Page 6 - Earnings Growth

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 .

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

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

Castrol Q4 results: Net profit rises 25% to Rs 242 crore on healthy demand

Castrol India's profit after tax came in at 2.42 billion rupees ($29.2 million), up from 1.93 billion rupees a year ago, it said in an exchange filing

RITES Q3 results: Profit drops 13% to Rs 129 cr, income at Rs 699 cr

RITES Ltd on Thursday reported 12.5 per cent drop in consolidated profit at Rs 128.78 crore for the quarter ended December 31, 2023. The company had posted a profit of Rs 147.18 crore for the year-ago period, RITES said in a filing to BSE. Income dropped to Rs 699.85 crore from Rs 703.38 crore in the year-ago period, the filing said. The sequential progress is in line with the direction that we had strategised in the beginning of the FY, in having received an export order after a long gap, sustained growth in our project consultancy revenue and steady growth in our EBITDA," RITES Ltd Chairman and Managing Director Rahul Mithal said. RITES Ltd, an enterprise under Ministry of Railways, is a multidisciplinary engineering and consultancy organization, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

V-Guard Q3 results: Profit rises 48% to Rs 58.24 crore, beats estimates

Consolidated net profit rose 48% to 582.4 million rupees ($7 million) in the quarter ended Dec. 31 from a year earlier. Analysts, on average, had expected a profit of 555.1 million rupees

IRB Infra Q3 results: Net profit rises by 32.49% to Rs 187.42 crore

IRB Infrastructure Developers Ltd on Wednesday reported a 32.49 per cent rise in its consolidated net profit to Rs 187.42 crore for the quarter ended December 2023. The company had clocked a net profit of Rs 141.35 crore during the year-ago quarter, IRB Infrastructure Developers said in a BSE filing. Its total income during October-December 2023 rose to Rs 2,077 crore from Rs 1,570 crore a year ago. The firm's expenses increased to Rs 1,783 crore from Rs 1,351 crore. The company, in a statement, said its private InvIT associate was awarded TOT-12 and TOT-13 projects in Madhya Pradesh and Rajasthan.

JSPL Q3 results: Profit jumps to Rs 1,923 cr, income down at Rs 11,736 cr

Steel maker Jindal Steel and Power Ltd (JSPL) on Wednesday posted close to a four-fold jump in consolidated profit to Rs 1,923 crore in the December quarter, aided by reduced expenses. It had clocked a "total profit" of Rs 518.27 crore in the year-ago period, the company said in an exchange filing. The company's total income fell to Rs 11,736.40 crore from Rs 12,469.50 crore in the year-ago quarter. JSPL trimmed expenses to Rs 9,809.57 crore from Rs 11,028.27 crore in the October-December period of the last fiscal. In a statement, JSPL Chairman Naveen Jindal said, "We achieved several important milestones during the quarter, which includes commissioning of the Utkal C thermal coal mines, state-of-the-art hot strip mill and International EPD certifications for Hot Rolled plates/coils and structural steel." "This demonstrates both our commitment and capability to execute the capex plan which will surely make us one of the most cost efficient and eco-friendly steel companies in India

H&M's top leader steps down in surprise move after disappointing earnings

H&M's top executive unexpectedly stepped down on Wednesday and the company's stock plunged as the fashion giant reported a drop in sales over the holiday shopping season. Helena Helmersson resigned after four years as CEO and 26 years at the company, saying she was proud of the work done over the past few years, including navigating the COVID-19 pandemic, but that it has been very demanding at times for me personally. She was replaced by Daniel Ervr, who was in charge of the H&M brand and has worked for the Swedish clothing retailer for 18 years. "Our focus will be on offering our customers the best combination of fashion, quality, price and sustainability in an inspiring and attractive shopping environment, Ervr said in a statement. H&M shares fell as much as 11 per cent after the announcement and news that its latest earnings missed analyst expectations. For the last three months of 2023, operating profit margin fell to 7.2 per cent from 7.8 per cent in the previous ...

Shree Cement Q3 resuls: Net profit rises two-fold to Rs 701.85 crore

Bangur family-promoted Shree Cement Ltd on Wednesday reported an over two-fold jump in its consolidated net profit to Rs 701.85 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 281.83 crore in the October-December period a year ago, according to a regulatory filing. Its revenue from operations grew 21.5 per cent to Rs 5,223.18 crore during the quarter under review. It was at Rs 4,299.26 crore in the corresponding period of the preceding fiscal. In the December quarter, it had a "strong & all-round performance led by improved realisation & cost reduction amidst robust demand growth," the company said in a quarterly earnings statement. The total sale volume of Shree Cement Ltd (SCL) increased Year-on-Year (YoY) by 11 per cent from 8.03 million tonnes to 8.89 million tonnes. Its capacity utilisation improved from 72 per cent to 77 per cent on YoY basis. Total expenses of SCL grew 9.12 per cent to Rs 4,458.01 crore in the December ...

