Page 73 - Q1 Results

GVK Power & lnfrastructure Q1 profit at Rs 275 cr due to lower expenses

GVK Power & lnfrastructure on Friday posted a consolidated net profit of Rs 275.27 crore for June quarter 2023-24, mainly due to lower expenses. The company had reported a consolidated net loss of Rs 400.08 crore for the quarter ended June 30, 2022, a BSE filing said. Total expenses declined to Rs 240.27 crore in the quarter from Rs 809.18 crore in the same period a year ago. Total income dipped to Rs 515.50 crore from Rs 620.37 crore in the same period a year ago. The company's board appointed T Ravi Prakash as the Company Secretary & Compliance Officer and his appointment is effective from September 1, 2023.

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

Himatsingka Seide soars 13%, hits 52-week high on robust Q1 results

The improved operating performance in Q1FY24 was on the back of improved capacity utilisation levels, softening raw material prices and marginal easing of energy costs.

Kirloskar Oil soars 11%, hits new high on strong June quarter earnings

Looking ahead, the management is confident about the future prospects and expects to capitalise on the growth opportunities in key sectors, including exports, infrastructure, and data centres.

LIC jumps 5% on 14x profit growth in Q1; stock up 21% in 3 months

The company's assets under management (AUM) increased 12.41 per cent YoY to Rs 46.11 trillion as on June 30, compared to Rs 41.02 trillion a year ago

Stocks to Watch today: LIC, Hero Moto, Apollo Tyres, TRIL, Zee, GR Infra

Stocks to watch on August 11, 2023: Balrampur Chini, Chambal Fertilisers, Delta Corp, Indiabulls Housing Finance, Manappuram Finance and Zee among eight stocks in F&O ban period on Friday.

GIC Re net profit rises 6.1% to Rs 732 crore in June quarter of FY24

GIC Re on Thursday reported a 6.1 per cent increase in net profit at Rs 732 crore in the June quarter, despite a steep fall in gross premium income and massive underwriting of losses. The company -- the country's only reinsurer -- had recorded a net profit of Rs 689.72 crore in the year-ago period, it said. GIC Re said its gross premium income in the first quarter of the current fiscal declined to Rs 8,917.71 crore from Rs 11,021.83 crore a year ago. It underwrote Rs 1,557.44 crore losses in the quarter under review compared to that of Rs 776.29 crore in the year-ago period. The mounting underwriting of losses saw the combined ratio -- a key profitability metric in general insurance -- falling to 118.47 during the quarter as against 110.97 for the year-ago period. The adjusted combined ratio -- the sum of the loss ratio and the expense ratio -- stood at 97.24 as against 97.01 in the year-ago quarter. The solvency ratio of the state-run firm rose to 2.88 from 2.14. Total assets o

LIC profit up 14x at Rs 9,543 crore in Q1; premium income stayed flat

Investment income boosts profit; premium income stays flat; individual policies sold fall

Biocon Q1 results: Consolidated net profit falls 11% to Rs 148.9 cr

Biocon Ltd on Thursday reported an 11 per cent decline in consolidated net profit at Rs 148.9 crore in the first quarter ended June 30, 2023. The company had posted a consolidated net profit of Rs 167.4 crore in the same quarter last fiscal, Biocon Ltd said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 3,422.6 crore as compared to Rs 2,139.5 crore in the corresponding period a year ago, it added. Total expenses were higher at Rs 3,299.2 crore in the first quarter as against Rs 1,977.5 crore in the year-ago period, the company said. On a standalone basis, Biocon said its net profit was at Rs 46.6 crore, up from Rs 14.9 crore in the same quarter previous fiscal. Standalone revenue from operations stood at Rs 513.2 crore as compared to Rs 441.7 crore in the year-ago quarter, the filing said. The company said its board approved the appointment of Nicholas Robert Haggar as an Additional Non-Executive, Independent Director sub

Grasim Industries posts 56% Q1 profit drop on chemicals, textile slump

Prices of chemicals, including caustic soda, fell in the in the June quarter, leading to a 21.5% revenue drop in the company's second-largest business

Ride-hailing company Ola Cabs loss widens to Rs 3,082 crore in FY22

Ride-hailing company Ani Technologies Pvt Ltd, popularly known as Ola Cabs, saw its loss widening to Rs 3,082 crore in 2021-22, according to financial data accessed by business intelligence platform Tofler. The company's losses have more than doubled on a year-over-year basis, the data showed. "Ani Technologies Pvt Ltd, an online transportation network company (popularly known as Ola Cabs), reported its revenues for the 2021-22 financial year at Rs 1,350 crore, a 49 per cent jump since the last financial year," Tofler said in a statement. "The company further reported a net loss of Rs 3,082 crore during the fiscal. This is a 132 per cent higher than the last financial year," the statement said. The company's total expenses for the fiscal were reported as Rs 1,539 crore, the statement said. An email query sent to Ola seeking a response did not elicit an immediate reply. Ola operates in more than 250 cities in India, Australia, New Zealand, and the UK.

