Page 5 - Profit Margins

Allcargo Logistics net profit declines 78% to Rs 51.90 cr in March quarter

Allcargo Logistics' consolidated net profit declined 78 per cent to Rs 51.90 crore in the March 2023 quarter, according to a late-night regulatory filing on Tuesday. The company had posted a consolidated profit of Rs 240.55 crore in Q4 FY22, the filing said. Allcargo, in a statement, announced the appointment of logistics industry veteran Adarsh Hegde as its Managing Director. The consolidated net profit in the January-March quarter of the previous fiscal stands at Rs 51.90 crore, taking into consideration profit from continuing and discontinuing operations, as per the filing. The total income from continued operations slipped 37.49 per cent to Rs 3,415.40 crore in the quarter under review against Rs 5,464.23 crore clocked in the March 2022 quarter, it added. For the full fiscal 2022-23, its consolidated profit (from continuing and discontinuing operations) fell 48 per cent to Rs 653.21 crore from Rs 964.59 crore in FY22. The total income (consolidated) from continuing operations

Gateway Distriparks profit falls 19% to Rs 69 cr in Jan-March 2023

Inter-modal logistics operator Gateway Distriparks Ltd (GDL) on Friday reported a 19.47 per cent decline in its profit after tax at Rs 68.62 crore in quarter ended March 2023. The company had recorded a PAT (profit after tax) of Rs 85.21 crore in the same quarter of FY22, GDL said in a statement. The total revenue during Q4FY23 was recorded at Rs 390.84 crore as compared to Rs 377.04 crore top-line clocked in the fourth quarter of the fiscal year ended March 2022, it said. The rail revenue grew 5.90 per cent to Rs 309.86 crore during the March quarter last fiscal as against Rs 292.61 crore in the same period of FY22. CFS (container freight station) revenue, however, dropped 4.08 per cent to Rs 80.98 crore in the reporting period when compared to Rs 84.43 crore achieved in the March 2022 quarter, it said. GDL also said that rail volumes during the quarter under review were up 3.46 per cent at 93,509 TEUs as against 90,385 TEUs in Q4 of financial year 2021-22, while CFS throughput .

Triveni Turbine net profit grows 68% to Rs 55.6 cr in March quarter

Triveni Turbine Ltd (TTL) on Tuesday posted a 68.5 per cent jump in its consolidated net profit at Rs 55.6 crore during March 2023 quarter, boosted by higher revenues. It had clocked Rs 33.0 crore net profit during January-March quarter of preceding financial year 2021-22, TTL said in a statement. The company's revenues from operations also rose by 56.3 per cent to Rs 369.8 crore from Rs 236.6 crore in the year ago quarter. CMD Dhruv M Sawhney said: "Our company has delivered yet another record year in FY23, building upon the strong foundation of the previous year. In the year gone by, We achieved highest ever turnover at Rs 12.48 billion, with an impressive growth of 46 per cent over the previous financial year." On the order booking front, the company's performance has been the highest ever with total order booking of Rs 16.05 billion, he said. The contribution of exports in total turnover has increased to 45 per cent in FY23 from 30 per cent in FY22. The company is a leader in

Patel Engineering net profit grows to Rs 84.3 cr in March quarter

Patel Engineering on Monday posted a four-fold jump in its consolidated net profit at Rs 84.3 crore during the March 2023 quarter, boosted by higher revenues. It had clocked Rs 21.2 crore net profit during January-March quarter of preceding 2021-22 fiscal, the company said in a statement. The company's revenues from operations also surged to Rs 1,298.34 crore, from Rs 1,111.6 crore in the year ago quarter. Company's CMD Rupen Patel said: "This year has been exciting with new projects coming onboard and taking our order book to an all-time high beyond Rs 2,00,000 million. We have achieved improved revenue and profit figures showcasing the strength and resilience of our business in a competitive environment." Kavita Shirvaikar, Director & CFO, said, The company won several water tunnel and irrigation projects in Maharashtra, Karnataka, and Madhya Pradesh during the quarter. "We continue with our efforts to monetise non-core assets and have reduced debt by more than Rs 5,000 million

