Page 3 - Profit Margins

Banks likely to report healthy profits in Q2 on high credit growth

Sequentially rising fund cost put pressure on margins

Hyundai Motor India net profit jumps 62.3% to Rs 4,709.25 cr in FY23

Hyundai Motor India Ltd posted a 62.3 per cent jump in consolidated net profit to Rs 4,709.25 crore in the fiscal ended March 31, 2023 with the company breaching the Rs 60,000 crore revenue mark in the fiscal, according to financial data accessed by business intelligence platform Tofler. The company, which is the second largest passenger vehicles manufacturer in India, had posted a consolidated net profit of Rs 2,901.59 crore in 2021-22. Revenue from operations of the company increased to Rs 60,307.58 crore in FY23 as against Rs 47,378.43 crore in FY22. The company's total production in FY22-23 was at 7.27 lakh units over 6.06 lakh units in the previous year, an increase of 20 per cent. In terms of sales, Hyundai Motor India Ltd (HMIL) which sells popular SUVs such as Creta and Venue along with Alcazar, Tucson, sedans Verna and Aura, and hatchback Grand i10 NIOS, posted its highest ever sales in FY23. Domestic sales in FY23 were at 5.67 lakh units as compared with 4.81 lakh units

NSE makes more money than 98% of companies listed on it, shows data

Low competition has led to rise in profits as markets surge

Healthy loan book growth likely to drive profitability of banks in FY24

Analysts at the agency maintained a positive outlook on the banking sector amid expectation that credit growth in the banking sector in the financial year 2023-24

Porter expects biz to grow by 60%, reach operational profit by Dec 2024

Logistics services startup Porter expects its business to grow by 60 per cent to reach about Rs 3,000 crore in revenue in the current financial year on account of expansion in the category, a top company official said. The Tiger Global and Lightrock ventures-backed startup expects to become operationally profitable by December 2024, Porter Co-Founder and COO Uttam Digga told PTI. "We continue to grow at 60-70 per cent year-on-year and I think that is going to continue for the coming one or two years more. This fiscal we expect. This year Porter is hoping to have a 60 per cent growth. The company will be close to making a Rs 3,000 crore revenue," Digga said. Porter at present provides instant delivery of up to 20 kg on two-wheelers, house shifting, mini trucks, three-wheelers etc for delivery of goods and it has recently forayed into courier service. The company currently operates in about 19 cities. "There are two levers for us to grow the business. One is category expansion. This

Surya Roshni profit increases two-fold to Rs 59 crore in June quarter

Lighting products and pipe maker Surya Roshni on Friday reported a two-fold increase in consolidated net profit to Rs 59.13 crore for the June quarter driven by reduced finance costs. It had posted a consolidated net profit of Rs 22.24 crore in the year-ago period, the company said in a regulatory filing. Revenue from operations was up 2 per cent to Rs 1,875.27 crore in the first quarter of the current fiscal as against Rs 1,839.89 crore last year. "Profit after tax stood at Rs 59 crore, reporting a growth of 166 per cent, on account of reduced finance cost," said an earning statement from the company. Total expenses of Surya Roshni were Rs 1,795.91 crore, up 11.46 per cent in the first quarter of 2023-24. Its total income rose 2 per cent to Rs 1,877 crore. The company's revenue from steel pipe and strips was marginally down to Rs 1,502.80 crore from Rs 1,504.44 crore in the corresponding quarter last year. "The revenue remained flattish due to lower steel prices. However, raw ..

JSPL net profit declines 13% to Rs 1,692 crore in Q1 due to high expenses

Private steel player Jindal Steel and Power Ltd (JSPL) on Friday posted a 13 per cent decline in consolidated net profit to Rs 1,692 crore for the June quarter due to higher expenses. It had clocked a net profit of Rs 1,990 crore in the April-June period a year ago, the company said in a regulatory filing. The company's total income was at Rs 12,643 crore in the first quarter of the current fiscal compared to Rs 13,069 crore in the year-ago period. Its total expenses rose to Rs 10,876 crore from Rs 10,566 crore. "We have achieved a significant milestone of successfully commissioning our state-of-the-art pellet plant at Angul (Odisha). "We have also signed mining lease for two thermal coal mines -- Gare Palma IV/6 and Utkal C -- which will lead to consistent availability of coal for our thermal coal requirements in DRI (Directly Reduced Iron) kilns, coal gasification and power plants at lower costs," JSPL Managing Director Bimlendra Jha said in a statement. During the quarter, the