Kirloskar Oil Engines Ltd profit rises 53% to Rs 126 crore in June quarter

Kirloskar Oil Engines Limited on Thursday reported a 53 per cent jump in consolidated net profit to Rs 126 crore in the June quarter. The company had delivered a consolidated net profit of Rs 82 crore in the year-ago period, Kirloskar Oil Engines said. Revenue for the first quarter of the current fiscal was Rs 1,543 crore compared to Rs 1,191 crore last year, registering a 30 per cent increase, it said. "We commenced the year on a positive note. This quarter witnessed substantial advancements in our B2B product lineup, marked by noteworthy product introductions and range expansions," the company's Managing Director Gauri Kirloskar said. "On the B2C front (at a consolidated level), the company continues to make improvements in profitability. This quarter, we delivered a 15 per cent growth in profit on a 4 per cent growth in topline," he said. The company has entered the high horse power (HHP) range, with the introduction of its OptiPrime range, designed with a focus on segments suc

Container Corp Q1 results: Profit falls 17% as costs rise, revenue slip

State-owned Container Corporation of India reported a more than 17% fall in first-quarter profit on Thursday after costs increased and revenue fell

SAIL Q1 results: Consolidated net profit drops 74% to Rs 212 cr,

State-owned SAIL on Thursday posted a 74 per cent fall in its consolidated net profit to Rs 212.48 crore in the April-June quarter, dragged by higher expenses. It had clocked a net profit of Rs 804.50 crore in the April-June period of the preceding 2022-23 fiscal, the steel maker said in a regulatory filing. The company's total income was at Rs 24,822.83 crore as against Rs 24,199.51 crore in the year-ago quarter. Total expenses surged to Rs 24,598.06 crore from Rs 23,295.23 crore a year ago. Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is among the top four steel manufacturing companies in India.

Hero MotoCorp Q1FY24 result: Consolidated net profit up 19% to Rs 700 crore

The revenue from operations for Q1FY24 came in at Rs 8,851.01 crore, compared to Rs 8,447.54 crore year-on-year

Apollo Tyres Q1 profit more than doubles to $48.07 million on lower costs

Apollo Tyres reported a bigger-than-expected rise in quarterly profit on Thursday, boosted by lower rubber costs and strong domestic auto sales

Hero MotoCorp misses Q1FY24 profit view on reduction in sales volume

India's largest motorcycle maker Hero MotoCorp on Thursday missed first-quarter profit estimates, hurt by a drop in sales volume

LIC Q1 net profit jumps multifold to Rs 9,544 cr; GNPA eases to 2.48%

The net premium income of LIC was almost flat at Rs 98,362.75 crore, compared to Rs 98,351.76 crore in the corresponding period of last year

LIC India Q1 profit rises fourteen-fold, reports PAT of Rs. 95.44 bn

However, the first-year premium for the reporting quarter came down to Rs 6,811 crore as against Rs 7,429 crore in the year-ago period, it said

Torrent Power net up 6% to Rs 532 cr in June quarter due to higher revenues

Torrent Power on Thursday posted over six per cent year-on-year rise in consolidated net profit at Rs 532.28 crore in the June quarter, mainly on the back of higher revenues. The company had reported consolidated net profit of Rs 502.01 crore a year ago, a regulatory filing said. Total income of the company rose to Rs 7,413.32 crore in the quarter under review, from Rs 6,618.62 crore in the same period a year ago. The board also approved a scheme of arrangement on August 10, 2023 between Torrent Power Ltd and Torrent Green Energy Private Ltd (TGEL), a wholly-owned subsidiary of the company on a going concern basis by way of a slump sale with an appointed date of April 1, 2024. Upon the scheme becoming effective, a cash consideration of Rs 1,056.97 crore will be paid in one or more tranches, with or without interest within a period of six months from the effective date, subject to the book value adjustments as provided in the scheme, the filing said. The scheme does not involve mer