Page 74 - Q1 Results

HGS Q1 net profit slumps to Rs 16.63 crore as other income declines

Hinduja Global Solutions' net profit more than halved to Rs 16.63 crore in just ended June quarter, compared to the year-ago period, hurt by reduction in other income. The total income stood at Rs 1,247.6 crore during the first quarter ended June 2023, compared to Rs 1,321.33 crore in the same period of the previous year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margins (including other income) improved from 11.5 per cent in Q4 FY2023 to 15.3 per cent in Q1 FY2024. Partha DeSarkar, Executive Director and Group CEO of HGS said: "The results for the first quarter of the fiscal have been solid and reflect our transformative ability to adapt in a fast-changing macro-business environment." The business process management business achieved operating revenue growth of 7 per cent over Q4 FY2023, along with significant improvement in margins. While the operational performance has improved, PAT (profit after tax) for Q1 FY2024 is lower than Q1 FY2023, primari

Insecticides India Q1FY24 profit falls 24% on higher expenses

Insecticides (India) Ltd on Thursday posted a 24 per cent drop in its consolidated net profit to Rs 29.14 crore during the first quarter of 2023-24 on higher expenses. Net profit stood at Rs 38.30 crore in the same quarter of the previous financial year, according to a regulatory filing. Total consolidated income increased to Rs 639.95 crore during the April-June quarter of the 2023-24 fiscal from Rs 560.68 crore in the year-ago period. However, the company's expenses were higher at Rs 604.35 crore as against Rs 510.26 crore in the said period. The company said it incorporated a wholly-owned subsidiary IIL Overseas DMCC (Dubai) on May 1 this year to carry out the business of trading of insecticides, agricultural and veterinary products. Shares of the company settled lower by 0.71 per cent at Rs 463.45 apiece on BSE on Thursday.

Bajaj Electricals Q1 results: Net profit declines 9.8% to Rs 37 crore

Bajaj Electricals Ltd on Thursday reported a 9.85 per cent decline in consolidated net profit at Rs 37.13 crore in the June quarter. The company had posted a net profit of Rs 41.19 crore in the year-ago period, Bajaj Electricals said in a regulatory filing. Its net sales were down 1.5 per cent to Rs 1,107.98 crore in the first quarter of the current fiscal as against Rs 1,124.88 crore in the year-ago period. Bajaj Electricals' total expenses were almost flat at Rs 1,079.02 crore during the quarter, while total revenue maintained its level from the previous year at Rs 1,132.04 crore. Its revenue from the consumer products segment was up 2.01 per cent at Rs 872.60 crore in the quarter under review as against Rs 855.36 crore last year. However, revenue from its lighting solutions segment was down 12.52 per cent to Rs 239.53 crore from Rs 273.83 crore in the June quarter last year. Bajaj Electricals has demerged its engineering, procurement and construction (EPC) business after appro

Thomas Cook India Q1 results: Consolidated net profit up 27% to Rs 147 cr

The company reported Rs 91.4 crore in consolidated operating profits this quarter as against Rs 3.3 crore in Q1FY23

Sensex ends 308 pts lower post RBI policy, Nifty near 19,550; Zee zooms 20%

CLOSING BELL ON AUGUST 10, 2023: Private bank and select auto stocks ended with notable losses after the RBI on Thursday asked banks to maintain Incremental Cash Reserve Ratio (ICRR) at 10 per cent.

NIIT Learning Systems Q1 results: Consolidated net profit at Rs 55.17 crore

NIIT Learning Systems on Thursday reported a consolidated net profit of Rs 55.17 crore for the first quarter ended June 30, 2023. NLSL had posted profit after tax (PAT) of Rs 55.2 crore in the same period a year ago, the company said in a regulatory filing. The revenue from operations grew 22 per cent at Rs 382.3 crore, up from Rs 312.5 crore in the June 2022 quarter. "Despite the challenging macroeconomic environment and prevailing uncertainty, the business continues to attract new customers as well as maintain its track record of 100 per cent renewals. "This would provide a strong platform for growth as we see a reversion to normal consumption levels," NIIT co-founder and NLSL Managing Director Vijay K Thadani said. In a statement, the company said the "results are not comparable with previously declared results due to the transfer of Corporate Learning Business undertaking from NIIT to NLSL, with effect from April 1, 2022, the appointed date". NLSL has partnered with EIT InnoE

Trent rallies 7% to hit a new high in a tepid market on strong Q1 results

Brokerages estimate that Trent's robust performance during challenging times and industry leading performance will continue to warrant premium valuations

Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand

Consolidated net profit was 371.3 million rupees ($4.49 million) for the three months ended June 30, compared with 429.6 million rupees a year earlier

DreamFolks tanks 28% in 2 days on disappointing Q1 performance

The company said one-off abnormal increase in common area maintenance charges has led to increase in lounge cost.

Force Motors surges 10%, hits over 5-year high on stellar Q1 performance

Thus far in the current financial year 2023-24, the stock has zoomed 161 per cent, as compared to 11.6 per cent rise in the S&P BSE Sensex.

Stocks to Watch today, Aug 10: Rate sensitives, IRCTC, Bata, Force Motors

Stocks to watch on August 10, 2023: Shares of rate sensitive sectors, such as auto, banks and real-estate will be in focus on Thursday as RBI announces its policy decision.