Kalpataru Projects International profit rises over 28% to Rs 113 cr in Q1

Kalpataru Projects International on Friday said it posted over 28 per cent rise in consolidated net profit at Rs 113 crore in the June quarter mainly on the back of higher revenues. The company had reported a consolidated net profit of Rs 88 crore in the year-ago quarter, a BSE filing showed. Total income of the company rose to Rs 4,259 crore in the first quarter of the current fiscal from Rs 3,691 crore a year ago. The board also approved the proposal for issuing secured/unsecured redeemable non-convertible debentures of up to Rs 300 crore by the company in one or more tranches. "We have delivered another quarter of strong performance with notable growth in revenue, profitability and order book. We continue to deliver resilient and competitive performance while improving our consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) margin by 40 basis points to reach nine per cent for Q1 (June quarter)," Manish Mohnot, managing director and chief executiv

Sanofi India Q2 net profit up 2.5% at Rs 123 cr, revenue at Rs 706 cr

Drug firm Sanofi India on Thursday said its net profit increased by 2.5 per cent to Rs 123 crore for the second quarter ended on June 30, 2023. The company reported a net profit of Rs 120 crore in the April-June quarter of last year. Revenue from operations rose to Rs 706 crore in the period under review from Rs 699 crore in the same period last year, Sanofi India said in a regulatory filing. The company follows a January-December financial year. "The company has delivered a strong second quarter performance despite the National List of Essential Medicines (NLEM) impact," Sanofi India Managing Director Rodolfo Hrosz said. The company will continue to focus on driving further improvement in operating efficiencies while expanding the availability of its established and innovative products in India, he added.

Insecticides India Q1FY24 profit falls 24% on higher expenses

Insecticides (India) Ltd on Thursday posted a 24 per cent drop in its consolidated net profit to Rs 29.14 crore during the first quarter of 2023-24 on higher expenses. Net profit stood at Rs 38.30 crore in the same quarter of the previous financial year, according to a regulatory filing. Total consolidated income increased to Rs 639.95 crore during the April-June quarter of the 2023-24 fiscal from Rs 560.68 crore in the year-ago period. However, the company's expenses were higher at Rs 604.35 crore as against Rs 510.26 crore in the said period. The company said it incorporated a wholly-owned subsidiary IIL Overseas DMCC (Dubai) on May 1 this year to carry out the business of trading of insecticides, agricultural and veterinary products. Shares of the company settled lower by 0.71 per cent at Rs 463.45 apiece on BSE on Thursday.

PepsiCo India reports multi-fold rise of Rs 268 cr in FY23 profit

Food and beverages major Pepsico India Holdings Pvt Ltd reported a multi-fold rise in consolidated profit at Rs 267.80 crore in 2022-23 fiscal, according to financial data accessed by business intelligence platform Tofler. The company's revenue from sale of products and services was up 28.47 per cent to Rs 8,127.07 crore during the year, it said. The company -- which is not a listed entity -- had reported a profit of Rs 41.63 crore and sales worth Rs 6,325.70 crore in 2021-22. Pepsico India Holdings Pvt Ltd's other income increased 20 per cent to Rs 98.83 crore in 2022-23 (FY23). The total revenue of the company, which owns popular brands such as Pepsi, Lay's, Kurkure, and Tropicana, rose 28.35 per cent to Rs 8,302.02 crore in FY23. PepsiCo entered India in 1989 and has grown to become one of the largest food and beverage businesses in the country. Its revenue from the "beverages" segment was up 86.19 per cent to Rs 1,404.46 crore in FY23 while the same from the "snacks" segment

Axiscades back in black with consolidated net profit of Rs 5.70 cr in Q1

Engineering solutions provider Axiscades Technologies has returned to black posting a consolidated net profit of Rs 5.70 crore during the quarter ended June 30, backed by higher income. It had clocked a net loss of Rs 31.69 crore during the April-June period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Friday. The company's total income surged to Rs 216.33 crore from Rs 186.92 crore in the year-ago quarter. In a separate statement, David Bradley, Chairman of Axiscades, said: "We have started fiscal year 2024 on firm footing, recording a revenue growth of 17 per cent and EBITDA growth by 45 per cent year on year. The recent acquisition of add solution GmbH will give us access to global OEMs (original equipment manufacturers) and help us expand our product offerings to the automotive industry." These acquisitions have been accretive to company's earnings and have helped to achieve its long-term growth goals, he added. Bengaluru based Axiscades is a lea

Kilburn Engineering reports 145% surge in PAT to Rs 7.09 crore in Q1

Expressing optimism for the remaining quarters, the company cited its current order book and pending enquiries of over Rs 700 crore at various stages of quotation

Star Health Insurance net profit increases 35% to Rs 288 cr in Q1

Star Health and Allied Insurance on Friday reported a 35 per cent increase in net profit to Rs 288 crore for the June 2023 quarter. The standalone health insurer posted a net profit of Rs 213 crore during the April-June period of 2022-23. The company's total income during the June quarter rose to Rs 3,190 crore against Rs 2,809 crore in the year-ago period, Start Health said in a regulatory filing. Gross written premium increased to Rs 2,949 crore in Q1 FY24 compared to Rs 2,464 crore in the same period a year ago.