Religare Enterprises reports net profit at Rs 20 cr in March quarter

Religare Enterprises on Thursday posted Rs 20 crore profit on a standalone basis for the fourth quarter ended March 2023. The company had registered a net loss of Rs 7 crore in the January-March quarter of the preceding fiscal. The total income increased to Rs 41 crore against Rs 8 crore in the same quarter a year ago, Religare Enterprises said in a regulatory filing. Its total expenses swelled to Rs 21 crore against Rs 15 crore earlier, it added. On a consolidated basis, Religare Enterprises posted a loss of Rs 3,517 crore for the fourth quarter against a loss of Rs 588 crore a year ago. The company continues to be barred from declaring dividends as per an RBI letter issued in December 2019, it said. Last month, Religare Enterprises said it will acquire Indian Express Group's insurance web aggregator MyInsuranceClub in an all-cash deal. The company said in a statement that it has signed a share purchase agreement for the proposed acquisition of MyInsuranceClub from iGear Holdin

Ajmera Realty & Infra net profit rises 8% to 15 cr in March quarter

Ajmera Realty & Infra India Ltd on Thursday reported an 8 per cent increase in its consolidated net profit at Rs 15.11 crore for the quarter ended March 2023. Its net profit stood at Rs 14.01 crore in the year-ago period. Total income declined to Rs 117.80 crore during the January-March quarter of 2022-23 fiscal year from Rs 183.62 crore a year ago, Mumbai-based real estate developer said in a regulatory filing. For the full 2022-23, the net profit increased to Rs 71.50 crore from Rs 45.39 crore in the previous year. Total income fell to Rs 440.63 crore in the last fiscal from Rs 489.11 crore in the 2021-22 fiscal. On operational front, the company's sales bookings rose 95 per cent to Rs 842 crore last fiscal from Rs 431 crore in the previous year.

Canara Bank consolidated net profit jumps 74% to Rs 3,337 cr in March qtr

State-owned Canara Bank on Monday reported a 74 per cent jump in March quarter consolidated net profit to Rs 3,336.51 crore, helped by higher core income and lower provisions. The Bengaluru-based lender had reported a net profit of Rs 1,918.80 crore in the year-ago period. For FY23, its post tax profit grew to Rs 11,254.75 crore from Rs 6,124.83 crore in FY22. In the latest March quarter, the lender's core net interest income grew 23 per cent to Rs 8,617 crore. This was due to a 17 per cent growth in advances and a 0.14 per cent expansion in the net interest margin to 3.07 per cent. Its other income grew 7 per cent to Rs 4,776 crore but was also hit by a 72 per cent decline in the treasury income. Canara Bank's managing director and chief executive K Satyanarayana Raju said the bank will aim to grow its overall loan book in double-digit in FY24, and denied it being a moderation, saying the lender believes in over-delivering. Raju said the bank registered a corporate loan book ...

Q1 profits jump to $35.5 bn at Buffett's Berkshire ahead of annual meeting

Warren Buffett's company said its first-quarter profits soared along with the paper value of its investment portfolio giving the thousands of shareholders who will fill an arena Saturday to listen to the billionaire and several other top executives at the conglomerate answer questions for hours some good news to start the day. It's a once in a lifetime opportunity, said Chloe Lin, who travelled from Singapore to attend the meeting for the first time and learn from Buffett and his longtime investing partner Charlie Munger. Berkshire's shareholders meeting always attracts throngs of people who admire the two investors and want to hear whatever wisdom they have to offer about recent events and life lessons. And with both men in their 90s this year, some in the crowd feel the urgency to attend now while both men are still here. Charlie Munger is 99. I just wanted to see him in person. It's on my bucket list, Wu said. I have to attend while I can. Berkshire Hathaway said Saturday morni

