Page 68 - Q1 Results

Despite a mixed 1st quarter, cement sector's FY24 outlook looks concrete

However, as competition and fresh capacity is also rising, scale and ability to control costs will play a crucial role

AB InBev posts 30% H1 volume growth, expects to maintain growth in H2 2023

Brewer Anheuser-Busch InBev (AB InBev) has reported a 30 per cent increase in sales with gains in some markets in the first half of 2023 and expects the momentum to continue in the second half, its President India & Southeast Asia Kartikeya Sharma said. The company, which is a leading player in the premium and super premium beer segment with brands like Budweiser, Hoegaarden and Corona, has reported 200-300 basis points upside in growth in large markets such as Karnataka, Maharashtra, Uttar Pradesh, Haryana and West Bengal, he said. "The beer industry grew 20 per cent from January to June 2023... We grew ahead of the industry by almost 50 per cent. So our growth was closer to 30 per cent, said Sharma in a media roundtable here. However, there are some challenges from the urban market, which is witnessing some tapering off in the demand at urban centres but Sharma is confident in maintaining the growth rate. The challenge is for us to see how in H2 we are going to sustain and ...

Procter & Gamble Health profit dips 27% to Rs 30 cr in April-June quarter

Procter & Gamble Health on Thursday said its profit after tax declined by 27 per cent to Rs 30 crore in the quarter ended June 2023, hit by a higher material cost and one-time employee cost. The company, which follows the July-June financial year, had reported a profit after tax (PAT) of Rs 41 crore in the same quarter last year. Total income increased to Rs 307 crore in the April-June quarter from Rs 299 crore in the year-ago period, Procter & Gamble Health said in a statement. For the year ended June 30, 2023, the company reported a PAT of Rs 229 crore, up 19 per cent from Rs 192 crore in the previous fiscal. Total income rose to Rs 1,248 crore as compared with Rs 1,128 crore in the previous year. "We continued our efforts towards brand and category development and thus delivered a strong performance in the fiscal, marked by consistent growth across all our brands," Procter & Gamble Health MD Milind Thatte stated. The quarter, however, witnessed a category slowdown ...

Yatharth Hospital extends rally, surges 29% in a week on strong Q1 results

In Q1FY24, average revenue per operating bed (ARPOB) increased to Rs 28,140, compared to Rs 27,706 in Q4FY23 and Rs 26,457 in Q1FY23.

Linde India at new high, soars 16% in 2 days on winning LoA from Indian Oil

Thus far in the calendar year 2023, the stock price of Linde India has zoomed 70 per cent, as compared to 6.6 per cent rise in the S&P BSE Sensex.

India Post Payments Bank reports operational profit of Rs 20 cr in FY23

India Post Payments Bank on Tuesday reported its first-ever operational profit of Rs 20.16 crore for 2022-23. The bank saw a 66.12 per cent growth in overall revenue. IPPB saw a 17.36 per cent increase in operating costs during the fiscal, a statement said. "IPPB... generated an operational profit of Rs 20.16 crore during 2022-23, culminating in a year of tremendous progress for the bank," the statement said. The bank's Managing Director and Chief Executive Officer J Venkatramu said initiatives like Jan Dhan Yojana, Aadhaar, and India Stack, along with regulatory push in the domain of financial inclusion contributed heavily to its success. "The bank's prudent financial management, backed by regulatory support, has paved the way for exponential growth in customer base and product offerings," he said. Going forward, IPPB aims to transform itself into a universal service platform, bridging last-mile accessibility gaps using Digital Public Infrastructure, the statement said. Prime .

Retail store Lifestyle International FY23 profit jumps to Rs 700 cr

Retail store chain Lifestyle International Ltd, part of Dubai-based retail and hospitality conglomerate Landmark Group, has reported a jump in its net profit to Rs 700 crore for FY23, according to data accessed by business intelligence platform Tofler. Besides, revenue from operations of Lifestyle International also rose 49.5 per cent to Rs 11,672 crore for the financial year that ended on March 31, 2023. The company operates retail stores under the brand names - Lifestyle Stores (large format departmental stores), Home Centre (home improvement stores) and Max (value fashion chain) along with international fashion apparel brands Bossini and Kappa. Its net profit for the financial year 2021-22 was Rs 269 crore and revenue from the operations stood at Rs 7,806 crore. The total revenue of Lifestyle International for FY 2022-23 was Rs 11,810 crore. Its total expenses were at Rs 10,877 crore, up 40.73 per cent for the financial year ended on March 31, 2023.

Eveready Industries soars 11% on strong volume; hits 52-week high

The stock has gained nearly 43 per cent so far in FY24 as against a 12 per cent rally in benchmark Sensex.

