Page 70 - Q2 Results

Godrej Properties debt up 17% to Rs 6,174 cr to fund land acquisitions

Realty firm Godrej Properties net debt rose 17 per cent in the July-September quarter to Rs 6,174 crore mainly due to fund acquisition of land parcels. According to its investors presentation, the net debt of Mumbai-based Godrej Properties stood at Rs 6,174 crore as on September 30, 2023. Its net debt was Rs 5,298 crore as on June 30, 2023 and Rs 3,649 crore at the end of the last fiscal. Last month, Godrej Properties Executive Chairperson Pirojsha Godrej had said that the net debt has risen because of aggressive land acquisitions done by the company since last April. Most of the land acquisition has been done outright which requires upfront payment, he had said. However, Pirojsha Godrej maintained that the debt position is comfortable as the net debt-equity ratio is 0.65. During the last financial year, Godrej Properties acquired multiple land parcels across various cities to develop housing projects that can generate a revenue of Rs 32,325 crore. In the current fiscal, the comp

Persistent Systems adds 4 execs to leadership team to fuel growth plans

Digital engineering services firm has a target of doubling annual revenue to $2 bn by 2026

Mixed results

Economic activity remains uneven

Siemens net profit down 12.4% to Rs 571 crore in September quarter

"The expansion in capacities of both these products will enable the company to meet the growing demand both in India and globally," the company said

Market share gains, margins and store network expansion to support Titan

Valuations may continue to trade at a premium

Market share gains, margins and store network expansion to support Titan

The company delivered a better than expected performance in Q2FY24 on the back of healthy revenue growth and expansion in operating profit margins

Honasa Consumer shares soar 20% after strong performance in Q2

Shares of the company last closed at Rs 424

Honasa Consumer's profit rises 93% to Rs 29.4 crore in September quarter

According to the firm's first-ever earnings update since its stock market debut earlier this month, consolidated revenue from operations grew 21 per cent Y-o-Y to Rs 496.1 crore

IFGL Refractories hits new high; zooms 87% in 1 month on solid Q2 results

The stock was trading higher for the fourth straight day, surging 26 per cent during the period.

'Post-it' maker 3M India's profit jumps 38% in Q2 on steady demand

It reported a more than 6% rise in revenue from operations to Rs 1,040 crore, helped by a near 5% growth in the transportation and electronics segment

Clean energy firm ReNew posts Rs 377 cr net profit in Sep quarter

Clean energy player ReNew on Monday reported a net profit of Rs 377.1 crore during the September 2023 quarter, supported by higher income. It had clocked a Rs 98.6 crore net loss during the July-September period of the last fiscal, the company said in a statement. Its total income rose to Rs 2,863.2 crore from Rs 2,240.9 crore in the year-ago quarter. The adjusted EBITDA was Rs 2,129.8 crore against Rs 1,820.9 crore in Q2 FY23. As of September 30, 2023, the company said, its portfolio stood at 13.8 GW, including solar and wind capacities, compared to 13.4 GW a year ago.

Divergent trends in consumer spending: Auto shines, FMCG stumbles on demand

The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023

Q2 pit stop: Promoters switch gears and enter retreat lane, shows data

Navigating second-quarter mile: Pledged holdings take a hairpin turn to 1.22%

Serving up a slump: QSR players grapple with a side of demand downturn

Margin pressures could remain as sales dip and cost inflation take a bite

Avadh Sugar posts Rs 29-crore net profit in Q2, total income at Rs 799 cr

Avadh Sugar & Energy Ltd, a K K Birla group company, has reported a net profit of Rs 29 crore for the quarter ended September as against a loss of Rs 16 crore in the corresponding period a year ago. Total income of the Kolkata-headquartered company during the quarter stood at Rs 799 crore, compared to Rs 594 crore in the year-earlier period. The EBITDA of the firm also came in higher at Rs 78 crore from Rs 6 crore in July-September last year, Avadh Sugar & Energy Ltd said in a release. "The company now proposes to increase sugar cane crushing capacity from 10,000 TCD (tonnes of cane crushed per day) to 13,000 TCD, and also improve energy efficiency, it said. The Indian agri-economy was impacted by the El Nino effect in 2023, resulting in a rainfall deficit during the critical months of the sugarcane cycle. With an anticipated lower production in the upcoming sugar season, we expect domestic sugar prices to remain firm, reinforcing our positive outlook on the sector, ...

Recycling firm Integra Essentia net profit grows to Rs 7.5 cr in Q2

Recycling company Integra Essentia has reported a net profit of Rs 7.52 crore for the September quarter, aided by higher income. It had clocked a net profit of Rs 2.15 crore in the year-ago period, the company said in a statement on Thursday. The company's total revenue rose to Rs 74.75 crore over Rs 59.40 crore in the year-ago quarter. Its expenses were at Rs 64.96 crore as against Rs 57.30 crore a year ago. Integra Essentia is into steel and renewable energy business.

Alibaba scraps cloud business spin-off citing US chip export ban: Report

Reports Q2 revenue in line with analysts' estimates

Welspun Corp scales new peak on future growth plans; up 200% in 9 months

So far in November alone, the stock has rallied 29 per cent as against around 3 per cent gain on the Sensex.

Aster DM Healthcare Q2 results: Consolidated revenue rises 17.7%

On a sequential basis, the company exhibited a 3.15 per cent increase in revenue along with EBITDA, which grew 21 per cent year-on-year

Pitti Engineering profit rises to Rs 22.5 crore in September quarter

Pitti Engineering on Wednesday said it has reported a 121.9 per cent rise in Profit After Tax (PAT) to Rs 22.55 crore for the September quarter. The company had reported a PAT of Rs 10.16 crore in the year-ago period, Pitti Engineering said in a statement. However, the company's revenue in the July-September period dropped to Rs 302.85 crore, over Rs 304.55 crore in the year-ago period. "Despite upcoming challenges and uncertainties on account of war, upcoming elections and other macro-economic factors, the company remains positive for achieving our annual targets," the company's Vice Chairman and Managing Director Akshay S Pitti said.