Motherson Sumi Wiring India Q3 results: PAT grows 58% to Rs 167.86 cr

Auto components maker Motherson Sumi Wiring India Ltd on Wednesday reported a 58.12 per cent jump in profit after tax at Rs 167.86 crore in the third quarter ended December 31, 2023, riding on robust sales. The company had posted a profit after tax of Rs 106.16 crore in the October-December quarter last fiscal, Motherson Sumi Wiring India said in a regulatory filing. Total revenue from operations during the period under review stood at Rs 2,117.28 crore as against Rs 1,686.8 crore in the year-ago period, it added. "These strong quarterly numbers are the result of customer trust and our operational efficiencies," Motherson Sumi Wiring India Chairman Vivek Chaand Sehgal said. Further, he said, "We remain focused on delivering high-quality products and solutions to our customers and supporting them in their plans. We will continue to invest in capacities to meet the future demand." Motherson Sumi Wiring India said its new-age innovative capabilities are in place, serving all powertra

NIIT Learning Systems Q3 results: Net profit rises 23% to Rs 57 crore

NIIT Learning Systems on Wednesday posted a 23.27 per cent rise in its consolidated profit after tax at Rs 56.7 crore in the third quarter ended December 2023. The company had posted a PAT (profit after tax) of Rs 46 crore in the same period a year ago, NIIT Learning Systems said in a regulatory filing. The company's revenue from operations increased by 7.7 per cent to Rs 391.32 crore in the December 2023 quarter from Rs 363.29 crore in the corresponding quarter a year ago. "Business saw an uptick in sequential growth on the back of continuing addition of new customers and 100 per cent renewals despite compression of spends. We are making a strong commitment to investing in AI for improving effectiveness of learning interventions and are getting positive response from our customers," NIIT Learning Systems Limited (NLSL) Executive Director and CEO Sapnesh Lalla said. NIIT MTS added two new MTS (Managed Training Services) customers during the third quarter of FY'24. At the end of the

Dabur Q3 results: Profit rises 6.2% to Rs 506 crore, revenue up 7%

Homegrown FMCG major Dabur India Ltd on Wednesday reported an increase of 6.24 per cent in consolidated net profit at Rs 506.44 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 476.65 crore in the October-December quarter a year ago, Dabur India said in a regulatory filing. Its revenue from operations was up 7 per cent at Rs 3,255.06 crore during the quarter under review. It was at Rs 3,043.17 crore in the corresponding quarter of the previous fiscal. This was "driven by steady performance of both the Home & Personal care and Food & Beverages business," said an earning statement from the company which owns brands such as Dabur Amla, Dabur Vatika, and juice brand Real. Total expenses of Dabur India in the December quarter were up 7.82 per cent to Rs 2,720.62 crore. Dabur India's total income was at Rs 3,382.43 crore, up 7.58 per cent in Q3 FY23. Share of Dabur India was trading at Rs 543.50 on BSE, up 1.43 per cent from the previous ...

KPIT Technologies Q3 results: Net profit jumps 50% to Rs 157 crore

KPIT Technologies on Tuesday reported a 50 per cent rise in net profit at Rs 156.75 crore in the December quarter of this fiscal, helped by a surge in topline and widening of profit margins. The Pune-headquartered company, focused on the automotive sector, had recorded a profit after tax of Rs 104.05 crore in the year-ago period and Rs 141.4 crore in the preceding September quarter, KPIT Technologies said in a regulatory filing. Its revenues grew to Rs 1,256.96 crore from the year-ago period's Rs 917.11 crore, and Rs 1,199 crore in the quarter-ago period. The operating profit margin widened to 20.6 per cent from the year-ago period's 18.5 per cent, which helped in the growth of the overall profits. Co-founder, chief executive and managing director Kishor Patil said the company is on target to achieve the guidance of the revenues growing at 37 per cent in the fiscal on a constant currency basis and will do better than the 20 per cent operating profit growth guidance. He said the de

SIS Ltd Q3 results: Profit after tax increases by 16.5% to Rs 79 crore

SIS Ltd on Tuesday reported a 16.5 per cent increase in its profit after tax to Rs 79 crore for the third quarter ended December 2023. The company -- operating in facility management, security and cash logistics -- had posted adjusted profit after tax (PAT) of Rs 68 crore in the corresponding quarter of the previous fiscal. Adjusted PAT is profit adjusted for the benefits of Section 80JJAA of the Income Tax Act, SIS Ltd said in a statement. Section 80JJAA of the Income Tax Act deals with deductions with respect to the employment of new workmen. SIS, a USD 1.5 billion Indian multinational and essential services player with over 2,85,000 employees, reported a revenue growth of 6 per cent at Rs 3,073 crore compared to Rs 2,904 crore a year ago. The cash logistics segment continues to post strong revenue growth with a 13.7 per cent rise over Q3 FY23, driven by new wins in cash in transit (CIT) business. The company, in a regulatory filing, said the joint venture partners in SIS Cash

KEC International Q3 results: Profit up at Rs 97 cr, income at Rs 5,032 cr

Engineering, procurement and construction company KEC International on Tuesday posted multi-fold jump in its consolidated net profit at Rs 96.87 crore in the quarter ended December 2023, aided by higher income. It had clocked a net profit of Rs 17.60 crore during the October-December quarter of the preceding fiscal, the company said in an exchange filing. The company's total income rose to Rs 5,032.70 crore from Rs 4,376.34 crore in the year-ago quarter. Expenses stood at Rs 4,911.98 crore as against Rs 4,364.91 crore in the third quarter of last financial year. KEC International, a global infrastructure engineering, procurement and construction (EPC) major, has presence in sectors like power transmission and distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.

Microsoft, Alphabet stocks under pressure to show AI earnings boost

Microsoft Corp. and Alphabet Inc., two of the biggest players in AI-related software, will report after the market close

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

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