DCB Bank's net profit increases 25% to Rs 142 crore in March quarter

Private sector lender DCB Bank on Friday posted a 25 per cent increase in its net profit to Rs 142 crore in the quarter ended March 2023. The Mumbai-based lender had posted a net profit of Rs 113 crore in the year-ago period. Total income during the January-March quarter of FY23 rose to Rs 608 crore from Rs 495 crore in the same period of FY22, the bank said in a statement. The Gross NPAs as of March 31, 2023, were 3.19 per cent. Net NPA was at 1.04 per cent as of March 31, 2023. Both Gross NPA and Net NPA declined sequentially as well as in comparison to last year, DCB Bank said. For the full 2022-23 fiscal, the bank's net profit jumped by 62 per cent to Rs 466 crore compared to Rs 288 crore in 2021-22.

Symphony Q4 net profit falls 75% to Rs 16 crore; revenue down 19.7%

Air cooler and appliances maker Symphony Ltd on Friday reported a decline of 75 per cent in its consolidated net profit at Rs 16 crore for the March quarter. The company had posted a net profit of Rs 64 crore in the January-March quarter a year ago, Symphony said in a BSE filing. Its revenue from operations was also down 19.79 per cent to Rs 308 crore during the quarter under review, as against Rs 384 crore in the year-ago period. Its total expenses in Q4FY23 were down 4.83 per cent to Rs 295 crore as against Rs 310 crore of the corresponding quarter a year ago. Its total revenue in the March quarter was down 20.5 per cent to Rs 318 crore. For the financial year ended March 2023, Symphony's net profit was down 4.13 per cent to Rs 116 crore against Rs 121 crore in FY22. However, its consolidated revenue from operations in FY23 increased 14.34 per cent to Rs 1,188 crore from Rs 1,039 crore a year ago. Meanwhile, in a separate filing, Symphony informed its board in a meeting held o

Fino Payments Bank's net profit jumps 25% to Rs 22.08 cr in March quarter

Fino Payments Bank on Tuesday reported a 25 per cent increase in its post-tax net profit for the March 2023 quarter at Rs 22.08 crore. The Navi Mumbai-headquartered company had posted a post-tax net profit of Rs 17.62 crore in the year-ago period. Its total income increased to Rs 323.43 crore, up from Rs 285.29 crore in the year-ago period, and Rs 314.10 crore in the preceding December quarter. Its operating expenses rose to Rs 287 crore from Rs 263 crore in the year-ago period, the payments bank said in a statement.

Adani Green Energy net profit up 4-fold to Rs 507 cr in March quarter

Adani Green Energy on Monday posted a four-fold rise in its consolidated net profit to Rs 507 crore in the March quarter compared to the year-ago period mainly on the back of higher revenues. The consolidated net profit of the company was Rs 121 crore in the quarter ended on March 31, 2022, a BSE filing stated. Total income of the company rose to Rs 2,988 crore in the quarter from Rs 1,587 crore in the same period a year ago. The consolidated net profit of the company also increased to Rs 973 crore in 2022-23 from Rs 489 crore in the previous financial year. Total income of the company rose to Rs 8,633 crore in the 2022-23 fiscal from Rs 5,548 crore the year ago. The company also announced that the designation of Vneet S. Jaain has been changed from Managing Director & Chief Executive Officer to Managing Director effective from May 11, 2023. The sale of energy has increased by 58 per cent YoY to 14,880 mn units in FY23 primarily backed by strong capacity addition, analytics

Himadri Speciality Chemical Q4 PAT grows over three-fold to Rs 77 cr

Himadri Speciality Chemical Limited (HSCL) on Saturday reported over three-fold jump in profit after tax to Rs 77 crore for the March 2023 quarter on account of higher revenue. It had posted Rs 21 crore profit after tax (PAT) for the same period in 2021-22, HSCL said in a statement. For the full 2022-23, the company's PAT rose to Rs 208 crore from Rs 65 crore in FY22, registering over three-fold growth. Its total income from revenues also increased to Rs 1,029 crore from Rs 834 crore in the year-ago quarter, the company said. In FY23, revenue surged to Rs 4,172 crore from Rs 2,798 crore in FY22. Anurag Choudhary, CMD of Himadri Speciality Chemical Ltd, said, "Strong focus on core businesses and commitment to provide value-added products, coupled with investment in R&D, innovation, and improved business model, have consistently led us to achieve sustainable results and grow our profitability". Kolkata-based Himadri Speciality Chemical Limited is into manufacturing and supply of ..

