Page 71 - Q1 Results

SPIC reports decline in Q1 PAT at Rs 43.97 cr due to global energy prices

Southern Petrochemicals Industries Corporation Ltd (SPIC) has reported a decline in its profit after tax for the April-June 2023 quarter at Rs 43.97 crore, due to rising global energy prices, the company said on Sunday. The city-based agri-nutrient and fertiliser company, a part of AM International, Singapore had reported profit after tax of Rs 66.85 crore during the corresponding quarter of the previous year. For the year ending March 31, 2023, the company's profit after tax stood at Rs 284.44 crore, a statement released by the company said. Commenting on the company's financial performance, SPIC Chairman Ashwin Muthiah said, "The company during the quarter has navigated through a dip in turnover while successfully safeguarding the PAT, as compared to the corresponding period of the previous year, in the face of rising global energy prices." Total income during the quarter under review slipped to Rs 571.19 crore from Rs 753.07 crore recorded in the corresponding period of last ...

Electricity output sees 1.3% Q1 growth due to unseasonal rains: Govt Data

The country's electricity output witnessed a marginal growth of 1.3 per cent in April-June quarter of 2023, compared to 17.1 per cent in the same period a year-ago, mainly due to unseasonal rains, government data shows. According to the latest Index of Industrial Production (IIP) data, a measure for factory output, electricity output contracted by 1.6 per cent in March and 1.1 per cent in April this year. The electricity output remained almost flat and saw a growth rate of 0.9 per cent in May and improved marginally to 4.2 per cent in June this year. The data showed that the electricity output growth remained low at 1.3 per cent in the April-June quarter of this fiscal, compared to 17.1 per cent a year ago. Industry experts said electricity output, demand and consumption were affected due to unseasonal rains, which led to fewer usage of cooling appliances like air conditioners. The data showed that the electricity output growth was robust at 12.7 per cent in January and 8.2 per ce

Aurobindo Pharma profit increases 10% at Rs 571 cr in June quarter

Aurobindo Pharma on Saturday said its consolidated net profit increased 10 per cent to Rs 571 crore in the first quarter ended June 30, 2023, on account of robust sales across regions. The drug firm had reported a net profit of Rs 520.5 crore in April-June 2022-23. Revenue from operations rose to Rs 6,850.5 crore from Rs 6,236 crore in the year-ago period, the Hyderabad-based firm said in a statement. With the product pipeline continuing to advance, and execution of growth drivers proceeding as planned, the company is confident that its fundamental strengths position it to create an upward trajectory, Vice-Chairman and Managing Director K Nithyananda Reddy said. "Looking ahead, we are confident in executing our growth initiatives and creating long-term value for our shareholders," Reddy said.

Crompton Greaves net profit falls 3.1% to Rs 122.03 cr in June quarter

Crompton Greaves Consumer Electricals Ltd on Saturday reported a 3.11 per cent decline in its consolidated net profit to Rs 122.03 crore in the first quarter ended in June 2023. The company had posted a net profit of Rs 125.95 crore in the April-June quarter a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing. Its revenue from operations increased marginally to Rs 1,876.85 crore during the quarter under review against Rs 1,862.94 crore in the year-ago period. CGCEL's total expenses were at Rs 1,740.83 crore, up 2.81 per cent in the first quarter of FY 2023-24. Its total income in the June quarter was Rs 1,896.65 crore, up 1.24 per cent. In the June quarter, CGCEL's revenue from the electric consumer durables segment revenue was at Rs 1,428.98 crore compared to Rs 1,347.18 crore in Q1 FY23. However, revenue from lighting products slipped 12.68 per cent to Rs 228.98 crore against Rs 262.26 crore. While revenue from its new subsidiary Butterfly

IREDA reports Q1 net profit of Rs 295 cr, loan book grows to Rs 47,207 cr

State-owned Indian Renewable Energy Development Agency (IREDA) has posted a profit after tax (PAT) of Rs 295 crore for the June quarter on account healthy loan book. In a statement on Saturday, IREDA said it has "reported loan disbursement of Rs 3,173 crore with a growth of 272 per cent, all-time high quarterly PAT of Rs 295 crore, up 30 per cent. Loan book surged 44 per cent to Rs 47,207 crore as of June 30, 2023, showcasing a robust growth of 44 per cent." IREDA, under the Ministry of New and Renewable Energy (MNRE), is a Non-Banking Financial Institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation. Its PAT in the June quarter of 2022-23 was Rs 226 crore. Its loan book was Rs 32,679 crore and loan disbursements were Rs 852 crore, the company said. Its total income from operations was at Rs 1,143 crore, up 45 per cent as against Rs 786 crore in the ...