Dredging Corporation surges 14%, hits over 4-year high on solid Q1 results

The company said that they are aiming at a record highest turnover of Rs 1,200 crore for FY24

All eyes on rural recovery and volume growth in FMCG post Q1 results

Brokerages have highlighted that the second half of the year will be closely observed

Multi-brand retail chain Big-C mobiles eyes Rs 1,500 cr turnover in FY24

Hyderabad-based multi-brand mobiles retail chain Big-C mobiles has set a target of Rs 1,500 crore as turnover in the current financial year, said company's founder, chairman and managing director M Balu Chowdary. The company had achieved Rs 1,000 crore turnover in FY2022-23. Big-C mobiles, which currently has 250 outlets across Telangana, Andhra Pradesh and Tamil Nadu, in a release said it plans to open 150 new outlets in two years with investment of around Rs 300 crore. "We are aiming at taking the outlet count to 400 by opening 150 new outlets in two years with investment of around Rs 300 crore. We are also growing our portfolio of products beyond mobiles and introducing more and more electronics and gadgets. We will enter more markets. We have a strong 3 crore customer base," Chowdary said. "Big-C started its operations on December 23, 2002. We have successfully completed two decades by achieving market leadership in mobile retailing in Telangana and Andhra Pradesh. We will ...

WeWork India Q1 revenue up 40% to Rs 400 cr on rising demand: CEO Virwani

Co-working major WeWork India's revenue grew by 40 per cent to Rs 400 crore during the first quarter of this fiscal year on rising demand for flexible workspace across major cities from corporates, its CEO Karan Virwani said. The company, which is owned by real estate firm Embassy Group and WeWork Global, has started its 50th centre at Saket in South Delhi, marking its entry into the national capital market. The new centre, comprising 54,000 square feet area and around 700 desks, is located in a commercial building developed by realty firm Eldeco. In an interview with PTI, Virwani said the company has completed six years since it opened the first centre in India and now it has 50 centres and around 90,000 desks across seven cities. "It has been a great journey of growing both the co-working/flexible workspace segment and WeWork India as a brand. In the last three years, since COVID, the adoption of flex space growing significantly," he said. The demand is increasing as more and mor

PNB Housing Finance jumps 8% on recovery of Rs 784 crore corporate NPA

So far this calendar year, the stock has rallied 56 per cent, as against a 6 per cent rise in the S&P BSE Sensex

KEC International zooms 8% on securing multiple orders worth Rs 1,007 cr

Among others, the company secured its first order to construct a Multispeciality Hospital in India, on design-build basis.

FMCG Q1: Volume up as inflation moderates, small players make comeback

The FMCG industry witnessed growth in volume and expansion in gross margins in the June quarter aided by moderation in inflation which also boosted small players in select categories. Several small players, which had earlier vacated some of the market segments during the peak of inflation, returned back and intensified the competition at the local level, forcing several big FMCG players to go for price corrections. Most of the listed FMCG entities reported volume-based growth in home care, personal care, beauty and foods products business, except the ice cream and beverages portfolio which was impacted by unseasonal rains in April and early May during the quarter. As material inflation reduced from high single digits to low single digits, there has been an uptick in volumes in both urban and rural markets, indicating promising signs of recovery in demand and makers including HUL, ITC, Godrej Consumer, Dabur, Marico and Tata Consumer are increasing spends on advertising and ...

Paper, paperboard imports surges 39% to 409,000 tonnes in Apr-Jun qtr

India's imports of paper and paperboard surged by 39 per cent at 409,000 tonnes in the first quarter of 2023-24 against 294,000 tonnes in the year-ago quarter, according to an industry body. In value terms, imports rose by 28 per cent to Rs 3,153 crore in the first quarter of FY2023-24 compared to the year-ago period, Indian Paper Manufacturers Association said citing Directorate General of Commercial Intelligence and Statistics data. The surge in imports comes on the back of a 25 per cent increase in paper and paperboard imports in FY2022-23 over the previous fiscal, according to the official trade data. In FY23, paper and paperboard worth Rs 12,531 crore were imported. In the April-June period of FY24, imports from ASEAN jumped nearly three-fold and from China by 37 per cent in volume terms. Imports of all grades of paper accelerated in the first quarter with the highest jump of 214 per cent seen in imports of uncoated writing & printing paper, 28 per cent in coated paper and ...

Erratic monsoon may halt tractor stocks' rally in near-term: Analysts

Analysts believe the on-going rally across tractor stocks may face headwinds from spatial distribution of monsoon across the country, which could keep sentiments in check

Urban Company's FY23 loss reduces to Rs 308 cr from Rs 514 cr in FY22

The home services marketplace said that its revenue from operations grew 45 % year-over-year from Rs 438 crore in FY22 to Rs 637 crore in FY23

India's tablet market shipment declines by 22% in June quarter: Report

Tablet market shipment in India declined by 22 per cent year-over-year in the June 2023 quarter, while it grew 29 per cent quarter-on-quarter, CyberMedia Research said in a report. Apple led the tablet market with a marginally higher share than Samsung. "The overall tablet market witnessed a 22 per cent YoY decline in the second quarter, 2023," CMR's Tablet PC market report said. According to the report, 5G tablets show a 7 per cent year-on-year growth. "WiFi tablet shipments surged 12 per cent YoY, claiming a 54 per cent shipment share," the report noted. Both Apple and Samsung tablet shipments during the quarter grew by six per cent. However, Apple led the market with 25.38 per cent share, closely followed by Samsung at 25.31 per cent. "Apple retained leadership with a 25.38 per cent market share, driven by its premium offerings. Samsung secured the second spot with a 25.31 market share," the report said. Lenovo's shipment declined by 30 per cent, but it still managed to be i

Bandhan Bank disappoints Street in Q1; analysts 'positive' on the stock

Quite a few analysts are maintaining a 'buy' rating on the bank but they have downgraded earnings and RoA (return on assets) expectations and target prices