Reliance Power net loss widens to Rs 296 cr in Q1 on lower income

Reliance Power on Wednesday said its net loss widened to Rs 296.31 crore in the June quarter on the back of lower income and higher expenses. It had clocked a net loss of Rs 160.79 crore during the year-ago quarter, the company said in a regulatory filing. The Anil Ambani-led company's total income declined to Rs 1,958.72 crore in the first quarter of the current fiscal from Rs 2,144.97 crore in the year-ago period. Its expenses rose to Rs 2,182.69 crore in the April-June period as against Rs 2,145.90 crore in the same period a year ago. "The board of directors of the parent company in its meeting on August 5, 2023 approved issuance of 7,59,77,000 equity shares of Rs 10 each at a premium of Rs 10 per equity share aggregating to Rs 151.95 crore to Reliance Commercial Finance Ltd...," the filing said. Shares of Reliance Power settled at Rs 18.25 apiece on the BSE, up 2.59 per cent from its previous close.

V-Mart Retail posts Rs 22 crore net loss in Q1 for quarter ending June

V-Mart Retail on Wednesday reported a net loss of Rs 21.94 crore in the June quarter. It had reported a net profit of Rs 20.45 crore in the April-June period a year ago, V-Mart said in a regulatory filing. However, its revenue from operations was up 15.41 per cent to Rs 678.52 crore in the first quarter of the ongoing fiscal as against Rs 587.88 crore in the year-ago period. "The company's EBITDA margin stood strong at 13 per cent of revenue excluding the loss contributed from the newly acquired Limeroad marketplace segment," an earning statement from V-Mart Retail said. EBITDA refers to Earnings Before Interest, Taxes, Depreciation and Amortisation. Total expenses of the value fashion retailer were up 25.67 per cent to Rs 708.99 crore in the first quarter of FY 2023-24. In the June quarter, its total income was at Rs 680.02 crore, up 14.87 per cent. The company continued its store expansion plan and opened 9 new stores in the June quarter, taking the total count to 431. Shares

Bata India posts first profit drop in two years on sluggish demand

Bata has lagged its peers due to a slow pace of innovation and ebbing brand pull, while its lower-price products have grown at a slower pace, brokerage Ambit Capital had said in a note in May

Indowind Energy reports 6% decline in Q1 net profit to Rs 1.51 cr

Indowind Energy on Wednesday reported an over 6 per cent decline in its consolidated net profit at Rs 1.51 crore in the June quarter, mainly due to lower revenues. The company had reported a consolidated net profit of Rs 1.61 crore in the quarter ended on June 30, 2022, according to a regulatory filing. Total income of the company also fell to Rs 7.67 crore during the quarter from Rs 7.83 crore a year ago. The board has approved raising capital of up to Rs 50 crore for meeting the project expansion requirements and has constituted a committee to finalise the type of offering in line with statutory & regulatory requirements, in consultation with the investment bankers & legal advisers, the company said.

Improved production, higher cash flow drive Q1 boost for Coal India stock

Monthly production data and global price trends are key variables going forward

Bombay Dyeing standalone net loss widens to Rs 119 cr for Jun quarter

Leading textile company Bombay Dyeing & MFG Co on Wednesday said its standalone net loss widened to Rs 119.84 crore for the first quarter ended June 30. It had posted a net loss of Rs 76.84 crore in the corresponding period of the previous year. The company has attributed this decline to lower sales in its polyester vertical. Its revenue from operations also declined to Rs 498 crore during the quarter against Rs 606 crore in the year-ago period, the company said in a regulatory filing. The company's revenue from polyester business fell to Rs 351 crore during the quarter under review compared to Rs 456 crore a year ago. In a parallel development, the board of directors approved the termination of the Deposit Agreement with Citibank NA for the company's Global Depository Receipts (GDRs). Additionally, its GDRs are set to be delisted from the Luxembourg Stock Exchange. Shares of Bombay Dyeing & MFG Co on Wednesday settled at Rs 115.60 apiece on BSE, up 2.71 per cent from the ...

GMR Power and Urban Infra reports Rs 217 crore net loss in June quarter

GMR Power and Urban Infra Ltd on Wednesday posted a net loss of Rs 217 crore for the June quarter. It had clocked a net profit of Rs 201 crore in the year-ago period, the company said in a regulatory filing. The company said its total income increased to Rs 1,190 crore in the first quarter of the current fiscal from Rs 1,163 crore a year ago.

Stock exchange BSE reports 71% surge in profit to Rs 75 crore in Q1

Leading stock exchange BSE on Wednesday reported a 71 per cent jump in net profit at Rs 75.1 crore for the June quarter. The exchange had posted a net profit of Rs 44 crore in the same period of the preceding fiscal, BSE said in a statement. Its total revenues rose 37 per cent to Rs 271.2 crore in the first quarter of the ongoing fiscal from Rs 197.7 crore in the corresponding quarter of the previous year. BSE's average daily turnover in the equity cash segment stood at Rs 4,025 crore in the June quarter, marginally down from Rs 4,057 crore in the year-ago period. The average daily turnover in currency futures was Rs 13,800 crore in the quarter under review, down 20 per cent from the year-ago period. The exchange's relaunched Sensex and Bankex derivatives registered an average daily turnover of Rs 62,307 crore between May 15 and June 30. During the June quarter, the BSE platform has enabled issuers to raise Rs 4.4 lakh crore through issue of equity bonds, commercial papers, munic

Zee Entertainment swings to Q1 loss on weak advertising, higher costs

Zee flagged muted advertisement spending, mainly due to the Indian Premier League, a cricket league, during the first two months of the quarter