CSB Bank net profit rises 19% to Rs 156 crore as bad loans decline

Private sector lender CSB Bank on Friday reported 19 per cent rise in net profit at Rs 156 crore for March quarter 2022-23 as bad loans declined. The bank had earned a net profit of Rs 131 crore in the same quarter of previous year. During the quarter, the bank's total income increased to Rs 762.81 crore from Rs 583.17 crore a year ago, CSB Bank said in a regulatory filing. Interest income grew to Rs 636.49 crore during the period under review from Rs 519.56 crore in the corresponding quarter a year ago. Gross non-performing assets (NPAs) were reduced to 1.26 per cent of gross advances as of March 31, 2023, from 1.81 per cent by the end of March 2022. Net NPAs also came down to 0.35 per cent of the advances from 0.68 per cent at the end of 2022. The Kerala-based bank recorded a net profit of Rs 547 crore for the year ended March 2023 as against Rs 458 crore in the previous year, logging a 19 per cent increase. The bank continues with the policy to maintain accelerated provisioni

ACC net profit declines 41% to Rs 236 cr in January-March quarter

Cement maker ACC Ltd on Thursday reported a decline of 40.53 per cent in its consolidated net profit at Rs 235.66 crore for the quarter ended March 2023. The company had posted a profit of Rs 396.33 crore in the January-March quarter a year ago, said ACC, now a part of Adani Cement, in a BSE filing. Its total revenue from operations during the quarter under review was at Rs 4,790.91 crore, up 8.23 per cent, as against Rs 4,426.54 crore in the corresponding period a year ago. ACC's total expenses were at Rs 4,514.38 crore, up 14.10 per cent. Shares of ACC Ltd on Thursday settled at Rs 1,747.10 on the BSE, up 0.51 per cent from the previous close.

Glenmark Life Sciences profit surges 48% on API boost in March quarter

Revenue from Glenmark Life Sciences's API business, which accounts for about 90% of total revenue, grew 15.5% from last year

Hindustan Unilever's earnings margin shrinks after increased commodity cost

HUL shares fell about 2%, taking their total declines this year to nearly 4%

Indus Towers' net profit declines 23% to Rs 1,399 cr in March quarter

Telecom infrastructure company Indus Towers on Wednesday reported a 23 per cent drop in consolidated net profit of Rs 1,399 crore for the fourth quarter ended March 2023. The net profit was Rs 1,829 crore in the year-ago period. Seen on a full-year basis, the net profit tanked 68 per cent for FY23, with the company stating that the "financial performance reflects collection challenges from a major customer". Meanwhile, Indus Towers' revenue for the March quarter (Q4FY23) stood at Rs 6,753 crore, a decline of five per cent over Q4 FY22. Consolidated earnings before interest, taxes, depreciation, and amortisation or EBITDA was pegged at Rs 3,447 crore, down 15 per cent year-on-year and representing an operating margin of 51 per cent. "The financials of Q4 2021-22 included a one-time positive impact of Rs 547 crore on account of deferred recognition of revenue from past settlements. In 2022-23, the company adhered to prudent accounting practices and reflected the stress on its ...

Voltas Q4 profit slumps 21% on provisions over contract terminations

Voltas, which competes with Blue Star, made provisions of 2.44 billion rupees during the quarter due to the termination of some contracts in Dubai and Qatar last year

Wells Fargo reports beat on earnings, profit rise on higher rates

The firm had $13.3 billion in NII in the first three months of year, up 45% from a year earlier and more than the 42% jump analysts expected, Wells Fargo said