robust profitability, he said. This has resulted ..