Page 6 - Profit Margins

LIC Housing Finance's PAT surges over 500% to Rs 925 cr in Q1FY23

LIC Housing Finance Ltd's net profit rose sharply by 503 per cent year-on-year to Rs 925.48 crore on back of uptick in net interest income, as against Rs 153.44 crore in the same quarter last year.

Blue Star Q1 net profit soars 470% to Rs 74 cr; revenue rises 87%

Air conditioning and commercial refrigeration maker Blue Star Ltd on Thursday saw its consolidated net profit jump to Rs 74.35 crore in the June quarter on higher demand. The company had posted a consolidated net profit of Rs 12.71 crore in the April-June quarter a year ago, Blue Star said in a regulatory filing. Its revenue from operations was up 87.28 per cent at Rs 1,970.32 crore in comparison to a lower base of the pandemic-impacted corresponding quarter. In the year-ago period, Blue Star's revenue from operations was at Rs 1,052.04 crore. "With business and economic activities at 100 per cent normalcy in the first quarter of FY23, the growth momentum witnessed in the fourth quarter of FY22 continued in the first quarter of FY23. After two consecutive summers disrupted by the pandemic, this year witnessed a normal summer without any restrictions," said an earning statement from Blue Star. Consequently, demand for all Blue Star's products and services witnessed an uptick compar

Balrampur Chini Mills Q1 profit down 84% to Rs 12 cr; total income falls 4%

Balrampur Chini Mills Ltd on Thursday reported 84 per cent fall in consolidated net profit at Rs 12.38 crore for the quarter ended June. Its net profit stood at Rs 76.92 crore in the year-ago period. Total income fell to Rs 1,094.58 crore in the quarter from Rs 1,145.68 crore in the corresponding period of the previous year, according to a regulatory filing. Total expenses rose to Rs 1,077.72 crore during April-June 2022-23 from Rs 1,048.83 crore in the year-ago period. Balrampur Chini Mills is one of the leading sugar manufacturers in the country.

MRPL net profit zooms to Rs 2,707 cr in Q1 on bumper refining margins

Mangalore Refinery and Petrochemicals Ltd (MRPL) net profit zoomed to Rs 2,707 crore in the first quarter of the current fiscal on the back of record refining margins.

Mastercard Q2 profit jumps to $2.3 bn on rebound in cross-border spending

Mastercard Inc sailed past market estimates for quarterly profit on Thursday as a surge in cross-border spending sparked by this year's travel boom more than offset higher costs.

M&M Finance posts net profit of Rs 240 cr in Q1; total income rises 14%

Mahindra & Mahindra Financial Services on Thursday reported a consolidated net profit of Rs 240 crore for June quarter aided by fall in expenses and higher income from business operations. The company had posted a net loss of Rs 1,573.40 crore in April-June 2021-22. The loss in the year-ago period was due to the impact of second wave of COVID-19, Mahindra & Mahindra Financial Services (Mahindra Finance) said. The net profit in the period was 62 per cent lower when compared to the previous March quarter. Total income during April-June 2022-23 increased to Rs 2,914 crore from Rs 2,567 crore earlier, Mahindra Finance said in a regulatory filing. Interest income was up at Rs 2,766 crore as against Rs 2,465 crore. Besides, total expenses for the Mahindra group's non-banking financial arm fell 45 per cent to Rs 2,607 crore as against Rs 4,725 crore. Though the expenses were higher from Rs 2,035 crore in March 2022 quarter. The June quarter earnings include results from as many as .

Bajaj Finance shares climb over 2% after co reports 159% jump in Q1 profit

Shares of Bajaj Finance on Wednesday went up by over 2 per cent after the company reported its highest-ever consolidated quarterly net profit at Rs 2,596 crore for the June quarter.

Spotify's quarterly revenue, user growth beats expectations in Q2

Premium subscribers, which account for most of the company's revenue, rose to 188 million, beating analysts' expectations of 187 million

Axis Bank profit nearly doubles to Rs 4,125 crore in April-June quarter

Axis Bank on Monday said its net profit nearly doubled to Rs 4,125 crore in the April-June quarter of FY23, helped by decline in bad loans. The private sector bank had registered a net profit of Rs 2,160 crore in the corresponding quarter of the previous fiscal. Total income of the bank rose to Rs 21,727.61 crore during April-June quarter of the current fiscal, compared to Rs 19,361.92 crore in the year-ago period, Axis Bank said in a regulatory filing. The lender's asset quality improved as gross Non-Performing Assets (NPAs) declined to 2.76 per cent as on June 30 this year, from 3.85 per cent a year ago. Net NPAs or bad loans slipped to 0.64 per cent of net advances furnished by June-end from 1.20 per cent a year earlier. As a result, provisions other than tax and contingencies declined manifold to Rs 359.36 crore as against Rs 3,302 crore in the same period a year ago. On a consolidated basis, Axis Bank posted a 84 per cent jump in net profit to Rs 4,389.22 crore for the repo