Kirloskar Industries profit after tax dips 9% to Rs 94 cr in June quarter

Kirloskar Industries Ltd on Saturday reported a 9 per cent year-on-year drop in its consolidated Profit After Tax (PAT) at Rs 94 crore for June quarter of the ongoing financial year. The company had posted a consolidated PAT of Rs 102.9 crore in the first quarter of FY23, Kirloskar Industries said in a statement. The total income for the quarter under review stood at Rs 1,518.2 crore, as compared to Rs 1,513.5 crore in the corresponding quarter of the previous fiscal, the company said. Kirloskar Industries Managing Director Mahesh Chhabria said the company is now entering into an exciting phase of its business realignment plan, and that "Avante's first project is progressing as planned and we expect to complete it at the end of the year." Kirloskar Industries also said in the statement that its wholly-owned subsidiary, Avante Spaces Ltd, has issued 27,24,868 fully paid-up equity shares on June 30, to the company on the conversion of Optionally Convertible Debentures (OCDs), basis f

JK Cement profit declines 29.4% to Rs 113.46 crore in June quarter

JK Cement Ltd on Saturday reported a 29.43 per cent decline in its consolidated net profit to Rs 113.46 crore for the first quarter that ended on June 30, 2023. The company had posted a net profit of Rs 160.79 crore in the April-June period a year ago, JK Cement said in a regulatory filing. Its revenue from operations was up 21.57 per cent to Rs 2,762.62 crore during the quarter under review as against Rs 2,272.38 crore in the year-ago period. JK Cement's total expenses were at Rs 2,598.63 crore, up 27.58 per cent in the first quarter of FY 2023-24. The total income of JK Cement in the June quarter was Rs 2,794.22 crore, up 22.16 per cent over the year ago period.

Eveready Industries Q1 profit up 13.8% to Rs 24.86 cr, revenue up 8.4%

Battery and flashlights maker Eveready Industries India Ltd on Saturday reported a 13.77 per cent increase in its consolidated net profit to Rs 24.86 crore for the first quarter that ended on June 30, 2023, led by operating growth. The company had posted a net profit of Rs 21.85 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing. Its revenue from operations was up 8.4 per cent to Rs 363.57 crore during the quarter under review as against Rs 335.38 crore in the year-ago period. "Profit After Tax during Q1 showed healthy improvement on the back of operating growth," Eveready Industries said in a statement. Eveready Industries, now controlled by the Burman family, reported total expenses of Rs 335.96 crore, up 8.2 per cent in the first quarter of FY 2023-24. The total income of Eveready Industries in the June quarter was Rs 366.41 crore, up 9.11 per cent. Commenting on the result, Managing Director Suvamoy Saha said: "It has been an endeavour

Indiabulls Real Estate sale bookings down 75% to Rs 74 cr in June quarter

Indiabulls Real Estate Ltd's (IBREL) sale bookings fell 75 per cent to Rs 74 crore in the first quarter of this fiscal. Its sale bookings stood at Rs 297 crore in the year-ago period, according to an investor presentation. In terms of volumes, the company's sale bookings fell to 82,000 square feet during April-June period of this fiscal from 3,33,000 square feet in the corresponding period of the previous year. IBREL has reported a consolidated net loss of Rs 679.34 crore for the first quarter of this fiscal year, widening from a loss of Rs 51.77 crore in the year-ago period. The company's loss widened due to provisions for possible loss of Rs 629 crore as an exceptional item. Total income however increased to Rs 209 crore during April-June from Rs 164.19 crore in the corresponding period of the previous year. "Exceptional item for the quarter ended 30 June 2023 includes impairment provision of Rs 629.07 crore shown as recoverable in one of the foreign subsidiaries of the compan