SBI Life Insurance Q1 results: Net profit rises 45% to Rs 380 crore

New Business Premium (NBP) has grown by 11% to Rs 6210 crore in Q1 FY 24 aided by growth in single premium business by 18%

HDFC Life Q1 profit rises 15% to Rs 415 crore; total premium up 16%

HDFC Life on Friday reported 15 per cent increase in net profit at Rs 415 crore for first quarter of the current fiscal year. The company had reported Rs 361 crore profit in April-June 2022-23. The total premium rose 16 per cent to Rs 11,673 crore during the quarter as compared with Rs 10,050 crore in the year-ago period, HDFC Life said in a statement. During the latest quarter, the first-year premium collection rose 19 per cent to Rs 5,869 crore from Rs 4,949 crore in the same period a year ago. The company's solvency stands at 200 per cent as compared to 178 per cent in the same quarter a year ago. The board has recommended a dividend of Rs 1.90 per share aggregating to a payout of Rs 408 crore subject to approval by the shareholders. Indian Embedded Value of the company witnessed 29 per cent increase to Rs 41,843 crore at the end June 2023.

United Spirits reports net profit at Rs 477 crore for first quarter

United Spirits on Thursday reported a consolidated net profit of Rs 477 crore for the first quarter ended June 2023. The company had posted a net profit of Rs 261 crore in the April-June quarter of the last fiscal. Total income rose to Rs 5,830 crore in the first quarter. It stood at Rs 7,157 crore in the year-ago period. In a regulatory filing, United Spirits said the results of the quarter were not comparable to the June quarter of last fiscal as the company completed a slump sale of the entire business undertaking associated with 32 brands to Inbrew Beverages on September 30, 2022. United Spirits CEO & Managing Director Hina Nagarajan said the company has commenced fiscal 2024 with a robust first quarter performance. "While inflationary pressures remain, our strategy to reshape the portfolio combined with revenue growth management and focus on everyday efficiency is driving sustainable growth across the Prestige & Above segment," she added. Royal Challengers Sports, the ...

Marsh McLennan beats Q2 profit estimates on interest income boost

Ten successive rate hikes by the U.S. Federal Reserve have helped companies net higher interest income on funds they hold on behalf of clients

Nokia Q2 profits fall as clients in North America shun investments

Wireless and fixed-network equipment maker Nokia on Thursday reported a fall in second quarter profit as clients especially in North America postponed investments due to a slowdown in economic growth and rising financing costs. The Espoo, Finland-based company reported net profit of 414 million euros (USD 464 million) for the April-June period, down 29 per cent from 585 million euros a year earlier. Net income attributable to shareholders was 415 million euros, down from 582 million euros the previous year. Nokia's sales were down 3 per cent at 5.7 billion euros. Among other network products, Nokia is one of the world's main suppliers of 5G, the latest generation of broadband technology, along with Sweden's Ericsson, China's Huawei and South Korea's Samsung. Earlier in the year I highlighted that we were starting to see signs of macroeconomic challenges along with inventory digestion impacting customer spending and this has intensified through the second quarter, CEO Pekka Lundmark

DB Corp reports 2.5-fold rise in net profit to Rs 78.75 cr in Q1FY24

Media firm DB Corp Ltd on Thursday reported over two-and-half-fold jump in consolidated net profit at Rs 78.75 crore in the first quarter ended June 30, 2023 riding on robust advertising revenue growth. The company had posted a consolidated net profit of Rs 31 crore in the same period last fiscal, DB Corp said in a regulatory filing. Consolidated total income during the period under review stood at Rs 573.6 crore, as compared to Rs 499.38 crore in the corresponding quarter last fiscal, it added. Total expenses in the first quarter were at Rs 469.97 crore, as against Rs 457.3 crore in the same period a year ago. The company, which publishes newspapers including Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, said the resurgence in print media continues to dominate all forms of media as the most trusted source of news, and this resurgence has resulted in a strong fillip as advertisers look for the best avenue for their marketing spends. "Print advertisement ...