Central Bank of India Q1 profit rises 14.2% to Rs 234 cr; bad loans drop

Central Bank of India on Monday reported a 14.2 per cent rise in standalone net profit at Rs 234.78 crore in first quarter ended June this fiscal on fall in bad loans, even as its expenses increased. The State-owned lender had posted a net profit of Rs 205.58 crore in the same quarter a year ago. However, compared sequentially, the profit was down by 24.3 per cent from Rs 310.31 crore in the quarter ended March 2022. Total income during April-June period of 2022-23 increased slightly at Rs 6,357.48 crore, as against Rs 6,299.63 crore in the same quarter of 2021-22, Central Bank of India said in a regulatory filing. Total income was down from Rs 6,419.58 crore in the March 2022 quarter. Bank's bad loans proportions remained high, but fell to 14.90 per cent of the gross advances by the end of June 30, 2022, as compared to 15.92 per cent in the year-ago period. In value-terms, the gross NPAs were worth Rs 29,001.63 crore, up from Rs 27,891.70 crore by June 2021. Net NPAs or bad loa

Lower margins weigh on Havells' Q1 performance as input, staff costs surge

Even as the trend is seen continuing in Q2 before reversing in the second half, analysts are positive on the company

Tata Communications: Ongoing supply-side headwinds to hurt near term

Original equipment manufacturer (OEM) lead time issues, which had worsened during the April-June quarter, rose four times as compared to the earlier 12-16 weeks.

Happiest Minds profit rises 58% to Rs 56.34 crore in June quarter

IT company Happiest Minds on Friday posted a 57.7 per cent increase in consolidated profit after tax at Rs 56.34 crore in the June quarter. The company had reported a profit of Rs 35.73 crore in the year-ago period. The consolidated revenues from contracts with customers of the company grew 34.5 per cent to Rs 328.92 crore during the quarter under review. The same stood at Rs 244.61 crore in the year-ago period. "We have started fiscal year 2023 showing industry leading performance. Our 10-year vision statement is to be a billion-dollar company by 2031. "In line with this goal, based on the growth we are experiencing and continued demand for digital services, we are increasing our revenue guidance for FY23 to 25 per cent while targeting to grow at a CAGR (Compound Annual Growth Rate) of 25 per cent over the next 5 years," Happiest Minds Executive Chairman Ashok Soota said in a statement.

JSW Energy net profit surges 179% to Rs 560 crore in June quarter

JSW Energy on Thursday said its net profit jumped 179 per cent to Rs 560 crore in the June quarter, mainly on the back of higher revenues. "Profit After Tax (PAT) stood at Rs 560 crore, which was 179 per cent higher YoY (year on year) compared to a PAT of Rs 201 crore in the corresponding period of previous year (April-June 2021)," a company statement said. During the quarter, total revenue increased by 68 per cent YoY to Rs 3,115 crore from Rs 1,860 crore in first quarter of FY22. The increase is primarily attributable to higher contribution from short-term sales, solar capacity addition at Vijayanagar and 45MW uprating at Karcham Wangtoo, it stated. Underlying finance cost during the quarter decreased by 2.5 per cent YoY to Rs 193 crore on the back of 18 bps (basis points) reduction in the weighted average cost of debt partially offset by increase in gross debt, it explained. The consolidated net worth and consolidated net debt as on June 30, 2022 were Rs 16,638 crore and Rs 7,7

Hindustan Zinc net profit rises 56% in Q1 to Rs 3,092 cr; revenue jumps 45%

Hindustan Zinc Ltd (HZL) on Thursday reported a 55.9 per cent rise in consolidated net profit at Rs 3,092 in the June quarter, mainly on the back of higher metal prices. The company had posted consolidated net profit of Rs 1,983 crore in the first quarter of the previous fiscal, it said in a filing to BSE. The consolidated revenue from operations in the April-June preriod increased by 44.8 per cent to Rs 9,236 crore, over Rs 6,378 crore in the year-ago period, the filing said. "Net profit for the quarter was at Rs 3,092 crore, up 55.9 per cent Y-o-Y and 5.6 per cent sequentially," the company said in a statement. HZL's board has given the approval for forming a wholly-owned arm to set up a five lakh tonnes per annum fertiliser plant. "Hindustan Zinc delivered best first-quarter production for mined metal, refined metal and silver. With the exit run-rate for both mined and refined metal crossing over one million tonnes, we are fully geared to deliver another stellar performance th

CSB Bank profit nearly doubles to Rs 115 cr in Q1; asset quality improves

Private lender CSB Bank on Thursday reported 88 per cent growth in its net profit at Rs 115 crore in the first quarter of FY23 on the back of decline in bad loans.

Hyundai sells 1.88 mn vehicles in first six months, Q2 profit jumps 56%

Hyundai Motor said on Thursday that its second-quarter net profit jumped 56 per cent from a year earlier on improved product mix and a weak won

ICICI Lombard's Q1 net up 80% to Rs 349 cr on strong premium income

The gross direct premium income by the insurer during the period was Rs 5,370 crore, up 28.2 per cent from the year-ago period

HDFC Bank Q1FY23 results: Tracking firm's performance over last 4 quarters

In Q4FY22, the bank recorded a 22.8 per cent rise in its net profit year-on-year.

Morgan Stanley misses profit estimates in Q2 as dealmaking stalls

Morgan Stanley missed profit estimates for the first time in nine quarters on Thursday, as its investment banking unit struggled to cope with a slump in global dealmaking.