PTC India consolidated net profit up 5.62% to Rs 143 cr in June quarter

Power trading solutions provider PTC India on Saturday posted a 5.62 per cent year-on-year rise in its consolidated net profit at Rs 142.70 crore for the April-June quarter of this fiscal, mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 135.10 crore in the quarter ended on June 30, 2022, the company said in a regulatory filing. Total income of the company rose to Rs 4,863.46 crore in the quarter under review, from Rs 4,310.74 crore in the same period a year ago. "The company achieved an impressive 21 per cent growth in profitability, propelled by strong growth in volumes and effective working capital management," PTC India Chairman & Managing Director Rajib K Mishra said. He noted that the company achieved the highest ever PBT (profit before tax) and PAT (profit after tax) for the first quarter of a financial year. The subsidiary companies continued to perform well during the quarter reaffirming the robustness and overall resilience of

NHPC posts 4% rise in consolidated net profit to Rs 1,095 cr in Q1

State-owned hydro power giant NHPC on Friday posted a 4 per cent rise in its consolidated net profit to Rs 1,095.38 in the June quarter compared to the year-ago quarter mainly on the back of higher revenues. The consolidated net profit of the company was Rs 1,053.76 crore in the quarter ended on June 30, 2022, a BSE filing showed. The total income of the company increased to Rs 3,010.22 crore in the quarter from Rs 2,886.95 crore in the same period a year ago. The NHPC Ltd is India's premier hydropower company. Its total installed capacity is 7097.2 MW of renewable power (including Wind & Solar) through its 25 power stations including 1520 MW through subsidiary.

NBCC posts Rs 77.41 cr profit in Q1, total income rises to Rs 1,965 cr

State-owned NBCC Ltd has posted a consolidated net profit of Rs 77.41 crore in the first quarter of this fiscal year. The company had posted a net loss of Rs 4.84 crore in the year-ago period. Total income increased to Rs 1,965.80 crore during April-June quarter of 2023-24 financial year, from Rs 1,853.24 crore in the corresponding period of the previous year, according to a regulatory filing on Thursday. NBCC is into project management consultancy (PMC) and real estate businesses. NBCC said in a statement that 94.6 per cent of business revenue comes under PMC segment and redevelopment works.

ONGC's Q1 net profit drops 34% on back of lower oil prices, output

The net profit of Oil and Natural Gas Corporation (ONGC) fell over 34 per cent in June quarter on decline in oil prices and lower output, the firm said. Net profit of Rs 10,015 crore in April-June (first quarter of current 2023-24 fiscal year) compared to Rs 15,206 crore earning in the same period last year, the company said in a statement. ONGC, India's top crude oil and natural gas producer, earned USD 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of USD 108.55 per barrel last year. Oil prices globally had risen sharply in April-June 2022 after Russia's invasion of Ukraine led to uncertainties over supply and demand. Crude oil pumped out of below ground and seabed is refined in refineries to produce petrol, diesel and other fuels. Natural gas is used to generate electricity as well as burn kitchen stoves and run automobiles (CNG). Gross revenue fell 20 per cent to Rs 33,814 crore. ONGC said crude oil production was 3.2

Global Health profit increases nearly 78% to Rs 102 crore in June quarter

Global Health, which runs Medanta hospitals, has reported a nearly 78 per cent year-on-year jump in net profit to Rs 102 crore for the June quarter boosted by higher margins and revenue realisation. Its income rose 26.8 per cent to Rs 794.5 crore in the first quarter of the current fiscal, while operating margins went up to 25.1 per cent from 22.6 per cent in the year-ago period, the multi-speciality tertiary care hospital chain, which operates in the north and eastern regions, according to a statement. For the Gurugram-based company, the average occupied bed days increased by 16.2 per cent, representing an occupancy of 58.1 per cent in the first quarter on increased bed capacity. In-patient volume rose 19.4 per cent and out-patient volume went up by 17.5 per cent. Revenue share from the developing hospitals in Lucknow and Patna increased from 23.4 per cent to 28.9 per cent, amounting to Rs 229.7 crore. Revenue from international patients increased 45 per cent to Rs 47.7 crore, dri

New India Assurance profit doubles to Rs 260 crore in June quarter

Public sector general insurer New India Assurance on Friday reported doubling of net profit to Rs 260 crore for the June quarter. The non-life insurer had recorded a net profit of Rs 118 crore in the year-ago period. Its total income rose to Rs 9,274 crore in the first quarter of the current fiscal, as against Rs 8,143 crore, New India Assurance said in a regulatory filing. The company said the gross premium during the quarter rose to Rs 11,362 crore as against Rs 10,349 crore last year. The Mumbai-headquartered insurer, which has a presence in 28 countries, earned an income from investment of Rs 1,355 crore as against Rs 962 crore in the year-ago quarter. The gross NPA of the insurer came down to 0.85 per cent from 1.19 per cent in the first quarter of the previous fiscal. The company witnessed an improvement in solvency margin to 1.85 per cent as against 1.72 per cent in the June quarter last year.

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 ..

ESAF Small Finance Bank profit increases 23% to Rs 130 crore in Q1

ESAF Small Finance Bank on Friday posted a 23 per cent increase in net profit to Rs 130 crore for the June quarter helped by a rise in interest income and a decline in bad loans. The operating profit -- net profit plus provisions and contingencies -- grew 33 per cent to Rs 301 crore in the first quarter of the current fiscal from Rs 225 crore in the year-ago period, the Kerala-based lender said in a statement. The bank's net interest income -- interest income minus interest expenditure -- increased by 30 per cent to Rs 585 crore in the quarter from Rs 449 crore a year ago. The bank's gross bad loans, or non-performing assets (NPAs), declined to 1.65 per cent of gross advances at the end of June as against 6.16 per cent in the year-ago period. Similarly, net NPAs, too, slipped to 0.81 per cent from 3.78 per cent in the same quarter a year ago. The bank's capital adequacy ratio stood at 20.56 per cent at the end of the June quarter. "We remain committed to sustainable growth and ..

GRSE reports best-ever net profit of Rs 77 crore in June quarter

Warship maker Garden Reach Shipbuilders & Engineers Ltd (GRSE) on Friday reported its best-ever net profit of Rs 77 crore in the June quarter. The entity saw a 54 per cent increase in net profit as compared to Rs 50 crore it reported in the year-ago period. The total income stood at Rs 827 crore in the first quarter of the current fiscal, 33 per cent higher than Rs 621 crore in the year-ago period. Revenue from operations for the quarter under review grew 30 per cent to Rs 756 crore as compared to Rs 580 crore last year. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) was Rs 117 crore as against Rs 74 crore, registering a growth of 58 per cent. "The current fiscal year has started on a very vibrant note for GRSE with the shipyard recording the best-ever quarterly results in the history of the company," GRSE Chairman and Managing Director Cmde PR Hari said. "The shipyard gears up for the launch of the third Frigate of P17A on August 17... GRSE shall continu

GE Power India's net loss widens to Rs 135.79 crore in June quarter

GE Power India on Friday reported widening of consolidated net loss to Rs 135.79 crore in the June quarter. It had reported a consolidated net loss of Rs 59.02 crore in the year-ago quarter, according to a regulatory filing. The company's total income declined to Rs 440.28 crore in the first quarter of the current fiscal from Rs 520.01 crore in the same period a year ago. "In the June quarter, we continued to see that the turnaround is taking longer than anticipated... we are seeing a slight ease on the FGD (Flue-Gas Desulfurisation) market, but conversion to orders is still slower than expected," GE Power India Managing Director Prashant Jain said in a statement. The company's revenue is down due to lower orders in previous quarters and project delays, he said and added that efforts on claims settlement are ongoing but it is a long-drawn process.

Voltas reports 19% increase in profit on surge in AC sales in June quarter

Voltas shares closed down 0.98% at 828.55 rupees ahead of the results